Joyce Richman, president of Joyce Richman and Associates, agrees, but urges caution in using this approach.
"You'd better be absolutely sure that people are not only competing for your services but you have an offer in hand, because I think that can come across as a threat," she says. "And it will be an empty threat unless you know that you can turn right around and accept the position that had just been offered to you."
No. 3: Networking is a full-time job
Many executives' success can be attributed at least in part to being well-connected.
"Certainly relationships are a key part of what makes a CEO successful," says Challenger. "Executives often have very high relationship-building skills."
Investing time and effort into creating long-term, mutually beneficial relationships with movers and shakers in your industry can have a whole host of benefits, says Richman.
"I think that (networking) should be a lifelong career strategy," Richman says. "In that networking, be aware of what other people are doing and where they are in their careers, and how you might benefit them as well as how you hope they can benefit you, whether it's in your search or in your current company."
In a competitive labor market, where the best job openings are often filled before they're even advertised and raises can be hard to come by, a web of strong relationships is key, whether or not you're an executive.