3 Types of Recruiters
There are three kinds of recruiters; retained, contingent and corporate, and each functions from a different perspective. While ultimately the goal of all three is to fill job openings, each does so differently. In order to work successfully with a recruiter you need to understand their role, whom they represent and how they go about their business.
Retained or Executive Recruiters usually have an exclusive arrangement with the client company and are hired for a specific assignment. Fees are paid regardless of the outcome of the assignment. A typical fee is equal to one third of the first year's compensation. Because of the cost structure, retained recruiters are usually only used for senior or executive level positions. They provide their clients with a thorough recruiting effort and often use multiple recruiters to fill a position. Retained recruiters work very closely with their clients and can offer expert advice throughout the recruiting process. They may participate in all the client interviews, any discussions within the organization about a candidate and play a key role in negotiations, reference checks and offers. It not unusual for a search to take many months before the position is filled. Executive recruiters look nationally or even internationally to fill positions. It is in your best interest not to limit yourself to working only with recruiters geographically close to you. They also often specialize in particular industries and professions. It is to your advantage to seek out these specialists, as they will have a better pulse of what's going on in your field and have a better understanding of what you are looking for.
Contingent recruiters are paid by the client company only if they are successful in finding a candidate that gets hired. They work without a retainer fee but are still paid by the hiring company. Most contingency recruiters work quickly and uncover many resumes. Companies oftentimes work with several different recruiters to fill their open positions. For this reason, if you are working with more than one recruiter, let them know what companies your resume has been submitted to. Otherwise your resume could end up being sent to a hiring manager several times. A contingency recruiter will typically work on anywhere from 6 to 20 assignments at once. Therefore you will probably spend less time with this type of recruiter than say a retained recruiter. Contingent recruiters are usually involved in middle management, professional and technical positions. Recruiting firms tend to be industry or functionally specialized. An average fee for a contingency recruiter is 20-30% of the yearly starting compensation.
Corporate Recruiters are employees of the hiring company, a sort of Human Resources specialist who may be used to fill staff openings. Corporate recruiters may be assigned to search staff openings at various levels of responsibility including clerical, administrative, technical, and professional or they may be assigned to look for very specific responsibilities. These recruiters work under the Human Resources umbrella. Sometimes, however, they are assigned to work within specific departments searching for critical staff openings such as an Information Technology or Engineering department. It is not uncommon for a Corporate Recruiter to hire a contingent recruiter to help them fill positions. It is possible that you may be first contacted by the contingent recruiter and then speak with the corporate recruiter.
I used Executive Recruitment Consultants to help me job search and the results they came up with were exactly what i was looking for. They made it so easy.
ReplyDeleteThat is true and what you pay the big bucks for. Depending on the size of your organization it may be a great resource to utilize unless you have high volume hiring there are alternatives. Cheers!!
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