Using contingency recruitment agencies (no win, no fee) might be adequate for more junior or less important roles, but they struggle to recruit more difficult to fill positions with any consistency or reliability.
Why contingency agencies fail:
· The agencies can only search for candidates already active in the jobs market (applying for jobs and uploading their CV etc). Meaning you're not reaching the vast majority of the top talent in the market
who are not necessarily looking but are nonetheless open to the right opportunity if it comes along (known as passive candidates)
· As agencies are not guaranteed a fee, they have to work on multiple vacancies for multiple companies simultaneously, meaning they can only dedicate so much time to your particular vacancy.
· They send the same candidates to your competitors to increase their chances of earning a fee, resulting in you competing with everyone else for the same candidate.
· They are in a rush with all other agencies to be the first to introduce the candidate, meaning they do not have the time to diligently assess the candidate's suitability.
· It can be difficult for you to know whether to offer a candidate you've interviewed because without having done the proper research, no one knows if there's a better candidate out there or not.
The best way to recruit:
· Map out the entire candidate market and identify all the people with the right experience who live within an hour's commute of your office.
· Contact all the suitable candidates and introduce them to the brilliant opportunity at your organisation.
· First stage telephone/Zoom interview candidates before shortlisting and introducing them to you.
The retainer (one-third of the overall fee) pays for this research and for us to contact, interview, and shortlist all qualified candidates ready for your review. The remainder of the fee is only due once a successful candidate has accepted an offer and started.
Not only do retained searches produce more consistent and reliable results, but they also produce candidates who stay with your company longer. Because passive candidates don't *need* another job, any job they do accept has to be the right job for them - meaning they are a lot more open and honest about their skills, strengths, weaknesses, and likes and dislikes when being interviewed. It's hard to get this candid conversation with active jobseekers because, for one reason or another, they actually need a new job. Stratum is so confident in the longevity of our candidates that we guarantee our retained searches by offering protection covering the whole year should the candidate leave within the first 12 months.
Why Retained Searches Succeed:
· Get to contact almost all suitable candidates in the area about your vacancy and not just the active job seekers that happen to be looking at that time.
· Methodical, targeted, and professional recruitment strategy resulting in more reliable and longer-lasting hires.
· All candidates are recruited exclusively for your organisation
· One year's protection on your recruitment spend
· The overall cost is not significantly higher.
· It's the only way to be sure that when you offer someone, you're offering the best person, from the best possible talent, available at that time.