Frequently Asked Questions
What is retained search? A retained search is when a company selects or appoints an executive search firm to conduct a search for a senior level individual to fill a identified need within their organization. Normally an exclusive agreement but more than one executive search firm may be engaged.
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How does retained search differ from contingency search? When a hiring company elects a retained search engagement, the retained search firm takes the responsibility for identifying suitable candidates to fill the senior level role and is compensated accordingly. In a contingent search, the hiring company may select one or more contingent firms to identify suitable candidates however the contingent firm assumes no responsibility for surfacing candidates and is compensated only if a candidate they first identify is ultimately hired.
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What criteria do you prospective clients use in their decision to retain Lorenc Group International? Generally speaking, clients have retained Lorenc Group International because of their dedication to individualized service, their knowledge of the industry, their global reach, their sense of urgency and most importantly their successes in previous engagements.
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