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Welcome to issue 329 of the ukrecruiter newsletter.
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CONTENTS
Visit http://www.careersinrecruitment.com for the latest recruitment industry jobs. |
Financial Hints and Tips: Number Three Financial Management Hints and Tips is an occasional series from The Outsourced Finance Department aimed at providing practical help to business owners and managers. Cash - The Lifeblood of your Business Two common quotes which seem to be strangely forgotten by many businesses: "Cash is King" and "If you fail to plan, you plan to fail" The cash does not take care of itself, it needs to be managed. A strong regime of tight cash management is an excellent discipline in any business; however financially fit it may appear to be. Cash management does not mean paying everyone as late as possible either, in fact quite the opposite. A good payment policy is a very positive attribute to a business giving you a good head start when negotiating prices or discounts. For more detailed information on this subject contact us for our free white paper entitled: Cash – the lifeblood of your business. To find out more about The Outsourced Finance Department visit
www.tofd.net or call 01279 647447. "My Favourites" will be back next week. Why not submit your 3 favourite web sites. See the guidelines at http://www.ukrecruiter.co.uk/articles.htm |
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Article One: Review of the Executive Search Practitioner Conference by Dan Atkinson The Executive Search Practitioner Conference billed itself as an opportunity for search professionals to “learn, network and share ideas, in a non-competitive environment”. Over several years I have had the good fortune to work with a variety of search practitioners across the globe. Most have been dedicated professionals, grounded in excellent service and a dedication to partnering their clients. A small minority have been journeymen working in recruitment until they manage to get a place on ‘The Apprentice’. Thankfully, the attendees and speakers of ‘The Executive Search Practitioner Conference’ fell into the first category. On board the HMS President we were treated to a considered day of presentations that struck a comfortable balance between the realist (attaining professional recognition in executive search), the practical (how to be a better search professional, how to succeed in the war for talent) and the aspirational (how to value and sell an executive search business, how to build a global search business). As an outside research resource one is usually central to the processes of delivery but detached from the workings of international search consultancies. This was an opportunity for me to learn about what really goes on (and of course ensure a few of my business cards were distributed in the process). Chris Clarke, President and CEO of Boyden International started proceedings by sharing his views on the need to move towards recognition of Search as a profession, and in particular advocating membership of the Association of Executive Search Consultants (AESC) as a starting point. He was then followed by Anthony Saxton who gave an interesting insight into what he has learned from many years in our industry. Anthony’s emphasis of the need to be honest about all aspects of a position with potential candidates was particularly refreshing. Following a short break we were then treated to presentations from Ulrich Ackermann of Transearch, Lindsey Conen from Dillistone Systems and a Q&A session from an selection of industry professionals. Following a first rate lunch and a quick speedboat trip up and down the Thames (recommended even if you miss the conference), the afternoon settled down with two particularly frank and engaging presentations. Carl Thomson, CFO of Hexagon Human Capital plc shared with the assembled delegates the processes involved in the sale of a search business. As a search outsider his presentation focussed purely on business necessities and doubtless gave many of the assembled food for thought. Alberto Amaglio of Korn / Ferry International then came on to give us his impassioned views as a senior executive of a world leading search firm, emphasising the business value inherent in providing a consistent global process and service. Finally Industry veteran Peter Felix, President of the Association of Executive Search Consultants rounded off proceedings with an encouraging assessment of the current market. The day was a good opportunity for search consultants from across Europe to learn from one another. Delegates across the globe were present, and the feeling I got from speaking with other attendees was that it was time well spent. If I were a retained consultant rather than predominantly research focussed then there were probably a few questions I would have wanted addressing. The forecasts for future growth given by the speakers were generally optimistic, whilst anecdotal evidence in the market would tend to disagree with this. As such the chance to discuss how to operate in an unsteady market would have been welcomed. Ditto a lot of talk was given to being perceived as a profession but little concrete ideas beyond interview skills training and membership of the AESC seemed to be suggested. As an external researcher the opportunity to take a look at what the retained search practitioners were up too was certainly an interesting one. Overall it was a well organised and well presented event. The opportunity to hold structured round table conversations between delegates would have been welcomed, as would practical advice on a market downturn. These criticisms aside, I would still recommend the event for retained search practitioners keen to understand more about established industry players as well as build there own industry contact network. To view the conference programme visit
