There are many people looking for jobs today. Finding the right person for the right kind of job is very important. The person must be committed to the job and be loyal to the company providing the job.
Recruitment Product Offerings in Asia
In 2012 CEO’s, business owners and hiring managers of all levels will be asking the question “Should I use a contingency recruitment agency or a retained search company for my recruitment needs this year?”
To address this question, an understanding is needed of the difference between the two main types of recruiting services.
This type of recruiter ONLY receives payment if a placement is successfully made – typically when the candidate accepts the position. Traditionally this service is used when:
- Positions are of a lower level and sometimes not critical to the organisation;
- Many people are likely to be qualified for the roles on offer;
- Large numbers of positions need to be filled; and,
- Speed of filling the position is a priority
This type of recruiter ALWAYS receives a retainer (up-front-fee) to perform a specific search for a candidate whether a successful candidate is found or not. Generally used when: -
- Positions are senior and critical to an organisation;
- Confidentiality of clients and candidates is important;
- Speed is not a priority; and,
- History of career stability is required.
AT RSM Recruitment Thailand we can offer both of these types of recruitment services in addition to a third business model which we possess the recruiting skills to offer.
We call this third service a “Re-Tingent Recruitment Search”. We understand that as a hiring organisation, especially in light of the recent flooding situation in Thailand that you may not want to risk paying an up-front-fee for a recruitment search with NO GUARANTEE of successfully filling the position that is critical to your business.
In fact many of the retained only search firms use a division of labour business model where the search director (recruiter who met with you to understand your recruitment needs) will delegate the research to support staff and only get involved again to present the shortlist to you.
In contrast, the vast majority of contingency recruiters carry out their own research and screening to fill their client’s roles. This gives them a clearer insight into the market they are focusing on and the caliber of candidates available. This allows them to be more consultative to you and increases their ability to advise you on where flexibility may be needed.
With RSM Recruitment Thailand’s Re-Tingent offering for a slightly higher fee for successful placements but with no retainer you can have the best of both worlds:
- We will conduct the search assignments on an exclusive basis, meaning you will not engage the services of another recruiter and the candidates sourced will belong to you the client rather than the contingency recruiter. This means you are unlikely to be involved in a bidding war come negotiation time.
- We will seek candidates that are highly motivated to change jobs in addition to focusing on acquiring candidates who are happy and successful in their existing jobs and not actively seeking new employment (often the better candidates).
- We will invest considerable time in each assignment in screening, interviewing and evaluating suitable candidates.
- We will provide more than just resumes, but also insight and consultative information about the market in general.
When hiring for a newly created position or a replacement of a current or recently departed colleague, these are some of the most important decision you can make in business. Weighing up the additional cost of an extra 2% or 3% of the incumbents first year’s annual salary for a no-win-no-fee re-tingent exclusive search really doesn’t seem that much for offsetting the cost to the business of hiring the wrong person or being unable to find the right person for months.
Notwithstanding the above, it is important for CEOs, COOs and HR Directors to evaluate the merits of each of the above approaches when determining which recruitment strategy to follow.
Author: Richard Stepney, Senior Business Development Manager, RSM Recruitment (Thailand) Limited.