Retained Model & Agreement
The definition of a retainer is “a deposit paid in advance to secure services.” This is common among many professional service relationships.
The search methodology is very similar between the retained model and the contingent model, but the retained model is more dedicated and defined, and has a much higher assurance of success.
The retained model also works better when a search possesses unique challenges, is a niche in the market, is time sensitive, and/or is confidential.
Defined resources and search strategies are specific for every search.
There is no substitute for experience. The CEO has completed thousands of searches over the past 40 years, and each search brings to the table new experiences and ways to approach the process.
Steps of the Process
Conduct a conference call to discuss the position, selection criteria, compensation range, and interviewing process.
Recruit using the latest social media platforms, proprietary database as well as tried-and-true method of cold-calling potential candidates.
Filter the best-fit candidates looking at skill set as well as ‘stand out traits,’ cultural fit, and motive.
Coordinate the interviewing process via phone/video interviews and/or physical interviews.
Assist with the final candidate selection, reference checking, offer, and closing.