Many times over the past few years I have been asked “what is the secret
to building a great permanent desk?”. In this article I will share with you
some of the things I have learned about running a high revenue perm desk from
both my own personal experience as well as from those that I have met during
the past five years running The Recruitment Training Company. In a future issue
I will share the secrets behind running a high revenue temporary desk.
1.
Big perm billers measure
their statistics. The old adage of you can’t fix what you can’t measure stands true. My
belief is and always has been that key performance indicators are in place to
help me be successful. If you don’t complete KPI reports for your manager, then
create your own. You should be tracking the following:
·
Dials: Connects. If you are getting a low
success rate here you probably need to address your skills at getting past the
gatekeeper or revisit your prospect list to ascertain if the account is really
worth your time chasing.
·
Connect: Visits. If you are getting
through to the decision maker but not getting a visit, then you need to review
your call structure, how you overcome objections and how you close.
·
Visits. If you are getting
quality visits but not converting them to opportunities then you need to look
at your visit structure and also review how you close – do you ask for the
business?
·
Jobs on: placements. How many jobs are you
managing at any one time – could you use your time more effectively? What is
the point of listing 30 perm contingent roles if you are only filling 6 or 7?
Big Billers only list roles that they know they can fill quickly.
Ever had a month when you
have felt that you have worked really hard, but it’s not reflected in your
placements? It’s probably because part of the process has fallen down. By
measuring your statistics, you will know exactly where your time is going, and
if you are getting the result that you should based on where you are spending
your time. Measure yourself against yourself, not someone else as the latter
will cause you much stress.
I recently had the pleasure of spending a day with a
high billing consultant who had hit a brick wall. She couldn’t work out why she
was working so hard for less. She was working contingently, but had 5 “gold”
clients who always called her first. She has contacts throughout the market
that she works within and had jobs listed from many first time users. Her
reputation was such that it had been fairly easy to get candidates and she
filled jobs very quickly as she understood her market and her client needs.
This had all changed when the candidate flow dried up. I felt that she should
move two of her gold contingent clients to retained clients and then decide who
she didn’t want to work with and headhunt from them to fill the retained roles.
She didn’t feel comfortable doing this because she felt that her clients would
not use her exclusively as they had been successfully getting quality
candidates by working contingently. We then looked at identifying where she
could headhunt from. The outcome of the day was that she learned some proven
headhunting techniques and had also identified how she can increase her
billings whilst not moving too far outside her comfort zone. She now spends 20%
of her day making headhunting calls to quality candidates that she knows she
can place.
2.
Big perm billers work on
more retained than contingent roles. If you read my last
article, you will know that I am an advocate of working retained in the current
market. If you would like to read click here
3.
Big perm billers are expert
time managers. Understanding the opportunity cost theory is essential to being a big
perm biller. If you are undertaking an activity, it is at the cost of
undertaking something else because you can’t do two things at the same time.
So, if you are spending your time canvassing for new business, it’s at the cost
of interviewing, taking reference checks etc. Therefore, big billers make sure
they get a result from everything they do. Focus on the urgent and important
tasks first, then the important/non urgent and so on. Read Stephen Covey’s
Seven Habits of Highly Successful People, for more information on the four
quadrant model.
4.
Big Perm billers believe
their own story! Having a strong self belief is essential to being successful. If you
don’t believe your own story with all your heart, then it will be pretty
difficult to convince your clients and candidates to believe it. You must
believe that you are worth every cent that you charge and that working retained
is better than working contingently for everyone involved.
5.
Big perm billers stay ahead
of the market and know their competition. In times of economic boom
(like now) we work differently to how we would work during an economic slowdown
or recession. You should now be safeguarding your client base ready for the
slowdown in 2007. Knowledge is power in our industry – keep your friends close
but your enemies closer! Know exactly what your competitors are offering your
clients, how often they are canvassing your clients and who in particular is
making the approach. Ask your clients and candidates for information on your
competitors but remember never bad mouth your competitors to anyone.
6. Building a high billing desk is about gaining the
skills and knowledge required to be successful and then implementing what you
have learned. Watch successful consultants within your office, read books,
listen to CD’s and attend any training session that you can. Take on board the
points mentioned above and you will be well on the road to becoming a big
billing permanent consultant
