Hiring a new executive is one of the most critical decisions a company can make. The right leader can steer the organization toward unprecedented growth, but a poor fit can lead to strategic missteps and cultural disruption. With so much on the line, it makes sense that your company is looking for methods that offer the greatest reliability and the highest chance of success.
This is where a retained search agency, such as the Christopher Group, comes into play. Unlike other recruiting models, retained search involves a deep, committed partnership between a company and an executive search firm. This partnership is specifically designed to provide ongoing support for finding and attracting top-tier talent for senior-level and C-suite positions. This guide will explore the mechanics of retained search and how its unique structure improves executive hire quality.
What Is a Retained Search Firm?
A retained search firm operates on an exclusive, partnership-based model. Your company pays an upfront fee, or retainer, to secure the firm’s dedicated services for a specific executive search. This initial payment creates a mutual commitment, allowing the search firm to invest considerable resources and time into finding your ideal candidate.
Because you have already paid for services upfront, the firm you partner with isn’t going to attempt to fill the role as quickly as possible with any qualified person. Instead, they will leverage their expertise and connections to pursue a methodical and rigorous process focused on finding the best possible fit. The firm acts as a strategic advisor, working closely with your leadership team to understand your company’s culture, long-term goals, and the specific challenges the new executive will face. This deep understanding forms the foundation of the entire search.
The Retained Search Process: A Step-by-Step Breakdown
The retained search process is detailed and consultative, differing greatly from the more transactional nature of contingency recruiting. While every search looks different, the process generally follows a consistent, multistage framework designed for precision. Below, we break down some of the key steps you can expect to navigate with your retained search agency.
1. In-Depth Consultation and Role Definition
The search begins with a comprehensive discovery phase. The retained search firm collaborates with key stakeholders within your organization—from the board and CEO to other senior leaders. The goal is to develop a nuanced understanding of the position and its requirements.
This goes beyond a simple job description. The firm delves into your company’s culture, strategic objectives, competitive landscape, and other relevant factors. They seek to understand the leadership style that will thrive in your environment and the specific skills the candidate will need to overcome current and future challenges. Essentially, this initial consultation results in a detailed position specification that becomes the blueprint for the search.
2. Market Mapping and Candidate Identification
With a clear profile in hand, the search firm begins its research. This stage involves mapping the market to identify companies and industries where they’re likely to find top-tier candidates. The firm uses its extensive network, proprietary databases, and original research to build a list of potential candidates.
A key differentiator of retained search is that consultants actively seek out passive candidates. These are high-performing executives who are not actively looking for a new job but may be open to a compelling opportunity. These individuals often represent the most desirable talent in the market, and they are typically accessible only through a discreet and professional outreach that retained agencies have the time to complete.
However, already-employed executives are far from the only pool of candidates. Quality agencies have a shortlist of prescreened contenders that could be the perfect fit for your company.
3. Candidate Vetting and Assessment
Once your agency has identified a likely pool of candidates, the rigorous vetting or rescreening process begins. Search consultants conduct multiple rounds of interviews to assess each candidate’s experience, skills, and leadership capabilities. They evaluate how each person aligns with your position specification and your company’s culture.
This assessment is more than a resume check. It often includes psychometric testing, behavioral interviews, and in-depth discussions about past achievements and challenges. The goal is to build a complete picture of each candidate’s strengths, weaknesses, and potential for success in the role.
4. Shortlist Presentation and Client Interviews
After the initial vetting, the search firm presents a shortlist of the most qualified candidates to you. This shortlist typically includes three to five individuals who have been thoroughly assessed and are genuinely interested in the opportunity. The firm provides detailed reports on each candidate, summarizing their qualifications and the consultant’s evaluation.
You then interview the shortlisted candidates. The search firm facilitates this process, managing scheduling and communication. After each interview, the firm gathers feedback from both you and the candidate to fine-tune the search and address any questions or concerns that arise.
5. Offer Negotiation and Onboarding Support
When you have selected your preferred candidate, the retained search firm plays a crucial role in managing the offer stage. Consultants act as a neutral intermediary, helping to negotiate a competitive compensation package that is attractive to the candidate and fair to your company. Their expertise in executive compensation trends can be invaluable in closing the deal.
Keep in mind that the firm’s involvement does not end once the applicant accepts the offer. Many retained search firms provide onboarding support to help the new executive transition smoothly into their role. They may also conduct follow-up meetings with both you and the new hire to facilitate a successful long-term fit.
The Christopher Group: A Better Model for Executive Recruitment
It’s clear that retained search improves executive hire quality. If you want nothing but the best for your company, then partner with the Christopher Group. We are an executive search company that works on retainer and specializes in securing HR executive talent. We are one of the leading companies in our industry, and our leadership comes from impressive backgrounds in Pepsi, Citibank, Microsoft, and other renowned companies.
Fill your executive opening the right way—contact the Christopher Group today and hire a leader who will drive your organization forward.