“Career Transition in an Economic Downturn…
                          Working with Recruiters”
                     Annual...
Agenda


      ●
          Industry Context
      ●
           What do companies expect when they use
          a recruite...
Months to Next Job,
                        By Industry




                                                              ...
Highest Growth Industries


                                                                             Source: ExecuNet
...
Agenda


      ●
          Industry Context
      ●
           What do companies expect when they use
          a recruite...
The “Three Legged Stool”:
            three (often) non-negotiable criteria

When a company engages a recruiter for a sear...
Three Legged Stool:
                   #1 Qualifications & Experience


#1 Companies using a recruiter can be very exactin...
Three Legged Stool:
                       #2 Compensation requirements

#2 Candidate’s current compensation
    MUST be “...
Three Legged Stool:
            #3 Stable Work History

#3 must be… currently employed (doing a virtually
   identical job...
However, if a company hires you
                 directly, there is more flexibility…


                             #2: C...
Agenda


      ●
          Industry Context
      ●
           What do companies expect when they use
          a recruite...
When SHOULD you work
             with executive recruiters?


   Leverage Recruiters if you…
    … are currently employe...
When SHOULD you work
             with executive recruiters?


   Recruiters can only present you if you’re literally -- a...
Agenda


      ●
          Industry Context
      ●
           What do companies expect when they use
          a recruite...
When you SHOULD (NOT)
                   work with recruiters

                            IF you…
       …   have been u...
When you SHOULD (NOT)
                   work with recruiters

           THEN you should “Fly Solo”
    … identify targe...
Agenda


      ●
          Industry Context
      ●
           What do companies expect when they use
          a recruite...
What can you do right now?


Be “Found” (Fly Solo):                                     Find a Recruiter:

• ZoomInfo.com ...
Take-Aways:
               Career Transition Resources


www.BolandGroup.com/                                www.BolandGro...
Survey of Attendees:
                   Breakdown by Industry




                                                        ...
Survey of Attendees:
                   Breakdown by Function




                                                        ...
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Working With Recruiters During an Economic Downturn (or NOT)

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Slides from Ann’s presentation at CFA Society Annual Career Program June 2009

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Working With Recruiters During an Economic Downturn (or NOT)

