Finding and retaining talent is one of the top focuses (and challenges!) of companies as the job market becomes increasingly competitive. Partnering with an outside recruiting firm to take on a job search is a smart play for many, but when it comes to which recruiting model to use, things can get a bit tricky.
At Hunt Club we’ve built a shared-risk recruiting model that is a new take on the industry’s two established recruiting methods: contingency recruiting and retained-search recruiting. We’ve seen how both these models work, and we’ve always believed there is a better way. So, that’s just what we’ve created. Before we share our model, here’s the low-down on how traditional recruiting models work:
In contingency recruiting, an agency earns a fee only after a candidate has been placed in an open role. This recruitment method is mainly adopted when organizations are looking to fill a junior position. A company will often contract with multiple agencies for a single open role, which can lead to recruiters overlooking talent in favor of speedy placement.
With retained search, a recruiter charges a hefty upfront fee to begin a search, while working on an exclusive basis—meaning the job can only be filled by their firm. Retained search can be a long, rigorous process with the client paying upwards of 50% of the role’s salary for the service. This recruitment method is usually best suited for filling senior positions.
What makes Hunt Club’s shared-risk model the better option?
Hunt Club keeps it simple. Our partner companies pay a certain amount to conduct the search, and when a candidate has been placed, we’ll receive the remaining amount. We find this model to be the best model because everyone has skin in the game. Our Hunt Club Talent Partners want to find the best candidates for the open roles – because we won’t get paid unless we do our job. And, our partner companies are invested in the process too. Here’s a few other reasons our shared-risk model works:
The upfront costs are there for everyone to see (and they are a fraction of traditional recruiting firms). If you’re a first-time partner company, our up-front fee is $999 and 20% on the placing of a candidate. If we’ve done work together before, up-front is 5% and 15% upon candidate placement. Have more than a few roles? We also do enterprise pricing, that gives a company a deeper discount as we search for great candidates.
Using our Hunt Club Influencer Network, we can tap into some of the best talent in the nation faster and more effectively than other recruiting firms. Our focus is on finding a company the right person.
White Glove Service
We are with a client every step of the way from sourcing and interviewing to contract negotiations. We want our clients to win – aka find the best people – so our search starts from Day 1. Helping a company grow and build their team and culture is most important.