Articles

Utilizing Executive Recruiters

What does a recruiter do?

A search firm is paid by client companies to recruit candidates with specific skill sets and experience. We evaluate and present people who match the company’s requirements and therefore reduce their time commitment in finding and interviewing a great volume of candidates. From the candidate’s side, if they receive an interview with the client, the percentage chance of an offer being received is remarkably better than through some other channels.

Retained Vs. Contingent

Like most industries executive search has various types of companies performing similar work but with different methods and results.

Retained firms are paid by the client for performing the search process in a thorough and professional manner. Typically, the relationship is exclusive with only one firm working the search. Retained firms are compensated on a progress basis as the search is performed. Most executive and upper management level opportunities will be handled on a retained basis.

Contingent firms are most similar to the real estate industry; the search firm earns a placement fee (commission) when the person begins working. Typically, the commitment between the client and the search firm is not very deep and the company may be using multiple recruiters to fill the same position. Some contingent firms have been known to mail resumes to literally hundreds of companies in hope of placing someone. This can actually be a detriment to someone who is actively conducting a job search as companies may receive duplicate resumes and lose interest.

Why do companies use search firms?

• Confidentiality
• Too busy to do it on their own
• Don’t know competitor’s people
• Recruiter specialty
• Already tried and couldn’t find anyone

How to work effectively with recruiters?

• Don’t try to work with too many in one region.
• Ask about their specialty, if they can’t help, ask about other recruiters who work with people in your field.
• Provide a copy of your resume before going deeply into your history. Indicate salary history, geographic constraints and desired position in your correspondence. Also, indicate that you are conducting an active search and request that your resume not be forwarded to any company without discussing the position with you first.
• Don’t expect immediate results, it’s largely a matter of timing. If the recruiter has relatable searches for you, they’ll let you know.

Current Business Conditions

Most search firms are currently busy. We have seen an increase in the average position level and salary over the last two years. Companies are having a hard time attracting qualified people as business conditions are generally good. Fewer people are interested in changing jobs as business conditions have provided equity and bonus opportunities. Therefore, small to medium sized businesses face a challenging time when someone leaves as they don’t have the depth of a large corporation. The small to medium sized company has become a very active market for executive search as the need is critical and immediate.

Should executive search firms be a part of my job search?