Last week we discussed the benefits that a candidate would receive by working closely with a recruiter. We shared numerous reasons why a candidate should always be talking to a recruiter; the main one being that you never know what’s going to happen, and you want to have that ongoing relationship prior to potential unexpected moments. Today we’re going to talk about the benefit to the hiring company. I represent numerous firms in what we call “opportunistic situations,” which simply means that I have ongoing relationships with client companies that are always in the hiring mode. Why is this important to the hiring managers – to know they have a recruiter that they can rely on regularly? Let’s find out.
A Pulse On The Market Is A Hefty Benefit To The Hiring Company
The biggest benefit to the hiring company working directly with a recruiter throughout the entire process is that they now have a finger on the pulse of the market. Most recruiting firms try to specialize in one particular area where they know that area inside and out. They know which firms are hiring, which firms are reducing personnel, and they also know which firms are going to be in an expansion mode earlier than the marketplace is aware. If a recruiting firm has that relationship with the hiring manager, they can be consistently helping them in their plans moving forward. Let’s look at that as our first benefit to having a recruiting relationship with a hiring company already established. The hiring manager has the ability to “pick” a recruiter’s brain on what’s happening in the marketplace. Is it the time right now where there are going to be a plethora of candidates available? Or is it a time right now where they should be sitting back and waiting for a better time to hit the market? These types of questions as well as comp-related questions can all be fielded by a recruiter well in advance of the firm making their hiring decisions.
A Direct Line & Finding Out What It Takes
Another benefit to the hiring firm having a relationship directly with the recruiter is they may have earlier access to prime candidates due to the relationship that the recruiter already has. A recruiter as a trusted advisor may be aware of certain potential candidates or even teams of candidates that are currently unhappy in their present situation. As a hiring manager knows, a recruiter is constantly talking to the top echelon of potential candidates in that pool. The other thing that a hiring manager is aware of is that recruiters are constantly talking to what we call “passive candidates.” Those are the candidates that the hiring manager would love to have. A hiring manager also can take advantage of the recruiter’s ability as it relates to different comp models. As I alluded to above, compensation is going to have to be extremely competitive to lure “passive candidates.” What better information could there be from a recruiter who represents numerous firms in our cottage industry and is aware of what competition is paying for top candidates? It also is more than just the base salary. It is the entire payout structure as well as bonuses, forgivable loans, etc. A client company would want to know what it is going to take to secure this particular candidate.
Another Benefit To The Hiring Company: More Information
An added benefit to the hiring company collaborating directly with a recruiter is a recruiter can share with complete confidence their “hit list.” This is the list of potential candidates that a hiring manager has determined would be a particularly good fit for their company. It has happened many times while working directory. A company will share that list with their favorite recruiter and with instructions to go after those particular candidates by representing the desire of the hiring firm to move forward. I can hear yourself asking, “Why would a client company that has identified their top prospects use a recruiter in this role?” There are many reasons for this. Number one is that a candidate will share more information with a recruiter than they would with the hiring manager reaching out. By using the recruiter as an intermediary, the hiring manager will be able to get more information and be able to make a more aggressive approach by working alongside the recruiter to get that specific prospect. A good hiring manager realizes that a top recruiter does more than just present resumes and people that they managed the entire process from start to finish. Managing the process by a recruiter gives both the candidates and the hiring managers the best advantage to move forward to a positive conclusion in their new relationship.
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. 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.