Three years ago, I wrote a blog about answering the question, “Why do I need a recruiter?” The most popular response then was: “I don’t need a recruiter. I know everyone.” Do you know who says this? Both the client companies that we are privileged enough to represent and the candidates as well. Now think about that statement for a minute. Both the candidate and the client company retort the same thing; “I know everyone.” Why is this? It’s because both the candidate and the client company do not realize that “knowing everyone” is not the answer. Has their response to the question changed over the last couple of years? I have to say categorically the answer has been modified to a great extent across the board from bond counsel recruiting and more. Both candidates and clients have realized in the strong candidate-driven market that knowing everyone and getting hired are two completely different things.
If “knowing everyone” was the answer for companies…
If “knowing everyone” was the answer, then we would not have placed over one hundred and thirty-five people with ten client companies over the last nine years. Let’s look at both the candidate and the company’s unease. Today the client companies are highly aware of who is looking for a position due to the closeness of our cottage industry. However, something has changed. The client companies are reaching out to recruiters like myself with their hit list of preferred candidates they would like to attract. Yes, you read that correctly. Client companies are not only saying they know everyone, they are asking for help to get these “known” people aboard with public finance and bond counsel recruiting. You may be wondering, “How do these companies (which we are fortunate enough to represent) know that it takes more than knowing someone?” With this candidate-driven market, it takes managing the process from the initial interview to the final acceptance. Companies now are seeing the value of recruiter relationships, as we are being viewed as the trusted advisor rather than another vendor.
What About Candidates?
As for the candidates, they remain skeptical about letting companies know they are in the “market.” Candidates are reaching out to recruiters (in bond counsel recruiting and more) to help identify the best firm for them to join. Candidates want to work with someone that knows the industry inside and out as well as the cultures of the varying companies that are hiring Public Finance Bankers as well as Bond Counsels.
Trust Goes A Long Way With Public Finance & Bond Counsel Recruiting
Candidates are aware that due to the “small” nature of our industry, their current company may get wind of them looking. There’s the possibility of their issuers becoming concerned with the next bond issue closing. Companies may be alarmed that there is a void in their infrastructure and a weakness could become apparent for the competition to capitalize upon. It is not surprising that communication between the recruiter and the candidate is paramount. We walk a fine line as we represent both the candidate and the client company’s interest. In public finance and bond counsel recruiting, the trust level between all parties is crucial.
The Process & How Necessary Public Finance and Bond Counsel Recruiting Is
Managing the process is the key to a new hire. Candidate’s motivation, timing and desire to make a move must correlate with the exact timing of the needs that a company may have. If the candidate is ready and the company is not, the deal will not be consummated despite any degree of bond counsel recruiting or other. By having open communication between recruiter, candidate and company; the timing with other intricacies must line up before a new hire is managed professionally. This all answering the question, “Why do I need a recruiter?”
If you would like to discuss your options, please reach out to me for a confidential conversation at 760-477-1284 or email me at [email protected].
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 level Public Finance Bankers, Health Care Bankers, Municipal Financial Advisors, Compliance Officers, Issuers, and Bond Counsels. He can be reached on LinkedIn, at [email protected] or 760-477-1284.