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Welcome to issue 395 of the ukrecruiter newsletter.
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CONTENTS
Visit http://www.ukrecruiterjobs.co.uk for the latest recruitment industry jobs. |
Weekly Tips The favourites this week have been suggested by two of my fellows Twitter users https://portalqa.manpower.com/wps/portal/GBCampus/meos - Manpower Employment Outlook Survey (suggested by @wendyjacob) http://www.businessballs.com/ - Free career help, business training and organizational development (suggested by @wendyjacob) http://www.theengagingbrand.typepad.com/ - The Engaging Brand Blog (suggested by @skyemma) http://www.pipl.com/ - people search on the web (suggested by @skyemma) You may also like to follow me (@louisetriance) and UK Recruiter (@ukrecruiter) on Twitter 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: How to Overcome Fee Objections; 23 Great Answers for When Clients Say “You’re Too Expensive!” by Mark Whitby You don’t need to discount to win business. Even in today’s market, there are many effective ways of responding to price objections. In this article Mark shares 23 specific answers for when clients say “you’re too expensive” or “other recruiters only charge 15%.” Read over this list of answers carefully and choose 2-3 different approaches that you like best. Instead of just memorizing them, I suggest you re-write them in your own words and really make them your own. Finally, rehearse your scripts with colleagues using role-plays until you’ve mastered them. When you do, you’ll feel a lot more confident about handling price objections! Here are your rebuttals… 1. Actually, it doesn’t cost you anything unless you decide to hire my candidate. I’m willing to take all the risk, investing my time, effort, experience, and market knowledge. I’ll even absorb all the advertising costs. You only pay a fee when you’re satisfied that the candidate I’ve introduced is worth the investment. That’s fair, isn’t it? 2. Setting price aside for a moment, you do want the very best candidate, don’t you? What’s more important to you – hiring the best person, or saving a few pounds on the finder’s fee? So in other words, you’d be willing to pay my fee if I was able to provide the best candidate? 3. I understand how you feel. In fact, many of my best clients felt the exact same way before they tried our service, and what they found was that our fee was worth every penny because we provided exclusive candidates they couldn’t get elsewhere, and saved them a lot of time and effort in the process. 4. There is no discount for one-off placements, so unless you can guarantee us volume business, the fee would stand at 25%. 5. You’re right – it is a big investment. That’s why it’s essential that your project is allocated the time, commitment and resources it deserves. 6. What is your current understanding of what we do? Well that’s certainly part of it. Let me explain how we earn our fees and what’s actually involved… 7. “Too expensive in relation to what?” or “I appreciate your position – may I ask what are you comparing it to?” 8. I understand that your current suppliers charge less. Of course, if they had come up with anyone suitable, you wouldn’t be talking to me! 9. I understand that other recruiters have quoted less. What you need to ask yourself is: why they would agree to such a big discount? Is it because they’re desperate for business, or do they just not plan to spend very much time on your vacancy? 10. I understand other recruiters have quoted less. The fact is that they need to make a profit just like everyone else. So if they’re charging below market rate, you have to wonder: where do they make up the difference? Do they hire less experienced recruiters? Pay their people less? Do they cut costs on staff training? Do they spend less money on advertising? What impact do you suppose these limitations will have on their ability to deliver the quality of results you’re looking for? 11. How much do your other suppliers charge you? Tell me, if they’re dealing with you at 15% and another company at 25%, which company do you suppose they’re going to send their best candidates to? 12. As with any product or service, you can always find a cheaper alternative. In your experience, don’t you find that you usually get what you pay for? 13. If you’re looking for a recruiting firm based on price alone, we’re probably not going to be right for you. We’re not the most expensive, but we do compete at the top end of the market. Tell me, is price your overriding concern, or is it a professional, ethical approach that gets results? 14. I’d really like to work with you. I just can’t provide the quality of service you deserve at a lower price and we’re not willing to compromise our standards. 15. What alternatives have you considered? How much of your own time does that involve? What is your billable rate (for consultants, accountants and lawyers) or how do you value your own time (for managers and executives)? When you consider the time-cost of those other methods, doesn’t it make sense just to let us handle it for you? 16. The fact is that you won’t get a contractor with the skills and experience you want for less than [charge rate]. If that’s beyond your budget, we’ll need to set our sights a little lower. So which of these skills, experience or qualifications is not essential? 17. Good temps are in high demand. They might accept lower wages initially, but they’d probably keep looking for a better opportunity. Are you willing to risk loosing someone after 2 days, or do you want someone who’s going to stay for the duration? 