Pros and Cons of Hiring a Headhunter
Hiring a headhunter can provide access to quality candidates. However, it can also be expensive and lack transparency. It’s important to consider the pros and cons before deciding if it’s worth it.
Role and Costs of Headhunters
Headhunters are professional recruiters who specialize in locating candidates for employers. Hiring one can save time and money, provide access to candidates, and help with negotiations. Drawbacks include cost, limited control, lack of transparency, and potential for poor fit.
Headhunters and recruiters often cost between 25% to 33% of a hired candidate’s annual base salary, paid by hiring companies. They rarely charge job seekers. It’s in headhunters’ best interests to negotiate the best salary to receive higher commissions.
Using a headhunter also has benefits – they open up opportunities, tailor-fit applications by knowing strengths, and provide a seal of approval. The average time-to-hire an executive position through a headhunter is just 49 days.
Evaluating Headhunters’ Success
Headhunters rarely charge job seekers. Their success rates can vary, but they focus on passive candidates. Success rates also depend on the headhunter’s industry knowledge and specific requirements. Tracking metrics like successful placements allows firms to evaluate their strategies. Factors like experience, demand, and success rates influence earnings. Most receive a percentage of the candidate’s salary as commission. They provide additional services and ensure successful placement in an organisation.
- Access to a larger candidate pool – Headhunters’ access to both active and passive job seekers can increase the chances of finding the right candidate for the job.
- Time-saving – Headhunters source and vet candidates, so employers can focus on managing the hiring process.