One of my former CFO clients referred a local finance recruiter to me, suggesting it would be mutually beneficial for us to talk. I love when these kinds of collaborative relationships come together. Far too often they don’t. Recruiters seem to either love us and recognize the mutually-beneficial synergy that results … or they view us with disdain and no one wins. But I digress.
Here are some things he shared with me …
— The market is definitely moving. Still slow, but moving. Searches are still taking a long time, but companies are hiring. He said there are currently four simultaneous searches for PE-backed company CFOs in Tampa … something he’s never encountered in his 20 years of recruiting.
— He attributes “long, slow” searches to companies wanting the “right” candidate, not just any candidate. They are quite clear about what they want and are willing to wait … sans a solid networking introduction who can influence a company’s thinking.
— With so many Americans underwater in their mortgages, less and less companies are offering relo packages. He feels local candidates will become much more competitive if this trend continues. I heard this same information in a webinar last week.
— His preference is for passive candidates rather than unemployed candidates. The perception is that they are still working for a reason, despite the high unemployment rate.
In recruiting Chief Financial Officers, the more things change, the more they remain the same.