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Research Your Market Value by Meeting with Search Firms
One way to stay relevant and minimize career risk is to meet with recruiters who specialize in your
market niche. Even if you are not actively looking for a new role, periodically connecting with search
firms can provide a snapshot of what the market is seeking, how your skills and qualifications match
current market demands, and which skill gaps you need to address to stay competitive.
Since search firms work for the company that is hiring, few will have any interest in you as a
networking contact or in referring you to companies on an informational basis. But if their
relationships with client companies are strong, search firms can help pave the way for you to get
information on industry trends, unadvertised positions, company culture, and salary range for your
background and experience.
It makes sense to meet with a search firm if it specializes in placing people with your background,
skills, and credentials; represents client companies in your market; and has a good reputation,
and/or is listed as a member of The Association of Executive Search and Leadership Consultants.
It's also important to know if the search firm works on a contingency or retainer basis. Retainer
recruiters are hired by a client company for an assignment and are paid regardless of the search
results. Contingency recruiters are more often used for junior and mid-level executives. Contingency
recruiters receive payment only when their candidate is hired and usually work on an exclusive basis
with their clients.
When contacting a search firm, include a cover letter and resume that summarizes your target area
(industry, geography, function), most remarkable characteristics, and key accomplishments. End the
letter suggesting a meeting if the recruiter believes that your background and qualifications match
their client’s needs.
Ultimately it is up to you to determine when and where you want to make your next career move. A
search firm with a strong reputation in your industry or profession can help you assess your market
value so you can create a strong development plan to position yourself for future opportunities.