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Tech companies are hiring, but not “full throttle,” according to a Boyden’s rundown of various industries and their executive hiring plans around the world.
Financial services firms are “cautiously optimistic.” Demand for execs in life sciences is increasing. Retail companies are looking for people who can integrate online and offline sales. Energy companies worldwide are searching for C-level talent, but are a little more cautious in the U.S.
More on the survey here.
Pharma’s the hottest industry worldwide, according to a Feb. 1 survey from Antal, in partnership with SearchPath International.
In order, these sectors have the the highest levels of recruitment at the professional and managerial level 1) Pharmaceuticals; 2) Manufacturing; 3) Engineering; 4) IT software; and 5) Banking. (More info.)
Education and shipbuilding.
India, UK, Nigeria, and Russia. (More info.)
Spain and Hungary.
In January I am often asked, “How do you develop your sales and recruiting strategy and what will your underlying tactics be to ensure you hit your goals in the upcoming year?” “How do you plan for the new year?” “How do you intend to identify new accounts and decide what market segments to pursue?”
These are great questions that require time and attention, but when? Now. Now is the time to be building your strategic and tactical sales plan for 2010. From my sales leadership experience I always found that a strong Q1 always set the tone for the remainder of the year. The activity and foundation you lay down in Q1 sets the table for the rest of the year. Here are my thoughts on developing your strategic sales plan and underlying tactics that support that plan. keep reading »
Q: The client signed a “retingency” agreement. The search begins on September 2008 and goes until October 15, 2009, more than one year later, when the client suddenly informs us after 16 candidate submissions and 10 interviews, that they have decided to not hire for the position.
Facts: There were two interested and qualified candidates they were speaking with at the time they decided to not hire for the position.
First, deciding not to hire for a position invokes the equitable (“conscience of the court”) theory of prevention.
Let’s say you pay a painter a deposit to paint your house. He buys the paint, hires a crew, and drives the truck to your house to start work. You lock the gate while everyone’s out on a beer break in your front yard.
You prevented their performance, so you owe them the balance for the job.
A second theory is promissory estoppel. The painter “reasonably relied” to his “detriment” on your promise to pay for the paint job. His reliance damages are his expenses, and whatever else the contract provides (attorney’s fees to collect, court costs, etc.).
Why? You are estopped (legally stopped) from asserting that no contract existed because you caused him to rely on its terms.
Then a third theory is breach of the implied covenant of good faith and fair dealing. The painter’s contract didn’t say you promised to leave the gate open. But a court will just assume that it was implied because painters don’t reasonably expect to be locked out of a house in the midst of a paint job.
Under any of these three theories, you’re entitled to the balance of your retainer. Your performance was rendered impossible by the client (prevention), you relied on the promise of full payment to your detriment (promissory estoppel), and the employer failed to cooperate with you so you could complete your performance (breach of the implied covenant of good faith and fair dealing).
If there are no additional facts, that fee is yours!
This and the other question you had were great questions. The answers are worth two well-earned placement fees. Best wishes in collecting them!
What if there is a signed ‘retingency’ agreement (retainer fee paid with a refund clause in case of non-performance) that goes just fine in the case of the retained position being filled and fully paid, but the candidate’s wife is also hired for another position within the organization, but not paid for?
Facts: Client is a hospital in North Dakota that hired a director of surgical services and his wife. We were paid for the director but not for his wife.
Our fee is always due and payable once you hire/employ or utilize the services of candidates who have been referred either directly or indirectly through our efforts.
Delighted to reply.
Some call it “retingency” and others “container.” They’re two synonymous words designating a hybrid retained-contingency fee search. But the placement law analysis is the same as a “straight contingency fee” arrangement.
Absent a job-specific fee arrangement that states the target position, a full fee is due for each placement.
In this case, you “referred” the second candidate (the placed candidate’s wife) pursuant to your search agreement by submitting her resume.
If there are no additional facts, that fee is yours!
Q. Neil, I have been trying to take advantage of the slowdown to network with a lot more candidates for my future relationships. However, I was wondering if you have any tips to make it easier to source names?
A. I can’t tell you how thrilled I am that I am now getting more and more questions about the candidate side of the biz!
Sure, job orders still aren’t the easiest to come by, but the good recruiters know that the Yin to the recession Yang is that there are now great super candidates around who would have been virtually impossible to connect with a few years ago. The GOOD ONES know that this is the time to seize those relationships that will yield plenty of fruit in the future!
