Definitions
- Referring to a contractual agreement between a client and a professional to provide ongoing services for a set period. - Talking about a long-term relationship between a client and a service provider. - Describing a situation where a professional is retained by a client to provide services as needed.
- Referring to the process of recruiting and selecting a candidate for a job or position. - Talking about the act of engaging someone's services for a specific task or project. - Describing the process of bringing on board an employee or contractor for a company or organization.
List of Similarities
- 1Both involve engaging the services of a professional.
- 2Both can be used to establish a long-term relationship.
- 3Both require a contractual agreement between the parties involved.
- 4Both can be used to obtain specialized skills or expertise.
- 5Both can be used to meet the needs of a client or organization.
What is the difference?
- 1Duration: Retainership is typically a long-term arrangement, while hiring can be short-term or long-term depending on the needs of the client or organization.
- 2Scope: Retainership involves ongoing services, while hiring can be for a specific task or project.
- 3Flexibility: Retainership allows for more flexibility in terms of the services provided, while hiring is more structured and focused on specific tasks or roles.
- 4Payment: Retainership involves a regular payment to the professional, while hiring may involve a one-time payment or payment based on completion of specific tasks.
- 5Relationship: Retainership emphasizes a long-term relationship between the client and professional, while hiring may be more transactional in nature.
Remember this!
Retainership and hiring both involve engaging the services of a professional, but they differ in terms of duration, scope, flexibility, payment, and relationship. Retainership is a long-term arrangement that involves ongoing services and emphasizes a long-term relationship between the client and professional. In contrast, hiring can be short-term or long-term, focuses on specific tasks or roles, and may be more transactional in nature.
