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Tuesday, September 19, 2017

The Top 5 Things to Consider When Establishing a Contract

If you’re establishing a contract with a recruiting partner, there are a few key things you need to consider. Today, I’ve got a list of the top five things to think about.

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Today I want to go over the top five things you need to consider when establishing a contract with a recruiting partner.

1. The performance guarantee. This can manifest in many different ways. The following is just one example of how a performance guarantee might work: The firm will present five candidates who meet all of your minimum qualifications within 30 days. These candidates will all be within your compensation range and should be genuinely interested in your opportunity. No matter how this performance guarantee is arranged, it is a great thing to put into your contract.

2. The fee itself. Is the fee flat, percentage-based, or off of total compensation? If your fee is off of total compensation, the key thing is to consider is if it’s well-defined. A lot of retained fee agreements are off of total compensation, so this will be an important thing to consider.

3. KPI—Key Performance Indicators. A KPI is a set of mutually agreed-upon bullet points about the way the search is supposed to go. Personally, I like to put these on a one- or two-page statement of work. These really help to solidify the expectations of the firm by putting them into writing. 

In any case, the most important thing is that both sides agree.

4. Your retention guarantee. If something doesn’t work out with this new hire within a certain amount of time, what are your possibilities with that firm? Will the firm re-recruit for free or for a discounted replacement fee, or will they perhaps offer a 100% money-back guarantee? In any case, both sides need to agree to what will happen in this scenario. 

5. Your non-solicitation clause. This type of clause is found in most contracts, but it’s worth understanding the wording of yours nonetheless. One key thing to consider is when the non-solicitation clause goes into effect. One or two years are the most common lengths for a non-solicitation clause.

If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.

Tuesday, August 15, 2017

How to Determine if You Should Make a Counteroffer

Today I wanted to list 10 things you should consider before making a counteroffer to an employee.

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Today I wanted to talk to you about counteroffers and list ten things that you need to consider when making a counteroffer.
  1. What is the real reason this person is unhappy or considering leaving your company? What are the non-monetary reasons that they are unhappy?
  2. Is this person a true top performer in your organization? Is this someone you cannot afford to lose and would be extremely costly and challenging to replace?
  3. Do other employees already know that this person has been going to other interviews and wants to resign their position?
  4. Has your company or department specifically evaluated who your top performers are in advance?
  5. Have you really considered the ramifications and unknown consequences of developing a reputation of doing lots of counteroffers?

  6. You have to be extremely selective as to who you give a counteroffer to.

  7. You have to be extremely selective as to who you give a counteroffer to. Go with the 80/20 Rule- only give counters to 20% of your top performers and let the rest go.
  8. The counteroffer is not a retention technique. They really are a last-ditch effort to keep the best top performers at your company.
  9. Is this someone you should let go without a fight?
  10. Do not become a victim to the threat of other interviews. Some employees use it as a form of leverage in order to secure a raise.
  11. Keep in mind that the majority of employees who accept counteroffers are no longer with that company 12 months later.

If you have any questions about this topic or any other topic, please give me a call. I look forward to speaking with you.

Wednesday, August 2, 2017

The Most Important Things to Look for in Resumes

When examining potential candidates for a job there are a few important things you must consider when looking at resumes and during the interview process.

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During the interview process, there are a few things you need to keep in mind when it comes to questions you should ask and also what you should look for in a resume.

The first thing I look for in a resume is the chronology—the titles, dates, and names of companies listed in reference to a person’s employment history.

This information can tell you a lot about the person behind the resume. You can learn how frequently they tend to change jobs, how long they stay with companies, and whether the companies they’ve worked with were reputable. Ultimately, the past is the No.1 predictor of the future.

Looking at titles is one good way to see examples of this. Has the person experienced promotions or changes in title throughout their chronology? If you see the person has steadily climbed in their career, you can expect the same of them in the future.

Additionally, when looking at a resume it’s important to note whether it utilizes an appropriate aesthetic and also what the person has done to differentiate their resume from the rest. A resume that stands out in a good way tends to indicate a person who does the same.

Ultimately, the past is the No.1 predictor of the future.

It’s also important to examine any additional information found on a resume, such as skills, technological proficiency, and more. Usually, my team and I are able to determine whether we want to interview a person based on their resume within 60 to 90 seconds.

Another point which solidly indicates a good resume is its use of quantitative statements and numbers. Specifics such as the number of people managed and the size of budgets can help to concretely show how adept a candidate is at what they do.

But not everything can be found out from a resume alone. There are also five key questions you need to ask in the interview itself.
  1. What do you love about your current role?
  2. What do you want out of this role that you do not have now?
  3. What are your career goals for the next three years?
  4. Have you ever been placed by a recruiter?
  5. What is motivating you to make a move?
If you want more information about looking at resumes or conducting interviews, or have any other questions, feel free to get in touch by giving me a call or sending me an email. I look forward to hearing from you soon.