There are two reasons that why you would spend money on an executive recruiter. First, the person you want to hire is not going to apply online. Second, if you hire the wrong person and he/she leaves within six months, it is very expensive! Below are several benefits of using executive recruiter from company's perspective.
Want the best person for the job? Either identify someone in your professional network or engage an Executive Recruiter. Usually HR people tell you,"We got this." They don't! They do not have the connection. For the record, there are some top notch HR executives, however most are overwhelmed with personnel issues and not equipped to do executive search. There are just not enough hours in the day. So I'll say it again — ACCESS. Executive Recruiters have access to the best executives on the planet.
Many companies ignore this completely. Big mistake. Candidates don't put their alcohol, drug and gambling addictions on their resumes. We are not talking about one or two people. I can rattle off the names of a dozen million dollar executives with major personal issues. Executive Recruiters have intimate knowledge of their candidates. In my case, I have known most of my executives for 10 to 20 years. I know their families, their hobbies, their positive and negative qualities. I can quote the hiring company scripture and verse on each one.
Anyone that tells you "great" candidates apply online is wrong. Our executive search consultants assure you that million dollar "C" level executives don't cruise LinkedIn looking for a job. They are gainfully employed. Inaccessible. Unobtainable. The Executive Recruiter has access and can make the phone calls to the right candidates.
You may think it's cheaper to let HR place Monster.com ads, but remember one thing — you can get more of everything in life except time. Would you rather run the business or sort through the resumes of unqualified candidates? Is it worth it to have an Executive Recruiter save you a hundred hours of interview time by providing the three best candidates? If you hire the wrong person on your own and they leave after six months, how much does that cost? In the long run, it is more cost-effective to hire the right person the first time around.
Keep in mind that at $100,000-plus, 90 percent of all jobs come from your professional network or an Executive Recruiter. Applying online is a 1 percent proposition. For every senior level job, there are 500 applicants. Only one can be selected. Top executives never, ever apply online. Here is the value proposition for working with an Executive Recruiter.
Anyone that tells you otherwise is wrong. For this reason alone, if you are at a senior level, you should have relationships with two or three Executive Recruiters. Most of the jobs they work on are not posted. Companies keep them off the radar. Maybe the company wants to make discrete changes or the incumbent has not been fired yet. Most of the best jobs are never posted.
If you are selected, mostly likely you will be one of three candidates competing, as opposed to the 500 that apply online. Your odds of landing the position are much better.
One that spends 100 on a CareerBuilder ad, or one that pays an Executive Recruiter 50,000 to find the best candidate? Do you know why they place online jobs? They are cheap! An Executive Recruiter can tell you which companies are "hot" and which ones are a lousy place to work.
Most common mistake by candidates? Not pricing their house to sell. They are making $100,000, but believe they are worth $200,000. An Executive Recruiter can assess your education and experience, then give you your "market value." And trust me; they will be pretty darn close.