1) People do not pay fees to go looking firms.
Executive search firms are paid by the companies who hire them to fill a position, typically a payment of 1-third of the job’s first-12 months compensation. Search firms usually are not working for you, however for their paying clients. Subsequently, do not anticipate firms to be overly responsive once you contact them. If your resume is spectacular, they could add you to their database of executives. Recruiters might contact you if they’ve a position that fits your profile or to ask you to advocate different 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. Each phone call or assembly will probably be noted in 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 shopper employer a payment and neither ought to ever cost the prospective employee. The distinctions between retainer and contingency firms are:
Retained Search Firms: Retainer recruiters are hired by a client company for an assignment, typically for ninety-120 days, and are paid regardless of the results of the search. They might also be kept on retainer by their shoppers, to fill whatever assignments they have. One retainer firm is hired by a shopper firm for a given job opening. They’re more often 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. 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 used by a retained recruiter for an assignment, no different recruiter at that firm can contact you, even if you happen to would be the perfect candidate. In consequence, you’re unlikely to be contacted by a firm for more than one or positions a yr, at most. When you 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 certified you are. For this reason alone, it is vital to be known to multiple search firms.
Contingency Search Firms: Contingency recruiters are more typically used for junior and mid-level executives, typically for positions with salaries under $75,000. Contingency recruiters obtain payment only when their candidate is hired. Contingency recruiters don’t usually work on an exclusive 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 could be considered one of many candidates for a given job. Contingency recruiters provide you with quite a lot of publicity, since they ship many resumes to their clients. This can 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 are completely happy in your present job. When a headhunter calls you, it can be hard to inform whether or not they are from a contingency or retainer search firm. Kennedy’s Directory of Executive Recruiters will make clear that information. Even so, contingency firms often work on a retainer basis and some retainer firms do contingency work from time to time. Our advice is to ask explicitly the character of the assignment before giving your permission to any recruiter to distribute your resume.
three) Some search firms specialize, while others don’t. Consider both kinds.
Recruiting firms are often generalists, covering many different administration features (e.g. sales) and industries (e.g. textiles). Quite a couple of firms and lots of particular person recruiters, however, do specialize. To make your search as efficient as possible, consider recruiters who cover your function and specialise in your industry. Generalist firms should not be ignored, particularly on the higher executive ranks. The most important a number of-office search firms are inclined to cover all capabilities and industries, but will typically have follow areas for particular areas of expertise.
4) Most recruiters work nationally, so don’t limit your search by geography.
At the decrease wage levels, corporations could also be reluctant to consider out-of-town executives because of the expense of interviewing and relocating them. In these instances, search firms could concentrate on local candidates. Nevertheless, for many executive appointments, search firms will look nationally and even internationally. It is in your interest to be known to search firms who fill positions in your industry, perform and salary range, no matter 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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