The Headhunter conundrum: are they really on your side?

There is a perception in the mind of many executives searching for a new role that once you contact a headhunter, they will do everything possible to look for a role for you.

Well, let me tell you that this is a myth….

Headhunters have two modes of working:

-?????? Retained ( always with exclusivity )

-?????? Contingency or success-fee basis ( sometimes with exclusivity for a few weeks )

?More and more are working on a success-fee basis.

And they are always paid ( a fixed fee or percentage ) by the hiring company.

Therefore the attention goes where money is. And money is with the hiring company.

??? So what does it mean for you?

In the case of retained recruiters, it means that usually they will have up to 5 searches at any given time and will focus 60 to 80% of their attention onto those searches, the rest on finding new mandates. After all, it was hard enough for them to get those mandates.

So when job seekers approach them, there is a quick assessment to see if that person fits into one of the roles they have and if they don’t, well their CV is stored in the ATS/Database of the company for future searches, if deemed “good enough” and a “thank you but nothing for now” email or call is sent/done to the job seeker. Some will not even bother to respond ( and I confess it must have happened to me a few times when I was one of these headhunters, when pressure to deliver shortlists or find new clients was too much).

What you also need to know is that most quality search firms, encourage their retained search consultants to interview “strong job seekers” on the market to build a relationship with them for future roles. But the emphasis is on the “strong job seekers”. The others are usually simply ending in the ATS/Database system, if they are deemed ?to be part of it.

After all, a strong executive that they help to place can become clients in the future. But that is far from being the case all the time. Many "placed candidates" prefer to keep their favourite headhunters “secret”, as they have shared a lot of “personal stuff” with them.

In the case of contingency recruiters, well it’s a different game.

Those recruiters work on “volume”. Why? Because they compete with other recruiters ( external and/or internal) and therefore in order to reach their quota, they need to handle a higher number of searches to make sure they close 2 to 5 per month.

That can go up to 15 searches a month per headhunter!

Those recruiters have even less time to spend with candidates ( they are more like CV senders) – the hiring directors/managers have also less time to provide feedback about each job applicant and so when you approach them either you are fitting with one of searches they handle, if you are lucky, and if not you will end up in their ATS/Database platform for future searches. Those recruiters tend to store “everyone approaching them” into those platforms, as they have no time to assess properly all of them. Do those recruiters have a lot of time to spend with you? Hell no! They have much less time than the retained recruiters. For them time is a luxury they cannot afford. It’s all about speed and volume.

?? So what does that mean to you in both cases?

If you are lucky you will end up being interviewed. If you are not and are what they call “a good candidate”, you will end up in their ATS/Database platform and maybe in a near future your CV will be found for other roles the firm handles.?

What is then the best approach to take from your perspective as a job seeker executive?

Well my take on this is the following:?

-?????? Build a list of executive search firms who work retained in your industry and for the roles you are after. Try to select 30 of them. Large ones and boutique. Do proper research.

-?????? Build a second list of executive search firms who work on success-fee. Try to select 30.

-?????? For each search firm, check the type of roles they advertise ( not all the roles are advertised), or what roles they mention in their services.

-?????? If they advertise their roles, apply to them AND approach the relevant headhunter.

-?????? Check who are the headhunters who work in those firms. “Partners” are very senior and usually only handle the C-level suite roles. Consultants are handling everything.

-?????? Contact the consultants or partners who handle the roles you are after. No point of contacting a partner who handles C-level roles in Germany if you are interested in mid-management roles in the UK. You need to target the right head-hunters to get any chance that they will entertain you. Send them your CV+cover letter by regular 1st class mail.

-?????? Research who are the associates or researchers. Those “guys” are the ones who find “candidates”… the more candidates they have access to, the better.

-?????? Contact all the associates or researchers for the roles you are after. Send them your CV by email.T here is a greater chance that they will put your CV+cover letter in their ATS/Database.

-?????? Try to have at least a Video call with the headhunters or even better a physical meeting. That latter is becoming rarer. For a more lasting impression.

-?????? Send cover letters with your interest, likes and an updated 2-pages max CV.

-?????? Make regular contacts with all of them every two weeks to check if some relevant role has come up. That step is CRUCIAL and will increase your chances to get a role by a thousand-fold.

-?????? Last but not least, try to be as close as possible to two of those headhunters with whom you click the best. After all, headhunters are human and this can go a long way…

?And yes this is a lot of work to do, but I truly believe that if you apply this method, you will get the right role within 1 to 3 months.

In any case, always consider approaching directly the firms you wish to work for, in parallel.

?? If you want me to help you to find those lists of headhunters in your niche and for the roles you are after, drop me a DM with HEADHUNTER.

Until next week.

Warm regards,

Catherine

Career Coach - Mentor - Talent Acquisition Consultant

My website: www.principleselection.com

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