Contingency search is a type of recruitment solution that be conducted by a recruitment firm. These services help businesses to find and employ talented employees on a contingency, or project basically. With the contingency search, businesses only pay after the agency does successful hiring. In this article, Navigos Search will help you understand more about how a contingency search firm helps businesses and what these services look like in Navigos Search firm.
What is the contingency search services?
A contingency search is a recruitment solution perform by a recruitment firm for free until the day candidates represent by them take a position in the businesses. With this service, the recruitment agency needs to fill the empty position as soon as possible to get a higher hit rate.
How does the contingency search work?
The contingency search start when the businesses have advertised the employment notification on a job board or their website, Linkedin, etc. Then the recruitment firm has to be quickly doing a database search and get as many resumes that look best suitable for the client requirements. If the recruitment firm does not keep the job in time, they will face the risk of their competitor sending someone that registered on their database. These services help to ensure the client businesses more by the contingency search firm is paid only when someone gets hired.
Contingency search process from Navigos Search Vietnam
Below are 7 steps of a contingency search process offered by Navigos Search, a leading executive search firm in Vietnam.
1. Consultation with the client company
Navigos Search consultant will meet the client for a detailed discussion on the search criteria and effort to fill the role. The Terms and Conditions will be confirmed at this point.
2. Screening and preparation of a candidate list
After screening our abundant database, online resources, and Navigos Search’s wide-reaching networks, Navigos Search will prepare a list of candidates that look the best fit with the client’s needs.
3. Candidate interview by consultant
Navigos Search consultant will meet the candidates and discuss the position employing, considering experience, skillset, language proficiency, interest in the position available, and their suitability with the client company. Only candidates who meet the criteria and express an interest in the client company will be submitted.
4. Arrangement of candidate interviews
The consultant will recommend screened candidates to the client company and serve as a direct liaison in arranging for candidate interviews by the company.
5. Feedback on interviews, signing of contract and negotiation of terms and conditions
Throughout the interview process, the consultant will provide feedback to both the client company and the candidates.
Once the client company and the candidate come to an agreement on the terms and conditions, the hiring decision is finalized and an employment contract is signed. The contingency search fee will generally be invoiced at this time.
7. Aftercare services
Following every employment services, Navigos Search consultants maintain regular contact with both client and candidate to ensure that the two are able to maintain a good relationship that allows for satisfying and successful work experience over a long period.
The benefit of using contingency services Navigos Search Vietnam
The cost of a failure hiring is much bigger than any recruitment services you are looking for to choose from. Below are some best benefits that you can get from outsourcing a contingency search solutions at Navigos Search.
- Save your time and human resources - The contingency recruitment services bring businesses with qualified candidates. This not only helps businesses reduce time and resources in finding, screening CVs and interviewing the best candidates. The contingency search process allows businesses to just take the qualifies one which approved by the recruitment firm.
- Lower your cost - Businesses only need to pay after successful hiring.
- Improve the internal hiring process.
A contingency search can bring the best suitable for businesses in just a short time with a minimum fee paid after successful hiring. It also helps businesses lower their cost and save human resources in case they do not have more time and people to run a hiring process. In Navigos Search, we help the client company in finding and replace senior to high-level positions in many types of service, including RPO, retained search, contingency search, etc. For further more information, read more at contingency search vs retained search which is right for you?
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