What Executive Recruiters Should be Doing Now

What Executive Recruiters Should be
Doing Now
By Joseph Daniel McCool, Senior Contributing Editor
Executive search consultants are more confident about the direction of the general
economy and management hiring by corporate clients for the coming year. But don’t
assume the improving economic environment alone will drive new search assignments
to your door.
The following 10 tips are for search consultants who are willing to adjust their game
plan to forge a new identity as a preferred recruiting partner.
1. Stay engaged with your best clients
n Protect what you have; the competition is always circling. Protect your
relationships with your clients by being ever-present and top-of-mind.
n Things develop when you least expect it, so prepare for the unexpected. With
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all the uncertainty in the marketplace, companies may not be able to predict
their needs; so continue to maintain contact so when they have a need, you are
in position to take advantage of it.
2. Keep your clients/prospects informed about “the road ahead”
n Extend your understanding of customers’ business and human capital needs.
Business is changing rapidly, your clients will appreciate the perspectives and
experiences that a third party can bring to the table.
n Provide market intelligence and insights on what you’re seeing and
experiencing on a daily basis, around topics such as the employment
marketplace, competitive landscape and shifting compensation.
n Be more than a source of candidates. This is the time to be
more than just a recruiter, build a broader Unique Value
Proposition – one of an informed, trusted “business advisor.”
It may be a good time to actually go out and visit with
clients and prospects, even if there isn’t a search to be won
now or in the short-term.
3. Identify the list of top companies you’d like to
have as clients
n You may find it easier to attract new clients who share your
business philosophy. Who are the 10 companies that, for
one reason or another, inspire you or share your philosophy
about doing business in the 21st century? Perhaps it’s a
company that simply projects products and an image you
can connect with from a personal and professional point
of view.
n Research their needs and devise a plan to start a “dialogue.”
It’s going to remain a very competitive market for search
assignments, so the only way to get the attention of new,
closely targeted prospects is to speak to your unique
capacity to help them recruit leaders who’ll perform better
and drive better results for the enterprise.
n More prospects may be open to conversation now because
of changes in business and marketplace conditions.
4. Focus on what/who you know, but be creative
6. Help your customers anticipate talent needs
n Help your clients with contingency planning. Help them
identify those top executives who would be the most
disastrous to lose. The risk of changing companies will
decline with recovery and retention will be critical.
n Practice relationship recruiting, not transactional recruiting.
Be consultative and proactive; your clients will appreciate it
and remember it.
7. Test out some new markets
n Industries are changing rapidly, and change opens new
opportunities. There are emerging new industries and
companies benefiting from world growth and business
re-investment. These companies have expanding needs and
are strolling for talent.
n Follow your previous recruiting “relationships.” People are
moving from company to company – opening new doors
for you.
8. Get engaged online and in business networks
n That’s where hiring managers are hanging out. Social media
provides an effective way to engage with exponentially
more prospects than ever before.
n That’s where candidates are hanging out. Provide content
that is valuable and intriguing to attract top talent and
get referrals.
n Look beyond your current “known” customer base.
n Look at your candidate base as an asset for other industries.
Many recruiters we know have leveraged their candidate
base in new industries by being creative of where their skills
may be relevant.
5. Expand your network
n Focus on aligned areas; top candidates are out there now,
and 90 percent will now speak with a recruiter about a new
career opportunity.
(Source: ExecuNet/Finnegan MacKenzie 2009 Executive
Retention Report)
n Start calling those industry leaders you never thought you’d
be able to get to.
9. Think about your own succession options and
challenges
n Are you doing more with less? Many firms cut back staff,
some cuts were too deep, and when business picks up,
productivity will suffer. A serious challenge for many search
firms will be to rebuild their own teams. And if you haven’t
already started to think about how and when to do that,
now is the time.
n Recognize that there is a new “normal.” The old way of
doing things may not apply to the executive recruiting
world of tomorrow. Be prepared to re-invent yourself and
the way you do business.
10. Don’t wait; get started today n
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