Contingency recruitment means that the recruitment consultants will be paid only if they place a candidate in a position that had been advertised for. This is widely used for mid and senior-level management positions and, at times, may become very competitive in cases where more than one recruitment firm is working on the same openings. At the same time, employers stand to gain as they only get charged if the candidate gets placed, hence minimal upfront expenses.
Consequently, this means a contingency-based recruitment firm needs to be fast and effective when it comes to sourcing and presenting the cream of the crop of their candidates. These high levels of competition generally bring top-caliber agencies, all striving to help their clients in the quickest possible way. To the job seeker, this method brings in more opportunities in a shorter time frame and greater chances to place a candidate into a position where their skills and career goals align.
You may also be interested in learning about these terms:
Contingency Recruitment
Career Path
Position
