JRG Partners – Retained Executive Search
We have Proven Expertise in the recruitment of “High-Performing” quality leadership. We provide you a Data-Driven method to support confident – Candidate Decision-Making. Our retained executive search extends to the Manufacturing, Food & Beverage, CPG and Medical Device industries. We cover VPs, Directors and vital Executive positions. Use our retained executive search to attain the team acceleration you desire and build your organization’s senior leadership infrastructure.
Contingent vs. Retained Search
Finding and connecting with top-talent is no easy task. You need expertise in assessing their skills, understanding their cultural fit, leadership style and an in-depth understanding of company culture. At the top most level, this is of utmost importance as the new hire will have his/her impact on the strategic decisions and culture of your firm. Thus, in order to achieve a high rate of search and hire, firms engage an executive recruitment partner for the task.
Generally, contractual-candidate-search with recruiters falls within two categories: retained search and contingent search. Both of these models have their pros and corns. Depending on your company’s strategy and the position that needs to be filled, you may choose the most appropriate model. We will try to differentiate between the two models below, this will be a good guide in deciding which model will work best for your requirement.
Retained search comes with dedicated time, an off-limits recruitment-service-agreement and, recruitment for industry specific senior-level roles. If you are looking for a higher-end recruitment services model which works for tough-to-find talent, then, retained search is the most appropriate option for you. With large recruitment firms, there is often a minimum dollar amount you need to spend with them per year to avail the off-limits service. Mostly, with these kinds of terms, the search is outsourced to the recruitment firm on an exclusive basis.
This kind of a model is particularly effective when filling senior-level roles. Generally payments for retained search are around 30% of the annual compensation package of the position, payment is usually done in three parts. First part, for the retainer to initiate the search, second part, at a time or milestone date mutually agreed upon and third part, upon the successful placement of a candidate.
Clients who want to fill mid-level or lower level positions would generally choose to hire one of more contingency recruiter. A contingency firm only gets compensated upon successful placement of a candidate. The fee structure of a contingent search firm is comparatively a lower percentage of the annual compensation as compared to retained search. The fee can also vary depending on the industry and the ease or difficulty of the search task.
As contingent searches are not exclusive in nature, there is a good chance that multiple recruiters may be working on the same talent search. A firm may contact multiple recruiting agencies in order to maximize the search reach. Firms may also conduct their own search or recruit from internal efforts as well.
Pros and Cons
When hiring lower-level talent, one clearly benefits by hiring one or more contingent recruiter. If, however, you are looking to hire an executive-level leader, a board member or top management talent, then, the retained search model is your best option. Professional retained recruiters have access to a large database of industry-specific highly qualified candidates. They are also well connected to a network on that industry’s leaders. This kind of access greatly increases the chances of finding the exact talent you are looking for.
Further, within the retained search model, industry specific expert recruiters are more inclined towards client relationship and they are committed to finding a candidate for the specific position. At JRG Partners, this means that all candidates undergo a unique vetting process, screening, video interviewing, candidate-client interviews, final interviews and on-boarding.
We understand that every firm has their own mission, vision, culture and candidate needs. We also know that executive level employees are key decision maker and that they influence both the culture and bottom line of the firm. Our recruiters initiate all candidate searches keeping these parameters in mind. Our retained search recruiters fully comprehend our clients’ hiring needs and unique organizational culture in mind ensuring long term success of higher-level-talent.
Why retained search is so effective?
The most important decision a company or organization ever makes is arguably its investment in human capital. Well-placed leaders challenge the status quo, inspire their people to maximize their potential and shoot for the stars with upward growth strategies.
Executive search consulting firms operate on an exclusive, client-centered basis and work on a limited number of assignments at one time. Executive search companies typically notice candidates with various backgrounds and have access to candidates UN agency don’t seem to be actively seeking a brand new position. They are engaged all told aspects of the method, from defining the search through candidate integration. They charge a consulting fee (retainer) for the assignment, consistent with their in-depth advisory work. Executive search consultants deliver high-quality service, a slate of highly qualified candidates, and develop long-term relationships built on trust.
Contingent recruiters request to put as several candidates as attainable within the shortest attainable time. They tend to work with many assignments concurrently. If a selected assignment isn’t obtaining traction, contingency recruiters have little incentive to continue. Contingent recruiters offer their service with no money up front, and they get paid for candidates who are hired from resumes they present. Fee is typically lower, reflecting their limited scope of work. Contingent recruiters deliver broad access to “ready to maneuver candidates” and a fast presentation of an outsized variety of resumes.
While some human resource managers believe that both models are the same, they clearly are not. Some clients try to negotiate the lower fees of the contingent recruiters but desire the full complete and thorough search service of the executive search (retained) firms. At the same time, they show no loyalty by trying to do these same types of deals with multiple search firms all at the same time. This is a recipe for disaster and clients like this are avoided like the plague.
Executive search adviser (retained search professionals work with their shoppers on associate exclusive basis).
Retained search is effective because if following reasons –
- They are dedicated to following best practices and doing the job right. They work very closely with the client by developing a methodology, action steps, and timing that is realistic and that matches with the needs of the client.
- They are truly management consultants; you’re not alone.
- Remember that contingent recruiters are in a race to provide resumes as quickly as they can. It’s your job alone to evaluate the resumes and assess if they fit your position and company.
