Contingent Search vs. Retained Search
Companies are constantly looking for job positions that need to be filled, but rarely is it the case that the relevant knowledge, programmes as well as the most essential element, the network, are available within the organisation to find the right candidate.
Fortunately, recruitment companies exist that possess all these resources, including years of experience, for finding the perfect match. Nevertheless, each of these companies follows a different process and vision in terms of search solutions, as there are two different approaches that can be taken:
By taking a closer look at the Fast Track Search solution, it is already noticeable by its name that a shorter search and fewer resources are involved, as it focuses on an immediate talent pool and the most active candidate compared to the other method. Although in this case there is no guarantee of finding the right candidate, it is still suitable for companies that are currently not willing to make any commitment to the recruitment agency, as well as for job vacancies that are not critical or demanding and only require assistance in the search process. As this is not an overall market package, no upfront costs are charged. This type of candidate search is commonly used among recruitment companies, especially in the Asian region, as people are unwilling to pay before the service happens.
Nevertheless, we at SPS International focus besides the Fast Track Search more on the other approach, which is the Premium Full Market Retained Search, whether it is in the Asian market as well as in the European area. This method provides an advanced methodology to search and attract the top talents from specialist industry professionals through to Senior Leadership positions. Comparing to Fast Track Search clients receive an in-depth full market search providing a shortlist of headhunted candidates including those, who are not actively applying for positions. This includes extensively screened and well-motivated applicants, who have much higher success rates, but also requires more time and money upfront. his makes it perfect for clients who have difficult job vacancies as well as those who need to fill a niche or require senior candidates with higher importance.
Although the APAC market is accustomed to a different search process, we believe in the detailed profiling and quality of the network within our three main industries of Human Nutrition, Animal Nutrition as well as Health & Crop Protection in the Asian region, where our consultant Oliver Lyth is in charge. By having complete candidate profiles and comp forms from a full market search, Oliver manages to find the best candidates, for functions in the Commercial, Regulatory, Technical, R&D and Scientific sectors, instead of just finding those who are on the lookout or stand out the most.
Network is the key
However, to understand the importance of Premium Full Market Retained Search, including the benefits of a more detailed network, reference is made to best practice cases of positions Oliver has been able to fill within the Asian region by applying this search solution. Starting with the successful recruitment of a Marketing Director in the APAC region for the Health & Wellness sector working for the American multinational company ADM. In addition, global client Probi benefited from suitable candidates for the Senior Business Development Manager in APAC as well as Key Account Manager roles, together with the discovery of a suitable Business Development Manager in the China region, all focusing on the probiotics and human health markets. Followed by the Canadian company Lallemand, which needed to fill two Regional Sales Managers positions and Oliver, with his extensive network, was able to find a perfect match. Finally, two confidential sales managers were recruited for the nutritional supplements market in APAC as well as for nutrition for early life nutrition in APAC for a global human nutrition and health business.
All these projects demonstrate that the Retained Search variant, which involves a wide range of databases as well as detailed profiling, enables to identify the best candidates, especially in senior positions. Hereby, it’s important to understand by finding the perfect qualified candidate can be beneficial in long term. In this context, it is important to understand that winning a qualified candidate is more beneficial for the company in the long run rather than focusing on the fast-track search and upfront costs.