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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.”
COMMENTSJohn - Recruiter, Asset Management, Thu 08 May 08All recruiters are unethical, unprofessional and mass mailshot your C.V.? You are embarrassing yourselves (not me)with your sweeping statements!
Another Duck, Hedge Funds, Thu 08 May 08Donald duck, what is the problem with Zaheer taking a rational view of his profession? They are intermediaries and are there to shift product, why expect them to think any differently from your friendly, professional, ethical stockbroker? Add your comment »Craig, HR & Recruitment, Thu 08 May 08Vick - Trader... Your message clearly highlights my previous points - could have been written better by a 10yr old. As for us all losing our jobs - I think you will find we (or at least those of us who work for reputable firms and are successful) are secure whilst it is people in your position who are being fired. Who's enjoying the champagne now! Add your comment »george, HR & Recruitment, Thu 08 May 08wow what a long thread - and yes i did have time to read it, not busy sending out random cv's or creating ficticious jobs, or avoiding calls from people calling in with false names (why that chap bothered to do that i cant fathom out). instead i am concentrating on advising my clients on who they have in there teams who are considered as valuable commodities and on those who if they had to let go, they could. I am helping people who have been made redundant try and find avenues for interview - often telling clients that they wont need to pay a fee if they hire,
Anonymous, Quantitative Analytics, Thu 08 May 08If you look at it Quantitatively, its the old 20/80 rule. Unfortunately this means that there is a whole load of 5h17 to get through until you met you a decent HH. Add your comment »Business Manager, Investment Bank, Equities, Thu 08 May 08The simple fact of the difference between headhunters and recruiters is in the title. A headhunter approaches you and should have an idea about what they are working. A recruiter has to advertise because they are clueless about the area they work in and can only generate candidates through lame ads on job boards. Use your own networks to find out which are the headhunters in the know and avoid firms with large numbers of ads on internet job boards. We all know who they are! Add your comment »Anonymous Head Hunter, HR & Recruitment, Thu 08 May 08I agree with George, we always work on building client relationships and exactly that good people will always work with good people. I was a trader for 17 years and now run my own recruitment business, I have had bad experiences with head hunters in the past and have learnt by those experiences and now simply do the job the right way. That said there are still good recruiters out there as well as good candidates but on the other side of the coin there are bad ones and at the same point bad candidates. Add your comment »Balanced View, Investment Banking / M & A, Thu 08 May 08I was placed in a great job last year by a recruiter/small firm that I would definitely use again - having been dicked about by a smarmy twerp at one of the more generalist recruiters. Therefore I'd agree with the fairly obvious statements made by a few here: there are good'uns, and there are bad'uns. Choose carefully and you won't end up with your CV all over the City. Add your comment »Agree with the negativity around HH, Asset Management, Thu 08 May 08All this negativity about HHs is justified... their is no smoke without a fire... a vast majority of professionals in the financial industry will agree that 19 out of 20 headhunters are hopeless... precious few are the ones with the real contacts and relationships ... and which hence drive Maseratis Add your comment »Guns 'n Roses, Risk Management, Fri 09 May 08Some recruiters are incredibly poor at what they do. Even though some people may say different. Look around and learn quickly, so as to avoid disappointment. Basically, it is a case of trial and error. You will not know a good HH/recruiter until you had a bad one. Just take my example, I was badly messed around by this one agency in particular - they always asked me about other roleas that I applied for and never offered anything themselves. Entertainingly enough, a very senior colleague and former head of Risk claimed that he had good experience with them. Not to say that they kept sending him one half-baked candidate after another for six months. Nevertheless, he stuck with them. In the end, of course he did not get his person through them... Never again will I deal with such timewasters and pure info collectors. Good recruiters are out there, and the bad ones will eventually be singled out and doomed. So, do what you have to do and let everyone around you know about the particularly useless ones. Add your comment » |
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