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Contingency recruitment refers to a type of recruitment in which a recruitment agency collects fees from clients only when a qualified candidate is searched and placed by them for the position in question.
Contingency vs Retained Recruiters
The primary distinction between retained and contingency recruiters is how they are compensated. Recruiters that work on a contingency basis are only compensated when they find a candidate who accepts a job offer while a predetermined upfront payment and further remuneration are made to retained recruiters once they successfully find a candidate to fill the position.
Pros of Contingency Recruiting
Cons of Contingency Recruiting
Afterward, candidates shortlisted through contingency recruiting and retained recruiters are usually added to an Applicant Tracking System (ATS) for processing by the organization. In some cases, ATSs are available in-built into HR software as well.