3 Easy Tweaks That Could Add £££££ Onto Your Bottom Line
Posted by nicky
[This is a direct transcription from the video please excuse any typing errors.]
Hi I’m Nicky Coffin and welcome back to our Recruitment Manager Training Tips.
Sometimes it’s the smallest things that can make a big difference in reaching your targets. Top performing recruiters are constantly tweaking just a few simple things that makes a massive difference to their results and how they utilize their time. Today I’ll share some of the secrets that can turn an average biller into a top billing recruiter.
There are really only three basic ways in which you can increase your revenue:
- Increase your average order value
- Increase number of sales
- Increase spend per customer
Let’s consider these things in terms of recruitment. There is not much to differentiate a mediocre candidate and a great candidate. There doesn’t seem to be a significant difference in earning 22% fees or 25% fees. Or even a great job versus and alright job. But those little differences all add up and here’s how you can use them to your benefit.
Firstly, increase the quality of your jobs:
Many recruiters spend a lot of time and effort trying to fill jobs that really aren’t fillable. What if you were to focus on only working on the A-grade jobs? How much time will you save? Think of the quality of candidates you can attract if you are only working the great jobs. The first thing to do with your team is define what an A-grade job is, and to be thorough you can also classify a B, C & D job. You want to focus on the A jobs and discard the D jobs. Also making sure that you have fillability criteria there too. Because you can have an exclusive or retained job that’s impossible to fill.
You can do this by being really thorough and taking time when taking on the job. Asking probing questions so that you can be really clear on what is wanted – quality rather than quantity.
The same applies for candidates. Focus on getting really quality candidates that increase your chances of placing them.
The 2nd thing can turn an average biller into a top billing recruiter is become a niche specialist:
Have you heard the saying an inch wide a mile deep?
Create and focus on specific market niches. Becoming a specialist, a knowledge leader and an expert in your space will mean that people then seek you out to help them. Being a specialist will enable you to attract the top candidates and the top jobs in a specific industry. When you can achieve this then you will be able to generate higher level fees and business will come to you. It goes against everything in our pschy to do this, people think by having lots of variety and different jobs will give them more opportunities and therefore security then they just spread themselves too thin – always have to start something from scratch. Actually what happens is you become a jack of all trades and master of none. Niche is the way forward –and a niche can be a specialism or a geographical area…
The 3rd thing can turn an average biller into a top billing recruiter to focus and only work certainty:
By this I mean work on the jobs that you know you can place, the quality jobs and the quality candidates. Often 80% of a recruiter’s time is taken up on dead end jobs or dead end candidates. If there’s a candidate or job that you aren’t 80% sure you can place then delegate it to someone else. Only spend your time an effort on jobs that you know will bring in good revenue.
With these three small tweaks you can start to consistently be more productive and generate more revenue. It’s true that the small things can make a big difference, just make sure that you are focusing on the right small things that’ll help you achieve your goals.
That is our recruitment manager training tip for today and if you would like to know 9 specific strategies to enable your team to bill more then sign up to my new free training webinar – The 9 Keys To Get Your Team To Bill Multiple 6 Figures This Year And Beyond. I’ll be showing you the specific strategies and techniques to get increased performance fast and here’s our link to sign up.
I look forward to seeing you next time!
P.S. I go into the whole arena of motivating billing teams in our Billing Manager programme. We open for registration 3 times a year. If you want to find out more call our office on 0845 319 4848.
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