We discussed opportunistic hiring as it relates to the candidate last week. We are going to continue this week to discuss opportunistic hiring as it relates to the client. As you will see the benefits to the client are just as meaningful and important as they are to the candidate. A firm with opportunistic hiring will present the best opportunities you have to create your perfect position.
Recap On Defining Job Orders
For those readers who have yet to read the candidate portion, I am going to quickly define opportunistic hiring. The term “opportunistic hiring” is unlike most recruiting firms that have a standing job order to be filled. It simply means that we do not. To understand opportunistic hiring situations further, I first need to explain a job order. A job order is where a bank or a law firm calls us asking to find a specific person in a specific location with a specific expertise doing a certain dollar amount of business. What if there is no standing job order? There is no standing requirement to find a particular person in a specific location. There is not even a request for a specific sector expertise. So, what is opportunistic hiring? What does a firm with opportunistic hiring look like?
Defining Opportunistic Hiring For Clients
Very simply, opportunistic hiring allows us to present the best people in the industry to our client. A new position is created just for them with opportunistic hiring situations. As we reviewed last week, we know the benefits to the candidate. However, now we are going to discuss the benefits to the clients, the hiring company. The largest benefit to the company is that they can enter a new sector of public finance without having to second guess their ability to increase their profitability in that sector. By hiring the “top guns”, a firm with opportunistic hiring can now increase their market share significantly with the right hire. In addition, by hiring the lead people in that sector, the ability to continue to recruit is increased as well. Team hiring also can take place, which it often does with us.
Benefits For A Firm With Opportunistic Hiring
Secondly, a firm can better respond to the shifts in the economy easier when opportunistic situations are presented to them. For example, if infrastructure is now the hot commodity and we are working with the leading candidates in that area, a firm with opportunistic hiring can get an immediate leg-up on the competition by hiring the right people. Opportunistic hiring affords a client the ability to get into the market with strength while not having to build their platform organically from their current employee base. Also, the typical ramp up period of 18 – 24 months is considerably shortened with the leaders in the sector. Most “top guns” that we move can generate significant revenue in their first year.
Recruiters Facilitate Opportunistic Hiring Matches
By allowing us (i.e., recruiter) to bring them the “top guns”, the firm with opportunistic hiring knows that through us they have an exclusive situation as we only present a candidate to one firm at a time. If the firm is interested in that candidate, they know that through H. Friedman Search they do not have to be concerned that the candidate is being shown to our other clients. This allows a firm to negotiate in good faith with us to secure that “top gun” as they are afforded the protection of knowing the candidate is not talking to any other firm. We can then negotiate the best compensation package for them, and the firm knows that the likelihood of a successful hire is almost 100% assured.
Mutual Benefits In Opportunistic Hiring
As we conclude this two-part series on opportunistic hiring, you can clearly see that both the candidate and the client company benefit from our novel approach. Please reach out to us if you are interested in hearing how you can benefit from our experience as public finance recruiters.
Conclusion
If you would like to discuss your options, please reach out for a confidential conversation at 760-477-1284 or email at [email protected]. He can also be reached on LinkedIn. Subscribe to our monthly newsletter here, which is a compilation of our weekly blogs so you never miss one.
About Harlan Friedman, JD & Founding Member, H. Friedman Search LLC. Harlan is a thirty-year veteran Public Finance Banker turned recruiter who specializes in the placement of all levels Public Finance Bankers, Health Care Bankers, Municipal Financial Advisors, Compliance Officers, Issuers, and Bond Counsels.
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