www.search-consult.com/practitioner2007. If you wish to find out more from any of the speakers you can contact them via the conference organiser Yann Le Leyour at
events@search-consult.com. Dan Atkinson is a director of Accite Executive research. He has been in international search for over ten years as a provider of research and researcher training services. He holds a BA in Behaviour in Organisations from the University of Lancaster. contact dan@accite.co.uk, www.accite.co.uk or 01423 565 999. |
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Article Two: Negotiation Tactics for Recruiters By Bill Radin Everything is not negotiable! I recently tried to leverage one bank against the other when applying for a loan, arguing that if I couldn’t get the interest rate I wanted, I was willing to walk away. “Go ahead,” the loan officer chuckled. “I’ve got eight other applications on my desk, waiting for approval. If you can get a better deal somewhere else, be my guest.” He’s got a lot of nerve, I thought. But I sure respect the way he held the line. Later, I found out that his bank had one of the highest ratings in the industry, and was one of the most profitable institutions in the country. And eventually, because of other value-added services they could provide me, his bank became my lender, even though they had a somewhat higher rate. Negotiating: A Way to Satisfy Needs Price, of course, is only one aspect of any sale. If the transaction involves a commodity (such as rice, or soybeans, or crude oil, for example), then price may very well be the predominant issue. Recruiters often find themselves in a position of trying to negotiate for a standard fee when others are discounting. The most successful recruiters know that the only way to offset a concern surrounding price is to build value. Otherwise, the service provided is viewed as a commodity, with the recruiter assuming the role of a vendor, or supplier. The way to distinguish your service and its value-added dimension is to probe for the needs of the employer, and the urgency in filling a position. Once the need has been identified (and qualified), you’ll be in a position to hold the line, or at least reach an agreement in which both parties feel satisfied. (If you are unable to discover a compelling reason why your service warrants the full price you charge, then unfortunately, you may have to settle for whatever you can get.) The loan officer at my bank was able to secure my business, even though he charged a higher rate of interest than a competitor. The reason? There were other important considerations which I valued that led to our settlement. Achieving a Successful Settlement You can sharpen your negotiating skills by following these four steps. 1. Measure what the other side wants. Before you begin a fee negotiation, for example, find out exactly what the employer is asking for. I know this sounds rather obvious, but you’d be surprised how often a recruiter will give away the store after hearing the employer ask for a concession that’s totally vague. 2. Qualify the negotiation. If the employer isn’t sincere, isn’t in a position to buy, or has completely unrealistic expectations, you shouldn’t be negotiating at all. What good does it do to settle for a reduced fee with a prospective client in the first five minutes of taking a job order only to find out twenty minutes later that he won’t be hiring for another six weeks and that he’s currently interviewing five dozen candidates from the ads he’s been running for three weeks? 3. Probe for pertinent information. After you know what your employer is proposing (and he’s qualified to negotiate with you), try and gather every bit of information you possibly can.
4. Assess the situation. How much do you need this employer’s business? What are your chances of filling his job orders? What will you gain from making concessions? And if you do make concessions, what will they be? You are now ready to reach an agreement, but remember that you can always delay if you feel you have to. It’s better to put off a bad or uncomfortable deal than agree to something you’ll later regret.
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Don't Miss This (sponsored by http://www.alljobsUK.com "The UK’s Jobs Portal") REC News Roundup
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Course Reviewer? This section is sponsored by http://www.alljobsUK.com "The UK’s Jobs Portal" |
Online Recruitment Update (sponsored by http://www.broadbean.co.uk for "the UK's favourite job posting system") Hitwise top 10 Recruitment
Sites, week ending 6th October 2007 Louise's UK Recruiter blog Employmentbuddy.com resource Press Release: Ex-Mil Recruitment's Campaign Press Release: Bright, Green and Talented Discussion
Board Summary This section is sponsored by http://www.broadbean.co.uk; "the UK's favourite job posting system". |
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Regards
Louise Triance
UK Recruiter http://www.ukrecruiter.co.uk
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