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Every time a contingency recruiter asks
me how to write a retained search, I turn the question around
and ask the recruiter, "Before I say anything, first tell me
why you think a retained search would be in the best interest
of your client."
In other words, forget about how much
you'd like to write a search contract and get some money up
front. Put yourself in your client's shoes and consider
how a retained search would benefit whoever is writing the
check.
Don't get me wrong. Cash, commitment and control
are pretty nice perks. But they do nothing to address your
clients' needs. They're worried about how they can fill key
positions, not how they can fill your bank account.
Don't Play Dr. Phil
What's really
astonishing is how many contingency recruiters want to write
retained searches so they can control -- or even punish --
companies they feel have mistreated them. Unfortunately, fancy
contracts and up-front fees can't improve a dysfunctional
relationship, any more than putting wallpaper over a bumpy
surface will smooth out the wall. The veneer may be new, but
the imperfections will eventually show
through.
Effective consultants look first for the value
they can add, then the cash they'll receive -- not the other
way around. If you're thinking about offering retained search
services to your clients, the first step is to understand the
reasons why an organization might choose retained search over
contingency. These include:
| 1. |
Tradition. Since most high-level
searches have been done on a retained basis for as long
as anyone can remember, why try to reinvent the wheel or
fix something that isn't broken? |
| 2. |
A proven
track record. In general, retained search is
considered the best way to improve the quality of
leadership in a timely and cost-effective
way. |
| 3. |
Depth and
breadth of service. Retained search is a
multi-faceted discipline that involves the type of
research, problem-solving and analysis that's beyond the
scope of services offered by many contingency
recruiters. |
| 4. |
Clarity of
roles and responsibility. Given the importance of
filling a key position, the last thing a company wants
is confusion over who's doing what or who has the
authority to refer qualified candidates. That's why 99
percent of retained search contracts specify that the
search firm that wins the contract becomes the exclusive
provider of services. |
| 5. |
Partnership,
not competition. Contingency recruiters often face
potential conflicts of interest, in that what benefits
the recruiter may not necessarily benefit the client.
For example, if
you're a recruiter trying to fill the same position with
three different companies, two of the companies may lose
their access to the very best candidates.
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Or, if you're
marketing a hot candidate, and two of your clients are
interested in hiring the person, it may set off a bidding
war that artificially drives up the price of talent.
Bear in mind that not every position will call for the
services of a retained executive recruiter. However, if you
decide to offer retained search, always put your clients'
needs first. That way, you'll build your reputation and your
business at the same time.
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