Aug 22, 2022
If you’re like many recruiters we speak to, you’re extremely busy right now with more job orders than you can handle. However, are you working with the right clients?
Many recruiters delude themselves by thinking they’re “too busy” to do business development when in reality they’re working on low-probability searches. So they end up doing a lot of work you don’t get paid for.
Another common scenario is recruiters who rely on repeat business from the same legacy clients. Sure you’ve got a good relationship, but have you gotten into a comfort zone with them?
When was the last time you reviewed your terms of business with your existing clients? Or asked them for a retainer? Perhaps you’re reluctant to rock the boat because you get a lot of business from them.
If you can identify with either of these scenarios, pay close attention. In this episode, Leanne and I will share tips on how to increase your billings by working with your ideal clients - the ones who are willing to work with you exclusively at higher fees, and who treat you as a trusted advisor and true partners.
This is the second of a series of episodes where Leanne and I will share insights that we have gained from working with hundreds of successful recruitment business owners.
Episode Outline and Highlights
- [3:00] Increase your billings by auditing your existing clients.
- [4:12] Indicators that you are working with the right clients.
- [5:27] The benefits of grading your jobs using a Job Order Scorecard.
- [8:11] Common limiting beliefs that stop recruiters from reviewing their terms of business with existing clients.
- [10:52] Actual examples and success stories of recruiters who raised their standards in terms of how they work with new and existing clients.
- [12:07] Won’t you lose clients if you increase your rates?
- [13:07] Three simple actions you can take to re-evaluate your client relationship.
Audit Your Existing Client with the Job Order Scorecard
When was the last time you audited your clients and measured the quality of jobs you are working on to make sure you are investing your time wisely? One of the first exercises we do with our new clients is to get them to do an audit on their existing clients and actually grade their jobs. Failing to do so can mean that you end up working with the wrong clients in ways that are not effective or efficient.
A useful exercise is to look at your job-to-placement ratio. In this call, you will hear a scientific approach to using a diagnostic tool we call the Job Order Scorecard. This tool was designed to audit your existing live job - looking at measurable factors and criteria to work from when starting new partnerships or when analyzing your current clients.
Some of the factors being looked at are:
- How fillable is the job?
- How accessible is the hiring manager?
- Is the role actually within your niche?
- How good is the rate?
- How solid are the agreement and the terms?
If you want to steal our Job Order Scorecard you can download it here: http://www.recruitmentcoach.com/scorecard
Challenge Your Self-Limiting Beliefs
The idea of grading your jobs can lead to better outcomes for both you and your client. However, the fear of change and some limiting beliefs may stop us from taking the leap of faith to switching from contingent to the retained model, for example. Another thing we hear a lot is “In my market, it is very price sensitive, there is no way our clients will pay a higher fee.” If you hear yourself saying this, it may be a sign that there are underlying limiting beliefs that we may need to challenge.
We want you to go out of your comfort zone and look at it from a different perspective. The success stories of our coaching group members should nudge you to overcome the fear of asking for higher fees and more commitment.
Three Simple Actions You Can Take Now
If there are key takeaways from this episode, it is taking action now and doing the simple steps below:
- Go to http://www.recruitmentcoach.com/scorecard and download the scorecard.
- Do the exercise and audit - give a score to each of the roles you are working on so you can measure them up against one another.
- Re-prioritize your time and energy based on that score.
Our Sponsors
This podcast is proudly sponsored by i-intro and Recruitment Entrepreneur.
i-intro® is an end-to-end retained recruitment platform. Their technology and methodology allow recruiters to differentiate themselves from the competition, win more retained business, bigger fees, and increase their billings. Their software combined with world-class training enables you to transition from transactional, contingency recruiter to consultative, retained recruiter. Instead of being perceived as a “me too” vendor, you’ll be positioned as a “me only” solutions provider. Be sure to mention Mark Whitby or The Resilient Recruiter. Book your free, no-obligation consultation here: www.recruitmentcoach.com/retained
Recruitment Entrepreneur is the world’s leading Private Equity firm specializing in the international recruitment industry. If you’ve dreamed of starting, scaling, and selling your recruitment business, this is your chance. James Caan and his team at Recruitment Entrepreneur are actively seeking ambitious recruiters in who they can invest. They provide everything you need to grow a successful recruitment business including funding, financial expertise, coaching and mentoring, operational strategy, back office support, marketing, and talent attraction solutions. Be sure to mention Mark Whitby or The Resilient Recruiter. Start a conversation here: https://www.recruitmentcoach.com/vc
People and Resources Mentioned
- Download the Job Order Scorecard here
Connect with Mark Whitby
- Get your FREE 30-minute strategy call
- Mark on LinkedIn
- Mark on Twitter: @MarkWhitby
- Mark on Facebook
- Mark on Instagram: @RecruitmentCoach
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