Independent recruiters have a lot of choices when it comes to finding recruiting partners to help them make more placements. There are job boards, informal networks, social media networks, and recruitment associations, to name a few. There are also split placement networks. A split placement network is a smart decision for many independent recruiters. But how do you know which one is right for your recruitment business? Here are four major criteria to consider when evaluating a split placement network:
- Geographic Reach. What are your current and future geographic needs? Do you source local candidates to fill local positions? Is that a sustainable business model for the next 5-10 years? Do your clients operate globally? Are you interested in global recruitment? If you are a global-minded recruiter, with an international business focus, you’ll want to seek out a split placement network that supports those needs.
- Industries, Niches, and Occupations. There are many different ‘flavors’ of split placement networks. Do you recruit in a specific niche? Do you work an entire industry, or only a certain occupation? A good split placement network can help you make more placements in your existing space as well as help you broaden the scope of your recruitment activities.
- Ownership. Who owns the split placement network? This is an important question for a couple of reasons. First, if the network is owned by an individual, the profit motive is typically for that individual. In other words, the person who owns the network makes decisions that will maximize his or her personal profits. Second, if you’re joining a split placement network that has a single owner, will you have a ‘voice’ in any decision-making? Do you care? If you have a passion for leadership or a desire to ‘give back’ to your profession, will you have any opportunities to do so?
- Policies & Procedures. How are disputes handled? Are there specific rules in place for how split placements are handled? What happens if another member interferes with your client relationship? Even more important, will you be protected if you don’t get paid your portion of a fee?
There are no right or wrong answers to these questions. They are strategic questions, and differ widely for different recruiting firms. Look for a split placement network that is a good fit for your current needs, and can also help you grow your business. Click the button below for a free checklist to help you evaluate split placement networks.