It makes me cringe when people tell me that they aren’t recruiting as much because they “don’t have to.”
“Job orders are what we need,” they tell me. The candidate flow drops and the focus on recruiting dwindles. They say they have plenty of people to fill any jobs they get. BUT THEY MISS the point, don’t they! So, I hope you are a good one and that you get that this is the time to CARPE DIEM! Work your tail off to meet and network with as many candidates as possible. You know how that works. Just like LinkedIn, they tell someone about you who tells someone and voila. The more you meet, the more leads you get (that’s a whole different topic), the better the quality of your sendouts (or temp fills), the less likely a falloff will be (or shortened assignment), the more likely you will get unsolicited candidate referrals from them, the more likely some will turn into clients in the future, yada yada yada.
So, start recruiting and sourcing! Now, remember this very simple tip. First, NEVER ask someone “who do you know who is looking.” UGGGGH!!! We never care about that. We just want to know good people. In fact, we just ask them to point us in the direction of any good people, “regardless of whether they are looking or not, in fact, I am sure they are not.”
That said, this still doesn”t work well, and you know it. That is why most recruiters stop asking it all of the time! Lets face it: when you ask someone that, even if you ask it the right way, they will likely tell you the famous “nobody comes to mind.” Well, that is the normal reaction. So, what you have to do is make them “come to mind.” And you simply do that via the power of visualization. It is quite simple, but to get someone to come to mind you need to direct the mind and put them in the mind.
ALWAYS ask very specific visual questions when sourcing. For example, instead of “who do you know who is really good,” you can ask a better question: “who do you know who is really good in your current department.” Even better: ask them to “picture their office right now and think of all of the players there in your discipline. Then ask them to think of the person or people who everyone seems to respect or who the go-to people are. Get it? If you recruit BIG 4 CPAs, for example, ask them to go back to last year when they sat in the bullpen waiting for an assignment and ask them who those people were and who were the good ones who were always requested. In other words, just ask very specific questions so that they can place their mind in the right place. Then, it’s just about impossible for most people to say that “nobody comes to mind.” Happy sourcing!
Ask Neil any question that is vexing you! Have trouble closing deals or selling? Neil can help! To ask your question and possibly have it published online, email Neil at Neil.Lebovits@TheDynamicSale.com and put the words Nudge Neil in the subject.
Neil Lebovits, CPA, CPC, CTS, before taking the industry by storm as a trainer, was a global president for Adecco, where he sat on the global executive team. Previously, he was the president and COO of Ajilon Professional staffing for North America, where he oversaw over 100 offices. He has done it all in the industry: Permanent & Temporary Placement, Sales, Branch Management, Regional Management, COO, & President. He founded his industry training & development company, http://www.TheDynamicSale.Com, in 2009. He shares the secrets and systems that he has developed and harnessed while working himself up over his 20+ years in the industry. A renowned leader, motivator, trainer, and speaker, he has appeared on Bloomberg TV, CNN, ABC news, CNBC, the Wall Street Journal, Fortune, and Smart Money. Learn more about Neil and sign up for his free online training course at www.TheDynamicSale.Com.
Q: How does the court system protect my client and candidate files as trade secrets?
If you have a valid employment agreement (only a 20% chance), there are two sure ways:
Injunctive relief to stop unauthorized use. The federal and state courts use procedures known as a temporary restraining order (TRO) and preliminary injunction to immediately stop and freeze any use of your client and candidate information.
This is followed by the award of money in the form of compensatory, punitive, and exemplary damages. These awards regularly extend into millions of dollars, and often include attorney’s fees.
In 1973 when I wrote the only trade secrets act for our industry (California Business and Professions Code, Section 16607). Since that time, there have been many general trade secrets laws enacted by state legislatures.
The most significant is the Uniform Trade Secrets Act. Since the UTSA is essentially the same in the dozens of states that have adopted it, there are many published decisions at the federal and state levels interpreting it.
From time to time, I have been featured on The Dr. Phil Show.
Four years ago, I first appeared on his show to help one of his “guests” find a job. Since then, I’ve written two books on how to find a job, The Job Search Solution and Acing the Interview, as well as developed America’s only 45-hour online job search program.
