Welcome to The Fordyce Letter:

The Fordyce Letter

Straight Talk for the Recruiting Profession


Articles tagged 'businessdevelopment'

For Managers, Motivation

Good Leaders Are Made, Not Born



Demanding Boss

TeamLeadWhy won’t my employees just do what I tell them?

Why am I struggling to motivate my team?

Why aren’t they giving me the performance I need?

If any of these questions sound familiar to you, you’re not alone.

You were probably promoted because you’re a competent technical professional. You know how to build a bridge, negotiate a deal, or justify a capital expenditure. But whether you’re a team leader or a branch manager, your technical skills usually won’t help you be a better leader.

Effective leadership has an undeniable business value. In one study, Jack Zenger and colleagues (“How Extraordinary Leaders Double Profits”) examined the best (top 10%) and worst (bottom 10%) leaders at a large commercial bank. On average, the worst leaders’ departments experienced net losses of $1.2 million, while the best leaders boasted profits of $4.5 million.

Ask Barb

Add Temp to Improve Your ROI



Ask Barb

Dear Barb:

I place engineers only in permanent positions and everyone keeps telling me I should get into the temporary business. I’d love your input.

Pamela M.

San Juan, Puerto Rico

Staffing

Where to Find Contracting Job Orders



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One of the first questions recruiters have when they consider adding contract staffing to their business model is, “Which companies should I target?”

The first and easiest answer to this question is to target your existing client base. Gone are the days when contract staffing was limited mainly to the information technology sector (although that is still a hugely popular area for contract placements). Contractors are now utilized by nearly every industry for positions up to and including C-suite executives. Chances are at least some of your clients have utilized contractors or are considering using them.

Business Development, How-To, Social Media

Three Steps to Becoming an Industry Expert and Growing Your Business



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You may be the best recruiter or trainer in the world, but if nobody knows who you are does it matter? This isn’t an exercise in Zen thinking. It’s a real world concern if you’re not a name in your field and want new clients.

Like it or not, people congregate around popular businesses. If you want to grow your small business, you need to create that popularity. Becoming a recognized industry expert is easy if you follow these steps.

Dig Into Your Industry

What is important in your industry today? If you’ve had your nose to the grindstone

Ask Barb, Business Development

The Future (And Yours) Is In STEM



Ask Barb

Dear Barb:

I’ve been placing office support for over 20 years. My margins and fees are lower than they were five years ago and I’ve seen my niche reduce over the past five years. Law firms used to have one legal secretary for every two attorneys, and now they support five or six attorneys. I feel like I should open a new niche, but all my contacts, database and expertise is in office support. Can you suggest a niche that will grow over the next 10 years?

Marsha W.

New York, NY

Barb Responds

Dear Marsha:

I spoke at an employment conference that was attended by some of the top Fortune 500 companies from across the globe. Job growth was obviously a hot topic and most experts and economists were in agreement that 75% of job growth by the year 2015

Business Development, Staffing

Why Candidates Work on Contract



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One of the reasons recruiters shy away from contract job orders is they are afraid they won’t be able to find candidates. This fear is based on the outdated perception that candidates only take contract positions as a last resort when they can’t find a suitable full-time job.

But it is no longer unusual for candidates to choose contract assignments over traditional direct hire jobs. In fact, a recent survey found that 28 million Americans are considering independent/contract work, and 63% of those already working independently would continue to do so.

Contract staffing provides many benefits that make it an attractive alternative to traditional, full-time employment:

Ask Barb, Business Development

How Many Clients Do I Really Need?



Ask Barb

Dear Barb:

How many clients do you think a recruiter needs to become a big biller? I have three clients who keep me very busy and therefore I don’t do any client development. If I land another big client, I would not be able to fill the orders written.

Beatrice P.

El Paso, TX

Dear Beatrice:

The majority of recruiters have five clients or less who represent at least 75% of their sales; this is not recession proof. If one or two clients stop hiring and you only have a handful of clients, you would need to scramble to land additional clients.

Business Development, Cold Calling, For Managers

“How do I win your business?” Not By Doing What Everyone Else Does



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Note: Matt Lowney will be speaking at the upcoming Fordyce Forum 2013. His session So You Want to Sell to Me? Here’s How to Do It will offer firm owners and leaders a look at what it takes to get a client’s business and how best to connect with new clients in today’s highly competitive world. Register now at Fordyce Forum 2013.

“How do I win your business?” It seems like a simple enough request, but ultimately it’s a process that most recruiting agencies do not handle well.

In June I will be speaking on this very topic at the Fordyce Forum in Dallas – winning and keeping business from the perspective of the client. As someone who has utilized every variation of third party recruiter, I know they can add tremendous value, but there are three key areas that agencies should focus on improving to make the vendor-client relationship less tenuous. Let me be clear, this is not a beat-up-the-vendor topic. I want to focus on raising the bar across the board for all recruiting professionals.

For Managers, The Business of Recruiting

Here’s Why the World Needs Recruiters



Adrian Kinnersley

Recruitment can mean different things to different people. There is a plethora of different business models within the staffing industry, so I thought it might be a good idea to define what I believe good recruitment is. This will perhaps put into context why I don’t believe that  LinkedIn — or for that matter any other web-based product — can ever replace the service we provide.

Talent Is Not an Online Commodity

Getting the best possible talent to join your company is not the same as purchasing a product online. Talent has opinions, options, and time constraints. Talent can be unpredictable, irrational, high maintenance, and uncommunicative. A product you buy online will always show up if you have paid the appropriate price and followed the correct purchasing process. A product won’t have any thoughts or feelings that it wants to discuss with a third party. It won’t have any opinions on how well you selected it. It won’t wait for a better company to buy it if it doesn’t like your communication style or your company values. A product won’t consult with family members, professional acquaintances, and even someone it met on the train to provide fresh objections about why they aren’t going to show up at your company.

Ask Barb, Business Development, Motivation

Send Out Rock Stars. Reignite Your Passion and See Production Grow



Ask Barb

Dear Barb:

I have been producing in excess of $300,000 for the past six years. I just can’t seem to increase my production; this year, I’m on track to produce only $270,000. How can I turn this around? My clients are just dragging their feet on every candidate I submit, and candidates are so much pickier than they were just a few months ago.

Frances P., Akron, OH

Dear Frances:

Over the years, I’ve seen this happen to many experienced recruiters. This could be the result of many things including the following:

  • Not upgrading your client base so you are representing the best companies in your niche or area of specialization;
  • Not identifying new sources for top talent;
  • Not having a strong referral program for both candidates and clients;
  • Your attitude.

Clients don’t drag their feet when you present rock stars. Review the quality of person you are presenting. I’ve also found that candidates don’t drag their feet when you present opportunities that address their hot buttons. You need to step back and see what you can do differently versus looking for excuses why your production has decreased.

Motivate yourself by setting goals for yourself and the people you love that can only be attained if you dramatically increase your production. Track your stats and ratios, and focus on increasing the number of send-outs you book (first interview between a candidate and a hiring authority). Obtain interview times, a target date to fill, and understand the problems occurring as a result of each job order you write. Turn off your automatic pilot, determine the 20% that provides you with 80% of your results, and do more of those actions. Reignite the passion you once had for this profession and you will be pleased with your results.

Barbara J. Bruno, CPC, CTS