The executive head hunter is increasingly becoming an in-house role.
Carol Hymowitz and Jeff Green of Bloomberg Businessweek report that executive head hunter duties are increasingly moving in-house at some of the biggest companies.
“General Electric, Coca-Cola, Pfizer, Microsoft, and Nike are increasingly using their own executives…to recruit talent and avoid fees that can run as high as 40 percent of a new hire’s first-year compensation,” Hymowitz and Green write.
Head hunting outfits are reporting that in “the last 12 to 18 months,” big corporations are poaching some of their best talent to lead recruiting in-house. Thanks to new technology and social networking sites, it’s become increasingly easy for companies to bypass executive head hunter firms in their search for talent.
Hymowitz and Green report that “GE has built an internal recruiting staff of about 500 in the last six years,” and that team, “helped by LinkedIn and BranchOut, filled most of GE’s 25,000 openings, about 10 percent of which were executive and senior professional positions.” Read about the full impact of this shift in the full article and consider repositioning your own recruitment efforts.