There are a lot of reasons why we believe a split fee model makes sense for recruitment firms across the globe. NPAworldwide Chair-Elect Jason Elias of Elias Recruitment in Sydney was a recent guest on The Resilient Recruiter podcast to discuss this topic. We often discuss splits as an option to even out cyclical fluctuations in cash flow, or as an economical means of business expansion. Jason sees value in split fee placements that allow him to serve his clients more effectively. Read the rest of this entry »
Recruiters, coach your clients on candidate interviews. The trends over the years have bounced back and forth from employers asking really quirky questions that had little to do with job performance to full-on behavioral interviewing with little to no time for the personal aspect of a candidate. Likely, somewhere in the middle is a good place to land. Recruitment best practices have long had a mix of job, skill, performance and personal aspects of the candidate in the mix. Help your clients add back the personal aspect without creating risk to themselves or the company. Read the rest of this entry »
The recruiting world to some is a “dog eat dog” or “every man for himself” arena. But another recruiter who works the same niche as you, or works in the same geographic area as you, should be seen as a valuable asset – someone who you can glean insight from, bounce ideas off of, and talk through obstacles with. This is one of the biggest perks of joining a split placement network, but is often overlooked as many see the main goal of joining would be to add income to your bottom line through split placements.
It’s not uncommon to have members of a split placement network who don’t actually do splits, but choose to stay in the network for the camaraderie / relationships and knowledge they get in return.
In fact, two longtime NPA members have been friends for 20 years, but have never made a split together. But their trading partnership is still valuable because they talk to each other constantly about business, ideas, and NPA.
“It could be needing an opinion, learning how they do something, or finding out about a new technology they’re using. Being able to pick up the phone and call someone, whether they’re in the next state or country… Everyone has different information they can share, and that is very valuable. Especially if you’re a solo recruiter or in a small office,” one of the recruiters said.
To this end, NPAworldwide offers its members a peer coach program. In this program, a new member is paired up with a successful member, who offers guidance/support during their on-boarding period, explains how they found success in the network, and helps answer questions (like: How do I plan to integrate NPA with my current workflow/day? or, How will my staff make use of it?).
One of the things NPA members find most valuable is attending the annual global conference, where meeting your trading partners face-to-face can solidify existing relationships, and start new relationships. In addition, they learn from speakers who are leaders in the recruitment industry, as well as from their peers during round-table discussions and breakouts. Similarly, on monthly NPA practice group calls (which are held for various practice groups and regional areas), participants will often discuss topics like industry trends and recruiting tools they find useful, or even asking for advice about candidates who ‘ghost’, or clients who have a slow hiring process.
Another tool that NPA members use to leverage the expertise of their peers is NPA’s forums, which members use to ask questions about technology and tools that people are using (from video interviewing to ATS systems to sourcing tools), or how they handle candidate visa situations, or requesting others’ contracts/fee agreements for examples), etc.
Yes, a recruiter working in the same niche or geographic area may be initially seen as a ‘competitor,’ but they don’t have to be. Working together to leverage your industry knowledge may end up in a great business relationship… and who knows, maybe even a split or two!
Best Day to Post
The number one day for hiring managers to post opportunities is Monday, so be on the lookout at the beginning of the week for new job postings. Professionals who are among the first 25 to apply to a role are 3x more likely to land the job, so being an early applicant gives you a clear advantage. Read the rest of this entry »
Now that 2019 is officially in the rear-view mirror, it’s a good time to show a split placement summary of the activity we saw in our network. We break down split placement data in lots of different ways. Today I will focus on salaries and practice areas. Read the rest of this entry »
Today’s guest blogger is Bill Benson with WilliamCharles Search Group located in Grand Rapids, MI. WilliamCharles is an executive search and professional recruiting firm specialized in finding managerial and executive talent in finance, HR, operations, sales/marketing as well as president/CEO roles. They have a concentration of clients in Michigan but they also work across the US. Bill is the chairman of the NPAworldwide Board of Directors.
Time kills deals in our business. Anything you can do to move things faster will help you win the battle against time. Read the rest of this entry »
We’ve all heard a talent shortage exists. However, what are employers reporting in regards to the first quarter of 2020 hiring? Manpower has released their projections for the first quarter that answer that question. More than 11,500 interviews were conducted with employers within the United States, including all 50 states,the top 100 Metropolitan Statistical Areas (MSAs), theDistrict of Columbia and Puerto Rico, to measure hiring intentions for the first quarter of 2020 My post today will provide an overview of the findings. I encourage you to review the survey results in more detail.
% of Employers Expecting to Add Payrolls
Employers in 22 percent of U.S. businesses surveyed expect to add to payrolls in the first quarter of 2020, with 5 percent anticipating a decrease and 72 percent expecting no change. It is definitely a job seeker’s market with these types of results.
