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When you have an open job position, knowing where to begin can be tricky if you’ve never worked with recruiters before. Your choice to set up a Contingency or Retained agreement is heavily based on the circumstances that are involved with your position opening. The primary difference between the two agreements is who we, as recruiters, are representing. When making a placement in contingency contracts, we represent the candidate and present them to the hiring practice. In retained agreements, we represent the practice and present it to the candidate.

Contingency Agreements

Contingent searches are non-exclusive to a recruiting firm and recruiters often compete with competitors to fill the position. The scenario for contingency agreements is a “no win, no fee” situation and if the recruiter doesn’t fill the position, they will not be paid.

These searches are usually conducted at a quick pace and a high volume of candidate applications are sent to the client for consideration. Contingency agreements can be beneficial when the client is open to a variety of options, experience levels, and personality traits in a candidate.

With a contingency recruiting agreement, there are:

• No up-front fees
• Larger flow of candidate profiles
• Ability to work with numerous agencies

Retained Agreements

Retained agreements involve a very detailed and selective hiring process as the recruiter is paid when the position is filled. Clients that have openings for highly specialized positions and leadership positions are more likely to choose retained searches. The process usually involves disclosing more information about the position and conducting more briefings and interviews.

Retained searches are also common in physician recruitment when looking to fill positions with selective sub-specialties or Director-level positions. And clients that have a retiring physician often choose a retained deal to better their chance of placing a new doctor by the time the other retires.

There is a higher level of commitment from both parties due to the amount of money involved. The recruiter is able to put more time and effort into the project and will take the time to consider the client’s specific needs in a job position.

With a retained recruiting agreement, there is:

• More focus on filling your position
• Candidates that are better qualified
• Stronger commitment level between both parties

If you need help filling physician and advanced practitioner jobs at your practice, consider working with an experienced physician recruiting firm like Enterprise Medical Recruiting. We understand your recruitment needs and challenges and can work with you on a contingent or retained basis—your choice—to help you find medical talent and screen candidates for the positions you’re looking to fill. Contact us today to see how we can help!