Tuesday October 23rd @ 1:00pm AEDT/BST/EDT or 2:00pm SAST
Retained Search for Contingency Recruiters
Step up … to a higher level of service, bigger fees and stronger client relationships!
Bill’s unique approach to retained search is practical, fun – and brutally honest. If you’ve ever wondered how to make the switch, but lacked the training, the resources or the chutzpah, this program is for you. Here’s a peek at the what you’ll learn:
- An alternate mindset, set of methods and opportunities
- The differences between retained and contingency
- Learning the business, not the hype
- An honest, rational approach to building a practice
- Understanding the client’s perspective
- Think like a partner, not a competitor
- How to break old habits
- Understanding retained search methods
- When retained search is a bad idea
- Dealing with executive compensation
- Building a unique brand identity.
- The unequivocal importance of qualifying
- Establishing your methods
- Setting your terms and conditions
- Is there a fall-back position?
- Contracts and other documents
- Executing the search
- Are meetings really necessary?
- Making the switch—and never looking back.
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Hi Bill,
I found your talk very useful and hope to put some of your ideas into practice as I moved across from contingency to retained.
I will forward a linkedin request.
Many Thanks
Shelley Weaver, Melbourne, Australia
Please share your comments and questions for Bill below.
Bill, can you share an experience where you converted an existing contingency search client to retained? If so, how did you present the new model to them?
Thanks
K
can we ask Bill to speak louder or closer to the mic please?
Sorry Irfaan, I didn’t see this comment in time to do anything about it. It sounded fine to me. May I suggest if you find the volume low on the telephone, try the webcast and then you can turn up your computer speakers.
Take care,
Mark
what about if 99% of companies say ”our policy does not allow us to pay recruiters in advance”?
Hi Zoran,
You’re right, not all clients will agree to this. In my experience if you use the right pitch, and deliver it with confidence, then some clients (not all) will agree to work retained. Of course, they only agree to pay up front IF they have an URGENT, business critical problem that’s costing them money and causing them business PAIN. And IF they believe that you can solve that problem, and heal the pain. AND then only IF you’re pitching the real decision maker.
Where did you get the 99% figure from? Unless you’ve pitched retained search to 100 businesses? When I ran a desk, I closed about 1 in 10 clients on retained, so that means 90% said no. But I still won at least 1 retained assignment every month.
Good luck,
Mark
What is your standard fee with Retained? Engagement fee upfront? 1/3, 1/3, and 1/3?
Please discuss… various Retainers. Also could you talk about “Contained”?
Thanks,
Derek Stefan
Once you make transition to retained, or engaged, fees, can you continue to do some searches on contingent basis? (I am doing some of that now) For positions that your client won’t do retained for whatever reason.
Hi Jeff,
Bill and I have slightly different philosophies on this. I do think it is possible to have a mixture of retained and contingency work – when I ran a desk I derived 40% of my billings from retained assignments. And I also think it’s possible to “back down” the commitment ladder from a retained pitch to an exclusive job order, for example. You would just position it as a different service, which excludes some of the elements of your retained offering. I even had a client who laughed in my face (literally) when I first pitched for the retainer, but then I got them to agree the next time around (after I filled a couple of jobs on contingency).
– Mark
Are there any negotiable aspects to you contract?
This webinare answered so many of the questions I have had and as such, I am very interested in getting a copy of the tools offered by Bill Radin. Thank you for making this information available!
Bill,
Could you email me a copy of your contract and Search Navigator. Please send to rick@quantumexec.com. Also, my question to you is once a retained search agreement is signed does the company technically own you for the extent of the search?
Rick Mann
HI Rick,
Why don’t you email Bill directly? It’s billradin@billradin.com. That will make it much easier for him to respond to your request.
– Mark
Bill mentioned, in his session, that he would share a copy of his retained contract / agreement. How can I view / receive that document?
Thank you. This has been great to listen to.
-Justin
Hi Justin,
Just drop him an email: billradin@billradin.com and I’m sure he’ll be happy to help.
Glad you enjoyed the session!
Mark
Superb and amazingly comprehensive!!!!!!
Thanks so much for your time and your efforts!!!!!
Would have loved a copy of the script that was so excellent……
Hi David, the written transcript will contain Bill’s word-for-word script for pitching retainers, and that resource will be available soon to VIP members only.