How to handle the headhunters

Dear Doggy,

This is a question that crosses the mind of every finance professional at some point, and so I totally get your concerns. Let me put your mind at ease: you’re overthinking this.

First, let’s address your primary fear: being perceived as disloyal. Speaking occasionally with a recruiter is not an act of disloyalty; it’s an act of professional awareness. Think of it as a variation on networking. Just as you might attend an industry conference to stay current on trends, having a relationship with a recruiter helps you stay current on the job market, salary benchmarks, and which companies are hiring. If your employer were to discover you had a casual conversation with a recruiter, it is highly unlikely there would be any adverse consequences. Most managers assume their top talent is occasionally contacted. The key lies in the context.

There is, of course, a significant difference between cultivating a relationship and actively interviewing, between chatting and cheating, between flirting and fooling around. The former is prudent career management; the latter is a concrete step towards leaving. Routinely taking interviews at other firms would understandably raise concerns if discovered. But simply taking a call, listening to an opportunity, and even saying, “That’s not quite right for me now, but let’s stay in touch,” is perfectly normal and carries virtually no risk.

Even interviewing carries little risk. I knew about people in my team interviewing elsewhere. It happens all the time.

Now, to your excellent point about being the product. While it’s true that you are the talent they are selling, that doesn’t mean you can’t benefit from the relationship. A good recruiter can open the door to opportunities you would never know about. The better ones might know the real story behind a job opening (but don’t get your hopes up —- most don’t have a clue, even if they come across as knowledgeable, because the banks ration information carefully). By building a relationship with one or two reputable recruiters who specialise in your field, you create allies. When you are ready to make a move, you won’t be starting from scratch with a stranger. I’d say it can’t hurt and it might help. The pay-off is asymmetric.

So, what should you do?

1. Be selective: You don’t need to talk to every recruiter who calls. When you get a connection request or an InMail, check their profile. Do they specialise in your industry? Do they work for a reputable firm? Focus on building relationships with the credible ones. There’s no regulation of recruiters and so if you haven’t heard of them or the firm, it’s probably a waste of time.

2. Set boundaries: Be clear and polite. You can say, “I’m not actively looking, but I’m always happy to hear about compelling opportunities in the so-and-so space. Why don’t we have a brief chat?” This sets expectations and prevents time from being wasted.

3. Keep your profile updated: Your LinkedIn profile is your public CV. Keep it current. It signals you are engaged in your professional world.

4. View it as market intelligence: Every call is a chance to learn what skills are in demand and what the going rate is for someone with your experience. This is invaluable information, even if you’re happy where you are.

5. Ration what you say: Don’t tell too much too soon. A lot of recruiters are fishing for information. In fact, a lot of banks interview candidates just to get information and intelligence on their competitors. It’s cynical, and you don’t want to be taken advantage of in this way.

To put it bluntly, when I was a manager, I would never have held it against any employee for maintaining professional contacts, and no good manager would. Loyalty is demonstrated through your daily work, your commitment to your team, and your contributions to the company’s success. I expected my top people to get calls, and I took a few myself back in the day.

The bottom line is stop feeling guilty. Start being strategic. A well-managed relationship with a good recruiter is a career tool, not a threat to your current job. But just remember that most recruiters are fairly limited in what they can deliver and so don’t expect too much.

Best of luck,

Craig