The task is all the more difficult as the ideal person may not be actively seeking a new job at the time, and it’s then that a head-hunter’s communication and interpersonal skills come to the fore.
Finding that person who’s a perfect fit can also make or break a head-hunter’s reputation as it can take years to build relationships and understand the nuances and demands of a specific industry.
“The biggest challenge is finding quality people. The client is striving to get someone who fits their company culture, because they’re all different – even though they’re all in the same industry,” said Jan Gallagher, a financial services veteran of 30 years’ standing, shortly after being appointed national head-hunter at KFS Recruitment, a boutique recruitment agency which focuses on the specialist lending sector.
“Everyone wants to have something slightly different, and you could have six lenders looking for a candidate in London,” she added. Read more: KFS Recruitment appoints national headhunter
Her decision to join KFS, where she will cover mortgage, buy-to-let lending, and the bridging space, was heavily influenced by her long-standing friendship with director Kerry Stephens, who described Gallagher as “one of the friendliest professionals in the specialist lending sector”.
Asked why she took on the role, Gallagher said: “There’s a real need for people who have an understanding of the roles out there and what it’s like to be
working for a lender, and see both sides…from the lender’s perspective, but also from the recruiter’s perspective.”
Pitching the right candidate was more than just about job experience or being enticed with the right basic salary, she stressed.
“It’s about the bonus structure, how the whole role looks. Because I’ve been that candidate,” she said.
But what qualities attract her about the person she’s seeking to hire?
“There has to be a drive within them – a self-starter, someone who understands the industry and is enthusiastic and passionate about the product that they’re selling,” she said.
That can sometimes mean taking a chance on a person who may not appear to be the right fit and who may, at first glance, lack the necessary experience, but it’s a gamble that can pay off handsomely…“if they have passion, charisma, and they’ve got that kind of personable approach, because it’s hard to train into someone that kind of characteristic in a person,” she said.
Gallagher started off in investments and portfolio management by way of Lloyds and NatWest before completing roughly one-year stints at a number of bridging finance firms and home loan specialists.
During that time, she said she gained a wealth of experience, but, most importantly she learned that sometimes you have to say ‘no’ to a deal, however difficult that may be when you’re inexperienced, lack confidence and are just starting out on the job market. Read more: BoE’s remit is to maintain inflation close to 2%
“When I was young, I just wanted to get every type of business in through the front door,” she said. “But sometimes you have to walk away from the deal.”
During such times, she learned that a potentially awkward situation could still be turned around. “If you can’t do the deal but maybe offer a lender who can, it really holds you in high esteem,” she reflected.
Gallagher, however, admitted that her biggest challenge to date happened more recently, negotiating through the COVID pandemic during lockdown, like so many other people.
“We all had to adapt during COVID,” she said. “Brokers were under a lot of pressure to get business in during the middle of it, so that was a difficult time. Lenders (also) had to think how they were going to process these mortgages with the systems that we had in place – everything happened really, really quickly.”
In the aftermath of the pandemic, labour shortages have become increasingly acute across key sectors, which means that Gallagher and her firm might see themselves in greater demand at a critical time.
“Because it’s difficult to find good quality people, it’s absolutely key to use a recruitment agency…and the one thing I can say about KFS is they have a strong knowledge of the candidates and the people that are working with the different lenders,” she said.
