If you have not previously engaged in split placements, it may be hard to determine if that would be a good option for your recruitment firm. Here are some questions that can help you decide if splits are right for you:
Do you have more jobs than you can fill on your own, and not enough candidates? Split placements can provide a source of candidates, especially for jobs that are outside of your normal specialty.
Do you have great candidates, and not enough jobs that match? Partnering with another recruiter can be a good way to place those candidates.
Are you weak at sourcing or business development? I believe playing to one’s strengths is often a smarter option than trying to shore up one’s weaknesses. If you’re good at business development and enjoy that, find a partner who can work that side of the deal. Conversely, if you’re passionate about connecting with candidates, let someone else develop the job orders.
Do you enjoy working with others in a collaborative manner? While there are many ways to be successful at split placements, it certainly helps if you view it as a cooperative arrangement.
Would you like to grow your business, but are unsure about increasing your overhead costs? Splits offer an affordable way to expand. Instead of adding employee headcount and the fixed costs that go with that, you simply pay your partners as you go. No splits, no (or low) expenses.
Would you like to expand into a new niche or territory? A recruiter with good connections is invaluable to clients and candidates alike. Working on a split-fee basis means you can help your clients with their most important roles in any industry, niche, or geography.
Are your communication skills above-average? Poor communication is probably the leading cause of problems in split placements. You will need to communicate early and often, in writing, to ensure expectations are being met. This includes communication with the client and the candidate as well as the recruitment partner.
Do you have a high degree of trust? Split placements require a high level of trust and sometimes a leap of faith. It may require you to move outside of your comfort zone. Get everything in writing and then trust that your partner wants the same outcome as you.
If you can answer yes to at least 5 of these questions, explore split placements. There are a host of benefits to your business including better service to your clients and candidates. If you’re not doing splits, why not? Let’s discuss!