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Candidates abusing recruiters
8 May 2008COMMENTS
It 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.”
COMMENTS
Anon, Trading, Fri 09 May 08
Fully 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.
I would ask what there experience is in the financial markets. You're telling them what you have done so why cant they? If they are talking rubbish then walk away and advise colleagues friends about the HH/recruiter.
Anonymous, Fri 09 May 08
Part 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.
Now things are more challenging, the recruiters just can't find the jobs to give to these guys. The inferior recruiters, despite all the self-praise on their web pages, DON'T have contacts in the 'industry'. They just rode the wave during the boom.
This will resolve itself in a couple of years and the mediocre office operatives will get to ride the coat tails of the next boom.
John, Commodities, Fri 09 May 08
Collecting 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!
Apart from pointy shoes, watch out for the 'geezers'. These are salesmen types who don't really have a profession or a set of skills - a bit like estate agents. They always raise their collective heads during the good times.
It's happened before and will again....
Jack, Asset Management, Fri 09 May 08
"....and filled with poorly qualified people"
That's most, repeat, most of the people who work in offices in finance!
In the absence of manufacturing, we have a population of 'spreadsheet operatives' who just collect wages for turning up and chatting about Big Brother
Peregrine Blenkinsopp, Capital Markets, Fri 09 May 08
the 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 08
Right, here's my advice on how to successfully use a HH and make sure you get a good service:
As a candidate, it's your job to actually test/assess the recruiter's knowledge in the field you are looking for. If you're in FI, test him by asking him for the names of the 3 biggest FI houses for example.. We're really brokers, and as such we should know our products almost better than our clients and candidates. So test them and ask for their track record. Check out the names of some people they've placed. It's also better to deal with a specialist in its field. Insures better coverage and knowledge of the market...generalist/high street agencies should be avoided. Ask if the mandate is retained. It's a v good sign if it is.
Explain clearly what you want and what you don't want. Agree on some names that you can be introduced to and then chase the HH once a week or something. HH deal with a LOT of people, so sometimes not giving Fback is just forgotten...
HH is no rocket science. It's easy to do but not simple to do well
Obama, Compliance / Legal, Fri 09 May 08
HR 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....
This is a reflection of how most of commerce is run nowadays.
12345, Hedge Funds, Fri 09 May 08
Most 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 08
I 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 08
Agreed that retained searches produce quality. Unfortunately, you have up there in salary to get their attention.
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