BountyJobs Headhunter Index Shows Third-Party Recruiting Upswing

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New BountyJobs Index Offers Insight into Hot Market Trends

...the third-party recruiting industry rebounded sharply from the recession...

BountyJobs, the online marketplace that connects corporate recruiters with a national network of seasoned headhunters in seconds, today announced encouraging news based on trends from the BountyJobs Headhunter Index, the first nationwide index that tracks jobs that companies fill using headhunters.

The most significant trend spotted in the first release of the survey, based on data through March 31, is that the third-party recruiting industry – recruiting done through the headhunter channel – rebounded sharply from the recession during the first quarter of 2011.

The BountyJobs Headhunter Index shows that despite the ravages that the recession brought to hiring and the recruiting industry:

  •     The number of jobs companies sent to headhunters surged in the first quarter of 2011, jumping 36 percent over the comparable quarter a year previously and reaching its highest level in two years.
  •     The average fee paid to headhunters throughout the recession stayed remarkably constant, hovering around 20 percent. It varied less than 0.6 percentage points between January 2009, when hiring through headhunters was at its lowest, and March 31, 2011.
  •     The average dollar amount of fees paid to headhunters has risen dramatically since the third quarter of 2009, signaling particular strength in the jobs being sent to third-party agencies.

As the preferred contingent search solution for more than one-third of the Fortune 500 and with more than 10,000 approved headhunters in its marketplace, BountyJobs is constantly tracking massive amounts of data on jobs that go to headhunting channels.

BountyJobs CEO Mike Hard said the jump in jobs posted with BountyJobs is an important leading indicator of broader hiring down the road.

“Jobs filled through headhunters are generally more senior-level positions and more critical to an organization, and that means they’re a harbinger of either good or bad news in future hiring, depending on if their postings are up or down,” Hard said.

Lou Adler, president of the Adler Group and a bestselling author and recruiting industry expert, agreed with Hard’s assessment.

“As the hiring market heats up, third party recruiters with deep networks of top talent emerge as the key people you want to know,” Adler said. “Interestingly, BountyJobs has many of the best of these third-party recruiters already engaged in their network. If their data shows more people are sending jobs to search, that means even more jobs are coming soon.”

A more complete look at the first release of the BountyJobs Headhunter Index is available in the new report “The BountyJobs Headhunter Index: A Unique Look at Trends in Third-Party Recruiting.”

The BountyJobs Headhunter Index data that shows strong consistency in the average fees paid to headhunters (as a percent of hired candidates’ first-year salaries) also bodes well for the headhunter industry and the recruiter-headhunter relationship, Hard said.

“It shows that third-party recruiting agencies that survived the worst recession in 50 years and continued to offer quality results were able to maintain their fees,” he said.

“One would think the fees would drop along with the demand for headhunters’ services,” Hard said. “That didn’t happen, at least not among headhunters that pulled through. Most of them are well positioned for strength in the upswing.”

About BountyJobs
BountyJobs is an online marketplace that connects recruiters and employers with a national network of seasoned headhunters in seconds. Rather than being chained to the phone with headhunters all day, BountyJobs guarantees efficient collaboration with the headhunter channel through a single Web-based application. BountyJobs is the preferred contingent search solution for more than one third of the Fortune 500, and our marketplace features more than 10,000 approved headhunters.

Happy headhunting.

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Asaf Katzir
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