Executive recruiters: How they help internal recruiters in top financial organisations.

Particularly at the executive level, financial service organisations are often faced with the critical decision of leveraging internal recruitment teams or enlisting the expertise of specialist agencies. This begs the following questions: How can executive recruiters from specialist agencies complement the efforts of internal recruiters? What unique advantages do they bring to the table in sealing the deal with top talent? Can their involvement in the recruitment process translate to better hiring outcomes for organisations?

This article touches on 7 distinct ways in which executive recruiters not only help seal the deal with high-caliber candidates but also add value to the internal recruiters and hiring managers.

1. Personal relationships

• Building Trust and Rapport: Executive recruiters from specialist agencies retain very long-standing relationships with top talent (in our case 18-25 years), which can be leveraged to attract candidates to opportunities. These recruiters are skilled in creating a sense of trust and rapport, which is essential in persuading a candidate to consider a new role or organisation. Internal recruiters don't always have that luxury and are dependent on often low response rates from prospects.

2. In-depth knowledge of talent

• Leveraging Industry Insights: Specialist agencies are domain experts and employ recruiters who possess deep knowledge of the talent within their niche. They always have their finger on the pulse; and understand the candidates' capabilities, career aspirations, and the nuances that make them a good fit for a particular role or company culture, thereby enhancing the matching process.

3. Impartial negotiation

• Facilitating Objective Discussions: Specialist executive recruiters can negotiate offers impartially, as they are not influenced by internal biases or constraints. Their objective stance helps in mediating terms that satisfy both parties, ensuring a smooth transition and onboarding process. This is an area that is often overlooked but this point cannot be understated or undervalued. It can be the make or break of a deal.

4. Unbiased views of the role and company

• Providing Candid Insights: An executive recruiter can provide unbiased views about the role and the company to the candidate, which is crucial in setting realistic expectations. This transparency helps in aligning the candidate's vision with that of the organisation, fostering a smoother landing and long-term retention.

5. Access to a wider talent pool

• Expanding Reach: Specialist agencies have access to a broader and more diverse talent pool, including passive candidates who may not be actively seeking new opportunities but are open to the right offer. This access is invaluable in finding the right match for specialized roles, especially at C-suite, EVP, and SVP levels.

6. Strategic talent planning

• Aiding Long-Term Vision: Internal recruiters can benefit from the strategic insights provided by external executive recruiters, who can assist with longer-range talent planning initiatives. They see the wider contours of the market and talent pool and can start having light candidate conversations early. This partnership enables a proactive approach to talent management, rather than a reactive one.

7. Efficiency and resource management

• Optimizing Resources: By partnering with specialist recruitment agencies, financial services companies can save time and resources that would otherwise be spent on the extensive process of sourcing and vetting candidates. This allows internal teams to focus on their core responsibilities, while the agencies handle the intricacies of securing the placement.

It is clear that executive recruiters from specialist agencies are not simply facilitators but also key strategists in the recruitment process. They bring a unique set of skills and resources that complement and enhance the efforts of internal recruiters. Their ability to build personal relationships, provide in-depth knowledge of talent, and negotiate impartially is crucial in not only identifying talent, but also in securing top talent. Additionally, their unbiased views of roles and companies, along with access to a wider talent pool, contribute to a more robust and effective hiring process. In my opinion, the collaboration between internal and external recruiters is not just beneficial, but essential in the dynamic and competitive landscape of talent acquisition.

About Scott Burkeman : Scott is the Founder and Managing Director of Warner Scott Recruitment along with co-founder Craig Warner. Scott has 25 years of executive recruiting experience in the financial services industry including but not limited to London, Dubai and the wider GCC . Prior to establishing WSR in 2006, Scott served 6 years at Michael Page where he managed the Audit and Financial Advisory teams.