Useful info on headhunters and handling headhunters (Z)

Headhunters

Headhunting firms are increasingly a powerful tool for companies in Singapore to find scarce mid and high level professionals. In this section in Careers! we will provide you with information about how to manage headhunters when they come knocking.

Headhunters - what are they about?

Headhunters or executive search firms look for mid to high level professionals to fulfil specific contracts for their client companies who will pay them a fee based on a percentage of a candidate's annual renumeration, but only if they find somebody who successfully comes on board. As such headhunters have to secure and justify their fees by looking for the best candidate possible in all areas including the client's direct competitors, similar industries and companies which are vertically linked to the client's services. Headhunting is a very competitive job, both within the industry and the search firm itself, which is why the turnover rate for the industry is so high.

When an initial list of candidates is drawn up from databases, the search executive responsible for the project will phone or contact the candidates on the list to drop some hints, verify career details and find out if he is interested. At the same time, he will be trying to look for new people in your firm (and your competitors) who may fit their criteria and are not in their databases. The executive may use every trick in his book to find out about potential leads.

After this lengthy process is completed, the list will be shortened to a small number of interested candidates with the greatest possibilities. The candidate will then be brought in for an interview where he will be quizzed on his job scope and assessed on certain factors. Most experienced headhunters will know much about the details of the industry you are working in and the requirements for your job, since they are specialists. They will know roughly how much you are worth.

When about 2 or 3 of the best are shortlisted from this interview, they are presented to the client firm who will contact you and negotiate with you directly. From this point on the headhunter takes a back role by playing the role of the mediator and providing professional counsel to the negotiations. You may meet your headhunter only once.


Tips on How to Handle a Search Firm
1. A search firm will assess you in the interview based on any combination of the following factors - your reputation and track record, character, level of position, current income, and education. Different clients and search firms will have different piorities for this list, but it is important to remember that they will have a fairly clear idea of what your position entails, who are the high-fliers in your industry (and thus most wanted), and what your position is worth. It pays to be pleasant in the interview and not be too demanding, although you may be pleased at being headhunted, since you are still competing with a sizeable number of candidates. It also pays to be honest.

2. When you are first contacted about a potential job (there will be no details at this point), you should be aware that the headhunter is just fishing. He is trying to make sure that the information about you in his database is correct, find out whether you are interested in making a move and if you can tell him more about any new-comer. A very suitable candidate will be treated the same as a unlikely one. Also make sure that you keep the conversation confidential, especially from your boss, which is not easy if you are contacted in the office. Some of them will call you at home.

3. Your own resume, contrary to expectation, is not very important to the search firm. Most of them will produce their own succint version of it based mainly on your interview and some details of your resume. Remember that they probably receive hundreds of resumes a month and are not very interested in your ten page blockbuster. If you should forward your resume to them they will include you in their database, but you still have to go through their rounds of selection. Avoid hyperbole when describing yourself and your achievements.

4. A headhunter is not your friend. No matter what he tells you and unless you know him in a personal setting, the cajoling voice on the phone is mostly interested in fulfilling his contract and is not the best person to talk about your dislocation worries and other uncertainties when you move to a new job. If you get a firm offer from the client company, which will certainly mean a substantial pay raise but not always a rise in rank, by all means approach your own company and ask them to give you an counter-offer. What is more important than befriending a headhunter is to be well known in your industry for the right reasons, which means the headhunters will almost know about you and may even track your career. Some of them are that well-plugged.

5. There are quite a number of headhunting firms in Singapore, and most of them specialize in one or two industries only. While there are some big international names, they may not be the the most influential, well-connected or dominant in your industry in Singapore. It pays to know which firms are subsidiaries in your industry and which are the ones that have long lasting contracts with major client companies or companies you want to go to. Ask your friends there. Remember that for a period up to one or two years after you have been headhunted you are unlikely to be approached again, so make your choices wisely.




Career Resources
If you are looking for a job - any job requiring your expertise - the search process will be faster if you submit your details to as many search firms as possible. However if you are interested in working for certain firms only, say international banks, you should note that most search firms specialize in certain sectors in Singapore and only a few of them will be frequently contracted to the firms you are interested in. Not all of them will be career consultants with big international names. It will be worth the time and effort to ask around for this valuable information.