The best opportunities attract the highest flyers
1st July 2011
In focus
Dominic Thatcher, Principal of specialist executive recruitment consultancy atcherMackenzie on the importance of talking to both candidates and clients
When asked recently what takes up most of my time in the recruitment process, my response surprised the person concerned. He thought I would say placing people into new opportunities, but within executive search this is not the case.
Typically, a recruiter will spend about 5 per cent of their time placing candidates into a new career, 15 per cent talking to candidates to ascertain what the individual is seeking and what they have achieved, and 10 per cent searching for candidates for a pre-determined vacancy.
The remaining time is spent talking to clients, regardless of whether the organisation is seeking to recruit. The fi nance industry's principle of know your client is just as fundamental in the recruitment sector. In executive recruitment, most opportunities are created instead of responding to a client's actual needs. The art of this type of recruitment is knowing, upon meeting an individual, if that candidate could be relevant for an organisation.
Relevance is naturally based on skill set, but there is one other element of greater importance. This element is character, and only when you know the character of the candidate can you begin to consider the options that may be available. However, a recruiter cannot introduce a candidate to any business without equally knowing the client.
Knowledge equals opportunity for the recruiter. If the recruiter identifi es a candidate with the relevant character and skill set then the business case can be made to the client, even if that organisation is not actively recruiting. The issue of why an organisation should meet with a candidate is surmountable, based on the knowledge of the recruiter of that particular organisation. This knowledge can only be gained through communication with the client.
Many recruiters think that the only time they should speak with a client is if they have something to offer – i.e. a candidate. However this should be the last reason why the recruiter should be contacting the client. Businesses change and the core areas of activity one day may not be the same the next. The duty of the recruiter is to liaise on a regular basis with the client, fi nd out about the business in general and what areas may be developed, if not now, then in the future. The greater the knowledge and the stronger the relationship then the more likely it is that a recruiter can interest a client through proactively introducing a relevant candidate.
The difference between leading fi nance organisations may be slight, but if the recruiter can identify that difference then they are truly providing a service to the client company. What is right for Bank A is not necessarily right for Bank B, despite what may be obvious similarities. Only through long-term client-relationship management can the recruiter make the distinction.
Ultimately, it is important to remember that service in proactive executive recruitment is towards both "client company" and "client candidate". The percentage of time spent talking to the candidate is still signifi cant but it is paramount to identify, when providing service to the candidate, what will be the most relevant organisation.
This is neither a numbers game, nor a situation where one blindly pins the tail on the donkey and hopes. This type of recruitment is methodical and well thought out, taking into consideration the (potential) needs of the client and the aspirations of the candidate. Only through long- term client relationship management can the recruiter make the right decision on behalf of the candidate. This will ultimately save time for their client company, and save time for the candidate, ensuring a long-term career move of mutual benefi t to both parties.
www.thatchermackenzie.com
