As the year winds down, more and more firms are deciding to trim their excess fat going into 2023 whereas other firms are trying to add to their personnel roster, now the need for recruiters is continuing to grow. However, some people are reluctant to use the services of a good recruiter for reasons that within our public finance industry, in my opinion, do not hold water. Today’s blog will examine the reasons some great candidates are hesitant to use a recruiter and how they all revolve around monetary reasons.
Juggling Multiple Candidates
The first reason usually stated if we are lucky (and by that, I mean many of these reasons a potential candidate will not share with a recruiter but will be in the back of their minds) is, “If I use a recruiter on a particular position, is the recruiter, in essence, working against me as they may show the client company numerous candidates? But if I go on my own, I will not have the competition of my recruiter’s candidates also being shown the same opportunity, thus increasing my chances to get hired.” So, let’s debug this thought. First of all, there is always the possibility that a client/firm is considering another candidate for the same position that you are eyeing. Since we only do opportunistic hiring, there is a much slimmer likelihood that a client company is going to be looking to fill that same position you are hoping for. Why? Because there is no current position they are adverting. In essence, they are creating a position for you.
Paying For The Services
The second reason we hear is, “I am going to have less of a chance of getting this position if I use a recruiter because of the financial obligation that a firm is going to have to step up any pay; therefore, why would I want to lessen my chances to get hired if they know they are going to have to pay for the services of a recruiter?” Here again, we have found your chances are not any less or more if you are brought to a firm by a qualified, knowledgeable recruiter. Firms in our industry know they are going to be using the services of a recruiter to get the best talent and the fact that you were presented by a recruiter does not hurt your chances at all. I would actually take the opposite side and say your chances of being hired are increased because the client company knows you are 100% qualified for the position or a recruiter would never have brought you to their attention.
Payment Out Of My Compensation
The third reason we hear is, “If there is a recruiter involved in the process, my compensation will be reduced to compensate the recruiter.” Again, I have to say your compensation is going to be what your compensation is based on your worth to the company. You are not going to get less of a compensation package because the firm has to pay the recruiter’s fee to get you hired. When companies decide to use a recruiter, all companies set aside funds for that purpose, and a candidate’s compensation in my twelve years of representing excellent candidates has never been reduced because I presented them. Firms are just aware that getting great candidates presented to them is just a cost of doing business like any other cost.
A final reason is, “I do not want to waste the recruiter’s time or the client’s time if I am not 100% ready to make a move.” Let me state this very clearly: if you are in the public finance space and use a recruiter, you are never wasting our time or a client’s time if we think you are the right candidate to talk to a firm. We are public finance bankers and attorneys just like you and are always delighted to have preliminary conversations with anyone in our industry.
In conclusion, if you think 2023 is the year you are ready to make a move or you have any concern that you may be a victim of being reduced in force (RIF), reach out to us. We would be most delighted to chat with anyone in our industry to assist in your career planning for next year and beyond.
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.