  1. 1. “Career Transition in an Economic Downturn… Working with Recruiters” Annual CFA Society Career Program Washington DC June 2009
  2. 2. Agenda ● Industry Context ● What do companies expect when they use a recruiter? ● When SHOULD you work with recruiters? ● When should NOT work with recruiters?) ● Resources and Take-aways The Boland Group: Management and Executive Search Consultants in Mission Critical Search™ MissionCriticalTalent.com ▪ ChoosingASearchFirm.com ▪ BolandGroup.com Copyright 2009 - 2010: All rights reserved. Page 2
  3. 3. Months to Next Job, By Industry Source: ExecuNet Executive Job Market Intelligence Report 2009 The Boland Group: Management and Executive Search Consultants in Mission Critical Search™ MissionCriticalTalent.com ▪ ChoosingASearchFirm.com ▪ BolandGroup.com Copyright 2009 - 2010: All rights reserved. Page 3
  4. 4. Highest Growth Industries Source: ExecuNet Executive Job Market Intelligence Report 2009 The Boland Group: Management and Executive Search Consultants in Mission Critical Search™ MissionCriticalTalent.com ▪ ChoosingASearchFirm.com ▪ BolandGroup.com Copyright 2009 - 2010: All rights reserved. Page 4
  5. 5. Agenda ● Industry Context ● What do companies expect when they use a recruiter? ● When SHOULD you work with recruiters? ● When should NOT work with recruiters?) ● Resources and Take-aways The Boland Group: Management and Executive Search Consultants in Mission Critical Search™ MissionCriticalTalent.com ▪ ChoosingASearchFirm.com ▪ BolandGroup.com Copyright 2009 - 2010: All rights reserved. Page 5
  6. 6. The “Three Legged Stool”: three (often) non-negotiable criteria When a company engages a recruiter for a search, they only want to see candidates who are a perfect* match in (at least) three key areas: #1 candidate’s target experience must be “perfect” #2 compensation MUST be “in line” with target package F or a be pr candida t must esented, e to #3 currently employed with a three have “all “stable” work history searc legs” of t h “sto he ol”… * “perfect” = “100%” match (not even 99%) The Boland Group: Management and Executive Search Consultants in Mission Critical Search™ MissionCriticalTalent.com ▪ ChoosingASearchFirm.com ▪ BolandGroup.com Copyright 2009 - 2010: All rights reserved. Page 6
  7. 7. Three Legged Stool: #1 Qualifications & Experience #1 Companies using a recruiter can be very exacting in their target qualifications and experience requirements… for example: ● functional expertise: ● Ex: must currently be a “Chief Investment Officer managing growth of a portfolio from $2.5 to $3B AUM” ● …AND industry experience, ● Ex: “Relevant experience gained working for the last 10 to 15 years in the retirement services division of a global mutual fund ● … AND specific qualifications, ● Ex: must be a CFA and have an MBA from a top ten business school The Boland Group: Management and Executive Search Consultants in Mission Critical Search™ MissionCriticalTalent.com ▪ ChoosingASearchFirm.com ▪ BolandGroup.com Copyright 2009 - 2010: All rights reserved. Page 7
  8. 8. Three Legged Stool: #2 Compensation requirements #2 Candidate’s current compensation MUST be “in line” with the target compensation package… ● typically, client wants to see a candidate that is earning within 10% of the target compensation range ● If candidate is earning more than 10% of what the position pays, fear is will leave as soon as find a higher paying position ● If candidate is earning less than 10% of the compensation package, concern is that “market value” is too low. The Boland Group: Management and Executive Search Consultants in Mission Critical Search™ MissionCriticalTalent.com ▪ ChoosingASearchFirm.com ▪ BolandGroup.com Copyright 2009 - 2010: All rights reserved. Page 8
  9. 9. Three Legged Stool: #3 Stable Work History #3 must be… currently employed (doing a virtually identical job, preferably with a direct competitor) with a “stable” work history (where “stable” is defined as not employed less than two years by any single firm. The Boland Group: Management and Executive Search Consultants in Mission Critical Search™ MissionCriticalTalent.com ▪ ChoosingASearchFirm.com ▪ BolandGroup.com Copyright 2009 - 2010: All rights reserved. Page 9
  10. 10. However, if a company hires you directly, there is more flexibility… #2: Compensation: may be Compensation more willing to take a “risk” on candidate who has earned significantly more or less income… #1: Qualifications and experience: may be experience more flexible on years, #3: Stability: may overlook degree, certifications… some “quick moves” or currently unemployed status The Boland Group: Management and Executive Search Consultants in Mission Critical Search™ MissionCriticalTalent.com ▪ ChoosingASearchFirm.com ▪ BolandGroup.com Copyright 2009 - 2010: All rights reserved. Page 10
