The Value of Retained Searches in Physician and Leadership Recruitment

As a niched specialty search firm with decades of experience, Corazon is often surprised when we are discussing the need for physician and leadership roles that are critical to an organization’s bottom line—only to be told there is a strict policy of working exclusively with multiple contingency firms. “We don’t do retained searches.”

This perspective is frequently shared by internal recruitment professionals who understand that effective recruiting knowledge is developed over many years of experience. They know how essential it is to evaluate both the technical competencies and the human characteristics of each candidate, and how delicate the balance must be to keep the search process moving forward productively.

Yet, when these high-impact roles become open, the strategy often shifts to contacting multiple agencies with rotating teams that are simply “filling orders” as they come in—often with limited understanding of the role, the organization, or the underlying reason the position exists. Will those agencies truly understand why one candidate stands head and shoulders above the rest? Or why a compensation structure that appears higher than market may actually be essential to securing the right leader?

Yes, retained searches involve an upfront investment. Yes, they require deeper engagement from multiple stakeholders across the organization. But shouldn’t that be expected given the importance of these roles—and the major cost of a bad hire?

A quick comparison of retained versus contingency searches consistently highlights the same common-sense advantages of the retained approach:

1. Higher priority level
2. Lower risk of bad hires
3. Higher quality of candidates
4. Ability to identify rare skill sets
5. Proactive approach
6. Dedicated resources
7. Customizable search strategy
8. Deeply vetted candidates

If any—or all—of these elements are important to a search (and how could they not be in an ideal world?), they are nearly the opposite of the speed-driven model that contingency firms rely on to succeed. In contingency recruiting, it’s often “get the placement or get nothing,” particularly when multiple firms are competing for the same role.

Knowledge is the foundation of successful, long-term placements. Knowledge that a seasoned recruiter brings to candidates to fully engage them in the process—understanding that this is not just “a new job,” but often a new world for the candidate and their entire family. Knowledge shared by the internal team about what made previous leaders successful—or unsuccessful—so the search focuses on traits and fit, not just a checklist from a CV.

That same depth of understanding allows recruiters to provide meaningful insights to clients throughout the process: candidate presentation, screening, onsite interviews, offer development, and contract facilitation—ensuring the final outcome feels like a success for all parties.

At first glance, it may seem financially prudent to let multiple contingency firms compete for candidates who are often being presented simultaneously to numerous job orders. But the risk continues as those candidates engage with the organization, visit onsite, and ultimately sign on—sometimes motivated more by speed than by alignment—simply to secure a lower, one-time fee.

For leaders accountable for high-performing clinical programs and strong financial results, recruitment strategy matters. The ripple effect of a long-term vacancy—combined with the revenue at stake—can be significant. No one wants to be the weak link in that chain.

Corazon encourages organizations to carefully evaluate their recruitment options and understand which approach best supports long-term success for the roles that matter most.

By Steven Geyer