A Retained Search Model in the recruitment industry refers to a method of search and contractual agreement where a company agrees to work exclusively with a recruitment firm to fill a specific position or several positions within the organization. In this type of search, the company pays an upfront fee to the recruitment firm to start the search and provide dedicated services to fill the role or roles, which provides a guarantee that the firm will find a suitable candidate for the position. The recruitment firm works exclusively with the company during the search process and is dedicated to finding the best fit for the role or roles.
Retained search is often used for senior level or highly specialized positions, where the company is looking for a candidate with a specific set of skills and experience. This type of search process is considered to be more thorough and intensive than contingency searches, where a recruitment firm is only paid a fee if they successfully place a candidate in the role.
Watch this video from FocusCore Japan, a Tokyo-based recruitment firm, talk with one of their clients about the difference between contingency and retained search.