With there being many different routes to securing a role, who is best to go a with? An internal recruiter (who works for a specific company) or external pensions recruiter?

In our experience, we have seen good and bad on both sides of the fence. This blog covers the 4 things I would look for in a recruiter regardless of approach. 

Understanding:

At the heart of any fruitful recruiter-candidate relationship lies understanding. It's not just about ticking boxes but delving deeper into your aspirations, motivations, and the essence of what you seek in your next career move. A pensions recruiter who invests time in comprehending your unique journey is more likely to align opportunities with your long-term goals.

Be honest (even when it's bad news)

Transparency is the cornerstone of trust.

Exceptional pensions recruiters uphold honesty, even when it means delivering unwelcome news. They don't shy away from discussing potential mismatches between you and a role or being forthright about historical bonus structures and company turnover rates.

Genuine conversations pave the way for informed decisions. If you are worried they aren't forthcoming with this type of information, don't shy away from asking the questions.

Are they credible?

Evaluating a recruiter's credibility is crucial.

Do their perspectives align with your industry understanding? Are they familiar with the intricacies of pensions recruitment and the current hiring trends?

While experience is essential, the depth of their expertise matters just as much. Whether it's their grasp of hiring managers' preferences or their nuanced understanding of pensions, credibility lays the foundation for a successful partnership.

How are they paid?

This is a side of the pensions recruitment industry I don't hear discussed that often however, delving into the intricacies of how recruiters are compensated provides valuable insights into their motivations and priorities, shaping the nature of your collaboration.

Internal Recruiters: These professionals provide an invaluable insider's perspective as they should be immersed within the company they represent. However, their focus may lean more towards their organisation's needs, potentially limiting their broader pensions market insight compared to external recruiters.

No Win No Fee Recruiters: Offering a wide spectrum of opportunities, these recruiters operate under a unique compensation model where their earnings hinge on successful placements. While this can present a diverse range of options for candidates, it's essential to recognise that their incentives might be skewed towards encouraging job transitions rather than considering the best fit for your career goals.

Retained Recruiters:  Retained recruiters receive an upfront portion of their fee to conduct the search, allowing them to focus on understanding your needs and goals. Their priority is filling the position, leveraging their in-depth knowledge of the business, role, and recruitment process. Similar to no win no fee recruiters, a significant portion (around 30% - 50%) of their pay is contingent upon successfully filling the retained position.

Partnership Recruiters: Blending elements of both internal and retained models, partnership recruiters offer a balance between insider knowledge and dedicated service. While they may not cover the entire market, they collaborate closely with select firms, enabling them to provide tailored guidance and across a broad selection of roles. Their compensation typically revolves around a monthly payment structure, fostering sustained engagement and ensuring their commitment to your success extends beyond immediate placements.

So who which recruiter do I go with?

Here at Zatori, we deploy the partnership model 90% of the time. We believe it provides a great blend between the internal and external models however, there really is no one size fits all answer to this.

The right recruiter is the one who resonates with your needs and preferences. Don't hesitate to explore different options and put recruiters to the test. Your journey deserves a partner who not only understands but also champions you.

If you'd like to see how we can drive forward your pensions career, book a call below!

Martin

Co-Founder