Basically, instead of waiting for a particular vacancy to arise, and then needing to find a particular individual who might fit (as in traditional head hunting), search firms and employers can work out who it is they want, establish relationships with these people, and then wait for the right opportunity (based upon particular business needs - but also the career needs of the individuals concerned) for the person to join the organisation.
Continued at: http://blog.social-advantage.com/2008/04/recruitment-20-head-farming-vs-head.html
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