At a recent political event a senior executive engaged me in conversation about looking for a job. He was frustrated with headhunters, search consultants and their lack of help in assisting him with his job hunt. I hope the following provides clarity:
“I want to send you my resume.”
“What field are you in?"
"Consumer goods.”
"I can't help you."
"Why?"
"Because that' s not my field."
"You can't do anything for me?"
"I'd love to help you, but I don't work in that area, I can't help you."
"Why aren't headhunters helping me?"
"Well unfortunately, there is an entire myth around what we do. Number one, headhunters specialize and I specialize in investment management/hedge funds/PE, number two, headhunters don’t get people jobs."
"You don’t.”
"No."
“Well, what do you do?”
“As an executive search firm we build companies in the investment management/hedge fund industry.”
“You can't do anything to help me?”
“Unless you were a portfolio manager or sales professional in the investment management/ hedge fund or PE industry, no.”
"How do you work?"
"A company hires us and based on their specifications, we find specific talent that fits those specifications. we have a database of talent that we know in the industry, people who's careers we have followed, culturally I know organizations and what people have contributed. Why would a client hire me for something they could do themselves? Our job is to know who the most talented portfolio managers or sales people that fit their culture and provide the greatest return on investment. Search firms specialize, like in hospitality, medical technology , or real estate."
"Really?"
"That’s how I work. From a long term perspective, not short term. I'm not throwing bodies or resumes at a problem. You have to remember, I owned a company and have built companies. A few major hiring mistakes and you have a cancer. Then there are those guys who throw bodies at problem. Search firms specialize, for example, in hospitalty rach Execut "
“Are those the contingent people?”
“Well, it depends on the person, the firm, how they are paid. One would specialize in finance, investment management, technology, or venture capital. The same holds true for contingent recruiters, they specialize, but don’t get paid unless they make the placement, so they want lots of resumes sent to them.
Executive search consultants are hired by the company. We are seeking a specific type of person. But let says you sent me a resume, you aren't hiring me...So who does the headhunter or recruiter work for? The employer. Not the person looking for a job.”
“But I’m really talented, and have a great resume so the headhunter or recruiter should be thrilled to get my resume…because they can make money if they place me, right?”
“Well, you have to understand what I do, I don't work in your area number one. And then I'm a retained search consultant, so my expertise is in three areas. It's identifying talent, culture and scalability, then marrying those three things together. That's building a company. You're looking for a job but that doesn't mean the headhunter has job, and their allegiance and responsibility is not to you, it's the employer. So when I'm building a company, what do you think I'm thinking about? I'm not working for you, I'm working for the firm...trying to do what's best for them, not you.”
“What do you mean? I went to Wharton and Harvard.”
“You have a great background. Truly. You have wonderful experience. But here's the problem, there is this huge myth out there in the industry about what we do. You have to find contingent recruiters that specialize in the consumer good area. And that's not what I do.”
"Then explain it to me, will you?"
“Well, based on three decades of experience I intuitively know talent, but I validate and verify that talent through my process which is similar to Goldman's twenty-nine interviews; it is in the messaging where people feel
they are invited to join a very special club. My philosophy long term greed, clients are sacred, do the right thing every time, my fiduciary obligation is to my clients. And results? Well, all you have to do is look at the long term relationship I have had with my clients along with results which I constantly monitor. So do I fill jobs? No, I build companies, make sense?
"Sort of."
"If you send me a resume and you're in the pharmaceutical business or technology industry, what's the likelihood that I'm going to consider your information?"
“So headhunters specialize just like other people do?”
“Yes.”
“If you're looking to transition into my industry, you can do that but not through me, you can go directly to the company, which I would encourage people to do.”
“Why would a company need to hire you, right?”
“Right, they hire me for industry expertise, my contacts, my understanding of fit between talent and culture, my guarantee, knowing who can generate an immediate return on investment.”
I hope this conversation helps clear things up for people who get frustrated thinking that headhunters and recruiters will get them a job. That's not what headhunters or recruiters do and it's a myth. Most headhunters or recruiters for whatever reason never make it clear that they don't get people jobs. Why I do not know. My hope is to help you understand to alleviate your frustration.
Thank you for being here. I am thrilled that you take time out of your schedule to come by.
Copyright 2009 Ev Nucci
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