In 2009, I flew to California for two days to prepare for another appearance. The majority of us know very little about television production, but the lessons of business that can be gleaned from watching this organization “produce” their product are astounding.
I constantly hear the lament of “Why don’t my new hires get it? Why won’t they do the work?”
They often feel they have hired the wrong person.
Frankly, sometimes they have.
A: EPL is very expensive coverage, but it is essential if you employ recruiters, have more than one office, place temps or contractors, or are an absentee owner. It covers costs of defense (the “duty to defend”), has the indemnity (claim coverage) provision, and a deductible.
It covers everything from discrimination to wrongful termination claims. There are usually many witnesses, the cases can be complicated, and government agencies are often involved. So the costs of defense can be high.
In employee lawsuits, owners and managers are typically named as defendants. Having this insurance may either give you protection or motivate plaintiffs to focus on corporate responsibility — because they know the “deep pockets” of insurance will be involved.
Not only are the costs of defense high, but the claims can be astronomical. Back pay is much less than front pay which is theoretically unlimited. The case law usually limits it to three years, but decisions vary widely. Fines, penalties, and taxes are often added.
If you risk this, check with your broker. Review the costs and coverage, carefully read the policies yourself, and select the highest deductible you can withstand. (Don’t worry about which carrier you use, but make sure it’s one with sufficient reserves.)
I recently led a class called, “End Game: the final critical stage in getting your candidates hired.” One of the things I discussed was providing your candidates with exact scripts for their interview process. The topic where this is most relevant is the question of salary. You want to be sure that your candidates memorize their answer to this employer question, “What are you looking for in terms of salary?”
Here are two possible answers (the first one I heard from Peter Leffkowitz):
It is well worth your time to role-play this with your candidates. Before you offer them a script, ask how they were planning to answer that question. Chances are that their answer, and their delivery, will make you very nervous. Spend a few minutes with them so that their answer to this important question will sound crisp and confident.
I once read a quote somewhere that went something like this:
“The axiom that says ‘Nothing avails but perfection’ can be spelled p-a-r-a-l-y-s-i-s.’ ”
Something we’ve all been bred to believe is that you must always “do your best.” In theory it sounds like a good thing to say to a child, but I’m not so sure it is always useful.
For instance, in my work with recruiters and owners, I have found that they spend way too much time beating up on themselves about all of the things they are not doing correctly on a regular basis. If this led to positive change, that would be fine. But this tendency often leads to “phone fear” and procrastination.
I’d like to suggest that you don’t have to always do “your best.” If you did your best every day, that would mean that you would need to make more calls today than ever before — and you would have to make even more tomorrow. These would need to be your “best” marketing calls ever and of course tomorrow, they would need to be even better.
You don’t have to make your “best” marketing call ever — just make the damn call. Then make another one. And another. Better to keep an even keel and do consistently good work than to get stressed out and hung up on always doing “your best.”
What will law firms look like in five or 10 years? What kind of talent will they need?
One thing — among tremendous uncertainty – is certain. There is a revolution going on in the legal industry.
What once was is no longer. What was predictable has been turned on its axis. The top is the bottom and the bottom is the top. Anything goes and it has and it will continue to be.
What does all this rhetoric mean?
Between the economic downturn in late 2007 and our current 10% unemployment rate, some jobs are gone forever, going the way of typewriter repairmen and streetcar operators.
Some jobs are becoming more automated (secretaries, mailroom clerks, directory publishers, photofinishing, etc.), while careers related to the housing and credit markets may have been “permanently erased” by the bust.
Harvard University economist Lawrence Katz tells the WSJ that “the tremendous amount of economic activity associated with housing, I can’t see that coming back. That was a very unhealthy part of the economy.”
The American Staffing Association claims that continued growth in temporary help bodes well for overall job growth, a nod to the latest job numbers released by the Bureau of Labor Statistics on Friday.
In the new BLS report, data shows that:
“Businesses are reluctant to hire new employees until they are more confident in the economic recovery, instead preferring the work force flexibility offered by staffing firms,” says Richard Wahlquist, president of the ASA.
As such, he thinks the “consistent trend of temporary help job growth” is a positive sign for overall job growth in the near future.
Indeed, economist Hugh Johnson calls it a closely watched number because “temporary help will become permanent help.”