  11. 11. Agenda ● Industry Context ● What do companies expect when they use a recruiter? ● When SHOULD you work with recruiters? ● When should NOT work with recruiters?) ● Resources and Take-aways The Boland Group: Management and Executive Search Consultants in Mission Critical Search™ MissionCriticalTalent.com ▪ ChoosingASearchFirm.com ▪ BolandGroup.com Copyright 2009 - 2010: All rights reserved. Page 11
  12. 12. When SHOULD you work with executive recruiters? Leverage Recruiters if you…  … are currently employed  … with an average tenure > 3+ years  … are geographic flexible  … have modest compensation needs  … have expertise in a hot industry niche, function and love what you do Bottom line... Open to a Career Lateral? The Boland Group: Management and Executive Search Consultants in Mission Critical Search™ MissionCriticalTalent.com ▪ ChoosingASearchFirm.com ▪ BolandGroup.com Copyright 2009 - 2010: All rights reserved. Page 12
  13. 13. When SHOULD you work with executive recruiters? Recruiters can only present you if you’re literally -- a 100% bulls-eye for their client’s requirements… Bottom line... are you open to a Career Lateral? The Boland Group: Management and Executive Search Consultants in Mission Critical Search™ MissionCriticalTalent.com ▪ ChoosingASearchFirm.com ▪ BolandGroup.com Copyright 2009 - 2010: All rights reserved. Page 13
  14. 14. Agenda ● Industry Context ● What do companies expect when they use a recruiter? ● When SHOULD you work with recruiters? ● When should NOT work with recruiters?) ● Resources and Take-Aways The Boland Group: Management and Executive Search Consultants in Mission Critical Search™ MissionCriticalTalent.com ▪ ChoosingASearchFirm.com ▪ BolandGroup.com Copyright 2009 - 2010: All rights reserved. Page 14
  15. 15. When you SHOULD (NOT) work with recruiters IF you…  … have been unemployed a while  … have more than one “quick” job move  … flexibility restrictions  … seeking to move to the next level  … are changing industries or functions The Boland Group: Management and Executive Search Consultants in Mission Critical Search™ MissionCriticalTalent.com ▪ ChoosingASearchFirm.com ▪ BolandGroup.com Copyright 2009 - 2010: All rights reserved. Page 15
  16. 16. When you SHOULD (NOT) work with recruiters THEN you should “Fly Solo”  … identify target employers  … clients, suppliers, competitors  … network, network, network The Boland Group: Management and Executive Search Consultants in Mission Critical Search™ MissionCriticalTalent.com ▪ ChoosingASearchFirm.com ▪ BolandGroup.com Copyright 2009 - 2010: All rights reserved. Page 16
  17. 17. Agenda ● Industry Context ● What do companies expect when they use a recruiter? ● When SHOULD you work with recruiters? ● When should NOT work with recruiters?) ● Resources and Take-Aways The Boland Group: Management and Executive Search Consultants in Mission Critical Search™ MissionCriticalTalent.com ▪ ChoosingASearchFirm.com ▪ BolandGroup.com Copyright 2009 - 2010: All rights reserved. Page 17
  18. 18. What can you do right now? Be “Found” (Fly Solo): Find a Recruiter: • ZoomInfo.com • Identify search firm(s) / practice leader(s) ● “Claim” profile • industry • Linkedin.com: • Function ● Complete profile • geography ● Join key groups • Sources ● Jobs Search agent • KennedyInformation.com • Indeed.com • AESC.org • SimplyHired.com • IACPR.org • Be helpful! Career Transition Resources The Boland Group: Management and Executive Search Consultants in Mission Critical Search™ MissionCriticalTalent.com ▪ ChoosingASearchFirm.com ▪ BolandGroup.com Copyright 2009 - 2010: All rights reserved. Page 18
  19. 19. Take-Aways: Career Transition Resources www.BolandGroup.com/ www.BolandGroup.com/ • ExecResourcesPage.htm • WorkingWithRetainedSearch Firms.htm • CareerTransitionAdvice.htm • Identifying the right ● Tips on job boards, contacts (and avoiding resumes, cover letters, the wrong ones) ● Executive level • RetainedVsContingent.htm networking resources, • Key Differences ● “digital dirt’, leveraging Linkedin, etc • Questions.htm • Questions to ask when • ThreeMagicBullets.htm engaging a search firm ● When (NOT) to work with a Recruiter The Boland Group: Management and Executive Search Consultants in Mission Critical Search™ MissionCriticalTalent.com ▪ ChoosingASearchFirm.com ▪ BolandGroup.com Copyright 2009 - 2010: All rights reserved. Page 19
  20. 20. Survey of Attendees: Breakdown by Industry High Tech Healthcare Consumer Products Life Sciences Financial Services Manufacturing Business Services Public Sector Other The Boland Group: Management and Executive Search Consultants in Mission Critical Search™ MissionCriticalTalent.com ▪ ChoosingASearchFirm.com ▪ BolandGroup.com Copyright 2009 - 2010: All rights reserved. Page 20
  21. 21. Survey of Attendees: Breakdown by Function Asset management Investment banking Private equity / venture capital Consulting Non-profit foundations and associations The Boland Group: Management and Executive Search Consultants in Mission Critical Search™ MissionCriticalTalent.com ▪ ChoosingASearchFirm.com ▪ BolandGroup.com Copyright 2009 - 2010: All rights reserved. Page 21

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