Retained, Engaged, Or Contingent — Which Is The Best Executive Search Consultant?
Hiring the right talent, especially for leadership roles, is vital for an organization’s success. Executive search is a specialized process where external firms identify and assess candidates for top-level positions. The type of executive search model you choose depends on the level of talent you require and your available resources. The three most common models — Retained Executive Search, Engaged Executive Search, and Contingent Executive Search — vary in terms of service, cost, and focus. Understanding these differences will help you select the right executive search consultant to find the best candidate for your organization’s unique needs and objectives.
Retained Executive Search: A Strategic Partnership
Retained executive search is a premium recruitment service designed for filling senior executive positions within an organization. It involves an upfront fee, which is typically divided into three instalments: the first payment when the search begins, the second 30 days later, and the final payment upon the successful placement of a candidate.
In this model, the executive search consultant works as a strategic partner, providing extensive guidance throughout the entire recruitment process. From developing a customized recruitment strategy to identifying and engaging passive candidates — those not actively seeking a job but who may be a great fit — the consultant plays an active role in every step.
The consultant collaborates with the client organization to define the ideal talent profile, revises job descriptions, and conducts in-depth interviews to ensure that only the best candidates are presented. The retained consultant’s loyalty lies with the client, ensuring they focus on both immediate needs and long-term organizational goals.
One of the main benefits of retained executive search is its effectiveness for highly specialized or senior roles, such as C-suite executives. This approach excels in identifying passive candidates who are already employed in similar positions, making it an ideal choice for roles requiring specific expertise and a strong cultural fit.
Engaged Executive Search: A Balanced Approach
Engaged executive search offers a balanced approach between the comprehensive service of retained search and the more transactional nature of contingent search. In this model, the client organization pays an initial fee upon engaging the consultant, with the remaining balance due once a candidate accepts the position.
While the services provided in engaged search are similar to retained search — such as developing a talent profile, conducting interviews, and presenting candidates — the level of strategic consulting and involvement is more limited. The primary focus is on providing candidates who meet the qualifications and experience required for the role, but without the extensive consulting partnership found in retained search.
This model is particularly suitable for organizations looking to fill mid-level executive positions or for smaller companies with budget constraints that prevent them from opting for a full retained search. Although engaged search still involves collaboration between the consultant and client, it is more focused on candidate delivery rather than a comprehensive, long-term partnership. The consultant’s role in this model is to present qualified candidates who align with the client’s needs while building a trusted working relationship. This can lead to an ongoing partnership that grows over time, but the level of involvement is less intense compared to a retained executive search.
Contingent Executive Search: Quick and Cost-Effective
Contingent executive search is the most transactional and cost-effective model, differing significantly from retained and engaged searches. In this approach, the consultant only gets paid if a candidate is successfully placed in the role. There is no upfront fee, and compensation is typically commission-based, often a percentage of the candidate’s salary. This model is commonly used for high-volume recruitment, particularly for filling entry-level or junior management positions.
The contingent recruiter generally does not invest in extensive research or outreach to passive candidates. Instead, they focus on reposting job descriptions across various job boards and leveraging platforms like LinkedIn to attract applicants. Since the consultant’s payment is tied to placement, their primary focus is on speed and volume, often at the expense of quality and long-term alignment. Consequently, candidates are not as rigorously vetted, and there is less attention paid to cultural fit or future organizational needs.
While contingent search can be an efficient and cost-effective solution for large organizations needing to fill numerous roles quickly, it is less suitable for specialized or senior executive positions. The lack of personalized outreach and focus on high-volume recruitment means the quality of candidates may be lower, making this model more appropriate for less specialized roles.
Choosing the right executive search consultant
When choosing an executive search consultant, it’s essential to consider the position you’re hiring for, the required skill level, and your hiring budget. For senior leadership roles demanding specialized expertise, retained executive search offers a strategic, dedicated partnership. WalkWater Talent Advisors, recognized as one of the top executive search consultants in India, excels in this area, providing a customized, in-depth search process. For mid-level roles or a smaller budget, engaged search provides a balanced approach with quality candidates but less consulting. Contingent search is ideal for filling multiple entry-level positions or when cost-effectiveness is a priority, though it may result in lower-quality candidates. Understanding your organization’s needs will help you select the right search model to find candidates who align with your values and goals.
