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Management Recruiting.
9 Tips to Consider, Filling sensitive and crucial bank positions these days is not always easy. read more >>

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Featured Articles - Choosing A Management Recruiter by Timothy Loughlin

The right mix of qualities is crucial when deciding who is the most effective management recruiter
for you.

9 Tips to Consider

Filling sensitive and crucial bank positions these days is not always easy. The pool of candidates is enormous, and sifting through them time consuming. Even the, the best candidate may be one who does not respond to help-wanted advertising. For many banks, the answer is obvious: hire a recruiter. But that begs the question, Which one?

If you are a locally oriented community bank and searching for a competent senior or middle management officer, a large national search firm is probably not the answer. How then do you select the most effective management recruiter for you? Here are some tips specifically geared for the community bank. You need to observe and ask questions.

1. Pick a Recruiter You Know and Respect.
Keep your eyes and ears open even when you don't have a specifc need. Learn fiom experience and observations of other bankers. Get to know the recruiters who participate in your banking association activities. The recruiting firm you want should be devoting a substantial part of its efforts to the banking and financial services industries. It's best if you select advisors - be they lawyers, accountants, or recruiters - before you face a crisis.

2. Pick A Recruiter Who's Successful.
As you meet Recruiters, ask specifically what institutions they've worked for and what positions they have assisted in filling. As you hear of banks filling middle and senior management positions, ask what their satisfaction was with the process and the results.

3. Pick a Recruiter Who Knows Your Market.
In most cases, the suecessful candidate for a community banking position will come from your home state or not far beyond. Talk to the recruiter about the banking institutions and senior banking executives he personally knows. If he doesn't know the players in your market, they're probably not the best choice.

4. Deal With A Principal.
You want a principal in the business to be personally involved in recruiting your important management addition or replacement. The individual you've gotten to know and respect is the person you want talking to your prospective employee on your behalf. That individual should be experienced in bank recruiting.

5. Avoid Clientele Conflicts.
If your candidate is likely to come from a large regional bank or from a particular competitor or competitors, you don't want a recruiter who is prominent in recruiting on behalf of that potential source. Ask the questions before you choose.

6. Pick a Recruiter Who Understands You.
Chemistry and understanding in relationships requiring your reliance on advice are important. Ask specific questions about the recruiters characteristics.

7. Pick a Recruiter With Experience.
Personal selection requires, among other things, a certain amount of wisdom and judgement that usually comes only with time. Exposure to banking in good and bad times can be an important recruiter credential. Ask for references.

8. Pick a Recruiter Who Works for His Pay.
Ensure that the recruiter you select is qualified and willing to assist you with job descriptions and compensation suggestions. Make sure your selected recruiter is prepared to search widely enough and interview a sufficient number of candidates to assure you have a choice of several or more superior candidates. Ensure that your recruiter is prepared to continue the search cheerfully until you find the right person. You must ask specifically about the process and the timetable that is suggested and ensure, before the recruiter is selected, that your are satisfied on the issues involved.

9. Pick a Recruiter Who is Experienced in Dealing With Individuals in Banking at the Management Level and With the Expertise You Need.
The recruiter must have sufficient technical banking exposure to talk intelligently to you and the potential candidate. If you are a community bank, that recruiter needs to know fundamentally how
the bank is organized and operated.

Timothy Loughlin is President of Bankers Search, Inc., a Madison, CT based executive recruiting and placement firm for the banking industry.

Timothy Loughlin


Bankers Search, LLC
P.O. Box 854 Madison, CT 06443
Tel: (203) 245-0694 | Fax: (203) 245-9567
Email: tloughlin@bankerssearch.com