Wendy Weber on Executive Recruiting

Every week I talk to job seekers who seem to think so.

I will talk to a candidate who has been out of work for, let’s say, 8 months. They were making $95K at their last place of employment. They have run out of severance money, and are doing their best to exist on unemployment assistance. Now they are “asking for” a salary of $110K.

Far be it from me to tell someone their worth in a free market.

But I would think that after months of unemployment, simply getting back in the game would have real value…even at slightly less than what they used to make. I certainly don’t think a prospective employer would choose to reward them for their months of unemployment.

As a recruiter, I make a percentage of the candidate’s compensation when they are hired. I am certainly motivated to help the job seeker maximize that number. But at a certain point, nobody wins. The prospective employer is put off by the lofty salary demand, the job seeker does not get the job, and I am back on the hunt for a suitable candidate.

I talk to my candidates about the concept of buyers remorse. If they learn that they are being passed over for consideration for the job because there is another candidate presented at a salary of $95K…or even $90K…or even $85K…would they wish they had allowed me to present them at that salary? If so, perhaps they should reconsider their salary requirement.

Once they are gainfully employed, and demonstrating their value to their employer, they will be in a much stronger position to re-negotiate.

Well, it happened again today.

Our client authorized us to extend an offer of employment, and our candidate turned it down.  The economy must be picking up.

Last month, it happened to me twice.  I had a client who extended an offer to one of my candidates, and the candidate had multiple offers from which to choose.  He ultimately accepted another offer  – identical in compensation – because he thought he would be happier in a “client side” environment.  I presented additional candidates, and my client extended an offer to another one of my candidates.  She had been unemployed for only a short while, and she was concerned about the cultural fit with this client.  Without another offer of employment in hand, she turned down my client’s offer.  That’s confidence that the job market is improving.  (I’m not sure I would have done the same thing in her shoes.)

Today another recruiter in this office reached an impasse on a search he had been conducting.  The offer was extended…it was somewhat short of our expectations, and our candidate’s expectations.  The client still feels that it’s a “buyer’s market”.  But the candidate, who is employed, declined the offer.  Our job seekers have a renewed confidence in their career options.

Frustrating for us as recruiters…but I believe these stories bode well for the job market.  Our candidates have options again.   (And for the record, most of the offers of employment we extend are accepted!)

The last 2 weeks have been our busiest all year.  Unusual amount of recruiting activity for the month of July, but a happy change for the better.  Since this is my first blog entry, can someone please comment so that I know that I am being seen?  Many thanks.