Pinnacle Perspectives Live 2010

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Panel from the Fordyce Forum 2010, including Jenifer Lambert, Dave Staats, Tom Keoughan, Rick Rush, Fernando Espinosa.

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  • 1. Recruiters: How to Get More Business in a Down Economy Learn how to connect better with your buyers and build critical relationships and credibility that will lead to more business.Part 1 of a three-part series.By John Vlastelica and Jenifer Lambert

2. Page 1Recruiters: How to GetMore Business in aDown EconomyLearn how to connect better with your buyers andbuild critical relationships and credibility that will leadto more business.By John Vlastelica and Jenifer Lambert Insights Into the Buy-SideFirst, we dont need to tell you that its rough out there. Companies aredownsizing or staying flat and HR and Hiring Managers are busy, oftentrying to do more with less. Growing even maintaining business inthis economy isnt easy. In this three part series of articles, well focuson What you need to know about your buyers mind-set to getbusiness in this kind of market How you should engage with corporate recruiters and HRmanagers so that youre top of mind when theyre ready tohire an outside recruiter How to address the misperception that companies dont needyou now How do you address thisI understand that you would like to fill this position on your own. common perception held by Corporate HR and Hiring In this market, I have no doubt youll get a lot of response to your Managers?posting. However, I have a candidate who wont be respondingto your posting because shes not actively looking for work. Many of the resumes Im Shes currently employed and succeeding where shes at. She is getting from recruiters areworking through me on a confidential basis to be kept aware of unemployed, active job seekers. I can find those people on myopportunities that could be the next step in her career. Id like to own. Why pay a fee? have you speak with her as a comparison to the candidates yousurface on your own. If you find a stronger candidate, theresno harm done. You only pay a fee if you decide that shes theright choice for this role. Are you willing to have an exploratoryconversation with her on that basis? D i c e 4 1 0 1 N W U r b a n d a l e D r. Urbandale, IA 50322 w w w. d i c e . c o m 1 . 8 7 7 . 3 8 6 . 3 3 2 3 3. Page 2 Best Practices for Developing Opportunity & Demonstrating Value Good news! Companies are still hiring. Thousands of new jobs arebeing posted each week. But to convert these opportunities into closedbusiness, you need to be savvy about uncovering the opportunities anddemonstrating how and where you add real value. 1. Leverage technology. Set up job search agents on your job boards and on your target clients corporate career sites to learn Instead of asking for the about new openings. Watch for jobs that have been posted exclusive search, offer a for more than 30 days. Its quite possible that your client may really strong candidate as ahave hit a wall with their own efforts and they will be muchcomparison to their internally more receptive to your offer of assistance. Also watch for roles that were posted, then taken down, and then reposted weeks orgenerated candidates.months later. The company may have frozen hiring temporarily, and therefore lost internal sourcing momentum. The fact that theyve reopened a job may tell you that its a critical opening (or a bad hire was made); the HR team may need significant, immediate help to generate candidates. 2. Be prepared to audition. When responding to a posted position, you must 1) do something to differentiate yourself from every other recruiter who saw the same posting and 2) overcome a general reluctance your buyer may have to see candidates from an outside recruiter. Do this: Instead of asking for the exclusive search, offer a really strong candidate as a comparison to their internally generated candidates. 3. Put a game changer on the field. Look beyond just chasing open requisitions and use high-value candidates to create Talk about the niche candidateopenings. For any company, in any economy, there are some sites you use, the personal candidates they simply cant afford not to hire. Ask a hiringnetworks youve developed over manager: What direct competitors do you want to target? Are there key people that you know by name that you havent the years and your success at been able to successfully land in the past? Describe the type of pulling passive candidates outcandidate who could make a huge difference in your business.of top companies.Once you know what type of talent this hiring manager will find irresistible, have recruiting conversations with these candidates. If theyre open to making a move, you make the introduction and reap the rewards. 4. Show your sourcing expertise. No one wants to pay you to post their job on a job board, and route them screened candidates; they can do that on their own. Give your clients insights into your sourcing expertise and tools in your toolbox. Talk about the niche candidate sites you use, the personal networks youve developed over the years, your success at pulling passive candidates out of top companies, and the speed at which D i c e 4 1 0 1 N W U r b a n d a l e D r. Urbandale, IA 50322 you can develop a quality slate of candidates. w w w. d i c e . c o m 1 . 