Top 5 Industry Sector Results
While Employers in all 13 U.S sectors expected to grow payrolls during the first quarter, these 5 industries had the largest increase expected:
- Leisure & Hospitality (+30%)
- Construction (+22%)
- Professional & Business Services (+22%)
- Wholesale& Retail Trade (+22%)
- Transportation & Utilities (+19%)
The Midwest Outlook takes the lead by matching the strongest reported since 2001, with 23% of of employers expecting workforce gains. Regionally after that was:
- South (21% net employment outlook)
- West (17% net employment outlook)
- Northeast (15% net employment outlook)
Manpower also surveyed a total of 58,000 employers across 43 countries to report on a global outlook and employers in 42 of 43 countries and territories surveyed expect to grow payrolls. The strongest labor markets are anticipated in Greece, Japan, Taiwan, the U.S. and Romania, while the weakest hiring activity is expected in Panama, Argentina, Costa Rica, Italy and Spain.
What impact does this have on independent recruiters? While many exist, I suggest the following:
- As an independent recruiter, bump up your business development efforts to retain new clients affected by talent shortage.
- Employers unwilling to work with recruiters during the past four years may be more willing now to seek the professional assistance of an independent recruiter with such a tough candidate market, new techniques need to be employed to uncover passive talent.
- If you are focused on one niche only, consider changing your niche or adding to your current niche, especially in areas where the market is not as tight.
- Develop a recruiter networking group of trusted trading partners around the world to assist you with filling difficult jobs and placing candidates who can’t find a job locally.
Our Global Conference is just 8 weeks away, and I’m neck-deep in the details that lead to a successful event. NPAworldwide’s member-owners elect officers and directors and make decisions about network policies and future plans during the annual meeting portion of the conference.. Member-ownership is perhaps THE thing that makes NPAworldwide different from other split placement organizations. I love this time of year when owners come together to share ideas and debate a wide variety of topics. I’m always impressed and excited by the passionate enthusiasm that members display.
What exactly does member-ownership mean? Well, in it’s simplest terms, the entire network is owned by its members. Each firm becomes an equal co-owner upon joining. We are governed by a board of directors elected from the membership. Members have control over the rules, which are established via a democratic process. Members pool their resources and work cooperatively to reach common goals. Profits can be reinvested in the network or shared among the owners. There is not a private individual or corporate structure that benefits from the profits of the network. Because each member firm is an equal owner of the network, a small recruitment firm can have just as much influence as a larger business.
NPAworldwide members determine the rules that define split placements, membership qualifications, financial responsibilities, dispute resolution and more. Our bylaws were modernized and rewritten in 2012 (not for the first time) and have been amended almost every year since then. As recruitment changes and evolves, our governing documents strive to keep up with that change. Member-ownership means that members can help shape the way they want to work with other members in the network. Members are accountable to each other to ensure the rules are followed. This helps foster a high degree of trust among partners and an increase in split deals.
The ownership of a split placement organization is an important detail. Learn more about different ownership structures here.
Today is the last post for the Independent Recruiter Blog for 2019 – we’ll be back on Tuesday, January 7th. As you wind down for the holidays, here are some of our top recruiting blog posts from the year so you can catch up on any you’ve missed.
Replace No with Yes, But … In recruitment it is not always easy to get what you want or even what is needed to deliver top talent. Sometimes you just need to walk away and say NO to something that is headed the wrong way. Before sealing the deal’s fate with a NO, why not try what some refer to as the evil twin of YES, AND…try a YES, BUT.
Three Reasons Why You’re Not Getting Interviews: How to Create an ATS-Friendly Resume … While software automation has simplified the recruitment process for recruiters, staffing specialists, human resources professionals and employers, it has made the hiring process much more challenging for job seekers, applicants and candidates. Nowadays, Application Tracking Systems (ATS) are becoming continuously more sophisticated each day, and as a consequence, a resume won’t get selected to move forward and be reviewed by a human unless it satisfies a custom-programed, specific set of keywords and criteria for a particular position.
The Number 1 Thing to Do in an Interview … What’s the number one thing to do in an interview? It’s so simple and effective! We talk about doing sufficient research about the company, preparing for an interview with answers for the most likely questions and of course being ready with your questions. However, none of this is going to work if you don’t do one thing. Smile!
What Happens if You Receive a Counteroffer? … Changing jobs can be a huge source of stress, even when you *know* it’s the right decision. It’s common to feel sad or anxious, or even a little bit guilty even if you are excited about the new opportunity. On top of all those emotions, you have to actually resign – you know, tell your boss you’re leaving. And that’s when they hit you with the counteroffer. Maybe you didn’t see it coming, or maybe you should have, but either way it’s on the table and now you have to deal with it.
Is the Cover Letter Dead? … On our recruitment network forum, one recruiter asked recently asked: “Do you read the Resume or Cover Letter first?”
Are there particular topics you’d like to see us discuss in this recruiting blog? Drop a note in the comments below! In the meantime, we wish all of you a very safe and happy holiday season and a prosperous New Year.