A retained search is equivalent to taking a personal relationship to the next level. Sure, you’ve played the field (contingent search) for a good amount of time; however, you’re now at a point where you want to get serious. You want to settle down. You have so much to offer to the right person, and you want him/ her to see that. You’re tired of going through the motions with lots and lots of individuals…surely many of whom did not have your best interests at heart. “You” are the client in this relationship.
The retained search is the vehicle from which you declare: “I’m serious about finding the best match (“candidate”) for our company. Therefore, I am paying DW Simpson a certain percentage of its fee UPFRONT to lock them into helping me find the ideal candidate. This will expedite our search process and almost guarantee that Mr./Ms. Right Candidate will come along and we will make beautiful actuarial music for
some time to come.” In theory AND in practice, this works.
In the past 20 years, DW Simpson has been successful in over 95% of its retained searches. However, in the personal relationship world, it might be a tad offensive and insulting to offer to pay your love interest to lock them in. That’s a much different profession.