The retained executive search involves forming an exclusive partnership with a recruiter who will conduct a thorough market analysis to identify a pool of highly qualified candidates that match your organization's profile. The recruiter will then screen the candidates based on their cultural fit, specialized experience, and knowledge, to narrow down the list to the most suitable candidates.

On the other hand, non-exclusive contingency recruitment involves engaging multiple recruiting firms to source potential candidates. This approach may result in a diffusion of responsibility, limited accountability, and access to only a small pool of candidates who are actively seeking new opportunities.

In retained search, an upfront fee known as the retainer is paid to the executive search firm to cover the costs of the search process. This fee sets out the goals and milestones of the search and is credited towards the final placement or completion fee. In a contingency search, no initial payment is made, and the fee is only incurred once a successful placement has been made.

The reason for paying the retainer fee upfront is that it guarantees the best possible partnership between your organization and the search firm.