As 2023 heads into the second full week bonus thinking are prevalent. Everyone starts to wonder if their bonus is going to be what they expect or if are they going to get that dreaded surprise: it’s not what you wanted or more importantly what you deserve. I have to wonder why individuals are not reaching out to recruiters before they receive their actual bonus. The secret is the first to talk to a qualified recruiter the less competition you are going to have for another position if you decide that is what you want. The reason is that each one that is dissatisfied, and I hope that is very few, will be looking for positions. The competition will be greater once the bonus is paid than before. So, in today’s blog, I want to explore possible reasons public finance professionals are reluctant to reach out to a recruiter earlier in the process when there is less competition.
The Finish Line
The first reason is that potential candidates believe if they start with a recruiter they have to finish with one. Even though many people want to “kick the tires” so to say, they are hesitant to have that first conversation since they may think they are wasting a qualified recruiter and a company’s time if they start the process and then decide to stay with their current situation. Let me share this without any hesitation: If you are a public finance professional, you are not wasting my time or any hiring manager’s time I may introduce you to. We are all professionals, and if you are an expert in our field clients love to chat. Managers know that not everyone is going to make a move today; they are patient. 90% of the people that I chat with are what we call passive candidates, and we are aware that a move today might not be imminent. But on the chance it could be, they (meaning my clients) want to have meaningful conversations to further the likelihood of a move.
How A Qualified Recruiter Affect The Compensation Package
Secondly, candidates are concerned their financial package is going to be affected by having a qualified recruiter involved in the process. They feel their compensation package will be reduced because a recruiter is involved in their selection. Again, this is absolutely false. I have never had a firm offer a lower package because they had to pay a fee for our services. In fact, because a qualified recruiter is involved, we can get stronger packages. This is because recruiters have some leverage over our clients as we know what other firms are offering similar candidates in the marketplace. Many times, I have been called by hiring managers asking us what the current hiring trends relate to competitive packages being offered.
Will Everyone Know You’re Looking?
Another reason is that candidates are concerned their current firm is going to find out they are “looking.” Some recruiters will spread the word to many firms that a candidate is now in “play” by circulating their resume to as many firms they work with or think they could market the candidate to as an MPC, (most placeable candidate – a term of art in the recruiting field). That’s not the case with a qualified recruiter. H Friedman Search never shares any resume with any firm without the approval of the candidate in question. Also, we only work with one firm at a time; thus, significantly reducing the possibility that your name will get out there. If you like what the first firm we introduce to “feels” like, and you want to learn more; we never introduce you to another firm. Nor do we throw out resumes to see what will “stick,” which is a tactic a lot of other recruiters do. Our goal is to protect you through the process, to get you the best compensation package, and find the best “fit for you.
When To Start The Process With A Qualified Recruiter
Starting the process early is the key to accomplishing this with a qualified recruiter. As you may be aware certain firms can take much longer to hire an individual; so, starting the process makes good sense, especially if you want to get your bonus first before making that final determination about leaving your current firm. Beginning the process earlier gives you options. Options always lead to better opportunities than when you have to start the process because of an event that triggers you to now want to look for a new position. You’ve already begun so your timeline is definitely shortened. Let us help guide you through this process most expeditiously and confidently.
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. Harlan publishes a blog every Thursday here. Subscribe to our monthly newsletter here, which is a compilation of our weekly blogs, so you never miss one. You can find our listing in the “supplier and services” section of the Red Book under the title of “executive recruiting.”
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, Healthcare Bankers, Municipal Advisors, Compliance Officers, Issuers, and Bond Counsels.