Corbett Consultants provides two search options:
Contingency search is frequently non-exclusive in character and the fee is contingent upon the hire. No fee is due unless the recruiting firm introduces the candidate that is hired, thereby reducing the financial risk of the client. A contingent search is a conditional agreement between the recruiter and the client. The client provides the recruiter with a basic job description that should include position level and title, job responsibilities, qualifications and compensation. In turn, the recruiter provides the client with recruiting services. In a Straight Contingency search, the client is free to work with multiple recruiters. No guarantees are made regarding time committed to the search, number of prospects contacted or number of candidates introduced.
A retained search is preferable in cases where a company has a pressing need. Given the strategic importance of these positions, a degree of urgency, and often confidentiality, are required. Retained searches are given priority status in terms of time, array of services, and resources dedicated to the project. A retained search is an agreement in which the client will contract exclusively with the recruiting firm. The retainer usually consists of three payments that are paid at established intervals. The first is paid at the inception of the search, the second after 30 days, and the balance once the candidate is hired.
Some form of exclusivity is attached which can be for the duration or limited time. If limited by time, only one search firm will be engaged until the agreed upon time frame expires. An up front, non-refundable engagement fee is paid and the amount is applied to the total fee earned, once the successful candidate is hired. This method offers several benefits to both the client company and the search firm. Some of those benefits include:
- The recruiter is able to give the search a high priority because of the client commitment and the lack of competition
- Deep market coverage is possible with more extensive screening of candidates
- The client gets the right of first refusal on candidates presented
- Prospects don’t receive multiple recruiter calls for the same job which improves credibility and promotes trust in confidentiality