The steps that completely gets rid of them and increases your worth in the eyes of your clients!
They are the enemies of every recruiter: turndowns and falloffs. And they’re on the rise everywhere. I hear about them so frequently from other recruiters that I think it’s time to take a serious look at these dreaded deal breakers and get rid of them once and for all.
Ugh.. Your top candidate accepts a counter offer, or that sure thing turns out to be anything but when your candidate suddenly says yes to another position – not yours. We’re often left scratching our heads asking… “How could this happen?” The turndown and the falloff are the dirty words any recruiter or recruiting manager would like to live without. Get rid of them and your billings soar along with your worth in the eyes of your client.
Why are they happening so often now? It’s basic supply and demand. Love Trump or hate him, the basic facts are the unemployment rate is lowering month after month. There is 0% unemployment for the in demand “A” players and the economy is picking up steam. The demand for talent has increased substantially over the last 12 months. And they know it. Top talent can afford to be picky about who they decide to join next. Adding to the mix is the growing commitment employers have to protecting and retaining their best employees. Hiring managers know how difficult (and expensive) it is to find and train replacements for top performers, so they’re willing to do whatever it takes to keep them. It’s a tough market for recruiters, and it’s getting harder and harder to shake loose firmly embedded talent from their comfortable positions. We make it harder on ourselves, too.
“Most turndowns and falloffs happen thanks to our own professional carelessness.”
Let’s face it: recruiters aren’t perfect. No matter how professional or experienced we are, we sometimes miss critical steps in the process. Things fall through the cracks. And when we take shortcuts in the placement process—simple mistakes like failing to cover the counter offer early and often, or not following up after a placement is made, increases the likelihood of a turndown or fall off dramatically.
My firm recently placed a “A” player at a Sensor manufacturer. We thought it was the deal of a lifetime for the candidate. He was recruited from a competitor who just asked all employees to take an unpaid two week vacation. He got a signing bonus alone that matched his previous year’s W-2. When the offer was made, we celebrated. Rang the bell and gave high fives all the way around. A perfect deal. The candidate would make a ton of money, we would receive a handsome fee, and the new organization was thrilled with the candidate. But the party was short lived. When the candidate submitted his resignation, his employer counteroffered and matched the signing bonus plus added a few incentives of stock options. The candidate who was offered so much is still working for his same horribly managed firm today.
Part two with details on how to prevent this coming next month in March EMinfo….