
When talking to executives who are looking for a new job, I have noticed that many believe sending the CV to a headhunter will solve the problem. Unfortunately, it does not work like this.
Executive Search firms are serving their clients. They are not career agents for candidates. When they have a mandate to search for a certain position, Executive Search firms will look for matching candidates from various sources. One source is the internal database. If you have approached an Executive Search firm, given consent to store your data in their database, and you are a match for the search criteria, you will be included in the pool of candidates. The Long List of candidates will be screened to a Short List, processed, interviewed, and assessed, and then, if you are lucky, you will make it to the final Short List. Only after this will you start the screening process in the client organization. All this may take several weeks. It is a no-brainer to understand that the probability of finding a job this way quickly is very low.
To increase the probability, you should contact several Executive Search firms and focus on the ones that work at your level and specialize in your business. Try to approach Partners or senior consultants who specialize in what you are looking for. Typically, Executive Search consultants are busy, and it may be hard to reach them. They might not be interested in talking to you unless, at the moment, you contact them; they are working on an assignment matching your candidacy. It is anyhow worth contacting and trying to discuss with them.
Executive Search firms do not prioritize candidates openly on the job market. They are looking for successful candidates, and the fact that you are in a job search may even raise questions.
Tier 2 recruitment companies work mostly on contingency (no cure, no pay). Their business logic is different from that of Executive Search firms. Contingency firms may typically have a larger amount of search mandates than Executive Search firms as the threshold of giving a search to a contingency firm is low – no risk – the client is paying only for the successful result. However, the positions contingency companies are working on are often lower than what Executive Search firms are working on. There may also be several contingency firms working on the same position in parallel. For a contingency firm to remain profitable, they also work in parallel with several clients and similar positions. For a contingency firm, it is valuable to have great candidates. Therefore, they may be more interested in talking to you when you approach them.
About 95% of the recruitment market works on contingency. There are many kinds of contingency firms. Some deliver excellent quality, in particular those who are specialized in certain businesses and/or certain positions. However, many are not on a high level. For instance, in some cases, the best candidates will be first offered to the best client, and if they need time for decision-making or decline the candidate, he/she will be offered to the next client. There are also cases where a candidate who was placed by a contingency firm will be approached later by the same firm and headhunted elsewhere. If you choose to approach a contingency firm, I again advise you to select the ones that are specialized in your business and your level. I also suggest when selecting a contingency firm that you work only with the top firms. Otherwise, you may harm your professional brand. Imagine if you are a candidate for a top tier Executive Search firm and they have placed you on their Short List. Then, your CV is presented by a tier 2 company to this client. This may destroy your chances of being finally selected.
Executive Search firms and recruitment companies may help you to find a job. However, they are not your career agents. When you get proposals from them, you should carefully digest if this proposal will promote your career and if it is what you want. A much better than this passive career strategy is the active career strategy, where you develop your professional brand and boost your contact network. Then, you should systematically approach organizations and people you are interested in with the right story to tell them. This way, you are in the driver’s seat, taking your career where you want to go. You may also find so-called hidden jobs. Executive recruitment is expensive. In fast-growing markets and businesses, executives are needed but not actively searched. If you talk to the right person at the right time, you might find your new dream job quickly.
A career coach may be a valuable help for you in developing your career strategy. A good coach understands your business and market and can give valuable objective insight on how to use your potential. Career transition often requires extra energy and happens often when you do not have it. A career coach may help you to crystalize your vision, find your motivation, and give you this extra boost to elevate your career.
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