The
Regency Group, Ltd.

Executive Search and Recruiting,
Specializing
in Midwest
Reproduced from an article appearing in The Chicago Tribune
Chicago- When Alex Mandl, president and chief operating officer for AT&T Corp., was wooed from his job by executive recruiter David Beirne to head Associated Communications L.L.C. for a reported $20 million signing bonus and an awesome pay package, many people had this reaction: "Gee. I wish I had been a little bit nicer when a headhunter called me."
Although few calls from executive recruiters lead to out-of-sight salaries such as Mandl's, there's a moral to the story. Be polite when the headhunter calls.
Headhunters find job candidates for their clients, the employers. Retainer-based companies get paid upfront by the client. Contingency firms are paid when they find the right person. The Executive Recruiter Newsletter reports that in 1994 there were 6,000 U.S. search consultants on a retainer basis and 12,000 contingency recruiters handling assignments with salaries more then $75,000 annually.
"The phone call to you is one of many steps in the search to find the right candidate," said Barbara L. Provus, an executive recruiter for 18 years and principal at Shepherd Bueschel & Provus, Inc. "It's called 'the well-placed telephone call' and is too important to ignore." Ms. Provus, one of the country's top headhunters, specializes in human resources, sales, marketing and public relations. She works on a retainer basis and handles searches with salaries of $150,000 and up.
Calls you should graciously respond to are initial ones, which may last from five to 20 minutes, Ms. Provus says, and fall into two categories:
You also get insider feedback on salaries, growth companies and job opportunities in your field. "The headhunter also may ascertain if you should be a candidate, even though ostensibly that's not what the call is about," Ms. Provus said. So be on your best behavior.
The fact that recruiter Beirne, 32, reportedly got $300,000 and stock in the company for finding Mandl has given recruiting a high profile. "Beirne's is not a typical story," said John R. Sibbald of St. Louis, president of his own search firm. "But you'll see more stories like his as a consequence of the demand for people in the high technology sector." Sibbald is author of "The New Career Makers" (Harpers Business, $28.50), an analysis of the nation's top recruiters. He estimates that retained recruiters earn $150,000 annually; contingency, $50,000. Many make much more.
The work is demanding. "Executive search is fiercely competitive," Sibbald said. "It takes tremendous analytical and presentation skills. Recruiters are counselors to business and go beyond placing bodies and walking away."
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