I conducted an experiment recently and I wanted to pass on some updated information regarding using virtual assistants. Last month, I wanted to check and see how much it would cost to hire people for various tasks in my business via e-lance versus what I was actually paying my staff of contractors at the moment.
What I found was a real shock; I was able to cut my labor costs for certain support tasks by more than 50%. For example, I hired a person to do transcription work for $20 per hour whereas I had been previously paying $75 per hour for the same work. I also found skilled American support staff willing to work on contract for $9 per hour.
This is amazing. What this means is that you can hire someone to do basic research and administration tasks for far less than most of us are paying. If you hire people from overseas, rates can be even lower. You may find that some of these people could grow into a senior researcher role with your firm. Also, because these are contractors, they’re a “flexible workforce” and can work for five hours one week and 20 hours the next week.
If you are not in a position to pay those rates, how about $17 per month for your own assistant? Ask Sunday has plans starting at that price and they were voted the #2 website of the year by Time magazine. The tasks they perform for you are more personal in nature but if it helps you to be more organized and productive, it’s worth it. There has never been an easier time to outsource your time-bandits to people who are eager to help.
Did you know that the quality of the questions that you ask yourself on a consistent basis have a profound effect on your mood, your self-confidence, and therefore your productivity? Weak questions lead to weak results. Empowering questions lead to creative solutions.
Here are some examples of questions that will put you in a weak state:
Here are examples of questions that will put you in a stronger state:
One way to quickly change your mood, and your productivity, is to ask yourself better questions on a consistent basis. The questions you ask yourself send your brain on a fact-finding mission and its job is to come back with an appropriate answer. The first step to asking better questions is just to be aware of their power. The next step is to develop the discipline to think more mindfully about the questions you are silently asking throughout your normal day.
In this age of blast emails and blast postings on LinkedIn/Facebook/Twitter, is this email/posting multitask work style helping or hurting your recruiting efforts and your reputation?
It’s critical to understand both good and bad ways to use technology to grow your business.
Technology has transformed our profession in revolutionary ways. However, an overreliance on technology to replace the phone calls we used to make can be damaging. Are our prospects not valuable enough that they don’t deserve a phone call, an introduction to who we are, and how we work? If you haven’t heard of the term “permission-based marketing,” let me introduce it to you.
Permission marketing is the opposite of traditional interruption marketing. Permission marketing is about building an ongoing relationship of increasing depth with customers. It is the privilege (not the right) of delivering anticipated, personal, and relevant messages to people who actually want to get them.
In the words of Seth Godin (who coined and popularized the term), “Turning strangers into friends, and friends into customers.”
Marketers hail permission marketing as a way to succeed in a world increasingly cluttered with marketing messages that are ignored by some of the best customers. It realizes that treating people with respect is the best way to earn their attention. How this translates into the recruiting world is simple.
We shouldn’t just use technology as a “billboard” and hope the right candidate drives by. It also shouldn’t be used as a semi-targeted “junk mail” and hope the best candidate doesn’t throw out our message. Today’s technology offers us an opportunity to find a handful of the best prospects and establish a relationship with them. Sourcing tools, search string writing, business and social networking sites paired with the “old fashioned” phone allow you to use technology to quickly find and contact prospective candidates.
Once you have introduced yourself and gained “permission” to establish a relationship, then technology such as a CRM and/or ATS can be used as a way to reach out to those prospects and continue to build relationships.
Below are some products that help you reach out and build relationships with potential candidates.
To me, responsible e-recruiting means making effective use of technology to establish relationships and build trust with a pool of top-notch potential candidates. Our industry and professional reputation is damaged with each successive blast of unsolicited emails that ends up in someone’s trash.
Bullhorn’s ATS/CRM is a great option to consider for permission-based marketing. Bullhorn’s offering aligns nicely with the permission-based marketing concept. Bullhorn’s web-based, integrated front office combines all of the applications you need into one, providing users with full ATS and CRM functionality.
Bullhorn has an integrated front office that integrates email. Therefore, a candidate and client record will not only include the usual information, resume, address, phone number, etc., it will also capture all of the communication, activities, tasks, emails, and notes that occur with that candidate or client record. With Bullhorn, candidates/clients have the ability to “opt in” or out of campaigns. They allow the email recipient to unsubscribe if they choose to do so.
