Welcome to The Fordyce Letter:

The Fordyce Letter

Straight Talk for the Recruiting Profession


Business Development

Business Development, Industry News

Jobs Follow Angel Investments



Venture capital investments

Venture capital investmentsSearch firms looking for growth markets might take a look at where angel investors are betting their money. In the first half of the year, over half the new investments went to three sectors: software, healthcare and retail.

Two of those three are among the most competitive when it comes to hiring. Especially for tech startups, the competition for talent is not just against other like-sized firms, but against giants like Apple and Microsoft and Google.

In a post more than two years ago discussing how to recruit for startups, Robert Woo said, “If a stellar developer even comes within the vicinity of the office, he/she will be snatched up faster than an intern can be stuffed in the server room to make space.”

According to the Center for Venture Research at the University of New Hampshire, software got the largest share of investments with 37% of total angel investments in the first half of this year. Healthcare services/medical devices and equipment and retail each got 10% of the total investment dollars. Biotech was close behind with 9% of the total. IT services and Industrial/Energy got 7% each to round out the Center’s list of the top 6 largest sectors. Smaller percentages went to a variety of other startups and young firms in other sectors.
Business, Business Development

The Flexible Workforce: A Trend You Can Build On



Working women concept art

The head of human resources prefaces a workforce strategy presentation by saying her program idea will lead to more focused work performed by employees; raise employee job satisfaction and retention; boost company morale and loyalty; reduce employee stress and sick days; keep business going during major weather events – and save the organization money in the process. Is there really such a silver bullet?

In terms of company profitability and employee satisfaction, absolutely.

Flexible staffing, which gives employees more control over when, where and how long they work through options like flextime, compressed work weeks, telecommuting and job sharing, is all it’s cracked up to be. It is a crucial workforce strategy when it comes to retaining mid- to executive-level professionals.

As you have likely seen and heard, flexible work options are gaining traction and acceptance in many industries, at all levels and careers.

When we think of part-time work, which in the professional world can take on many meanings (job sharing, project-based or highly specialized work), we too often equate it with working a shift at a factory or fast-food restaurant. Because historically, that is what a part-time position was. But we have evolved past that – so very far past.

Business Development

How I Nearly Lost My Business When I Stopped Marketing



hand marketing buttons-free

hand marketing buttons-freeRecently, a colleague asked me, “What was the most rewarding mistake you ever made in business?”

It’s a great question, and I quickly had an answer for him because it was an incredibly painful mistake. However, it proved to be an invaluable lesson that has served me well in the years since. I’m sharing so perhaps you can learn it the easy way.

The lesson: Don’t ever stop marketing because you think you’ve reached the point where you don’t need to. And, secondarily, believe the old adage that warns, “Don’t put all your eggs into one basket.”

My Story

Years ago, my public relations company connected with a large publishing house that served many prestigious authors. The first few of its authors we

Business Development, Cold Calling

Your Pitch Will Stand Out When It’s About Them



elevatorpitch

elevatorpitchDoes your elevator pitch sound anything like this? Hi, I’m Bob and I recruit the smartest people who can hit the ground running for the best companies in the area. And I can do the same for you.”

Not too bad?

Wrong, says Ian Altman. “The best elevator pitch shouldn’t explain what you do,” he says, “if your elevator pitch talks about WHAT you do instead of WHY people might need what you do, then your message is likely falling on deaf ears.”

Business Development, How-To

Don’t Just Check References, Market Yourself



bigstock-Employee-Reference-Check-Form-

bigstock-Employee-Reference-Check-Form-The purpose of this column is to explain how to use a standard reference check as a marketing and/or recruiting opportunity for you and your recruiting firm. While some firms outsource their reference checks to third party agencies or to their clients themselves, for those who prefer to check references directly, I offer some key strategies for obtaining new clients and new candidates at the same time.

Typically, recruiters who check references have a single goal in mind — to check the reference (and hope that it is positive!). After reading this column, I recommend that you consider having two additional goals:

Business Development, Closing

If You’re Always Closing, You’re Not Selling



fordyce-default

Leads sign with salesClosing techniques are as old as the sales profession; isn’t “Always Be Closing” the A-B-C of sales?

Could this practice have anything to do with the sales profession being the least respected profession of all?

The world of sales has always revolved around the seller — in our case, this would be you, the search consultant — and your products or services, features, brand and so on. Too many salespeople still do dog-and-pony shows and apply all kinds of closing tricks from the puppy dog close to the take away close.

(Some simply open a cold call with the sure loser: “Do you have any jobs that need to be filled.” But that’s a topic for another day.)

Ask Barb, Business Development, The Business of Recruiting

Want a Big Biller? Hire A Hotel Caterer



Ask Barb

Dear Barb:

Is it me or is it getting harder to find people who will put in the hours to be good at this job? Out of the five people we hired last year, we only have two left, and they are average. They don’t seem to have the commitment or work ethic that my current employees have; they are out the door at 5:00 pm.

When I suggested they may have to conduct research or talk to candidates during evening hours, I met with resistance and was asked if I paid overtime for evening hours. You would think these people would be grateful for their job and put more effort in to achieving their goals. Is this something I need to tolerate or am I not hiring the right people?

Dave B.

Plantation, FL

Dear Dave:

Business Development

Nine Ways to Better Client Marketing



2 minute coaching logo

1.) Defuse the sales pressure.

You must defuse the pressure inherent in the sales process by acting like a consultant rather than a salesperson. If your marketing objective is to find clients for whom you can truly provide value, then your prospect will sense this, and tend to be more open to what you have to say. The key is to let them know early on you are someone who does business differently than many of the recruiters they may have dealt with in the past.

On the first phone call you could say something like this:

Business Development, Industry News

Medical Scribe: An Emerging and Booming Placement for Admins



Indeed admin jobs trend

Indeed admin jobs trendIf you place administrative staff, you know the market has been soft. After spiking up shortly after the U.S. began to emerge from the depths of the recession, job growth has been, at best, flat. As the accompanying chart from Indeed shows, the trend for administrative assistant titled jobs has been decidedly negative.

However, we’re just beginning to see an emerging market in healthcare for skilled clerical workers. The demand for medical scribes, an old, now new occupation, is growing at a furious pace.

Business Development, Webinars

Webinar: Secrets for Growing Your Business From Neil Lebovits



Neil Lebovits

trinet logoWith an always exciting and fresh perspective on the recruiting industry, well-known industry trainer and recruiting professional Neil Lebovits explores tactics and shares secrets to help you grow your business when he presents the first Fordyce Letter webinar of the year.

Spend one hour on April 22nd and you’ll discover how to calculate and maximize your gross margin dollars, learn the different ways to price contract positions, and what it takes to add temp to your perm business. The webinar is free and sponsored by TriNet.