Info You Should Know About Working with Executive Recruiters
1) Individuals don’t pay charges to look firms.
Executive search firms are paid by the companies who hire them to fill a position, typically a price of one-third of the job’s first-yr compensation. Search firms are usually not working for you, but for their paying clients. Therefore, don’t count on firms to be overly responsive while you contact them. In case your resume is impressive, they might add you to their database of executives. Recruiters could contact you if they’ve a position that fits your profile or to ask you to advocate other people who is likely to be interested in the job. In either case, you will be starting the process of building a relationship with the recruiter. Every phone call or assembly will probably be noted within the firm’s database.
2) The distinction between retainer and contingency search firms is important.
There are two types of recruiters: Retainer and Contingency. Each cost the client employer a payment and neither should ever charge the prospective employee. The distinctions between retainer and contingency firms are:
Retained Search Firms: Retainer recruiters are hired by a consumer firm for an assignment, typically for ninety-a hundred and twenty days, and are paid regardless of the outcomes of the search. They may also be kept on retainer by their purchasers, to fill whatever assignments they have. One retainer firm is hired by a shopper company for a given job opening. They are more usually used to fill higher-level positions with salaries of $75,000 and above. For these assignments they will assemble a short “slate” of candidates. Due to this fact, if a retainer firm seriously considers you for a position, you will probably be part of a small group of candidates. While your file is being utilized by a retained recruiter for an assignment, no different recruiter at that firm can contact you, even in the event you would be the right candidate. Because of this, you’re unlikely to be contacted by a firm for more than one or positions a yr, at most. Should you work for a corporation that has hired the search firm over the past 12 months or two, you will be “off-limits” for every other position it may have, regardless of how well qualified you are. For this reason alone, it is important to be known to multiple search firms.
Contingency Search Firms: Contingency recruiters are more usually used for junior and mid-level executives, typically for positions with salaries beneath $75,000. Contingency recruiters obtain payment only when their candidate is hired. Contingency recruiters do not often work on an unique basis with their clients. Since they are competing with different recruiters to provide candidates for each assignment, they tend to work fast and to submit to the client firm as many candidates as they can. This means you might be one in all many candidates for a given job. Contingency recruiters provide you with a great deal of publicity, since they send many resumes to their clients. This might be useful to you early in your career or if you are unemployed. However, bear in mind that you may not always need your resume widely distributed in case you are joyful in your current job. When a headhunter calls you, it may be hard to tell whether or not they’re from a contingency or retainer search firm. Kennedy’s Directory of Executive Recruiters will make clear that information. Even so, contingency firms sometimes work on a retainer foundation and some retainer firms do contingency work from time to time. Our advice is to ask explicitly the nature of the assignment earlier than giving your permission to any recruiter to distribute your resume.
3) Some search firms specialize, while others don’t. Consider each kinds.
Recruiting firms are often generalists, covering many different administration capabilities (e.g. sales) and industries (e.g. textiles). Quite just a few firms and lots of individual recruiters, nonetheless, do specialize. To make your search as effective as doable, consider recruiters who cover your perform and specialize in your industry. Generalist firms shouldn’t be ignored, especially at the higher executive ranks. The largest a number of-office search firms tend to cover all features and industries, however will typically have observe areas for particular areas of expertise.
4) Most recruiters work nationally, so don’t limit your search by geography.
At the lower salary levels, companies may be reluctant to consider out-of-town executives because of the expense of interviewing and relocating them. In these instances, search firms might focus on native candidates. Nonetheless, for a lot of executive appointments, search firms will look nationally and even internationally. It’s in your interest to be known to go looking firms who fill positions in your trade, perform and salary range, regardless of the place they are. A New York recruiter is as likely to have an assignment in Los Angeles as in Boston.
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