Professionals Using Executive Search Firms to Open New Doors

Many of the world’s top companies have turned to search firms (A.K.A. executive search or recruiting agencies) over the last decade to meet their hiring demands. Most jobs being handled by a search firm are never posted publicly. That means that the only way to be considered for such jobs is to have your resume in the hands of the search firm that is filling the position. So is a search firm right for you? Here are some thoughts to keep in mind:

You do not pay executive search firm. The company hiring the search firm pays the fee; this is typically a percentage of your first year’s compensation. Plus expenses and other associated costs.  Therefore they will never let marginal candidates waste their valuable time.  They are always on the clock of the employer. 

The difference between retainer and contingency search firms is important. 

Retainer firms tend to fill higher-level positions (typically $75K and up). A single recruiter or specialty division manages your resume and you are considered for only 1-2 positions. The recruiter never permits your resume to be “passed around” to clients in hopes of matching future openings. All resume submissions to clients are authorized by you the candidate.

Contingency firms tend to fill junior and mid-level executive positions ($70K and below). Recruiters submit your resume for many positions but all jobs may not fit your ideal profile. Contingency recruiters tend to send many resumes to their client companies and competition for each position is tougher. The Pailin Group is not a contingency firm.

Many search firms do both retainer and contingency work. Understand the scenario for which you are being considered and ensure this is the best fit for your career search.

Some agencies specialize, others don’t. There are benefits to both. However if you have a specific industry or skill interest, a specialized agency may have a relationship with an employer that would otherwise be closed to you. Ask about their clients and the types of backgrounds they seek

Resumes are still the best contact method. To establish relationships with executive recruiters, send a resume and cover letter. A search firm typically will contact you only if your resume fits an open position. It is not wise to send resumes to multiple firms only those that have substantial expertise and market share. Help your colleagues by referring the firm you trust. Recruiters value referrals. They probably put more stock in them over unsolicited inquiries. Getting referrals from talented professionals, current and former candidates and customers are most welcomed by firms with market longevity. Don't forget to help your recruiter by referring recruiting business too.  Let them help your current company just as they have helped you!