Welcome to The Fordyce Letter:

The Fordyce Letter

Straight Talk for the Recruiting Profession


Articles tagged 'management'

For Managers, Motivation

With A Performance Contract They Fire Themselves



Results-free

Results-freeFor managers, there is one thing worse than hiring the wrong person and that is to keep that individual employed with their agency long after the collective experience dictates they should be terminated. Yet, in almost every case, managers will admit they have difficulty with making termination decisions.

From my many years of experience in working with managers in hundreds of staffing firms on both a national and international basis, I have concluded that the primary reasons for this apparent lack of decisive action include one or more of the following:

Ask Barb, The Business of Recruiting

How Long Do I Wait For First Production?



Ask Barb

Dear Barb:

How long do you give a new recruiter, before you realize you may have made a bad hiring decision? My new recruiter has had no production going on five months, but he seems to be close to closing his first deal. I hate to lose the money I’ve invested so far in his compensation and training. How much longer should I ride this out?

Barry N.
Fort Lauderdale, FL
Ask Barb, For Managers

Managers Must Teach Fishing



Ask Barb

Dear Barb:

I’m managing a team of five recruiters, but I’m still responsible for my own production. Most of my day is spent answering questions, making matches and hand-holding my recruiters. I can’t stop helping them because without my help we would not hit goals.

My owner only cares that goals are reached, but I don’t know how much longer I can carry the office or work the hours I’m working. I like the override I’m getting paid, but I could actually make more money if I only focused on my production.

Should I walk away from being a manager?

Joe D.
Topeka, KS
Business, For Managers, Viewpoint

Don’t Just Promote Your Top Biller



headphone recruiter-free-stockimages

OK, it’s time to promote. Naturally any company’s preference would be and usually is to promote from within. However, when it comes to the world of recruiting, all bets are off the table.

Recruiting is an animal unique unto itself. It is sales, business development, and sourcing all in one. No other sales-related job has such a unique structure, and requires so many different segments of the sales process to come together in order to be successful. I’ve worked with many recruiters and salespeople over the years, and have seen some great recruiters go on to become great managers and leaders in the industry. Yet at the same time, I’ve also seen some great recruiters who can’t manage their way out of a paper bag.

Business

Here’s How to Tell If Hiring Makes Financial Sense



Hiring - freedigital

Hiring - freedigitalFor a moment let’s ignore all the human and emotional aspects of hiring employees and take a close look at the numbers. In other words, why does it make financial sense to hire when: it is so difficult to train; hiring creates a huge distraction to personal production, and; knowing most of those we hire will fail?

For this article I am going to utilize my internal ratios that I have tracked over the last eight years and more than $8 million in gross revenue. To be clear, these ratios include the time as a rookie office when I opened with three green recruiters. And obviously my numbers have been significantly influenced by the great recession. I am confident that my ratios will naturally improve as I accumulate more experience in this industry and time during strong markets.

Ask Barb

Go After the High Margin Business



Ask Barb

Dear Barb,

We are a light industrial staffing firm and have been in business for 10 years. Two years ago, I heard you suggest that we consider business that is high margin. I didn’t take your advice and now our margins are decreasing and I don’t even know what the Affordable Care Act  is going to do to us.

Can you define what you meant by high margin business? I don’t know that I will be in business next year at this time, if our margins continue going south. Some of the big guys in our business are the ones who are responsible for driving rates down.

Tom F.
Cleveland, OH
Ask Barb

8 Suggestions for Retaining Your Recruiters



Ask Barb

Dear Barb,

How do I compete against the companies that offer my recruiters the ability to work from home, much higher commissions and provide them with an ATS, back office and support?

Sarah R.
Los Angeles, CA

Dear Sarah,

This is no different than your recruiters going to work for one of your competitors, except for the ability to work from home. Many recruiters

Ask Barb

The ‘Go To Gal’ Who Doesn’t Want to Be



Ask Barb

Dear Barb:

In the past 15 years, I’ve opened new offices and even new divisions for my company. My owner just informed me that this year, he wants me to start up an entirely new niche in a different state.  I know I’m one of the few women who is single and not tied to the area, but I don’t want to start over again. Do I approach my owner or do I just leave?

One of my clients has been offering me a job for the past year and I know some of our competitors would love to hire me. Why does my owner think he can constantly do this to me?

For Managers

7 Easy Ways To Measure Employee Performance



Worker review-free

Worker review-freeProductive employees are the lifeblood of every recruiting business, but how do you assess their performance levels? Do they understand your goals and expectations? Are they meeting their personal objectives?

Every company should continually monitor and evaluate their employees; here are seven easy ways to quickly gauge performance and ensure your firm is on the right track:

For Managers, The Business of Recruiting

When You Set Standards and Manage to Them, Everyone Knows Where They Stand



hiring right 4

Note: This is the fourth article in a series on decreasing turnover and increasing profits. In the previous three articles Terry discussed turnover  (High Turnover Is NOT Just Part of the Business), who to hire (What It Takes to Attract and Hire Recruiting Winners), and setting expectations and training (Your Onboarding Should Not Be Like A Box of Chocolates). 

_______________

Fast-Paced! Volatile! High Risk! High Return! Competitive! Sophisticated! Pressurized! Stressful! Demanding! Exhilarating!

These are some of the terms used by managers to describe our business. However, as with most adjectives, these terms are subjective and can mean different things to different people. That is where performance standards come into the picture.