This week we continue with number five of our questions that are the most frequently asked questions of recruiters. The answers that I’m going to provide once again are going to be skewed towards my methodology of recruiting, which are truly opportunistic hiring scenarios. Just to reiterate, opportunistic hiring is the ability to create new positions with my existing clients anywhere in the United States for exceptional candidates.
5. Do I hurt my chances of getting hired because the recruiter’s cost is factored in when the company is considering making me an offer?
This is a particularly good question and it’s asked regularly. Common sense would say the answer should be yes but, in reality, the answer is actually no. This is because the firms you are being introduced to are opportunistic hiring scenarios, where they are not necessarily looking for an average candidate but are looking for an exceptional candidate. Because their needs are so specific, they are more than willing to pay a recruiter’s contracted fee and still offer you an extremely competitive compensation package. Most people are unaware of this, but the exceptional recruiters’ responsibilities are not only to introduce you to a new firm but to manage the entire process for you; from the initial interview, offer, acceptance, and finally onboarding.
6. The next question that is always asked, especially when somebody finds out that their salary will not be affected by our fee, is how are we compensated?
Most recruiters won’t necessarily share this information, but we are compensated by getting a certain percentage of your base salary for the first year. In our model of recruiting since we are working under opportunistic hiring scenarios, we also get a one-year true-up. This actually means that we will get paid on any additional monies that are paid to you within your first completed year of employment. If you have a guarantee of one year, we would be paid on that guarantee plus your base salary upfront and then any additional monies would be paid to us if, and when, you exceed your guarantee.
7. What are the benefits of me working directly with a recruiter?
The biggest benefit of working with a recruiter is that they will introduce you to firms that are in hiring modes for your particular expertise. A recruiter that specializes in a particular field is always abreast of firms looking to expand, especially recruiters that work with opportunistic hiring scenarios. If you have been working with a recruiter or a recruiter knows your specific needs, when they hear of a position where you will be in their database then they can reach out to you immediately. This would not make a difference whether you were in the process of looking for a new position actively or if you are currently employed but open for new positions, which is known as a passive candidate. Working with a recruiter can streamline the process for you so that your time is not wasted on interviews where there is no potential to get hired. A recruiter can also help educate you about the process of getting hired, brief you more specifically on the firm that you will be interviewing with, and answer any of your concerns or questions you may have regarding transitioning from your current company to a new one.
Next week we will conclude the top ten questions where we will discuss more thoroughly the concept of what representation means and how it affects you and the clients we represent.
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.