Searching out the Rainmakers

Michael Moonesinghe, Managing Director of Glover Daniels Executive Search has recently started to write some articles for the  newsletter.

He sent me an article entitled “Searching out the Rainmakers” which I thought I’d use here (sorry that it’s a little long – but it’s worth it!) ….

Whether you call it a recession or a downturn, the fact remains that the recruitment business is about to enter a very dry season. 

Fourth quarters are often lean times in the recruitment business, but many are concerned that this drought could last well into the second or even third quarter of next year.  So, what are other recruitment companies doing about it?  Some have decided to sit by the campfire and carry on just as before in hope that, even though the world is changing, the things that worked in the past may still bear fruit.  Some companies are making sacrificial offerings; slashing fees and letting staff go in an attempt to eke out their meagre supplies – hoping that the rain will fall before their resources are depleted.  Whilst a few have decided to stimulate demand for their services by actually hiring business developers into their teams.

An aura of mystery surrounds people who truly understand how to develop business even in a drought.  Like the shamans of Indian tribes, they do not always expect to see an immediate result, but they do expect to see a dramatic result.  They know that time spent in developing business is time well invested and they know how to make the rains fall.  At Glover Daniels, we call these people the rainmakers.

Rainmakers add value to your company not only by creating rain when the fields are parched, but also by ensuring a consistent supply of life sustaining water throughout the year.  They are the people who source new business and maximise existing opportunities.  So, who are they?

I am talking about a unique breed.  Each is an individual, as different from the next rainmaker as it is possible to be.  They come from a variety of backgrounds and no two will have walked the same paths to get where they are today, but they do have some things in common.

Rainmakers have an extensive network with which they maintain regular contact.  They have intimate knowledge not just of their key accounts, but also of their candidates.  They do not focus only on the personalities and processes, but also the contact network that their clients and candidates have.  As a result, a rainmaker can usually tell you not only who will be recruiting and when, but who is right for the vacancy and when they will be ready to move.  Moreover, if they cannot, they’re able to pick up the phone and talk to someone who can.

Rainmakers have learned how to create new relationships quickly and work to foster and develop them.  They understand just how important credibility is and work hard to build and keep it.  They always seem to be able to get the appointment without effort, to know about the vacancy or an ideal candidate before anyone else does and sometimes to be able to even create a vacancy for the superstar candidate where none exists.  The rainmakers are tireless, they have energy, enthusiasm and tenacity when times are hardest -but they make it look effortless.

You have probably already met a rainmaker.  Think back to your early days, before you rose to your present position or started your own business.  Do you recall the guy who wasn’t making fifty calls a day, but still hit the numbers?  Or the woman who was out of the office more than she was in, but held top position month after month?  They probably work for someone else now, shortening the recruitment process, creating rain and closing opportunities whilst those people huddled around the campfire struggle to even see past the flames.

If you are sat by the campfire right now, you need to stop being blinded by the flames, eventually the fire will burn out and you will feel the cold.  If you are making sacrifices of your fees and your staff you need to consider what will replace them, surely one profitable invoice is better than a few marginal deals.  If you are intent on ploughing on regardless of the drought then remember that crops will fail without someone to provide water.

You always need rainmakers in your business to stimulate growth; but you need them now more than ever.  The market is tight and it is only going to get more competitive.  Already, I have heard of some consultancies that are sacrificing their usual terms and agreeing to break-even fees for even senior candidates; a policy of desperation and one with no way back.  However, have you ever wondered why some clients refuse to replace their retained or preferred consultancy, despite them charging higher fees than yourselves? This could well be because of a relationship that they have with a rainmaker who has credibility and their trust.  In this kind of fragmented, sacrificial market, the only way you can reinvigorate your business, stimulate your team and win long-term profitable clients is to employ a one or two rainmakers of your own.

Most rainmakers do not have up to date CVs; they do not need to, so you will not find them by trawling the R2R agencies or the online databases.  Rainmakers know their worth and so do the companies that employ them.  They understand the power of networking and they will rely on this to advance their own careers when they are ready to move onwards and upwards.  To find your rainmaker, you need to tune into their networks which may include establishing an effective partnership with a search consultancy that has already won their respect, loyalty and trust.

I think that he is spot on in saying that cutting fees and laying off staff is starting to happen.  I also think that the brave firms are the ones that take on staff to create new opportunities in the market.  So, go find your rainmakers!  PS, Love the pitch right in that last sentance!!

Michael Moonesinghe is Managing Director of Glover Daniels.  Glover Daniels is established as one of the leading recruitment to recruitment executive specialists, offering a totally confidential and consultative approach to senior recruitment within the sector. Glover Daniels Executive Search can be contacted on 01344 774920 or via www.gloverdaniels.co.uk.