Throughout the many years of these blogs, I have referred consistently to the term and world of opportunistic hiring. In this week’s blog, we are going to dive deep into the term and what it can mean for your future. Not only are we going to talk about the term “opportunistic hiring,” we are going to discuss who it is most beneficial for in 2023. Very quickly, it is for senior people that have the ability to move their business and their clients and are niche-specific in their practices as bankers, advisors, and bond counsels.
What Is It? Creating Your Future
Opportunistic hiring, unlike other methods of filling a position, is when a company will create a new position for a candidate. These positions are never advertised or not even contemplated by a firm in most cases. Bond Counsel and Public Finance Investment Banking & Municipal Advisory firms both open up new offices when they see fit. If a candidate meets their criteria, new positions for individuals as well as team moves will be gladly entertained. There are no restrictions within the world of opportunistic hiring. Opportunistic hiring always yields greater compensation packages as the client company does not want to take the chance of losing an excellent candidate(s). The client company also knows that we only introduce one candidate or team to one firm at a time, and if things are going right in the interview process the candidate/team is never introduced to another competing firm from us.
Who Is It Best For?
Now that we discussed what the world of opportunistic hiring is, we need to discuss who are the best candidates for this hiring mode. The best candidates (as mentioned in the opening paragraph) are senior individuals who are confident in their ability to move business and are well-known in their specific niche. General sector knowledge and experience are less valuable than very specific experience and sectors. A candidate for example that specializes in higher education versus a candidate that just does general government bond work will be more in demand. The reason is their niche is exact and they are able to know that their business/clients will be following them with a great deal of confidence. They are the originating professionals, and their current business card is secondary to who they are and the relationships they already have developed.
How Is The World Of Opportunistic Hiring Different?
Interviewing in the world of opportunistic hiring is different. In a typical interview process, the candidate is in a defensive role. By that I mean they are there to answer questions and attempt to show that they are the best candidate for the role. Most times the interviewer is just going down a rote list of questions, then will narrow the field to the best candidates. HR will be setting up numerous interviews as they have a position to fill where the candidates are slowly weeded down to two or three – from potentially ten or twenty that started the process before offers are contemplated. In an opportunistic process, the candidates are actually on the offensive. It is up to the candidates to demonstrate what they want at their next firm. The candidate will present their model of getting business and will show why the firm should create a new opportunity specifically for them. There will not be any competition, you are only competing against yourself as the position was not advertised and as mentioned above may not have even been contemplated.
You, The World of Opportunistic Hiring & 2023
In conclusion, the world of opportunistic hiring will certainly give you, the candidate, every opportunity to “sell” yourself in 2023. If this sounds appealing do not wait till next year to start the process. Now is the time to set things up to enable you to start with a new firm right after the first of the year. Let me also be clear about this, public finance firms are not retracting in their hiring practice but are actively seeking the right individuals’ public finance bankers, municipal financial advisors & bond counsels.
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.