Engaging with recruiters as a key element of successful career management
Headhunter/?hed?h?n(t)?r/ Noun
A race of subhuman bipedal hominids, slightly above the attorney on the evolutionary ladder, characterized by their constant hounding of you when you are employed, and their ignorance of your existence when you’re not.
Source: Urban Dictionary
Several years ago, I sat across the table from a man characterizing recruiting calls as “a distraction.”
“But you respond to them, right?” ?I asked.
“You offer to be helpful?”
“At the very list you keep their contact information handy?”
This man not returning headhunter calls was my husband. We had been married for 11 years! One could reasonably expect him to understand the role recruiters play in the career management game, not as a distraction to his professional relationships and long tenures, but as an augmentation.
“No offense. But recruiting calls are a distraction.” I hear this a lot.
I am going to offer you the same advice I gave my own husband, with perhaps slightly more tact and less incredulousness.
It’s true. Recruiting calls are a distraction. AND you should still engage.
Let’s explore why and how.
Why is engaging with recruiters a key element of successful career management?
1)??Access: Executive recruiters represent a significant percentage of senior level opportunities in asset management. For example, 49% of the distribution moves I surveyed in 2020 happened through executive search. (1)
2)??Agency: being in the flow of opportunities puts you in the driver’s seat of career decisions and at less risk of being caught flat footed by the unexpected (performance, turnover, change in strategic direction etc.)
3)??Generosity: a role may be of interest to someone in your network; it’s an opportunity to pay it forward.
4)??Market intelligence: exchanging insights with recruiters is a great way to stay current on the environment. *Reciprocity matters here.
How to engage within the realities of being stretched too thin already? ?
1)??Selectively: time constraints and confidentiality concerns are real. A recruiter’s reputation or quality of approach are often your only indications of their professionalism. Respond judiciously.
2)??Thoughtfully: create a connection that will serve you well long term while extracting yourself from immediate distraction, if that is your wish.
I am in awe of my fundraising/IR network. How you satisfy so many competing constituencies for your time, remain positive and optimistic in the face of a fiercely competitive environment, and how you level up year after year as the bar is raised ever higher. You’re strong in so many seemingly paradoxical areas at once: technical, relational, collaborative, competitive, systematic, opportunistic, polished, scrappy, dynamic, driven, humble, entrepreneurial, politically astute……the list goes on.
It's no wonder you need to stay laser focused on your day job given these expectations.
So, in the spirt of not producing yet another industry fluff piece, I created templates for you. You’re welcome ??
How to respond selectively and thoughtfully within the reality of limited bandwidth?
Elements of a great response:
Example A:
“Hi Laurie, thank you so much for thinking of me on this one. I am really happy at X firm but always happy to jump on a quick call. I can try and help with recommendations and it would be great to catch up in general and exchange market insights. Would any of these dates/times work for you?” ?
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Example B: ??
“Hi Laurie, thank you so much for thinking of me on this one. I am really happy at X firm; I am focused on raising capital for our X fund and am excited to grow the business in the near term. Things are crazy and I can’t accommodate a call right now but hopefully the below is useful: ?
I would love to run a BDIR effort at some point so please keep me in mind for leadership roles longer term. Hopefully I can accomplish that here, but you never know what the future holds. Getting my family back to the West Coast would be plus.
Meantime, you might consider reaching out to X on this mandate. I have no idea if she is open to a new role but she’s fantastic and she’s the person I would want on my team for this. Please feel free to let her know I suggested she would be a great person to network with.
Also, he’s not right for this one, but you should have X on your radar screen as I know he’s actively looking for a new role. ?
Hope all is well with you and your family!”
Example C:
“Hi Laurie, it’s great to hear from you. I am so sorry you’ve had to stalk me on this one. Honestly, I am running flat out and can barely keep up. I have zero bandwidth to focus on anything else right now. Let’s connect later this summer!” ?
This one is 100% alright as well. It wasn’t the outcome I was hoping for, but I respect the response and the honesty.
I hope you’re all having a great summer. Please consider staying connected to your favorite headhunters while you’re out there crushing it and enjoying some well-deserved vacation time!
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(1) 2021 Talent and Compensation Report in Institutional Fundraising & Investor Relations
In Willow Hill’s 2021 Report: Talent and Compensation in Institutional Fundraising & Investor Relations, 73 respondents who had changed jobs in the prior year shared how they landed their new role: 49% cited an executive recruiter.
If you’re curious about the other 51%:
25% general referrals/networking
16% a direct prior relationship
6% HR/internal recruiting
4% LP recommendation
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Laurie Thompson is the founder of Willow Hill Advisors, a retained executive recruiting and career advisory firm.
Prior to founding Willow Hill in 2019, Laurie spent 16 years in the financial services practice of a large global executive search and leadership advisory firm.
Laurie works in close partnership with hiring managers and human resources professionals to build exceptional fundraising and investor relations teams while supporting client-facing professionals in reaching and sustaining individual peak performance.
Laurie launched the “Ask me Anything” series in 2022 with the intention of offering candid insights and advice as themes emerge from her conversations with prospective candidates and hiring managers.
A former boss once quipped “Laurie’s directness can be a surprise to the uninitiated.”?
Welcome to Ask me Anything. Consider yourself initiated!
Topic ideas are welcome and appreciated. Please reach out via: [email protected]
On deck:
#4 "Should I try and secure one of these crazy comp packages I am hearing about?"
Executive Search - Investment Banking/Private Equity
2 年LOL we are humans (no subhumans allowed) hunting for humans ?? But with generally rewarding possibilities, not with intent to destroy ??