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Welcome to issue 399 of the ukrecruiter newsletter.
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CONTENTS
Visit http://www.ukrecruiterjobs.co.uk for the latest recruitment industry jobs. |
Weekly Tips - If I've Learnt Three Things in Recruitment.... 1) Never ever assume anything! 2) Clients will pay more for a genuinely good service. 3) Good recruiters have to be so much more than just good sales people. Jo Wynsor of Wynsor Allen (http://www.wynsorallen.co.uk) Thank you to everyone who took the time to send their "three things" in to us. If you want to suggest yours you can do so here. |
Advertisement Use Job boards a lot? Talisman's CVQ module automatically adds response submissions to your ad to the shortlist and advises the Consultant This is in addition to the standard features: CVQ, part of Talisman - the fully integrated Front & Back Office solution for Recruitment Agencies Call or email Tony Doherty - 01582 478 888, info@recruitment-software.net or visit our web site www.recruitment-software.net
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Article One: Split Fee by Greig Harper Working with other recruiters on split fee placements has something of a reputation within the industry. It certainly can have problems but when done correctly it's an excellent way of finding candidates and a valuable source of commission. Despite the downturn there's still many pockets of business where talented candidates are in high demand and short supply. At the same time, other recruiters have developed their own databases of passive candidates who aren't searching job boards or registered with CV databases. Split fee is a way to source talented candidates, fill roles and keep clients happy. There are two situations in which split fee recruitment makes sense. The first is working with other recruiters on difficult searches. In areas of high candidate demand such as specialist engineering it's not unusual to see recruiters with jobs open for months while recruiters hold out for that elusive candidate. Surely it's better to work with other recruiters to fill the role, earn a good chunk of a commission and meet your clients need? Fifty percent of a commission is better than a one hundred percent of no commission and a client waiting for you to fill their role. The second way is to work with a recruiter who can add something to your current service. Say you recruit qualified accountants. You're a natural point of contact for your clients when they need mainstream finance roles such as credit controllers or ledger assistants. Building that part of your business might be time consuming so partnering with another recruiter means you can help your clients and you gain business you'd otherwise be turning down. Split fee recruitment does make some recruiters nervous but there's one key rule which can make any split fee deal simple.. Decide from the outset how the deal is going to work and issues should be simple to resolve. Here's a few things to consider: Job Spec Terms Fee Clawbacks Candidate Ownership Candidate Feedback Poaching Reading this list might cause you to consider whether split fee arrangements are worth it. The truth is that as demand for candidates in specialist sectors remains high then split fee setups are an excellent way to gain access to candidates who aren't available through traditional sources. It's not uncommon for recruiters to have specialist roles open for a number of months. But the client has a business requirement now. Searches which take a long time risk weakening relationships with clients. If a competitor can come up with a candidate in the mean time then you risk not only losing this role to your competitor but future business too. Working with partners on a split fee basis raises your chance of finding candidates, offers your client a wider range of suitable talent and gets you your commission. A split fee is better than no fee.
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Advertisement Survival techniques for recruiters in harsh environments Staying alive in an arid climate is tough and tomorrow’s economic forecast remains poor. The latest Market Economics (KPMG/REC) survey reports record falls in temp and permanent appointments. The CIPD says UK employment intentions have plunged to the lowest figure in five years. So how can recruiters survive such a period of little or no employment? Through winning a larger share of the smaller market with targeted lead generation. Through adding value to client services with intelligent profiling. And through ensuring your firm stands out from the clamour of desperate recruitment agencies with your use of sharp competitor analysis. For a product demonstration, register at www.innovantage.co.uk |
Article Two: Financing Your Recruitment Business During 2009 – The Impact of the Credit Crunch by Brian Pursey There is no doubt that the recruitment marketplace is bracing itself for choppy times following recent turbulent economic events. Here Brian Pursey, CEO of Cheltenham-based Oriel Group, considers the impact on recruitment businesses, and offers some practical advice to recruiters looking to weather the storm during 2009. With so much talk about the recession it comes as no surprise that employees increasingly prefer to hold onto the jobs they know, too scared to move to a new employer. The lack of people on the move, the fuel of the recruitment industry, is now causing the industry to slow right down. So times are tough for permanent staffing agencies and this is made worse as employers are reluctant to commit to long term appointments, amidst such a climate of uncertainty. Temporary staffing agencies are also badly affected as businesses reduce headcount to counter the slowdown – and temporary staff are the first to go. Whilst it is very