What Is Retained Executive Search? A Plain-English Guide for Irish Businesses
If you’ve started looking for a CEO, CFO or other senior leader, you’ve probably come across the term retained executive search. But what does it actually mean, and is it the right model for your hire?
This guide answers both questions plainly. No jargon, no sales pitch, just a clear explanation of how the model works and when it makes sense.
| Quick Answer: Retained executive search means you pay a search firm a fee upfront (in stages) to run a dedicated, exclusive search on your behalf. Unlike contingency recruitment, the firm is fully committed to your mandate, not racing three other agencies to send CVs first. |
Retained vs Contingency Executive Search: The Core Difference
Most senior hiring decisions come down to a choice between two models. Here’s the clearest breakdown:
| Retained Search | Contingency Search | |
| Who pays | Staged fees – upfront commitment | Success fee only – no upfront cost |
| Exclusivity | One firm, fully committed | Multiple agencies compete |
| Candidate pool | Full market incl. passive candidates | Active jobseekers only |
| Confidentiality | Fully controlled | Role often advertised publicly |
| Quality of process | Research-led, deep assessment | Volume-based, faster but shallower |
| Best suited for | CEO, CFO, MD, board-level roles | Mid-level and non-critical roles |
Bottom line: for senior hires where the wrong decision has real consequences, retained search delivers a better outcome. For volume or mid-level hiring, contingency can work well.
The 3 Phases of a Retained Executive Search
Retained search has a clear structure. Here’s what each phase involves:
Phase 1 – Engage & Define (Weeks 1–2)
The search firm meets with key stakeholders to understand the business, the role, and what success looks like. A detailed brief is agreed, including the ideal candidate profile, compensation range, and timeline.
Phase 2 – Research & Outreach (Weeks 2–8)
The firm maps the market identifying every credible candidate, including those currently in post and not looking. They approach candidates confidentially, gauge interest, and begin qualifying.
Phase 3 – Shortlist, Interviews & Placement (Weeks 6–14)
Qualified candidates are assessed in-depth and a shortlist of typically 4–6 is presented to the client. The firm facilitates interviews, manages the process, and supports offer negotiations through to acceptance.
| Typical Timeline for Retained Executive Search in Ireland: Brief agreed → First outreach: 1–2 weeksFirst outreach → Shortlist ready: 4–6 weeksShortlist → Accepted offer: 3–5 weeksTotal: 10–14 weeks (longer for complex or highly confidential mandates) |
When Should You Use Retained Executive Search?
Not every hire need retained search. Here’s a quick checklist to help you decide:
| Scenario | Retained | Contingency |
| Hiring a CEO, CFO, CTO, CMO, CHRO, CPO or MD | ✔ | |
| Confidential search (current incumbent unaware) | ✔ | |
| Hard-to-find skill set or niche sector experience | ✔ | |
| Board-level or non-executive director appointment | ✔ | |
| Speed is the priority over thoroughness | ✔ | |
| Volume hiring across multiple similar roles | ✔ | |
| Mid-level management or specialist hires | ✔ |
If you’re hiring at CEO, CFO or other board level, retained search isn’t a luxury, it’s the appropriate tool. See how Azon’s retained search model works →
How Much Does Retained Executive Search Cost in Ireland?
Retained search fees are typically structured as a percentage of the placed candidate’s first-year total compensation (base salary + bonus). Standard market rates are:
• 25% – 33% of first-year total compensation for CEO and C-suite roles
• Fees paid in 3 stages: on engagement, on shortlist delivery, on placement
• A rebate or replacement guarantee applies if the hire leaves within an agreed period (usually 6–12 months)
The upfront nature of the fee is a feature, not a bug. It means your search firm is financially committed to your outcome, and has the resources to run a proper, dedicated process.
What to Look for in a Retained Executive Search Firm in Ireland
Not all retained search firms are equal. Before you commit, check for:
Sector Expertise
A firm that has placed leaders in your sector understands what good looks like. Generic executive search firms struggle with niche or technical briefs.
Local Market Depth
Ireland’s senior executive market is small. Your search firm should know the key players, the career histories, and the informal networks, not just what LinkedIn shows.
Senior Consultant Involvement
Find out who will lead your search day-to-day. If a senior partner wins the business but delegates to junior staff, your search quality suffers.
Genuine Confidentiality Process
Ask specifically how they manage confidential outreach. A good firm has a clear protocol — and won’t post your role on job boards without your sign-off.
Transparent Process and Communication
You should receive regular progress updates, market intelligence, and honest feedback throughout the process, not just a shortlist arriving in your inbox.
Azon is a retained executive search firm operating across Ireland and Dublin. We work with boards, CEOs and HR Directors on C-suite and senior leadership mandates. Learn more about our approach →
Frequently Asked Questions
What does retained mean in executive search?
Retained means the client pays a fee upfront to secure the search firm’s exclusive commitment to the mandate. Fees are staged across the engagement, not paid as a single success fee at the end.
Is retained search always better than contingency?
For senior and confidential hires, yes. For volume or mid-level roles, contingency can be faster and more cost-effective. The model should match the importance and complexity of the hire.
How long does retained executive search take?
Typically, 10–14 weeks from brief to accepted offer. Shortlists are usually ready within 4-6 weeks.
Do retained search firms guarantee their placements?
Reputable retained search firms offer a rebate or replacement period. Always confirm this before signing.
Can a retained search be done confidentially?
Yes. Confidential searches are a core part of retained executive search. At Azon, we manage fully confidential CEO and CFO searches regularly. See our CEO recruitment service →
Who uses retained executive search in Ireland?
Boards of privately owned businesses, PE-backed portfolio companies, multinationals, family businesses, and public sector organisations all use retained search for senior hiring.
| Thinking About Retained Executive Search for Your Next Hire? Speak to our team – no obligation, fully confidential.We’ll tell you honestly whether retained search is the right model for your role.Visit: azon.ie/headhunter-services |
Azon is a retained executive search firm headquartered in Dublin. We specialise in CEO, CFO, board and C-suite search across Ireland. Learn more about our services →