Contingency Recruitment is a hiring strategy where an employer pays a recruitment agency a fee only when a suitable candidate is successfully placed in a position. This approach allows companies to work with multiple agencies to fill their vacancies.

In the context of HR, Contingency Recruitment is often used for roles that need to be filled quickly and can include positions across various levels. The recruitment agency utilizes its resources and network to find candidates who match the employer's job specifications. Fees for contingency recruitment are typically a percentage of the candidate's starting salary and are only payable upon successful hiring.

Why is Contingency Recruitment important? For employers, it offers flexibility as there is no upfront cost unless a candidate is successfully placed. It is an effective way to tap into wider talent pools through multiple channels. For HR specialists, it helps manage time and resources efficiently, focusing on candidates that recruitment agencies pre-select and deem fit.

Frequently Asked Questions about Contingency Recruitment:

How does Contingency Recruitment differ from Retained Recruitment?

Unlike Contingency Recruitment, Retained Recruitment involves an upfront fee and exclusive agreement with one recruitment agency to fill a position. Contingency is typically non-exclusive and payment is only required upon placement.

When should a company use Contingency Recruitment?

Companies often use Contingency Recruitment when they have multiple positions to fill, are looking to hire quickly, or want to engage with various recruitment agencies to increase their reach.