New recruiters come into a recruitment network to expand their reach, build their revenues, and to better serve clients and candidates. But If you’ve never been in a split network, what’s the learning curve? How does it work? How long will it take to get that first split placement fee in your pocket? Where do you start?
Here’s how a recently new NPAworldwide member closed her first deal. First, she reached out to the network’s headquarters, asking if there’s anyone we suggest she connect with, as a financial services / accounting / banking industry recruiter in the greater New York City area. Staff sent her several names and phone numbers, and she reached out.
Second, she attended a new member community call that the network held. The call was hosted by a longtime member who shared his tips on how to make more splits. She also attended another network call on how to procure international business from your existing clients.
Third, she was responsive to two other NY-based members who reached out to her and who have a very similar focus on the financial service and hedge fund space. These two recruiters invited her to lunch in Manhattan, where they both work, so they could meet face-to-face and discuss their success on NPAworldwide and how they can help her optimize the power of the NPA network, according to one of the recruiters.
“I believe this was a pivotal point in defining our relationship and success going forward,” he said. “Following our in person lunch, we summarized some immediate action points and agreed to send each other some open requirements.”
One such role was a Senior Compliance Officer in the hedge fund sector based in San Francisco that he had been working on for four months and was unable to fill.
Within a week, the new NPA recruiter that he reached out to sent him a great candidate, which his client wanted to interview right away. The phone interview went well, and the candidate was invited for an in-person interview the next week with the hiring manager and two partners. They made an offer, and the candidate started last month at a $150,000 salary. With a placement fee of 20%, the two recruiters split a $30,000 commission.
So within 3 weeks of joining NPA, this new recruiter had her first deal closed. She and the other NY-based recruiter now have two additional requirements that are in varying stages of success. She said one of the things that makes the partnerships successful is that the two recruiters who reached out to her are very quick to get her feedback. Openness and transparency shows a level of trust that can reassure a new member that recruiting isn’t always a dog eat dog world.
“That’s a tribute to their professionalism and the strength of their relationships and it makes my team and I want to work on their assignments,” she said. “Anyone in this business for any length of time knows that is not always the case with partners or clients and it is appreciated and it’s the stuff long lasting relationships are made of.”
This deal not only shows the power of the network, but the power of folks who take the time to reach out to a new person and introduce themselves. Your first placement will happen, and it’s in your hands to reach out to likeminded members to facilitate the process.
More than 50% of your success is just being proactive, which I think you clearly outlined here Liz! If you want to make splits, there are tons out there waiting to happen. But they won’t come to you necessarily. A little bit of effort goes a long way, with a huge ROI.
Good point, Elsa! I think some people think that by joining a recruitment network, placements will just start coming to them. But every year we see, the people at the top making the most money are the ones we see at meetings, the ones on networking calls, and the ones who reach out to other members and make it happen. Thanks for reading!