Everything You Need to Know About Executive Recruitment
What Is Executive Recruitment?
Have you ever wondered what happens when a company needs to hire people to fill senior vacancies? What is the recruitment process like for senior officials like senior managers, directors, and top-level management personnel? If you have always been curious about these things, but it has remained a mystery, then this article is for you!
What we discussed in the above paragraph is under the purview of executive recruitment. In this article, we will take a look at what an executive recruiter is, what it takes to become one, and what sets them apart from other recruiters. So, without further ado, let us get started!
Definition - What Is an Executive Recruiter?
An executive recruiter is one who headhunts to fill executive positions. They work within an executive recruitment agency or for a specific company, or they may even work independently. Generally speaking, executive recruiters specialize in one or two fields and have a long list of contacts in the said field. This can be for professionals like doctors, lawyers, or even senior management within firms.
As you can imagine, there are not a whole lot of vacancies for CEOs or other such high-level positions, meaning that the number of executive recruiters out there is not very high. Therefore, they are all very specialized in the fields they work in.
What Skills Do Executive Recruiters Need?
Let us now turn our attention to what qualities you need to have in order to become an executive recruiter. There are a lot of things that come into play, so let us look at each of them in turn:
Keep A Finger on the Pulse of Modern Technology
It is very common for top executives at various corporations to be proficient in the usage of the cutting-edge technology relevant in their field. If you are also not proficient, how will you judge whether a person deserves to be on the list for a particular position? As an executive recruiter, you cannot afford to be outdated. How else will you judge your candidates and, more importantly, stay relevant in your already small and specialized field?
Maintain an Ever-Growing List of Contacts
As an executive recruiter, one of your greatest assets is your contact list. Since you are so specialized, you will need to know everybody who is anybody in your field and keep in touch with them. Your aim will be to have built up a sizable network of contacts over your career, but do not let this stop you from making new contacts. The name of the game is to always make new connections.
Think of your network as you would your condiment rack. Not every flavor is right for every dish, but you do not throw them out, do you? They might be exactly what you need for the next dish. You need to reserve the ones you have while at the same time bringing new flavors into the fold.
Get into the practice of asking for referrals. It will pay dividends in the long run.
Embody the Industry You Are Involved With
Here is the secret: you don’t become an executive recruiter by simply looking for the right fit and making calls. If there is one quality that trumps everything else in your quest to become the very best executive recruiter there ever was, it is this: proactivity. You have to be proactive in your approach. You have to go out and do things.
What things? Well, you have to merge with the industry you are in. You have to keep on top of every new development in your field - strive to keep tabs on at least half of the people you recruit. After you make a placement, shadow them. Run in their circles. See exactly what it is they do and what the demands are. Read up on things they have to read as well. The more you know, the better.
Don’t stop there. Go the extra step and attend major events in your field. Use empathy. Understand the kind of candidates you need and get in that headspace. Talk to other recruiters and HR professionals to know what they need and their strategies.
Being an executive recruiter is much more than helping your clients fill a position. It is about becoming a leader in your chosen field and being respected for your knowledge and connections. To that end, you need to become one with the field you specialize in.
Agency vs. Corporate Executive Recruiters - What’s the Difference?
When talking about executive recruiters, a distinction must be drawn between agency and corporate executive recruiters. When most people use the term executive recruiter, they are referring to those tied to an agency. Since the need to fill such high-level positions does not often come about, it might seem improbable for executive recruiters to be employed on a corporate level.
As part of an agency, executive recruiters can be subject to a contingency contract or a retainer contract. Contingency contracts pay executive recruiters when they fill a position, meaning they get paid a high amount only once. In contrast, in a retainer contract, the client pays the recruiter to retain their services exclusively, meaning the recruiter gets a steady income over time.
When corporations employ executive recruiters as part of their HR staff, it can be assumed that the company has a significant amount of capital. Because executive recruiters are so niche and rare, the aim of employing one on a corporate level is mostly to build, maintain, and retain their executive bench.
Get More Insights From Lanteria
An executive recruiter can be thought of as a kingmaker. They hold the fates of corporations in their hands and crown those worthy of the lofty burdens. To embody that, you have a long climb ahead, but we hope this article helped you get an idea about what it is all about and what you need to focus on if you want to become one. For more insights into HR processes, check out the other posts on our Lanteria blog!