Split fee recruiting can be an excellent way to smooth out the bumps along the journey, especially for small firms. All small businesses can struggle with cash flow and recruitment is certainly no different. In a jittery market like we’re seeing now – with a slowdown in hiring, a hoped-for cut in interest rates, and an upcoming presidential election – small recruitment firms find themselves at the whim of “wait and see” hiring plans. Those who are actively engaged in splits are less likely to feel the impacts. Here are a few reasons why: Read the rest of this entry »
Split Placements
Split Fee Recruiting as a Business Strategy
by Veronica BlattPitfalls of Three-Way Placements
by Veronica Blatt
In NPAworldwide, we define split placements as a single placement involving two recruiters from two different recruitment firms. One represents the employer with the open position and the other represents the candidate. Three-way placements occur when a third entity, typically another recruiter from another firm, gets involved. We normally see this manifest when the third recruiter (who does not represent the client OR the candidate) introduces the other two parties and receives compensation for making the introduction, or when there is one recruiter with a job opening and two recruiters representing the same candidate. We discourage three-way placements for a number of reasons, including: Read the rest of this entry »
Effective Communication for Split Placement Success
by Veronica Blatt
Recruiters who experience consistent split placement success are effective communicators. They make it a priority to set expectations with their recruitment partner and document the details. If you’d like to incorporate splits, here are some of the topics you need to communicate, preferably before submitting any candidates for consideration: Read the rest of this entry »
NPAworldwide Membership Questions: Making Splits in a Low-Volume Niche
by Veronica Blatt
We’re continuing to answer some of the most common NPAworldwide membership questions. Today’s question is, “There aren’t a lot of posted jobs or candidates in my niche. Am I going to be able to make any splits?”
The short answer to this question is yes, you’ll be able to make splits. Here are a few things to consider:
Not Everyone Posts Everything
Some members only post jobs. Other only post candidates. Others post infrequently. Members who are working on a retained search might not post at all, because they don’t want multiple recruiters trying to source candidates. Some members only share jobs directly with pre-vetted trading partners. The point is, everyone works a little differently. The trick is to find a handful of partners whose work style meshes with your own. Because most NPAworldwide members are very relationship-focused, you’ll need to spend time building relationships as opposed to looking for transactions. The relationships are what leads to the splits. Read the rest of this entry »
The Benefits and Responsibilities in Joining a Split-Fee Recruitment Network
by Veronica Blatt
Today’s guest blogger is Jim Lyons, JD, CPC of LHI Executive Search in the New York City area. LHI is an investigative executive search & research outsourcing firm covering the information technology, capital markets, private equity/venture capital, digital & social media, mobile, cloud, big data, and legal business sectors. Jim has been an NPAworldwide member since 2012 and is currently serving as the chairman of the Board of Directors. Below he discusses his experience as a member of a split-fee recruitment network.
As a successful sole operator of an executive and legal search firm, as well as the Board Chair & CEO of an almost 70-year-old global split-fee recruitment network (www.npaworldwide.com), I can speak directly about the benefits and responsibilities of joining such an organization. Read the rest of this entry »
Why Recruiters Should Consider Split Placements
by Liz Carey
Recruiting is a competitive field that requires recruiters to be strategic, innovative, and adaptable. One of the strategies that has gained popularity over the years is the concept of split placements, where two recruiters collaborate to fill a position and share the commission. Recruiters in the NPAworldwide recruitment network understand the concept that half a fee is better than no fee at all. But besides adding to your bottom line, there are several reasons why recruiters should consider doing split placements. Read the rest of this entry »
NPAworldwide Membership Questions: Speaking to Clients
by Veronica BlattIn this installment of our series on NPAworldwide membership questions, I’d like to address another common question (which is actually two separate, but related questions):
When do I find out the client name / when do I speak to the client?
NPAworldwide is a split placement network of independent recruitment firms. One firm is the job recruiter that has the client relationship and is marketing the open role. The other firm is the candidate recruiter, representing the candidate who is being considered for the role. The client relationship belongs squarely with the job recruiter. With rare exceptions, it is not appropriate for a candidate recruiter to contact their partner’s client. This includes: Read the rest of this entry »
Why Your Recruitment Company Needs to Join NPAworldwide
by Veronica Blatt
Today’s guest blogger is Tim Lane founder and director of Park Lane Recruitment based near Manchester UK. Park Lane Recruitment is a specialist recruiting firm in the technology space with niche areas of cybersecurity, fintech, space and defense IT, as well as generic IT sales, tech and managerial. Tim is also an NPAworldwide Board Director with responsibility for the EMEA region and a 30+ year veteran of the recruiting industry. Today he shares his thoughts on why a recruitment firm should join NPAworldwide.
Whatever size and scope your recruitment company is, there is tremendous value to be found in joining a recruitment network such as NPAworldwide. Not only can you gain insight into trends and new technologies, but you can also become part of a larger collaborative network with access to resources and support – as well as a ready supply of roles to work and candidates to place. In this blog, I outline the many reasons why it would benefit your recruitment company to join NPAworldwide. Read the rest of this entry »
A Split Placement Network Recipe For Success
by Liz Carey
New recruiters come into a split placement network to expand their reach, build their revenues, and to better serve clients and candidates. Just like joining anything, it can be hard to be the “newbie” and break in to a split placement network. Where do you start? How does it work? How long will it take to get that first split placement fee in your pocket? Read the rest of this entry »
Building Recruiting Relationships
by Liz Carey
When you join a recruitment network or decide to work split placements, one of the things that recruiters find hard to wrap their head around is giving away their “insider” information, such as the name of their client. Some recruiters hold this info close to their vest, in fear of their trading partner trying to go around them and contact the client directly.
But when you join a recruiting network built on trust, comprised of vetted recruiters, and backed by member-owners who all adhere to the same rules, you will find that its most successful members are ones who are completely open and transparent, because they realize the value of open and honest communication. Read the rest of this entry »