Headhunters are well-suited for this. But because it’s so time consuming, they charge a small fortune. The fee is 20 percent to 33 percent of the candidate’s compensation.
Now, a dirty little secret of the Headhunting industry: this price has been fixed for about 60 years. While prices have come down in all sorts of other “middleman” industries, Headhunters still charge a king’s ransom.
So, engaging a Headhunter to find your $100,000 employee will cost you nearly $30,000.
And a $200,000 executive can cost you $60,000.
Ouch. That’s a painful check to write.
In addition to the sticker shock, the process drags on and on. Because most headhunters work on 10 to 20 searches at a time—and there are only so many hours in a day—each project can take 3 to 4 months from beginning to end.
Meanwhile, you’re up against the wall because Sally just gave her 2 weeks notice.