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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.”
COMMENTSAnon, Trading, Fri 09 May 08Fully agree with the fact that there are some very bad HH/Recruiters out there. You go in and meet them, spend a longtime expalining to them what you do and what you are looking to do for your next move then they give some totatlly irrelevant job spec. They then try to put some spin on the job spec to make look like what you are looking for.
Anonymous, Fri 09 May 08Part of a common cycle: when times are good, recruiters will place even lousy candidates to firms where they are making money hands-over-fist. The managers are so blinded by prospective bonuses many times their salaries to care.
John, Commodities, Fri 09 May 08Collecting CVs after posting non-existing jobs is known as CV harvesting. This can impress future clients when they come in to assess a recuriter. Look at all the candidates we've placed and have on our books!
Jack, Asset Management, Fri 09 May 08"....and filled with poorly qualified people"
Peregrine Blenkinsopp, Capital Markets, Fri 09 May 08the very worst are those who purport to have product knowledge and then have the audacity to verbally test you - even though you have never met them before. once i was in front of this moron who got all confused when we talked about binary options. it was so embarassing, i quickly made my excuses and left. Add your comment »Phoenix, HR & Recruitment, Fri 09 May 08Right, here's my advice on how to successfully use a HH and make sure you get a good service:
Obama, Compliance / Legal, Fri 09 May 08HR departments are directly to blame. They are staffed by lazy 'seat warmers' who are too lazy to put together good specs and advertise in selective outlets. As long as they get paid....
12345, Hedge Funds, Fri 09 May 08Most headhunters sadly are not able to determine when candidate could be strong for a position, even if they had not done that job in the past. I was ignored for positions at FoHFs, despite my confidence that my risk, sales and trading background was perfect for the area. So I charged off on my own and landed the perfect position FoHF which I now manage. Add your comment »Tom, Hedge Funds, Fri 09 May 08I saw *** (DELETED BY MODERATOR) has commented here- talk about epitome of unprofessionalism- they hung up on me when I called them out for pretending to be interested in my candidacy when in fact they were only trying to get names out of me. What slime. Now I'm managing a fund and trust me, I am going out of my way to tell colleagues not to use them! Payback sucks I guess.... Add your comment »Anonymous, Fri 09 May 08Agreed that retained searches produce quality. Unfortunately, you have up there in salary to get their attention. Add your comment » |
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