difficult to forecast precise timings, it is possible that demand will begin to pick up from the middle to late 2009, at which point those companies that have survived will find themselves short of staff to carry out essential functions and projects. Temporary agencies are then likely to rally and prosper more quickly, as they can provide a quick fix whilst permanent agencies may struggle to source good candidates quickly enough from the sluggish permanent marketplace. The good news is that the latest actions by the Government could mean that the recovery could be rapid when it comes, which will be fantastic for the recruiters. So what does all of this mean for the individual recruiter, and what steps can you take to ensure your business is in the best shape possible to ride out the worst of the recession? Radical times call for radical measures and some of these points will make you feel uncomfortable, but doing nothing is not an option if your business is to prosper into and beyond 2009. 10 points to help recruiters weather the financial storm... 1. Attitude. It is a major problem for agencies struggling to survive now. Accept that the situation will get worse – understand this, and do not bury your head in the sand. You can, and most certainly should, take action now. 2. Overheads. Really reduce your overheads and make sure they do not exceed your income. Consider any new investments extremely carefully, and take advice on the short and long term benefits of any investments. If the prospect of a move to new premises, or an increase in staff were on the cards, then put them on hold for now. 3. Staff. Assess the number of staff you employ already. Reducing numbers may be necessary to ensure the business is as lean as possible, but take care to consider first the skills most needed to adapt to challenging and changing times ahead. 4. Expenditure. Analyse in detail all your expenditure and watch every penny spent. Squeeze more out of what you do spend and ensure you have the best value from all your suppliers and are not duplicating any efforts. 5. Personal pay. For thousands of small recruitment businesses, many of them sole traders, cost control is even more difficult as they need to look to reduce their own costs by taking less out of the business for their own personal income. Prepare to draw less from the business by making adjustments to your own personal finance arrangements and domestic spending patterns – at least in the immediate short term. 6. Finance. Assess your existing business finance arrangements, but take care about switching providers as it is not the best time to structure a new deal. The credit crunch has left the banks and some of the invoice finance companies reluctant to lend money at competitive rates, or even at all. Your existing lender may be better as they are more likely to be flexible based on their relationship with you, even if that flexibility is more limited than it used to be. It is always worth shopping around, but check that any new supplier can and will deliver what they promise. 7. Outsource. If you are beginning to struggle with PAYE and VAT, consider using an outsourced provider who has the expertise to take care of your back office processes as part of an overall service, which includes looking after slow crown payments. When outsourcing your business finance, shop around for quotes as it can decrease your overall costs and provide other time-saving benefits, including access to experienced credit control staff. 8. Accountant. Do not underestimate the difficulties in finding a good accountant who will not only prepare your accounts and tax return, but will also offer expert and meaningful advice to your business. You should feel you can work in partnership with your accountant and trust their advice to help see you through difficult times. This means taking appropriate action before, as well as during, any downturn. 9. Openness. Do not wait until it is too late. As soon as you anticipate difficulties, do talk to your outsourced suppliers and financial providers before problems really take root. Most providers prefer clients to be open and honest so that they can work together more effectively and develop a solution in good time that works for both parties. 10. Plan. Do not stop planning beyond the immediate crisis. Those businesses that can take a longer term view – as well as focus on the current priorities – will be the ones to truly prosper when the economy begins to pick up again. Despite these challenging times, do not lose sight of your ultimate vision and be proactive in shaping the future success of your business.
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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 11th April 2009 Recruiter blogs Discussion Board Summary |
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Advertisement LinkedIn Guide for Recruiters LinkedIn is a vital resource for all recruiters and UK Recruiter has created an inexpensive and detailed tool to help you exploit this invaluable source of candidates and information. This guide will take you from creating and optimising your profile through to sophisticated methods of utilising LinkedIn for sourcing candidates, raising individual/company profiles and on to the utilisation of all of LinkedIn facilities. To purchase this 17 page detailed guide for only £4.99 please visit the UK Recruiter Site. We have also just produced a UK Recruiter's Jobseekers Guide to LinkedIn which you can purchase from the same page.
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Don't Miss This Post Recruitment Jobs for Free Press Release: New membership body for the recruitment industry;
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Regards
Louise Triance
UK Recruiter http://www.ukrecruiter.co.uk
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