The Hidden Path from Contingency to Retained Search
Most recruiters are playing checkers when they should be playing chess. They jump from contingency deal to contingency deal, hoping to land enough placements to make their numbers. But there’s a better way – a systematic path from contingency to retained search that builds both stability and authority.
Think of it like climbing a ladder. Each rung represents a more sophisticated business model, with retained search at the top. But you can’t skip rungs. You need to build strength and confidence at each level before moving up.
The journey starts with contingency work at standard rates. This is your training ground. You’re building muscles, learning the market, and establishing basic credibility. But don’t get too comfortable here. The real game begins when you start adding engagement fees – small commitments that signal serious intent from clients.
As you progress, you’ll encounter different flavors of retained search. Some clients prefer the clarity of three equal payments. Others want performance-based milestones. The model matters less than the principle: committed partnerships over transactional relationships.
But here’s what nobody tells you: the key to moving up isn’t just about your search process – it’s about how you sell value. This is where frameworks like SPIN selling become crucial. You’re not just finding candidates; you’re solving business problems. You’re exploring implications, both professional and personal, for your client and their organization.
The metrics matter too. Two qualified searches per week, two new retainers per month, eight first-round interviews – these aren’t arbitrary numbers. They’re the rhythm of a healthy search practice. They create the deal flow that gives you confidence to raise fees and be selective about engagements.
Your communication becomes more sophisticated too. Detailed search specifications, pre-approved target lists, regular updates – these aren’t just processes, they’re proof points of your professionalism. They show clients you’re operating at a different level.
The final piece is brand authority. Speaking engagements, thought leadership, published content – these aren’t extras, they’re essential elements of the retained search business model. They’re what separate the trusted advisors from the resume pushers.
Remember: This isn’t a sprint; it’s a methodical climb. Each step builds on the last, creating a foundation for sustainable success in executive search.
The path is there. The question is: Are you ready to climb it?