Let’s say you want to send an email to all of your candidates (who are passively or actively interested in opportunities) with the title VP of Sales in the medical device industry who have been in your database for 2 years. Simply generate a query, define your parameters, save the results into a distribution list, bring the list into your email system, and select send mass mailing. Then you are able to personalize the email prior to sending it. The campaigns you can create are endless and a very effective way to stay on top of your prospects.
I would like to thank Joe Cordo VP of Marketing at Bullhorn for taking the time to talk with me about Bullhorn’s powerful permission based marketing platform. For more information on Bullhorn, email joe@bullhorn.com or visit http://www.bullhorn.com.
E-Mail Campaign Tools
If you are looking for a stand-alone email campaign tool, there are several on the market: Campaign Monitor, Constant Contact, and iContact.
The cost of a campaign starts around $5.00 and goes up from there depending on the number of email recipients.
The following is a broad desk checklist that a “recruiting doctor” might want to review in order to help write the correct prescription for one’s desk:
1. Job order to placement ratio.
2. Marketing presentation to job order ratio.
3. Marketing attempt to presentation ratio.
4. Recruit data sheet to placement ratio.
5. Recruit presentation to recruit data sheet ratio.
6. Recruiting attempt to presentation ratio.
7. Candidates presented to candidates interviewed ratio.
8. First time telephone interview (TI) to FTF interview (in markets where TI’s are vital).
9. Offer/acceptance ratio and acceptance/start date (counter offer/no show).
10. Copies of marketing and recruiting scripts/presentations (unless one wings it).
11. Copies of top five areas of candidate and client resistance and outline or script for possible responses.
12. Fee agreements on past 10 job orders.
13. Job order to fill ratio by client.
14. Copies of initial and executed plans for past few weeks.
15. Average daily market connect time/phone time.
16. Average duration per call and most frequently dialed numbers by attempts and connect time for past 10 days.
17. Daily activity by call type for past 10 days (number of marketing presentations, recruiting presentations, preps, etc.).
18. Average time day starts, ends, and duration for lunch or longer breaks.
19. Recruiter’s market, experience, talent and communication skills, attitude.
20. Recruiter’s goals, dreams, desires, objectives.
There is much, much more, but the MOST IMPORTANT QUESTION TO ASK IS THIS: WHAT DO YOU WANT TO ACCOMPLISH AND HOW CAN I HELP YOU GET THERE?
Many of us have been taught a philosophy that it is “all about the numbers,” and if we want to improve our results, all we must do is increase the numbers.
Although based on the principles of manufacturing, it oversimplifies our industry. Numbers, metrics, ratios, and the like are critical in recruiting because they provide us with very important data. I am constantly being asked what the “average” numbers are for recruiters or what is the ideal number of recruited candidates, interviews, placements, etc.
People want simple formulas, and so many oblige with what is “normal.” Recruiters must then realize that normal for someone else is not normal for me and so the numbers lose their meaning and value and as such become instruments of abuse rather than assistance.
Theory X and micromanagement are simply principles of leadership based on looking at details. The problems with this are not the act of micromanaging oneself or others. The problem is IN THE WAY that it is done or in the comparison of data that is done.
Most successful recruiters are type A people with high dominance and low patience and conformity. We don’t like rules and don’t like systems or rules and procedures.
So telling someone to track numbers is hard enough, but then to make generalized statements based on universal metrics is the equivalent of an iPod filled with the sound of nails on a chalkboard!
Fordyce contributor Tim Tolan (who we’re excited to announce is also speaking at Fordyce Forum 2010!) recently had an excellent post on Fistful of Talent about the Good, Bad, and Ugly of last year.
Some of the good in our space? Phones are ringing and search agreements are crossing the wire more frequently!
Tolan writes that “clients want to discuss talent strategies and are engaging in meaningful conversations like never before. It’s like someone flipped the switch in the past 30-45 days and hopefully this increased activity will spill over into 2010…[and] candidates are taking calls again and I don’t hear the fear in their voices. They are very interested in hearing about new opportunities.”
As he points out, “I hope those in the search business have learned a thing or two during this downturn. Hopefully, many will become better financial stewards and business people in the New Year and beyond. I hope many used this time to sharpen skills, add a new line of business, and are ready to get back to business! Ready-Set-Go!”
