RECRUITMENT
How headhunters work
Search, Selection and Agency headhunters use clearly distinct
methodologies, each suited to differing hiring requirements. It is important
to understand how they differ in order to manage and select them properly,
explains Godliman Partners
SEARCH FIRMS
Search fi rms represent companies,
“Exclusivity means that, once the search fi rm
not candidates. Th ey are usually
retained on an exclusive basis to has been mandated, all candidates are obliged
actively research a defi ned segment of
the market (the ‘research universe’),
to enter the search process, even if they write
approaching candidates on an agreed
‘target list’ (or long list) to see if
they would consider moving to the
directly to the client company”
client fi rm.
Exclusivity means that, once the
search fi rm has been mandated, all SELECTION FIRMS type of headhunters that represent
candidates are obliged to enter the Selection fi rms also represent candidates in the sense that they are able
search process, even if they write companies and recruit through to actively market candidates to a large
directly to the client company. In advertising campaigns, selecting a short number of fi rms simultaneously. Like
return for exclusivity, search fi rms list of candidates from the responses securities brokers, agency fi rms maintain
usually off er an ‘off limits’ guarantee to received. Most fi rms combine selection regular contact with a large number of
the client, which means that they may with either search or agency fi rms on a sporadic basis, to better
not headhunt any employees from the headhunting – there are few selection- understand their hiring requirements.
client company. So most search fi rms only fi rms. Selection is eff ectively an Th ey rarely receive exclusive mandates,
only have between fi ve and ten clients. outsourced HR function, and selection introducing candidates on a ‘no hire-no
After completion of the research fi rms are usually retained on an fee’ (or ‘contingency’) basis.
process, search fi rms will present a exclusive basis. • Agency headhunters are able to
‘short list’ of candidates for the client • Selection fi rms are able to source provide a quick and cost-eff ective
to interview and assist the client in candidates from a wide variety of service for more junior positions;
contract negotiations. sectors. Th ey are best used when the • Agency is best used for opportunistic
• Search fi rms are most eff ective where research universe cannot be clearly hiring, when companies do not need
the candidate is likely to be situated defi ned or is too broadly-defi ned for to benchmark a candidate – either
within a clearly defi ned segment of a search; because their reputation is already
the market, with a specifi c career • Selection is most eff ective for clearly established or because the role
history; positions where the hiring fi rm is is not business-critical.
Cg
• Search techniques are also eff ective open-minded about the candidate’s
for senior or business-critical specifi c work experience, and is more
positions, where it is important concerned about generic transferable
Godliman Partners is a research-driven
executive search fi rm focusing on asset
that the short list is benchmarked skill-sets.
management; with three consultants
against the wider market to give the
supported by six researchers, they are
hiring fi rm comfort that the AGENCY (OR CONTINGENCY) FIRMS
one of the largest UK asset management
candidates presented are indeed the Agency headhunters are eff ectively
headhunting practices.
best available in the market. ‘brokers of people’. Th ey are the only
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