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TOP STORIESCandidates abusing recruiters8 May 2008COMMENTSIt actually saddens me when I see such negativity about the recruitment industry (especially in finance). I would never let anyone who works for my firm do anything listed above and they would certainly be in line for dismissal should they do this and hide it from me. Read all comments »With jobs harder to come by, bankers are behaving badly towards recruiters and headhunters, who are suddenly unable to slot them into comfortable new positions.
“We’re starting to get a lot of angry emails,” says one structured credit headhunter. “Bankers are approaching us and questioning why we can’t place them in hedge funds or commodities businesses. They’re venting their spleens, but there just aren’t the jobs.”
“Candidates are more rude and obnoxious,” confirms the head of a derivatives recruitment firm. “We get a lot of emails saying ‘You guys are no good at what you do’.”
“Candidates have become used to getting what they wanted over the past few years,” agrees Adam Buck at recruiters Selby Jennings. “They were able to say, ‘I want to work in a macro hedge fund with £x million under management,’ and we were able to deliver for them. That’s no longer always possible and people need to understand that the market has changed.”
Frustration might also have something to do with the fact that recruiters are no longer doing their best to accommodate everyone.
Zaheer Ibrahim at search firm Kennedy Associates says it just isn’t viable to spend time on borderline candidates any more: “The CVs we see are walking money. We’ll go for the triple and double As, but we can’t waste our time with people who won’t generate money for us in this kind of market.”
COMMENTSYour Kidding, Hedge Funds, Thu 08 May 08One of the most laughable articles to date - some of those names of HH mentioned in the article are among the most notorious - I have had to use a false name to get through sometimes -remarkably they answer as they think they get another CV -their practices are so unprofessional that a bit of kick has to be the least they deserve Add your comment »anon, Derivatives, Thu 08 May 08there are a few quality names out there that you can trust, don't push you and have a half decent understanding about what you do. But the cowboys out there are the majority unfortunately.
Jimmy Saville, HR & Recruitment, Thu 08 May 08Seb: It's true some recrutiers will fib - but you're overstating the case. The majority of jobs are real, but if you use a pony agency, you will get stung. Add your comment »Anon, City, Capital Markets, Thu 08 May 08I would just like to add that the recruitment industry is a thriving one, with exceptional rewards for high performers, so some of us must be doing something right! Add your comment »Danny, Operations, Thu 08 May 08Thanks for an enlightening discussion. I do not hear beyond the CV collection stage and most of the them are often rude. Add your comment »Anon Headhunter, HR & Recruitment, Thu 08 May 08For fear of being shot down in flames I shall remain anonymous but please, please do not tar all recruiters with the same brush.
Andy Jardine, Derivatives, Thu 08 May 08I think HH are good and have secured me my dream job. I feel the idea of HH being time wasters stems from candidates who arent getting called back or who arent getting interviews. Times are tough and only the best survive. If you are good enough you will find you job you are looking for and HH will want to work with you as they make money. Add your comment »vick, Trading, Thu 08 May 08HH are serious losers. I do regret spending my time speaking to some of these.. most notably principal search is the worst! those guys try to show off as the posh boys in town. i remember one of the guys kept calling me every week telling me how bad the market is. if he cant get interviews for people i wonder what good he is. i wish the whole lot of them gets fired..
JO, HR & Recruitment, Thu 08 May 08I would like to echo the comments of Zack who makes a valid point and bankers themselves don’t have a good reputation currently for integrity and honesty so it is wise to look beyond the generalisations. I agree that there are far too many “cowboy” recruiters out there, and we curse them as much as you do as it makes our job ten times harder. However, as intelligent individuals I would expect you to do your own due diligence before engaging with a recruiter to ensure they are specialists and reputable in your field and I assure you your experience will be a far cry from that of taking the lazy option and listening to the first person that picks up the phone to you. Please don’t also assume that to be an excellent recruiter you need to have worked in industry previously, I wouldn’t like to generalise and mention that many ex-professionals are indeed that because they were less than successful in their role, but it has been suggested! Successful long term recruitment is absolutely a skill in itself and many of the best individuals I have met in my career have trained from scratch in this field and taken the time to learn their market.
J - SEARCH PROFESSIONAL, HR & Recruitment, Thu 08 May 08I am a search professional and see the validity of comments made by both recruiters and the disaffected candidates in a difficult employment market. In defence of the better recruiters (which are by no means some agencies or bucket shops)whose practices are well documented, I would say that we do see candidates as future clients if they are treated with honesty and try to serve the reputational interests of our clients in fair dealings with prospective employees. The markets necessitate our having to be rigorous in selection of applicants for assignment shortlists mainly for reasons of opportunity cost. Constructive comments for candidates as follows. As a rule headhunters will approach you. Beware of any firm that is willing to represent you without meeting first. Try to stick to more experienced recruiters, those with a track record have survived previous markets due to service levels. Pick firms with specialist teams that match your skill set. Use networking events and research the job market as much as you can. Graduates, the best approach is to talk to employers direct via internet, many now have very effective online recruitment programmes. Good hunting. Add your comment » |
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