When you’ve spent years building an efficient, high-billing desk in a market you’ve grown incredibly accustomed to, it can be tempting to keep yourself within the sector you know and love when looking for a new role. It’s understandable to think this way – why would you want to risk a successful career billing within a market that you’ve spent time and effort getting to know?
There are actually quite a lot of reasons why you might want to do this, and many recruiters are already taking advantage of them! Last year alone, over 50% of the recruiters we placed moved into a different market, giving them the opportunity to develop their career in a completely new space in a business that suits them. Like everything in recruitment when it comes to a finding a new role, it’s important to weigh up all available options (regardless of sector) and figure out if the benefits of moving into a new area of expertise is worth the risk of leaving behind a successful role in a market you’re adjusted to.
With that in mind, let’s take a dive into some of the reasons you might consider moving into a new market when you’re looking for a new role…
The chance to increase your earning potential…
A need to increase earning potential is one of the most common reasons consultants come to us looking for a new role, and while a lot of this can depend on a firms’ unique commission structures and a consultant’s performance, the type of market you’re working in can play a major role too.
Making the move to a recruitment market with higher average fees, stronger recruitment fees and an overall more profitable structure is one obvious way of increasing your earning potential. By working in a more lucrative sector, it becomes easier to take advantage of generous commission schemes, and you often end up billing more for the same amount of work you do in a less advantageous market.
If you’re already coming from a market that already has all these things, however, you can still increase your earning potential by switching to a new sector. If you’ve spent too long in a particular role or a particular sector, and you’re starting to feel the lack of motivation getting to you, a switch into something new can be exactly what you need to kick-start your motivational attitude and reignite your drive.
Increase your opportunities when securing a new role…
If you’re already on the hunt for a new role but haven’t considered stepping out of your own comfort zone regarding your market, you’re probably missing out…
While there are fantastic companies across every recruitment sector, sticking within your particular market can limit the number of opportunities available to you – especially if you’re entrenched within a very niche recruitment sector. By opening up what sector you’ll consider working within, the huge increase in opportunities opens up too.
That doesn’t just mean the number of opportunities increases, but also the number of roles that match your specific requirements can grow too. If a recruitment firm ticks every single box (great salary, strong commission, amazing culture & environment), but isn’t in the sector you currently work in, you can be excluding yourself from incredible businesses without due consideration for how well they might work for you.
Develop your career across multiple disciplines…
The phrase ‘jack of all trades’ springs to mind whenever the idea of diversification comes to mind – surely it’s better to be a master of just one particular market than spread yourself thin across multiple sectors? However, the original meaning of this phrase has often been misinterpreted as it’s actually intended to be a compliment! “Jack of all trades, master of none is often much better than a master of one.”
In a world were developing in as many areas as possible is becoming more and more important, it makes sense to open yourself up to new experiences in your recruitment sector, too. By moving across to a new sector you’ll be developing a new set of skills and taking in knowledge of something completely different to what you’re sued to. The kind of flexibility this gives you in the future is essential to securing more senior roles down the line, as you gain a proven track record of adaptability across multiple markets!
Not to mention, by considering roles across multiple markets you’re leaving yourself open to more businesses – many of which may operate much stronger learning and development opportunities than any of your previous options would have given you. Developing your skillset is an integral part to advancing your recruitment career and switching markets it’s a great way to go about it!
Expand your recruitment network…
Creating a strong network of clients and candidates is an essential part of building your recruitment career – and while it can seem tempting to stay within the same network you’ve built up within one sector, by moving to a new field you’ll be creating a whole new network that could become even more useful as your career develops!
The great thing about expanding your network is that it can often work in mysterious ways. It’s easy to feel like you’re abandoning a set of important connections if you’re moving to a new business, let alone a new market, but you’ll often find that many of the previous connections you’ve built up becoming incredibly useful in helping you succeed in a new sector. By continuing to grow your network across multiple fields, your ever-expanding list of connections becomes more useful as your career develops!
Completely avoid dealing with Restrictive Covenants…
Not everyone has to deal with them, but if you have dealt with them, you know how much of a pain they can be. A set of restrictive covenants from your previous employers can often make you feel like your access to your market is massively restricted for a large amount of time. It goes without saying that if you expand your opportunities to include businesses that aren’t competing directly with your current employer, you’ll suddenly no longer have to deal with this issue at all!
Without having to abide by a strict list of rules, you’re suddenly open to exploring a whole new market without any boundaries whatsoever. In many circumstances, the freedom this offers can be much more lucrative than simply sitting on your hands and waiting for your previous market to become available to you again. So, while entering a new sector might require a bit of time for you to fully understand a new market, by the time your restrictive covenants from your previous role are up, you’ll already be off to a fantastic start.
So why bother doing anything else?
There are of course a number of genuine reasons why someone might stay in the market they have an intricate knowledge of, and we certainly work with many successful candidates that stay within (or close to) their current market! But the opportunities of switching things up are often too big to pass up for many recruiters, and so by opening their careers up to new markets, suddenly the opportunities seem limitless!
If you’re looking for more information on how to go about changing sector in your recruitment career, get in touch with our team to start a confidential discussion.