1) People don’t pay fees to go looking firms.
Executive search firms are paid by the companies who hire them to fill a position, typically a price of 1-third of the job’s first-yr compensation. Search firms will not be working for you, but for his or her paying clients. Therefore, don’t anticipate firms to be overly responsive when you contact them. If your resume is impressive, they could 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 suggest different people who might 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. Both charge the client employer a fee 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 90-a hundred and twenty days, and are paid regardless of the results of the search. They could also be kept on retainer by their shoppers, to fill no matter assignments they have. One retainer firm is hired by a shopper firm for a given job opening. They are more often 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 significantly 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 other recruiter at that firm can contact you, even if you would be the proper candidate. As a result, you’re unlikely to be contacted by a firm for more than one or two positions a 12 months, at most. For those who work for an organization that has hired the search firm over the last yr or , you will be «off-limits» for any other position it might have, regardless of how well certified 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 below $seventy five,000. Contingency recruiters obtain payment only when their candidate is hired. Contingency recruiters do not often work on an exclusive basis with their clients. Since they are competing with different recruiters to provide candidates for each assignment, they have an inclination to work fast and to submit to the shopper company as many candidates as they can. This means chances are you’ll be one in every of many candidates for a given job. Contingency recruiters provide you with quite a lot of exposure, since they ship many resumes to their clients. This might be useful to you early in your career or in case you are unemployed. However, bear in mind that you could be not always want your resume widely distributed if you are completely satisfied in your present job. When a headhunter calls you, it might 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 sometimes work on a retainer foundation and a few retainer firms do contingency work from time to time. Our advice is to ask explicitly the character 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 both kinds.
Recruiting firms are sometimes generalists, covering many various management functions (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 efficient as doable, consider recruiters who cover your operate and concentrate on your industry. Generalist firms should not be ignored, especially on the higher executive ranks. The most important a number of-office search firms tend to cover all capabilities and industries, but will usually have follow areas for particular areas of expertise.
4) Most recruiters work nationally, so don’t limit your search by geography.
On the decrease wage levels, companies could also be reluctant to consider out-of-town executives because of the expense of interviewing and relocating them. In these instances, search firms might concentrate on local candidates. However, for a lot of 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 business, function 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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