How to Sell Retained Search?

Ever been stuck with how to sell retained search? In this blog, I dive into everything you need to know about retained search within recruitment from the benefits to common objections.

What is Retained Search?

Before looking at how to sell retained search, we need to know what a retained search is. Retained search is a slightly different approach to the usual contingency recruitment. It is where a recruiter or recruitment agency exclusively engages with a client to fill open positions and are paid almost as if they are employed by the hiring company.

Unlike contingency search, where multiple firms compete to fill a position, retained search firms are retained on an exclusive basis and are paid a fee upfront for their services. This approach ensures a dedicated search process to find the best candidate for the role.

Benefits of Retained Search:

1. Dedicated Recruiter: With a retained search, the client benefits from having a dedicated recruiter who focuses solely on their recruitment needs.
2. Thorough Candidate Screening: Retained recruiters will invest significant time and resources in screening and assessing suitable candidates. They will conduct in-depth interviews, reference checks, and background screenings to ensure the candidates presented to the client are highly qualified and aligned with the role requirements.
3. Commitment to Finding the Best Fit: Recruiters on a retained search are committed to finding the best candidate for the position, not just the first available candidate.

Click here for further reading on What is Retained Recruitment

Common Objections to a Retained Search

Examples of objections to a retained search could be:

1. Cost: Clients may perceive a retained search as more expensive than a contingency search. Address this objection by explaining the value of a dedicated recruiter, thorough candidate screening, the long-term impact of finding the right candidate and highlighting the time that will be saved in the long run.
2. Time commitment: Clients may worry about the time commitment required for a retained search. Assure them that the dedicated recruiter will handle the majority of the search process, saving the client’s time and effort. In addition, the longer you utilise them the more they will understand you as a client which will result in less time spent running through positions.
3. Uncertainty of results: Clients may be concerned about the uncertainty of finding the right candidate through a retained search. Highlight your expertise, track record, and commitment to finding the best fit to alleviate these concerns.

How to Sell Retained Search:

Step 1 — Understanding Client Needs: To sell retained search effectively, it is crucial to understand the client’s specific hiring needs. Take the time to speak with the client to gather information about the positions, the company culture, and the desired qualifications. This understanding will allow you to tailor your approach and demonstrate how your services can add value.

Step 2 — Retained Search as the Solution: Once you have a clear understanding of the client’s needs, position retained search as the ideal solution. Highlight the benefits mentioned previously, such as the dedicated search, thorough candidate screening, and commitment to finding the best fit. Explain how these advantages and any others you might want to add can contribute to a more successful and efficient hiring process.

Step 3 — Building Trust: Building trust and credibility is essential in selling anything and is a must when selling retained search. Showcase your expertise by highlighting your experience and success in placing high-quality candidates. Share case studies or references from satisfied clients where possible. Additionally, emphasize any unique search methodologies or industry specializations that set you apart from competitors.

Step 4 — Structuring Your Pricing: When structuring your retained search pricing structure, explain the value that justifies the investment. Clearly communicate your fees and payment terms, which typically involve an upfront fee and a percentage of the candidate’s salary upon successful placement. Be transparent about your pricing and services.

Step 5 — Addressing Objections and Closing the Deal: As mentioned earlier in this blog, be ready for any common objections. Common objections to retained search may include concerns about cost, time commitment, and uncertainty of results. Address these objections by reassurance to how retained search overcomes these issues and delivers value.

For example, explain how a dedicated recruiter will save them time and effort as you’ll be handling the entire search process. Highlight the thorough candidate screening process that reduces the risk of a bad hire. Emphasize the long-term benefits of finding the right candidate who can drive business success.

Competitive Advantage to a Retained Search:

To differentiate yourself from other retained search recruiters, highlight your competitive advantages. Do you have unique search methodologies? Do you specialize in a specific industry? How do you differ? Emphasize these strengths to make your offering stand out and demonstrate why clients should choose your firm over others.

Conclusion

When looking at how to sell retained search, by understanding your client’s needs, showcasing your expertise, and offering a compelling value proposition, you can effectively sell retained search services and become a valuable partner in their talent acquisition strategy.

Position retained search as the solution that provides a dedicated recruiter, thorough candidate screening, and a commitment to finding the best fit. Address objections and highlight your competitive advantages to differentiate yourself and build trust with clients.