Welcome to The Fordyce Letter:

The Fordyce Letter

Straight Talk for the Recruiting Profession


Cold Calling

Matching, Pacing, and Rhythm



bank_teller

Last week I went to pay some bills online. I looked at my account and realized there were charges listed that I had never made. I called the bank immediately. We shut down all of my accounts and opened new ones.

I went to the bank ten business days later, and I still did not have a functioning ATM card. That meant that rather than simply go to an ATM for cash, I had to wait in a long, long line at the bank for a teller. Twenty minutes later, by the time I got to the head of the line, I was seriously annoyed. I expressed my annoyance to the teller. Her response? “Calm down, Ma’am.”

So my dear readers, do you think this response calmed me down?

Of course not. It had exactly the opposite effect. I went through the roof. “Don’t tell me to calm down,” I snarled. Where before I had simply been annoyed, now I was really angry.

So why am I sharing my banking woes?

Fees, TFL archives

Fee Cheaters: The Basics for Trumping These Dirty Dealers



money_bags

“Fee? I never agreed to pay a fee to hire anyone!”

“We never signed anything with your company!”

“You can say or do anything you want…we aren’t paying you!”

Anyone who stays in this business long enough will eventually hear those dreaded statements. Usually, these are people who know they owe you, but are liars. Lying fee avoiders are easier to deal with than the ones who really believe what they claim.

Business, Entrepreneurship, How-To

Taxes for Recruiters…What You Really Need to Know



taxes

image source: David Reber, Hammer Photography

As a CPA who has been preparing business taxes for over 30 years, I understand that dealing with taxes is probably one of the most difficult parts of owning your own  business.  However, once you realize the importance of taxes and really pay attention to them, you can turn that in to more money for you.

I have several clients who own recruiting firms. One of my new clients, who owns a recruiting business, was amazed when I showed him the tax money he could save.  For every $1,000 of deductions, he saved $460 in cash. This was because he was in the 46% tax bracket (between federal, state, social security, and medicare taxes). He said 46% was much higher than his profit from his recruiting clients and suddenly, spending time on his taxes made a lot more sense.

The following are things you should think about as you are preparing your documents to bring to your accountant or if you do your own taxes.

For Managers, Relationships, The Business of Recruiting

Radio Killed the Interview Star



headphonesatwork

Like most top performing recruiters, I’m a multi-tasker. When I’m in the office, no matter what I’m doing, I like to have the radio on in the background. I fall asleep to the television and I always have music playing in the car even when I’m on the phone.  My husband is the opposite. He turns the radio off when he receives a phone call and mutes the television while he has a conversation. He can’t stand having what some people call “white noise” in the background. He wants to focus on one thing at a time without interruption.

As many of you know, I work within a large CPA firm and perform executive search services for our clients. In my office, most of the employees are tax and audit professionals so the offices and workstations are kept quiet, but a few people use iPods with headsets. Some of the partners even have cable television running while they work. (Admittedly, during March Madness there are a lot more TV’s running!) 

Counter Offers, TFL archives

Why Counteroffers Don’t Work



counteroffers

Two or three times a month we get a call from a person who wants to leave their job primarily because the counteroffer that he or she agreed to three or four months earlier had, agonizingly, not worked out.  Their approach is usually accompanied by an attitude of anger, disappointment, and disgust that they are back looking for a job with more determination than ever. The perceived promises in the counteroffer they accepted didn’t materialize and they are really committed to leaving their job . . . this time.

“Buying” an employee back when they try to resign, a counteroffer, rarely works out, even in the short run. Ninety-eight percent of the time, the employee leaves within six months, and often with more acrimony than the first attempt.

Closing, Interviews

Timing Is Critical



image source: Letheravensoar

“As a general rule, you should assume that time is always against you when you are trying to make a deal – any kind of deal.”

image source: Letheravensoar

Robert J. Ringer – Author

These words are as true today as they were when Mr. Ringer wrote them in his best selling 1973 book, “Winning Through Intimidation.”

Daily, I receive calls from recruiters who want to know how they can get their clients to move with a greater sense of urgency throughout the hiring process. A good starting point is to remind them that, state of the economy notwithstanding, the very best employees are always in short supply and in high demand. Companies have to move quickly if they hope to successfully compete for the most sought after talent. As one recruiter stated, employers fit into one of two categories, “… the quick or the dead.”

Industry News

Surprising Economic Reports Help Lift U.S. Stocks



fordyce-default

With the world’s investors worrying about Japan’s nuclear problems and rebellions of all sorts in the Mideast, the U.S. enjoyed a little good news this week.

Initial unemployment filings dropped more than economists expected, while the Federal Reserve’s Philadelphia branch reported that manufacturing orders in its region were soaring.

The news helped lift the Dow to a nearly 150-point gain by late afternoon Thursday.

Contract Staffing, Social Media, Technology

Fun Friday: 99 Problems, Recruiter-Style



video

I have qualified for my company’s Performance Forum trip nine years out of ten that I have worked there. For the last five years, it has become tradition that I perform a LIVE rap with the band on awards night. Unfortunately, this year, I won but was unable to attend, so I did what I do best and still made sure my tradition lived on: I created a rap video. I was very fortunate to have a wonderful staff of teammates to help me act, shoot, and complete the video on time.

As I was completing the video, I thought it might also be a great way for me to differentiate myself from the competition. I am pretty certain that very few recruiters are making rap videos that their clients get to see.

Business

March Madness…Let the Games Begin



2011 march madness

I was going to write about recruiting for retention, but then I got sidetracked. The NCAA tournament starts today, and I have done my research for my basketball pool at the office. Last year, I entered two brackets; a first in Goodman history mind you. (I always like to be a trailblazer, you know). I went with Obama’s picks as one of my brackets as I figured he has a lot of professional help on his side so why not take advantage of all that statistical information our tax dollars pay for. Then I selected my own. I tied with myself in the end so I was equally skilled in picking my own bracket as I was with Obama’s!

I would hope President Obama spends as much time working on creating jobs as he does his basketball picks, but alas, creating jobs is my full time focus, which got me thinking about how much recruiting is like basketball.

Cold Calling, The Business of Recruiting

“I Want Your Job…”



Sandra McCartt

Thirty six years ago, I was an accountant. Happily or unhappily, as the case may be, putting lots of numbers into lots of big black books. Yes, they were big black books. Edison had invented the light bulb but Microsoft was some kind of fabric that kept small children and big dogs from making a mess on pillows . Being not too long out of a divorce I was focused on talking on the phone to discover what was going on with the rest of the world of newly divorced people — planning where and what time the “young and the restless” were going to solve the problems of the world that night. In a fit of pique, my boss walked by my office and uttered the now infamous words, “Why don’t you go find a job where you can do what you do best…talk on the phone.”

Now if you have ever been divorced or have spent much of your life putting numbers in little boxes, you know the mind set du jour of someone who is newly divorced and doesn’t like what they do for a living, either. I remember saying something like, “That’s a great idea, now if you will excuse me, I am on the phone.” I kissed my life as a bean counter goodbye (as soon as I got plans firmed up for the evening), picked up my purse, and headed to the nearest employment agency.