Different Recruitment Methods
There are several different types of recruitment, which suit different industries, at different levels and different needs. The type of candidate, role, compensation scheme and career path will differ in each. Here is a basic guide to the different forms, but, as always, please contact a Spencer Harrington consultant if you would like to find out more.
Recruitment Consultancy
Generally speaking you will make either temporary, contract or permanent placements (although sometimes you can do a mixture) and these can be done through contingent, headhunting or retained methods but again a mixture is possible.
Contingent Recruitment
Contingent recruitment in its most simple form is placing candidates in specific roles through advertising or through speaking to existing candidates on the company’s database. Any candidates that you speak to are ‘warm’ so they are already actively interested in the role or have applied for a similar role in the past and/or had dealings with your firm so they are often very keen to move jobs. The roles can be picked up through speaking to existing clients, sourcing new clients or clients calling you with a role. There is generally no obligation from the recruitment firm or recruiter to fill a role so the recruiter can pick and choose the best roles to work on. The volume can be very high and a consultant can work on a number of different roles at any one time, generally speaking it’s very fast paced and hugely rewarding.
Contingent Search / Contingent Headhunting
The words ‘search’ and ‘headhunting’ are largely interchangeable and are a way of describing the method of generating candidates to place into positions. Unlike contingent recruitment headhunters or search consultants do not advertise for the positions they are looking to fill. Headhunters go out into the market and find the most suitable candidates for a specific role. This might be done through networking, referrals, market mapping or any number of proactive ways. Contingent headhunting or contingent search again has the advantage that a consultant has no obligation to fill a role and can pick and choose the best roles to work on.
Retained Search
Retained search or pure headhunting is when a firm is paid up front or ‘retained’ to fill a specific mandate. This method of recruitment is usually only used at the highest level and is more process and research driven than other methods. Typically companies such as a top investment bank or large multinational will pay a firm a fee in 3 agreed instalments over an agreed period of time whilst the search for the right candidate is carried out. The method of sourcing the candidates is through approaching candidates that are believed to be right for the role having researched their background and approached them directly.