- The goal of the executive search consultant is to present four to five high-quality candidates with the skills, fit, salary, etc. desired by you, the client.
- Intelligence is provided through exhaustive research on the industry, competitors and ideal candidates.
- Candidates are screened and assessed using modern assessment tools and are pre-qualified to fit the position and your company culture.
- Cost effective executive search (retained search) fees range from 25% to 35%, and contingency recruiters try to charge the same amount but provide you with much less.
- The contingency recruiter’s model is a No Win No Pay basis. So, their dedication based upon their actions is very limited. They are not set-up to provide the same level of professional services as a retained search model provides.
- With a retained search consultant, you will receive full briefings on the search process, competitors, the market, and the talent pool.
- In order to get excellent practices and handiest government search service the maintained search model for middle to senior level positions is that the selection of champions.
Our Retained Search Methodology
JRG Partner’s retained executive search offers the following advantages:
- In coordination with you, we will prepare a detailed candidate traits and role specification sheet.
- We will utilize our network and database to identify perfect match candidates and present them with the opportunity in the most compelling manner.
- We will prepare and send weekly candidates and interview reports providing the exact status of the search. We will identify key issues and strategize with you to address them.
- We will analyze all candidates and compare and contrast them in respect with required skills, personality and fit criteria.
- We will conduct a comprehensive selective-screening process, submitting only the top best-fit chosen candidates.
- We will ensure that your team spends the least time in interviewing candidates and that, the search process moves efficiently.
Briefing / Role Definition
We communicate with you and spend the necessary time to learn about all the unique differentiation of your company. This helps us identify issue that will determine the success or failure of a new senior member in your team. JRG Partners will then prepare a specifications list covering all key attributes of the role and the traits of the individual being sought to fill it.
Research / Screening Candidates
We will assiduously research the market and identify the best-fit candidates. A JRG Partners consultant will personally speak with each prospect and establish their skills/traits match for the role. A client report is prepared and you are kept informed about the progress.
JRG Partners Candidate Evaluation and Interview
As a JRG Partners retailed search client, you are paying for our service that will increase the efficiency and effectiveness of the hiring process. We ensure to only send out details of those candidates who have been thoroughly screened by us. Matching them and their skills with the specifications provided by you.
Briefing before the Meeting with Candidate(s)
Our dedicated recruiter will ensure that you have been properly briefed about the key concerns and issues of the candidate(s). Also, vice-versa, we will ensure that all candidates you decide to interview have been effectively briefed about your company and the exact nature of the role.
Managing the Interview Process
So many potentially successful recruiting assignments flounder as clients / candidates or both are busy and don’t accord the process with the required attention. One of JRG Partners key responsibilities include the management of the recruiting process. We provide most accurate and timely feedback between the stakeholders at each and every stage to ensure both a right match is made and, the recruitment process progresses to becoming a successful hire.
In the retained search process, JRG Partners will ensure frequent reports are sent to you in respect with each candidate on the target-list. We will also be detailing the candidates’ response to our approach and their progress in the process.
Our Flexibility and Tailored Approach
JRG Partners can be as pro-active, active or passive as you desire. We can even be almost invisible in the closing stages if you so desire. Further, we can assist your firm with advice on market rates, compensation packages and, advice on how to distinguish your firm and opportunity form the competition.
Benefits of Using Our Retained Search Service
If you are in the market for senior-level executives, then you should strongly consider using our retained search services. The retained search process makes hiring top talent simple and effective. Your firm will work with us to set your qualification criteria for the position, agree on the salary for the position, make an upfront payment based on a pre-determined percentage which retains our services and we begin the search.
What are the key benefits of retained search to your firm?
It Saves You Time and Money
Hiring is both a time-consuming and expensive process. Cost of hiring the wrong candidate is even more expensive. Consider the time and cost spent on unsuccessful projects, the salary spent on an ineffective hire can be very high. The stakes are higher in the case of C-suite-level executives. Thus businesses strive to get it right the first time. That is the main reason they trust the services of staffing agencies like JRG Partners to delegate the task to us.
We have the Industry Expertise
Recruiters are not only a hiring experts, they also specialize in particular industry hiring. For instance, finding top senior-level executives talent in the Manufacturing industry can be highly challenging. Partnering with a recruiter who knows the ins-and-outs of the manufacturing sector and has networking & contacts means; you can get a perfect candidate match faster. Also, hiring using JRG Partners will help reduce risks for your firm. Since, using dedicated, expert services, the likelihood of finding a more qualified candidate who is less likely to leave the position after a brief time is very high.
Expert Communication Skills
In order to start a good relationship, effective communication is a must. JRG Partners retainer services are laser focused; we effectively handle HR responsibilities and recruiting for Manufacturing, CPG, Food & Beverage and allied industries. Our team is highly experienced in candidate follow-ups, negotiation and important communications. Such skills and expertise can be the difference between filling a position and leaving a gap in the leadership team.
Hire us for Your Firm’s Talent Needs
We provide our contingent and retained search services to clients all across the US. Our clients include multinationals as well as national firms, both large and small. Join hands with JRG Partners and let’s embark on mutually-beneficial long-term relationship.
Call us to discuss your specific retained search needs on: 1-844-SEARCH7 or email us on email@example.com and, discuss your detailed requirement with an expert retained search recruiter.