Introduction
Retained recruitment (also known as Executive Search or Headhunting) usually occurs for particularly senior or hard to fill roles. Under retained terms, you would usually be the sole supplier looking to fill the job, and paid over multiple stages of the recruitment workflow such as being retained to work the job, on shortlisting/submitting applicants and finally when the placement is made. Confirmed staged charges will be reflected in the financials of relevant itris reports.
This article is an extension of the articles New Job, Job Record, New Placement and Placement Record and focuses on the specific Retained functionality in those areas.
New Job and Job Record
At the point of creating a new job, you are able to select it as a Retained job. All work types can be created as a Retained job, however, for Contract and Temp Retained jobs the charge options will be restricted to a One off (Fixed) Fee. Additionally, unlike Contingency jobs a Retained job will be restricted to one role.
The Recruitment and Work Type are displayed under the details tab of the New Job form.
On the Job Record the Recruitment Type (e.g. Contingency or Retained) is displayed under the Additional tab.
Pay & Charge Schedule
The Pay and Charge Schedule is where you will add the expected Pay range, Total Charge and the Charge Schedule. This is initially added in the new job form but can be amended on the Job Record if necessary. For Permanent jobs, the Total Charge can be either a percentage or One off fee, but for any retained Contract or Temporary jobs, this will be a One off fee.
Under the Charge Schedule any Retainer data list items set in the itris Management Utility as default items will automatically show here alphabetically, along with Placement as the final stage. For more information on this data list see the article Data | List Items.
Each stage can be set as either a percentage (of the overall charge) or a one off fee, and the value of each is shown to the right.
Further stages can be added to the schedule if required.
On the New Job Form, the Pay and Charge Schedule is displayed under the details tab.
On the Job Record, this information is also under the details tab. Pay, Total Charge and Charge Schedule can each be clicked to load the Manage Pay & Charge form.
Confirming Scheduled Charges
At the point a payment is received this can be confirmed via the Manage Pay and Charge form by clicking on Confirm Charge and completing the details.
This will display in the form along with an option to undo.
Once saved, this displays on the job record under the Charge Schedule with a tick.
Confirmed Charges will form part of the Value reporting in both the Income Report and User Statistics Report.
The Placement value shown under the Charge Schedule will always show the value set on the job, even if the final placement differs. It is in effect showing the ‘original planned/expected value’. For this reason, on the job record, this stage will never show with a tick (though it will on the corresponding placement).
Placements
When creating a New Placement against a Retained Job the agreed pay and total charge can be adjusted via Manage Schedule.
If a pay range was added on the retained job, itris will automatically pull through the lower amount, but that can be updated here if required.
Once saved, the Placement record will display the values charged (confirmed) at each stage. If any of the pre-placement stage charges were not confirmed on the job their value will be attributed to the placement stage in the charge schedule instead.
The pre-placement stage charges cannot be edited or confirmed on the placement but can be on the job and doing so will adjust the placement stage charge in the charge schedule on the placement accordingly. The Pay and Total Charge values can still be edited which also impacts the placement stage charge in the charge schedule.
One Placement Per Retained Job
Multiple applicant placements are not possible on a Retained Job, so only one applicant can be placed per Retained Job.
If you attempt to make a placement against a Retained Job that already has a placement against it you will receive a Warning in the New Placement Form.
If there are multiple applicants to place you can duplicate the job, please see the Duplicating Job section of the New Job article.