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Recruiters: You're Worth the Money You
Charge By
Bill Radin
As a recruiter, I can’t tell you
the number of times I’ve heard the expression, “fifty percent
of something is better than one hundred percent of nothing.”
To which I reply: Hogwash! Fifty percent is better only in a
collection or bad debt crisis, when someone is cheating you
out of what he owes you, and you feel lucky to recoup any part
of your loss.
But caving in on a regular basis and
accepting less than what your service is worth is not only
costly in financial terms; it subconsciously telegraphs to
your customer that you’re not a “believer” in what you do for
a living. Eventually, this kind of noncommittal attitude will
harm your credibility, and weaken your earning
potential.
Some years ago, I had a “fifty percent of
something” experience which proved to be very painful in the
short term, but beneficial in the long. I cold-called the vice
president of a company and proceeded to market an extremely
talented MPA (most placeable applicant).
“Bill, your
candidate sounds like the sort of person we need,” explained
the vice president. “In fact, we’re currently conducting a
search. But we’re using a retained search firm on this
assignment.”
“So you’re pleased with the results you’re
getting,” I replied.
“Well, not exactly. You’re
probably aware of how difficult it is to find someone like
this.”
“Indeed I am, Mr. Employer, and that’s why I
called you. What should we do?”
“Tell you what,” said
the vice president. “Why don’t you talk to Leo, the other
recruiter? Tell him the situation; that you have an ideal
candidate I want to interview. Maybe the two of you can split
the fee. See what he says, and call me back.”
What
could be the harm? I figured. Sure enough, Leo was
receptive to the idea. It turns out he wasn’t getting anywhere
on this assignment.
“How about it, Bill? You and I will
split the fee fifty-fifty,” suggested Leo. “That way, we’ll
both look good. And besides, fifty percent of something is
better than one hundred percent of nothing,
right?”
“I’m not sure,” I hesitated. “Let me think
about it and I’ll call you back.”
Now I was really
confused! I went to my manager for advice.
“I’m sorry,
Bill,” he said, shaking his head, “but I can’t approve a split
deal like this.”
“But it would mean walking away from a
lot of money,” I groaned. “And besides, there’s no guarantee I
can place my candidate anywhere else.”
“That’s just the
risk you’ll have to take,” my manager replied. “You see, the
issue here isn’t the money. The issue is the value of your
service.”
“How do you mean?”
“Well, you took
the initiative to call the employer and present your
candidate, right?”
“Right.”
“And he’d like to
interview your candidate because he’s perfect for the
job.”
“True,” I said.
“Now, let’s suppose you
were to arrange the interview, and as a result, the company
decided to hire your candidate. Haven’t you done everything we
teach you to do, and done it well?”
“Sure,” I answered
proudly.
“So aren’t you entitled to 100 percent of the
fee, and not a penny less?”
“I guess so.”
“Now
ask yourself this: What did Leo, the other recruiter, do to
earn half your money?”
As I walked back to my desk, I
thought about what my manager just told me. He’s right! Why
should I give Leo half my fee, just because he happened to
write a job order? A few
minutes later, I called the vice president.
“Mr.
Employer,” I said. “I spoke with Leo, as you suggested, and he
offered to split the fee with me. But I’ve got some
disappointing news for you. I thought it over, and I can’t in
good conscience give Leo half my fee. I just don’t feel it’s
fair.”
“I don’t blame you,” said the vice president.
“Leo shouldn’t be rewarded for his failure to find me the
right person. Unfortunately, I have to stick with Leo, because
we signed an exclusive agreement, but I appreciate your
calling me. Let’s keep in touch.”
“Fine. I’ll call you
in a few months”
Would you like to know how this story
ended? Leo finally placed a marginal candidate with the vice
president’s company. I stayed in touch with the company, and
even made a courtesy call to meet the vice
president.
Two years later, the candidate Leo placed
was fired, and I was asked by the company to fill the vacant
position, which I did, for a full fee. The lesson I learned?
You never need to settle for less than you’re
worth.
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