When To Hire Headhunters To Fill Open Positions | Fora Financial Blog
When To Hire Headhunters To Fill Positions In Your Business
January 30, 2020

When To Hire Headhunters To Fill Positions In Your Business

The ability to quickly hire the right individuals is a crucial requirement for any successful business. But what if you have positions that you’re struggling to fill? If you find yourself in this situation, you might consider using a headhunter to attract top talent.

The right headhunter can help you find the best talent and hire quickly. However, there are a few things that you should know before hiring a headhunter.

What Are Headhunters?

A job headhunter is an individual or agency that offers employment recruiting services to companies. Instead of trying to find the right job candidates on your own, you’ll outsource this task to a headhunter.

Businesses that are looking for very specific job candidates will often use a headhunter to find a list of individuals. Then, the recruiting firm will review their pool of talent, while also searching for new candidates starting their job search.

The advantage of using a recruiting agency is that they only make money if they are able to successfully match you with the right candidate. Most headhunters earn a fee between 20 percent to 30 percent of the job candidate’s salary. This ensures that they’re highly motivated to match you with the best person for the job.

The individual or agency you hire will be representing your company to potential job applicants. Therefore, you should choose wisely. Look for a headhunter who’s professional, courteous, and takes the time to understand your company and its needs.

Headhunters vs. Recruiters

A headhunter is an individual or agency that is hired as a third-party to help fill an open job position. The job headhunter works to find qualified candidates, and won’t get paid until the position is filled. Headhunters are easy to find and will be very motivated to fill your job opening.

Recruiters sometimes work for agencies as well, but more often, they will work in-house for one company. Executive recruiters are hired not just to find qualified candidates, but to also help pre-screen candidates work closely with HR, and facilitate the interview process.

When To Hire Headhunters

Many small businesses struggle to hire candidates, given the time, energy, and resources it takes to find and onboard the right person. This can lead many companies to hire the wrong employees, which leads to higher levels of employee turnover.

A report by Hubspot found that filling a vacated position can cost as much as $15,000 per employee. So, you really want to get your hiring decisions right the first time.

If you’re struggling with your hiring process, then it may be time to consider using an executive headhunter. Here are three situations where it may be the right choice.

When You Need To Hire In A Hurry

Hiring employees is a huge time commitment for any business. Not only do you have to find the candidates, but you also need to review their applications, check their references, and interview them.

However, it can also be very detrimental to your business to leave a key position unfilled for too long. It’ll put a strain on your business and force other employees to take on tasks that they may not be well-suited for.

If you need to fill a position immediately but don’t have the bandwidth to handle this process yourself, then using a headhunter could be the right decision.

When You Want The Best of The Best

Maybe you have the time to find and interview employees, but you’re just not finding the level of quality that you want. In this case, it’s a good idea to reach out to an executive headhunter and see if they can find a new pool of candidates for you.

Headhunters are constantly working with companies to find qualified candidates, and their only job is to make sure the position gets filled. Because of this, they’ll have insights into the best places to look for job applicants.

When The Market Is Scarce

We’re living in a job seeker’s market right now, and there are more open positions than there are candidates to fill them. Job seekers are more particular about the types of jobs they’re  willing to accept. If you’ve been struggling to fill the same position for a long time, using a headhunter could help. They’ll be able to find candidates that are trying to find a job in your industry that fits your company culture.

Headhunter Alternatives

If you’re struggling to fill certain positions within your company then it may be time to outsource this task to someone else. However, if the idea of using a headhunter leaves a bad taste in your mouth, then there are other alternatives.

Recruiters are a great option because they’ll be more involved in the entire process of hiring and onboarding an employee. A recruiter will be focused not just on finding the right person, but also helping them transition successfully into your company.

Another option is to have your hiring managers post open positions on niche job boards. Niche job boards tend to attract a higher quality of candidate than more generalized job boards. For instance, efinancialcareers.com is a great site to use to find qualified candidates within the financial services industry.

In addition, you can promote your job openings on social media, on your LinkedIn profile, Twitter account, or other platforms. This can be a great way to spread the word about your position and find a pool of interested candidates.

Frequently Asked Questions

What is a job headhunter?

A headhunter is a third-party that’s hired to help a company to fill an open job position. You’ll let the headhunter know about the position you’re trying to fill, and that person will find a list of qualified candidates for you to interview.

Executive headhunters only make money if they successfully fill your job openings, so they’ll be very motivated to help you find the right person. Most headhunters earn a fee of 20 percent to 30 percent of that individual’s salary.

What is the difference between a headhunter and a recruiter?

A headhunter is very involved in the beginning stages of finding candidates. But once they’ve pre qualified candidates, that’s pretty much the extent of the headhunter’s involvement.

In comparison, a recruiter will work closely with the HR department to assist the hiring process from beginning to end. They’ll find qualified candidates, screen those individuals, and manage the interviewing process. And once you’ve selected your candidate, recruiters will help that person transition seamlessly into your company.

When should you consider using an executive headhunter?

If you have a position that you’ve been struggling to fill for a while, then you might consider using a headhunter. Headhunters will have unique insights into the best places to find qualified job candidates.

Job headhunters can also be helpful if you need to fill a position very quickly but don’t have the bandwidth to do this on your own. Using a headhunter can ensure that you find the right person for the job immediately.

What are some alternatives to using a headhunter?

Instead of using a headhunter, you could hire a recruiter instead. Recruiters tend to take more time to understand your company and will be more invested in helping you find the right person for the job. And once you’ve found the right job candidate, a recruiter can help you onboard that individual.

Also, try posting your job opening on niche job boards or on your social media channels. Niche job boards can be a great way to market your position to the right kinds of candidates. Social media platforms can also be a great way to get the word out and generate some buzz for your company.

Fora Financial

Editorial Note: Any opinions, analyses, reviews or recommendations expressed in this article are those of the author's alone, and have not been reviewed, approved, or otherwise endorsed by any of these entities.

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Fora Financial is a working capital provider to small business owners nationwide. In addition, the Fora Financial team provides educational information to the small business community through their blog, which covers topics such as business financing, marketing, technology, and much more. If you’d like to see a topic covered on the Fora Financial blog, or want to submit a guest post, please email us at [email protected].