18. Which level of service do you want: A, B or C? Obviously we need to prioritise our workload, so the clients who meet our ‘Grade A’ criteria are the ones who get our priority time and attention. [Educate them - explain the difference between an A, B, and C level search in terms of what they get. 19. How important is this position? Why is it so important? How much is this appointment worth to your business? Would you settle for an average candidate, or do you need a top performer? Top-calibre candidates are usually not looking for a job, we have to go and find them. That means a basic file search, or advertising on the job boards, probably won’t turn up the right person. [Explain what’s involved in conducting a search assignment] I can’t provide that level of service for less than 30%. 20. What would be the cost of hiring the wrong person? [Studies estimate the cost at around 2.5 times the candidate’s annual compensation.] What impact could hiring the wrong person have on your business? What effect might that have on client relationships, production deadlines, staff morale? How would that affect you personally? 21. We can create a special fee structure for you based on volume. The more people we place with you, the lower the fee. What we would need is a written preferred supplier agreement and one week head start on all vacancies. What is your recruitment budget for the next 12 months? 22. I respect you for asking. I would do exactly the same in your shoes! You probably save your company a lot of money by asking that, don’t you? Let me show you how our service will actually save you money in the long-run… 23. This is what we charge everyone else, including our regular clients who give us considerably more business that your company does. It wouldn’t be fair for us to charge you less than we charge our most loyal customers, would it? Bonus Tips. These rebuttals should be used “tongue in cheek.” Humour can sometimes help to break the ice and build rapport during tense negotiations. 24. I have no argument with our lower-priced competitors. They know best what their service is worth! 25. No problem! Of course, I can’t give you the full service for that price. So which part of the service do you not want? Mark Whitby is a Coach, Trainer & Consultant helping UK recruiters to maximize their performance. You can download the full report at www.overcomefeeobjections.com. Want to make more placements and grow your recruiting business? Now you can receive world-class recruiter training "on demand" from your desktop 24/7. You'll find videos, audio programs, articles, downloadable forms, templates, checklists and much more. Check out the benefits of membership now |
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Article Two: Top Tips for back office improvement by Daniel McPherson Recent research has found that SMEs in the recruitment sector could be losing up to £350,000 a year through poor back office management. But with an economic downturn still looming how many organisations can really afford to be throwing away as much as 4% of their turnover when an effective back office system can quickly save both time and money? Daniel McPherson, CEO of InTIME Solutions gives his 5 top tips on what to look for in back office management software: Integrate systems front to back to reduce errors and re imputing info All too often payroll staff find themselves continually copying booking details from the front-office software and re-typing it into the back-office software. Look instead for a package that will bring together front and back office systems. This will allow your payroll staff to work with more accurate information, meaning less time spent correcting errors or dealing with wrong payments. Set up E-payslips Are you really still sending payslips in the post? On average, it costs £0.68 per person per week to send workers their payslips this way - that’s £35 per worker per year. When you take into account the extra time and cost involved in sending workers further copies of their payslips when they apply for mortgages and tenancy agreements, it's a great idea to get them onto the web where they can easily be downloaded. Automate umbrella pay schedules Lots of you out there will be dealing with umbrella companies and how many of you consequently need to devote a member of staff to copying hours and pay-rates into the format required by the umbrella service? Look for a system that will automate this process and you’ll make immediate financial savings. Insist on real time reporting It is vital for managers and decision makers to be able to monitor the progress of their teams on a continuous basis. But it often takes a ludicrous amount of time to generate reports because data often needs to come from both front-office and back-office software systems. Real time reporting allows instantaneous alignment of back and front office information and will give you management information and earnings updating live on-screen. Reduce debtor’s days by using semi-automating credit control There is always a gap between paying the worker and receiving money from the client, causing high finance costs. Making the invoice process electronic can give a big reduction in debtor days - even if you only save the time it takes for your invoices to arrive in the post, that's going to be several tens of thousands of pounds onto your bottom line.
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Online Recruitment Update (This section is sponsored by http://www.1Job.co.uk; "the leading UK job search engine") Hitwise top 10 Recruitment
Sites, week ending 14th March 2009 Louise's UK Recruiter blog Discussion Board Summary This section is sponsored by http://www.1Job.co.uk; "the leading UK job search engine" |
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Regards
Louise Triance
UK Recruiter http://www.ukrecruiter.co.uk
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