Trends are currently all in your favor. Now is the time to make important decisions to position your firm to take advantage of the following trends:
More competitive candidate driven market
Fees and margins increasing
Majority of companies will hire
Job satisfaction is still at an all-time low
Global competition for talent
Video and technology continue to impact your company
Do you have the team you need to attain your growth and production goals?
Have two contacts with each client
Every other month your company should send information to clients and prospects with a sampling of the talent you represent
Every other month your company should send information to your candidate database with a sampling list of the current opportunities you are representing
Always be interviewing for your next high achiever. Look for sales experience and a history of peak performance. Consider a bonus program for referrals from your existing sales team. Your next hire should be a referral from your current sales team.
People do things for their own reasons not yours. Employees are not motivated to work harder in order for your company to hit its goals. They must see how it benefits them to get out of their comfort zone and daily habits.
The implementation of knowledge is what truly separates average producers from Big Billers. You must provide initial and ongoing training to reflect changes in the job market. Often, your senior producers need training more than new hires. Deals slip through the cracks because shortcuts are being taken or bad habits have been developed.
The production of your sales team should increase with each passing year. If someone is stuck at the same level, they need training. They need to identify what they are currently doing that is wasting their time and replace it with a new technique that will impact their production. Your team cannot implement a new idea until they make room for it. They need to stop doing something that is not working.
Our profession is never just okay. Our employees either love it or hate it depending on what kind of month they’re having. When one of your employees hits their monthly goal on the 20th of the month, they can’t do anything wrong.
It is important, however, to remind this employee to commit to daily result-oriented activities. Often a flat month follows a record month, because your employee is so focused on closing deals that the basic daily results needed to stay consistent are not achieved.
If you manage by numbers, you can catch a slump before it happens. You can show your employees exactly what they need to do to turn this month around. Too many employees chalk up the month as a failure and stop making recruiting and marketing presentations. The greatest motivation buster is failure.
Recruiting is a performance driven occupation. It is actually discouraging if you only recognize your top producers. You need to create recognition for small achievements.
It is also nice to have monthly, quarterly or annual awards to recognize people for production, team playing, the most splits, the highest margins, the most new clients, etc. Individuals will become more motivated when they know they are recognized for their efforts.
Let’s discuss the importance of communication. We are busy communicating with clients and candidates, but it is just as important to have the lines of communication open with our employees.
You can set up whatever meeting schedule works best for your company, but it’s important to have one. A lack of communication with your greatest assets, your employees, can result in turnover and goals not being achieved.
Technology and Social Media Strategy:
You need to make critical decisions on what technology or tools you will provide for your sales team. Some sourcing tools are more appropriate for researchers or sourcers.
If you have not reviewed your ATS system in two years, does it really fill your current needs?
Have you made a list of what functions are most important to you?
Do you want to invest in technology or third party suppliers for functions such as research?
Are you currently utilizing video on your website or in your business?
Should you use offshore resources?
Is it time to upgrade your technology and systems?
Should you provide technology to enable some of your recruiters to work virtual?
Can you turn your technology into a profit center for testing?
Most recruiting firms do not have a social media strategy. They realize they should have a presence on various social media sites but soon learn it is extremely time consuming and does not necessarily result in revenue.
Implement some of the ideas shared and you will take advantage of trends that are all currently in your favor.
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