1. A recurring question
When a company engages a recruitment firm, one question often arises from the very first discussions:
Should it opt for a retained search model or a success-based recruitment model?
The question is a legitimate one. However, behind the billing structure lies a more fundamental issue: how risk, commitment, and responsibility are shared between the recruitment firm and its client.
2. Two models, two approaches to risk sharing
In the recruitment of qualified professionals, experts, and executives, two main models coexist.
Success-based recruitment
Under this model, the recruitment firm is paid only when the selected candidate signs an employment contract with the client company.
The advantage for the client is obvious: there is no upfront cost.
In return, the recruitment firm assumes the full financial risk of the assignment. It invests time, mobilizes resources, conducts research, approaches candidates, and manages interviews without any guarantee of payment.
This model can be particularly reassuring for companies that have previously had disappointing experiences with recruitment partners.
Retained recruitment
Under this second model, part of the fee is paid at the start of the assignment.
This retainer covers all the work carried out during the initial stages of the search, including:
market analysis,
mapping of key market players,
identification of target talent,
candidate assessment and qualification,
management of the recruitment process.
Even when a search does not ultimately result in a hire, this work has been completed and represents tangible value for the client.
This model is generally built on a more committed partnership approach between both parties.
3. Why do some clients prefer success-based recruitment?
We regularly observe that companies that favor success-based recruitment have often had unsatisfactory experiences in the past.
Some have already paid a retainer to a recruitment firm without achieving the expected results. As a result, they seek to limit their financial exposure when entering into new partnerships.
This approach is entirely understandable.
In many cases, choosing a success-based model is less about cost and more about trust.
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For over 15 years, we have collaborated with leading financial institutions and insurance firms. As market leaders in France, we are entering a phase of acceleration, with ambitious projects planned over the next three years. Our goal is to solidify our presence in France while expanding primarily into Germany and Luxembourg to strengthen our position across Europe. Explore our open positions or contact us if you are currently recruiting in our niches.
4. Why do others choose a retainer?
Conversely, many companies prefer a retained search model when they have identified a recruitment firm whose quality of work they know firsthand or that has been recommended to them.
In this context, the retainer is no longer perceived as a risk, but rather as an investment in a specialized professional service.
It often helps strengthen the working relationship between the recruitment firm and its client, positioning the assignment within the framework of a long-term partnership.
5. A recruitment outcome never depends solely on the recruitment firm
Whatever the model chosen, one reality remains: the success of a recruitment assignment depends on many factors.
The recruitment firm naturally plays a central role in identifying and assessing talent.
However, several other elements have a significant impact on the outcome of a search, including:
the attractiveness of the company,
the compensation package being offered,
the quality of leadership and management,
the responsiveness of the hiring process,
the candidate experience,
the company’s ability to convince targeted professionals to join.
Even the most thorough search efforts can fail when a candidate receives a more attractive offer elsewhere or when the decision-making process becomes excessively prolonged.
Recruitment remains, above all, a collaborative effort.
6. What truly makes the difference
With experience, we have found that the most successful recruitment assignments are primarily driven by three key factors:
Trust
Conversations are transparent regarding market realities, compensation levels, and talent availability.
Mutual commitment
The recruitment firm invests its expertise and resources. The client commits to being available, responsive, and actively involved throughout the process.
Alignment
Expectations, working methods, and objectives are clearly defined from the outset.
When these three conditions are in place, the fee structure often becomes a secondary consideration.
Our conviction
The debate between retained search and success-based recruitment is not about a good model versus a bad one.
Each approach responds to different contexts, constraints, and expectations.
The real question is rather the following:
Does the chosen recruitment firm inspire enough trust to become a true recruitment partner?
Because beyond contractual terms, it is the quality of the support, sector expertise, transparency, and the commitment of both parties that ultimately determine the success of a search.
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Auteur : Emerique Opou
Funder and CEO of Emérique & Partners
London, United Kingdom
Named to Staffing Industry Analysts’ Global Power 150 Women in Staffing list in 2022, Emérique brings over 15 years of expertise in recruiting highly specialized talent across banking, insurance, and asset management.
Her extensive pan-European experience has allowed her to build a robust network of professionals, particularly in actuarial science, quantitative finance, risk, audit, and compliance.
Under her leadership, Emérique & Partners has achieved remarkable industry recognition:
- Finalist, ‘Entrepreneur of the Year’, Recruiter Awards, London 2024
- Finalist, SME National Business Awards – ‘Business Woman of the Year’, UK 2024
- Winner, Agency Recruitment Team of the Year (<20 employees), 2025
- HBC Woman Leader Award (Diamond), 2025
Emérique Opou focuses exclusively on executive and senior management recruitment, delivering tailored solutions for permanent and freelance positions.
Every quarter, Emérique analyses key trends in the French and European banking and insurance markets, ensuring her clients stay ahead in a rapidly evolving industry.
If you operate in the banking or insurance sector and are looking for niche permanent or contract talent, reach out to Emérique & Partners :
