When hiring for governance-critical roles, choosing the right recruitment model can make all the difference. For law firms and financial services organisations navigating compliance, regulatory risk and cybersecurity hiring in the UK, the decision often comes down to two approaches: retained search recruitment or contingency recruitment.
Both models have their place – but each suits different needs. Here’s what you need to know.
What Is Retained Search Recruitment?
Retained search recruitment is a proactive, partnership-led approach. You engage a recruiter exclusively to manage the full hiring process for a specific role – typically for senior, specialist or confidential positions.
As a retained executive search firm, Middlesex Partnership invests time in market mapping, discreet outreach, and rigorous shortlisting. This model is ideal when you need:
- In-depth research and candidate assessment
- A confidential approach to sensitive roles
- Strategic alignment with internal stakeholders
- A guaranteed, committed search process
- Better – long-term outcomes with more committed candidates
Because retained search recruitment involves exclusivity and upfront commitment, the service level is more comprehensive – from role scoping to final offer negotiation.
What Is Contingency Recruitment?
Contingency recruitment is success-based – your recruiter only earns a fee once a candidate is placed. There is no exclusivity, and in many cases, multiple recruiters may be working on the same brief.
The downside of contingency especially in a multi-step process is that recruiters are looking for the most easily accessible candidates who are often looking for a new role rather than taking the time to do an in-depth search for passive candidates who are happy in their current role.
This model is faster and works best when:
- The role is urgent or low to mid-level.
- Candidate supply is strong.
- Internal HR or hiring teams are involved in early screening
While contingency can deliver speed, it may lack the depth and tailored focus of a retained search. For compliance recruitment or senior cybersecurity roles, this trade-off can impact quality.
Which Model Is Right for You?
The right choice depends on your priorities.
If you’re hiring a compliance lead, Chief Information Security Officer, or Risk Director – a retained executive search firm will deliver focused expertise and accountability. It’s also the right fit when cultural alignment and confidentiality are critical, as well as when seeking longer-term commitment.
For more transactional or volume-based hiring, contingency recruitment may be appropriate – particularly if internal hiring resources are stretched.
Many financial services and law firms across the UK use both models – depending on the role. Some even start with contingency, then switch to retained when the brief proves challenging.
Compliance Hiring Needs a Strategic Approach
In governance-focused roles – where the cost of a mis-hire is high – many employers prefer retained search recruitment. It offers more than just CVs: it brings assurance, depth, and a structured process.
At Middlesex Partnership, we provide both retained and contingency services. We work with law firms and financial services clients across the UK, placing professionals in compliance, regulatory risk management and cybersecurity roles.