Customer retention is defined as the percentage of customer relationships that, once established, a business is able to maintain on a long-term basis.
Your database is your most precious asset in this current sales economy, so managing it appropriately can exponentially increase sales and profits. We all must remember that your current clients are only as valuable as the quality of the relationship you have with them — quality judged by that client’s opinion of your relationship.
The old saying that your customers are always right (even if they’re wrong) still rings true.
You need confidence when you deal with high-level decision-makers, strong candidates, and even stronger gatekeepers. If you don’t sound like you have it, they won’t even take your call. And if you do get through, they’ll think you’re an amateur.
Have you ever heard a mousy recruiter on the phone? It’s so sad and sounds something like this: “I’m sorry to bother you, Joe, but you aren’t interested in exploring other opportunities, are you?” What’s even worse is that those recruiters who are doing this don’t even know they sound this way. They think they sound great and confident, but really they don’t.
Here are the seven steps to make confidence a core competency.
One of the most common mistakes we all make is to fail to prospect on a regular basis. Your actions are priceless and as a result, we are the recipients of irregular revenues and inconsistent fees or commissions.
This happens when we’re extremely frustrated or engaged with following many hot leads, and prospects who demand lengthy proposals, multiple meetings, conference calls, presentations, and references. It is this time when we need to be out there prospecting and focusing the key activities that produce new clients to ensure that a steady sales flow doesn’t suddenly disappear.
There’s an interesting discussion going on over at the Video 2.0 for Recruitment blog about the U.S. Army’s $33 million investment in a recruiting video game.
Ernest Feiteira picked up on an item I posted and started a conversation about the value of such recruiting tools. A couple others chimed in about the ROI, something I’m looking into for a future article.
At this point in the discussion, there’s no resolution to the question of how you would calculate the ROI.
However, Down Under, the Aussies must believe that outsourcing their military recruiting pays off because they have been doing it for some years. I know that because I talked with a Manpower spokeswoman about a press release announcing that the Milwaukee firm just won a $200 million recruiting contract from the Australian Defence Force. keep reading »
Here is my own definition of Twitter:
Time
Wasted
In
Trying
To
Escape
Rejection
Take ownership of your success and quit trying to find the silver bullet. In the world of sales and recruiting, your prospects have to be interrupted. Recruiting is based on interruption marketing, not permission marketing, which is the foundation for social networking. With other types of marketing endeavors, such as selling information or services, Twitter might be effective. If you market a message to an audience that cares about what you have to say (except for time-wasting tweets about your latest meal), then yeah, it makes sense to communicate with them.
But to get the attention of a high-level prospect or a passive candidate who doesn’t want to move (the candidate who is worth a full fee), you have to interrupt them on the phone with an effective recruiting call, not a tweet that they’ll roll their eyes over.
Here’s an exception: As a rule, you always want to go to where your clients and candidates are. If you know for a fact that your candidates and clients are on Twitter and are actively reading your tweets, then give it a shot. For example, those who are in IT recruiting. But if you tweet, tweet responsibly. Tweet about value-related subjects, such as career advice, leadership advice, and anything that can solve an immediate problem.
And when you’re done tweeting, get back on the phone. It’s where the action is.
There are good negotiators who are not necessarily good salespeople but you will not find a truly good salesperson who is not also a good negotiator. That’s because sales and negotiation are two sides of the same coin.
As closely connected as these two processes may be, negotiation, if necessary, should begin only after an initial commitment has been reached with your prospect.
Consequently, don’t get dragged into a negotiation unless you have reached agreement in principle to do business together. That’s the purpose of the sales process.
In my negotiation training programs, I stress that all negotiation is based on power, whether real or perceived. A carefully executed sales process will establish what degree of power you possess as you enter the negotiation process. If you have positioned yourself and/or your services in a manner that creates an image in the eyes of your prospect that he/she cannot walk away, you have a powerful negotiating position.
Since the prospect believes they cannot walk away, they will be negotiating from a weak position, a position of need.
Remember
In negotiation, need is death, want is life.
Jim Camp
The best example of need and the negative leverage it creates in negotiating is the recruiter who believes they must make the sale.
This belief will make them accept just about any concession the prospect requests from discounted fees, to an extended guarantee and unrealistic payment terms.
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