Info You Should Know About Working with Executive Recruiters

1) People don’t pay charges to go looking firms.

Executive search firms are paid by the companies who hire them to fill a position, typically a fee of 1-third of the job’s first-year compensation. Search firms aren’t working for you, however for his or her paying clients. Therefore, do not count on firms to be overly responsive once you contact them. In case your resume is impressive, they might add you to their database of executives. Recruiters could contact you if they have a position that fits your profile or to ask you to recommend different individuals who could be interested within the job. In either case, you will be starting the process of building a relationship with the recruiter. Every phone call or meeting will probably be noted within the firm’s database.

2) The difference between retainer and contingency search firms is important.

There are two types of recruiters: Retainer and Contingency. Each charge the client employer a payment and neither should ever cost 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-one hundred twenty days, and are paid regardless of the results of the search. They may even be kept on retainer by their shoppers, to fill no matter assignments they have. One retainer firm is hired by a client firm for a given job opening. They are more typically used to fill higher-level positions with salaries of $seventy five,000 and above. For these assignments they will assemble a brief “slate” of candidates. Therefore, if a retainer firm severely considers you for a position, you will probably be part of a small group of candidates. While your file is being used by a retained recruiter for an assignment, no different recruiter at that firm can contact you, even should you could be the right candidate. Consequently, you’re unlikely to be contacted by a firm for more than one or two positions a 12 months, at most. If you happen to work for an organization that has hired the search firm over the last yr or two, you will be “off-limits” for any other position it may have, no matter how well qualified you are. For this reason alone, it is important to be known to a number of search firms.

Contingency Search Firms: Contingency recruiters are more often 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 usually work on an unique foundation 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 consumer company as many candidates as they can. This means you could be one in every of many candidates for a given job. Contingency recruiters provide you with an excessive amount of publicity, since they ship many resumes to their clients. This might be useful to you early in your career or in case you are unemployed. Nonetheless, bear in mind that you could be not always want your resume widely distributed if you’re completely happy in your present job. When a headhunter calls you, it might be hard to tell whether they’re from a contingency or retainer search firm. Kennedy’s Directory of Executive Recruiters will clarify 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 before 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 various management functions (e.g. sales) and industries (e.g. textiles). Quite a number of firms and many individual recruiters, nonetheless, do specialize. To make your search as efficient as potential, consider recruiters who cover your function and specialise in your industry. Generalist firms should not be ignored, especially on the higher executive ranks. The biggest multiple-office search firms are inclined to cover all capabilities and industries, however will usually have apply areas for particular areas of expertise.

4) Most recruiters work nationally, so don’t limit your search by geography.

At the lower wage levels, corporations may be reluctant to consider out-of-town executives because of the expense of interviewing and relocating them. In these situations, search firms could deal with local candidates. However, for many executive appointments, search firms will look nationally or even internationally. It’s in your curiosity to be known to look firms who fill positions in your business, perform and wage 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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