Retained Search

They overlap heavily and the terms get used interchangeably, but they describe different things. Retained describes how the firm is engaged and paid. Executive search describes the seniority of the role. Most executive appointments run on a retained basis, and retained engagements are also used well below executive level whenever the relevant market is small enough to justify the research.

It defeats the point. Exclusivity is what makes the research investment rational for the firm, so a retained consultant working alongside contingency competitors will sensibly cut the mapping work and revert to sending known names quickly. If you want several firms competing, use contingency terms and accept what that model produces. Pick one approach per role instead of blending them.

The market map with the organizations and role types covered, how many people were approached, how many engaged, the reasons given by those who declined, and the assessed shortlist with evidence against the agreed criteria. Anything learned that should change the brief belongs there too. Feedback about pay expectations or an unrealistic requirement is often the most valuable output, however unwelcome.

That depends entirely on the engagement letter, so read it before signing. Common arrangements include a defined extension at no further fee, a replacement search within a set period, or staged instalments that simply stop. Some agreements offer nothing beyond work performed. Agree the position in advance, along with what happens if the role is canceled or the specification changes materially mid-search.