Don’t Be Offended By The R Word!
The word “retainer” seems to get a bad rep in all industries, except maybe for lawyers. Potential clients hear the word retainer and immediately go running for the hills! I get it, it can be intimidating and yes, retained businesses require money up front before the job is complete. That’s where the “fear factor” sets in. But here are a few reasons WHY a retainer can actually be useful AND cost effective:
1. Money is a driver and motivator for EVERYONE. Here’s the truth: receiving money upfront and in the pocket before the job has been completed, actually gives no option but to produce quality work. Let’s be honest, if someone requires payment upfront and doesn’t do a good job or complete the assignment, they are risking their reputation — or their contract.
2. Retainer DOES NOT mean a slow process. In fact, the process is usually driven by the client. A quality recruiter should know and understand the client well enough to know the best way to deliver. For example, different clients call for varied approaches to the recruitment process. Some may want to see a large quantity of candidates over a reasonable period of time, while others want to make a hiring decision after meeting 1–2 stellar candidates. Well versed talent professionals will deliver how and when you want them to.
3. The guarantee. The guarantee that comes with a retained firm is that they have built enough trust and rapport that they’ll want to keep your business. This means they will endeavor to deliver value EVERY time, plus the assurance that if a hire wasn’t right, a replacement effort would be free.
The R word shouldn’t have you running for the hills, it should be a quality assurance that your time and resources are well spent to most effectively build your team.
About the author: Rebecca Levin is the VP of Retail and Digital Business Development at Martin Kartin & Company. Rebecca intimately understands the new generation of talent and how to match their specific dynamic with today’s newly defined roles and organizations. Follow her on Twitter @MartinKartinCo and contact her at rlevin@martinkartin.com
