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Four Steps to Negotiating Higher Fees
by Scott Love, Principal — August 10, 2006
About six months ago, I was marketing a senior vice president of business development who was one of the top producers in his industry. He had personally brought in several hundred million dollars of business last year, and was making a move because of some leadership issues in the boardroom. He was a hot prospect who would make millions of dollars in net profits for his next employer.
I found a possible company who was interested in him. I called the CEO, explained the candidate's background and motive to move, and the CEO seemed very interested in meeting with the candidate.
Time for the fee. Inhale. Hold breath. Pause for four counts. Exhale. Relax. Okay, now go. I said, "The way our fee structure works, Bob, is that if you hire this candidate, my fee is thirty percent of his first year guaranteed compensation. And if you're okay with that, I'll email his information to you and follow up with you tomorrow to set up a meeting between the two of you."
"Thirty percent?...Ouch!" he said with a dramatic groan in his voice. "I can't believe you're charging thirty percent when everyone else I am dealing with is charging twenty or twenty-five percent!"
Out Recruit the Competition
by Brett Stevens, Executive Recruiter — May 22, 2005
We hear from our clients that they "hope the candidate takes the job." Hiring a candidate shouldn't be a guessing game. After you interview a candidate thoroughly, and spend a great deal of time and money getting them through the process, you should not have to worry about "landing them."
Donald Trump was quoted as supporting paying full price for something important to you. Many deals, both in business and in personal situations, are lost over $5,000-10,000. $5,000 to $10,000 broken down over time is a small amount. Imagine losing your dream house over $5,000. That's roughly $14 per month. That's a tough loss. Again, if there is something you must have, pay full price and don't let it slip away.
Creating demand for the "Art of Recruiting" using ROI selling
by Shawn Upchurch, Principal — May 15, 2005
ROI selling makes sense, but not for the faint-at-heart. As an executive recruiter, I have wrestled with quantifying the financial value of my customized hiring programs for years. The best I have to offer from tracking my performance since 1997 is that I am 93% accurate in predicting on-the-job performance.
But, what are my client's return-on-investment? Great question!