Welcome to The Fordyce Letter:

The Fordyce Letter

Straight Talk for the Recruiting Profession


Articles tagged 'sales'

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

Motivation

The 9 Elements of Resiliency and 6 Steps to Building It



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make it happen training - free milesEditor’s note: These tips are excerpted from The TRACOM Group’s workbook, “Developing a Resilient Mindset.” 

Filter — How you filter information and interpret the world.

  • Personal Responsibility is the belief that successes or failures at work are determined by one’s own talents and motivations as opposed to external forces such as luck or good timing. Those who are high in personal responsibility believe they control their own destiny and attribute events to their own traits. Rather than relying on external factors such as luck to achieve objectives, they look inward to their own talents and motivations and attempt to exert control over situations.
Ask Barb, For Managers, The Business of Recruiting

Cut Expenses, But Change Comp Plans Cautiously



Ask Barb

Dear Barb:

My overhead continues to increase while profits have leveled off. The only solution I see is possibly restructuring the compensation and commission plan I have in place for my sales team. This represents my highest costs and in some instances payroll is where I’m losing the most money. I do have concerns about how to present this to my sales team without having a mass exodus.

Marty G., New York, NY

Dear Marty:

There are several things you can do to resolve your current situation.

Business Development

How to Tell When You Need a Sales Specialist Recruiter



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salesperson wantedRecruiting successful sales people is one of the biggest challenges facing employers today.

As the economy continues to improve, sales professionals are more in demand than ever. So working with a specialist sales recruiter is one of the most effective ways of competing for the top talent.

But don’t take our word for it. Here are six signs that you may benefit from working with a specialist agency for your next sales vacancy:

Business, For Managers, The Business of Recruiting

Are You Wasting Your Sales Team?



Leads sign with sales

Leads sign with salesAll steps of the sales process are important; from identifying prospects to closing deals. However, most businesses spend lots of time refining and managing the latter stages (closing, etc.), but put limited thought into earlier stages (lead generation). Since lead generation fuels all other sales stages, a thoughtful approach to the function can have a huge impact on a company’s ability to sell.

Who is responsible for lead generation in your agency or firm?

Industry News, Staffing

Bullhorn Finds Agency Sales Teams Are Biggest Users of Mobile



Bullhorn Mobile chart

Bullhorn Mobile chartSearch and staffing firms have been slow to adopt mobile recruiting practices that many of their corporate counterparts have been using in ever-expanding ways for several years, says new research about how independent recruiters use mobile.

Using both surveys and usage analysis of its mobile solution, Bullhorn found it’s the sales teams that consider mobile access extremely important by a margin 24% greater than do staffing recruiters. The primary use most firms make of mobile access is sending and receiving emails, and online time and expense management.

“One-hundred percent of the staffing salespeople polled who spent more than half their time outside in meetings considered mobile access important, with 86% considering it “extremely important,” reports Bullhorn in a new whitepaper, Mobile-Powered Selling for the Recruiting Industry.

Business

A Commission Plan To Reward Production and Promote Retention



percent signs

percent signsIn sales, the commission plan is everything. Think about it; if too generous the company cannot make the profits necessary to continue to function and provide employment opportunities. Too conservative and you will create ill will and lose valuable employees. Commission plans must incentivize business development and promote a sense of appreciation for a job well done.

For the last seven years I have spoken to dozens upon dozens of owners accumulating basic information about the dos and don’ts regarding commission plans. I also interviewed many search consultants who made the switch from employee to owner. And, I went outside our industry to interview other sales professionals regarding their commission plans.

Ask Barb

Helping Your Sales Team Will Help You, Too



Ask Barb

Dear Barb:

I’ve been a recruiter for three years and feel my success is limited by our sales team. They bring in orders we should not even be working, and become upset when we don’t have candidates. Some of the orders are not even in our niche. I’ve tried to talk to my owner, but unfortunately these employees have been here longer, and the answer I received from my owner was, “You’re a good recruiter, go out there and find people for these orders.”

We’ve have never filled orders with some of these clients, because they always seem to find people on their own. What can I do to get the sales people to get the orders and contracts that we can easily fill?

Frustrated in Ohio

The Business of Recruiting

A Commission Plan To Reward Production and Promote Retention



percent signs

percent signsIn sales, the commission plan is everything. Think about it; if too generous the company cannot make the profits necessary to continue to function and provide employment opportunities. Too conservative and you will create ill will and lose valuable employees. Commission plans must incentivize business development and promote a sense of appreciation for a job well done.

For the last seven years I have spoken to dozens upon dozens of owners accumulating basic information about the do’s and don’ts regarding commission plans. I also interviewed many search consultants who made the switch from employee to owner. And, I went outside our industry to interview other sales professionals regarding their commission plans.

Ask Barb

Go Global? Develop A Solid 30 Account Base First



Ask Barb

Dear Barb:

Is international recruiting something I should consider? I live in Seattle and place primarily in the Bay Area. I keep hearing about people making a killing placing in Europe, Asia and other international areas. I’m a sole proprietor and don’t have the advantage of a team to support me. Do you think this is a way to avoid getting hit when the U.S. economy takes another dive?

Justin G.

Seattle, WA

Dear Justin:

You never shared your niche or area of specialization in your question. I always advise that a client territory of 30 accounts is pretty much recession proof. This is comprised of 10 key accounts and 20 back-ups. The key accounts call you first, view you as a trusted advisor/consultant and hire multiple candidates from you throughout the year. The back-up accounts call you and others and probably view you as one of the vendors they utilize for top talent. However, they know who you are and the services you provide.