Terry Petra
on Aug. 10, 2011
In our previous article we stated that “… exclusive relationships generally produce better results, in less time, while requiring the investment of fewer client resources than traditional methodologies.” However, this is a fact that may not be widely accepted by your prospect/clients. Therefore, in order to sell the concept of exclusivity, whether retainer or contingency, you must understand the justification for establishing such a relationship.
Terry Petra
on Jul. 13, 2011
The state of the economy notwithstanding, the opportunity to secure business on an exclusive basis may be greater today than at any time in the past ten years. Companies have no margin for error when filling mission critical positions and many of them are choosing to use fewer vendors who can produce better, more consistent results. This presents an increased opportunity to build exclusive relationships with your clients. However, in order to take advantage of this opportunity, you must be prepared to understand and properly present the benefits that accrue for clients through this type of mutually supportive relationship.
The major difference between a contingency client relationship and an exclusive client relationship may have been stated best by a client who said:
“If I understand it correctly, with a contingency relationship I’m in if it works. However, in an exclusive relationship, I’m in and it better work. Does that about sum it up?”
Yes, that about sums it up.
Terry Petra
on Mar. 22, 2011
“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.”
Chris Schoettelkotte
on Mar. 10, 2011
My name is Chris Schoettelkotte and I am the Founder and President of Manhattan Resources, an executive search firm that specializes in the energy trading, oil and gas, and petrochemical industries.
I am an executive recruiter with more than a decade working in my niche. I firmly believe that search is for those with active, not lazy, brains. This business does not require an IQ of 140 – but it does require the ability to quickly assimilate lots of data – verbal, written, and visual in nature.
I haven’t achieved all I have to this point without having an established core business foundation. These are things to which I can attribute much of the success I have seen over the last ten years and which I know will guide me through the next ten and beyond. My hope is that by sharing the following five foundational components of a recruiting business, you will have the tools to use to achieve further success in your own business as well.
Michael Gionta
on Jan. 10, 2011
A few weeks ago, some friends and I went out to dinner. and when we left we agreed: “It was OK.” Translation: we were slightly disappointed. There wasn’t anything wrong. Just nothing noteworthy or exceptional. Just little things like the fact that the table wasn’t clean when we sat down, that we had to summon the waiter several times, and we weren’t attended to as frequently as we’d like, etc. Nothing singularly mind-blowing, just a combination of mediocre events.
Since there are many other restaurants to choose from we probably won’t go back there. On the other hand there is a restaurant I frequent and take different friends to all the time. Why? The food is pretty good, but the service is exceptional. If the owner is working he makes a point to come out to all the tables, he remembers his regulars by name, and he sometimes buys us a round of drinks or gets us a dessert in appreciation. Do we get free drinks every trip? No — that’s not the point. His manner and appreciation combined with the service orientation of his wait staff enhance the dining “experience.” You feel special. You come back — again and again!
Do your clients feel special? How about your employees? Clients can choose from hundreds of recruiters to fill their needs; why should they choose you? What do you do for them that they do NOT expect? What do you do that makes them feel good about themselves? Where are you excellent?
Amybeth Hale
on Dec. 27, 2010
Lots of attention is paid to good client relationship development, but how much time do you spend working on how you are perceived by your current and potential candidates?
Yes, it is important (arguably more important) to work more on those client relationships, because the clients are the ones who pay the bills. But since candidates are your “product,” and the only “product” in existence that has opinions and typically isn’t afraid to share them, making sure you are seen in a good light by your candidates is also quite important.
Jeff Allen
on Nov. 30, 2010
This week’s inquiry comes from Maureen Knowlson:
Jeff,
I really enjoy your articles in the Fordyce Letter. I have found your column Jeff’s On Call! to be very helpful. I hope you can help.
Here’s my question(s):
I have been working with a company for over 15 years. We work a very specialized niche so there are not a lot of jobs to fill each year. We have made nineteen placements in that time. They were all completed without a hitch. The company called us, we gathered the info, we sent about three resumes, they interviewed, and hired. Normally, took about one month. Sounds great, huh?! We have also weathered the three changes of HR Managers. Mostly, because our original contact is now VP of HR. I have two issues at this time…
Pedro Silva
on Nov. 8, 2010
If you look at my resume, you will find a career path that makes no logical sense. You may ask, “How does one fit being a satellite communications tech, an intelligence analyst, a car salesman, and a third party recruiter into one career? Is he confused? Is he a job-hopper? What’s his deal? Add to the mix that I am now in the seminary to be a minister and you may really begin to think someone spiked my punch. But if you get to know me, it all begins to make sense when I tell you that in my work-life I found consistency in my love for people and my search for good work. The Tao of Work is my philosophy on the difference between work and a job. Please read it with mindfulness. And remember that it is not what we do that makes the greatest impression on the lives of others, but the purpose and meaning that we give to what we do.
In the beginning…
Amybeth Hale
on Aug. 20, 2010
When I was interviewing for my last job (prior to joining ERE), my soon-to-be boss and I started discussing compensation. At that time, the position I was interviewing for was a contract role, and thus my compensation would be at an hourly rate. I shared where I was compensation-wise in my most recent job, which was a salaried position, and we worked out where that would be hourly. My soon-to-be boss then told me something that stuck in my head – paraphrased, he said:
“I’m going to get you as close to your current compensation level as possible. I know lots of employers will low-ball a job offer and then attempt to meet you halfway, but I don’t play that game. I think it starts the new relationship off on the wrong foot to haggle the cost of hiring someone whom you know you want to work with. That being said, whatever hourly rate I come back to you with is going to be the highest amount I’m able to get approved… cool?”
Two important factors need to be considered here of course:
The amount he came back to me with was more than acceptable to me. In fact, it was a slight increase to where I had been previously. I like to believe that honesty played a huge role in the end outcome for that job, and the trust between us meant that everyone ended up happy.
Last week, Seth Godin posted an article on his blog called “The right price the first time“. The opening line of this post states:
“The way you price expensive transactions is going to train your partners and customers in how to behave.”
Amybeth Hale
on Aug. 17, 2010
Our goal is to move beyond ‘vendor’ status to become trusted advisors and consultants with our client companies. So – how do we get past scenarios like the ones outlined in this video?
How many of you have ever encountered situations like these? Clients essentially asking you to work for free, or wanting to ‘test out’ your services with a promise to pay next time, or even haggling your fee to an unacceptable low. Forming strategic relationships does require some negotiation, but this must happen on both sides of the table. Sustainable relationships involve both parties benefiting (known in nature as a symbiotic relationship), not just one (known in nature as a parasitic relationship).
How have you or your company gotten past these types of scenarios? Share your thoughts in the comments below.
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