Simply said, headhunters are recruiters, but not all recruiters are headhunters. Another term for the work that headhunters do is "executive search," as they literally look for candidates who are usually, but not always, executives. The executive searcher's client is always an organisation or a company, not an individual.
Clients pay headhunters either on a contingency or a retained basis. Only after completing a search and securing a hire do firms accepting contingency searches receive payment. Companies that work on retainer usually get the bulk of their fee before the search is complete. Contingency fees are generally used for lower-level positions, while retained fees are typically applied to higher-level searches. According to industry standards, fees, contingency or retained, range from 25 to 33 per cent of the hire's first-year compensation, which includes a sign-on bonus, if any; base pay; and estimated bonus or commission, if any.
"Don't call us; we'll call you." As you look at the many paths available to you to attain your ideal position, an interview with a headhunter is unlikely to significantly advance your career goals. Even if you should talk your way into a courtesy interview, it is not likely to be a fruitful exercise, as these recruiters are focused on finding candidates who exactly match the qualifications specified by their clients, not on finding jobs for even the most talented people.
How do they find their candidates? One way is networking, which is how you are most likely to find your next position. Another way is advertising. Research, through a variety of methods, including the internet and trade associations and other directories, plays a major role in locating candidates.
People feel flattered when the headhunter calls. And there is a valid reason for that: these folks fill many of the world's most prestigious positions. Conversely, a lack of call does not necessarily indicate your superiority in your field. Either they don't need your qualifications for a position right now, or they haven't heard of you yet!
by Lois L. Lindauer, Director, Lois L. Lindauer Searches,
www.LLLSearches.com
www.LLLSearches.com