8 7 7 . 3 8 6 . 3 3 2 3 4. Page 3 5. Strategically approach fee objections. In general, you never want to reduce your fee. But, if were realistic, we know that sometimes we must (especially to get into the door with new clients in this economy). If you decide to offer a lower fee, dont do it from a position of weakness. Instead, acknowledge their budget issues, and let them know that youre willing to temporarily work for a reduced fee during this first search (the audition period). But dont just give it away. Negotiate something in return, like some money up front, faster payment terms, or a testimonial that you can use in your marketing materials upon placement. And, when you go to invoice them, show right on the invoice your regular rate first, then the special discount, and then the final fee. Remind them that theyre getting a special, temporary deal (it can also make them look like a cost cutter with the finance organization).About the Authors:John Vlastelica is a former Corporate Recruiting Director withAmazon.com and Managing Director of Recruiting Toolbox, Inc., aconsulting and training firm focused on helping corporate recruitersand hiring managers recruit better.www.RecruitingToolbox.com Jenifer Lambert is a VP with Terra Staffing Group, a Pinnacle Societyrecognized Executive Recruiter, and President of Elevate PerformanceSystems, LLC, a consulting and training firm that helps third party D i c e 4 1 0 1 N W U r b a n d a l e D r. recruiters grow their business. Urbandale, IA 50322www.ElevatePerformanceSystems.com w w w. d i c e . c o m 1 . 8 7 7 . 3 8 6 . 3 3 2 3 5. Recruiters: How to Get More Business in a Down Economy (Part 2) Learn how to connect better with your buyers and build critical relationships and credibility that will lead to more business.Part 2 of a three-part series.By John Vlastelica and Jenifer Lambert 6. Page 1Recruiters: How to GetMore Business in aDown Economy (Part 2)Learn how to connect better with your buyers andbuild critical relationships and credibility that will leadto more business.By John Vlastelica and Jenifer LambertIn the first article, we talked about how to get around the perceptionby some HR managers that they dont need to pay a fee for talent inthis type of economy. Now, in Part 2, well share best practices fordemonstrating your expertise as a recruiter, building trust with yourbuyers and getting more business. Its silly to me that these recruiters who claim to be expertsHow do you address thisat sourcing are cold calling me, with no research into whatcommon frustration by our company does, who I am, or what kind of people we need.Corporate HR and Hiring They just start selling. Their lack of research and listeningManagers? skills are a real turnoff. Best Practices for Demonstrating Expertise, Building Trust andGetting Business As you pitch me your recruiting Just like a candidates initial interview forms a first impression witha hiring manager, your initial contact with a potential buyer of yourservices, Im thinking, Wouldservices is a demonstration of your competence as a recruiter. If theI want to work with this person value you promise to your client is based on your ability to source high-caliber talent and artfully persuade them to consider a career move, thisif I were a top candidate? and is an opportunity to demonstrate that skill. Quite simply the researchDo I want this person workingyou did, your understanding of that prospective clients business andneeds, and your tone and approach on the phone are an audition.on our behalf, representing ourfirms opportunities?Unfortunately, many recruiters respond to a tough market by treatingtheir client development as a numbers game. The thinking goes like this:if I just make more calls, Ill eventually stumble upon the few who arehiring. The problem with this approach is that to increase the volume ofcalls, recruiters forego any sort of thought or pre-planning going intothe call. When your potential buyer feels like a number you can forget D i c e 4 1 0 1 N W U r b a n d a l e D r. about winning their business. The best recruiters use intel to accelerate Urbandale, IA 50322the sales process. w w w. d i c e . c o m 1 . 8 0 0 . 9 7 9 . D I C E ( 3 4 2 3 ) 7. Page 21. People first. Companies dont buy anything. People do. And people who work in companies would prefer to do business with people they like and trust. Obviously, you are going to do some research to understand the company. Go one step further and use social networking tools, general web searches and your personalHiring managers are beingconnections to do some preliminary research on your target decisionbombarded with cold calls from maker. Here are some factors to consider when approaching this hiring manager:hungry recruiters. Research iskey to warming up an otherwise What does she emphasize in her own background?Technical competence, leadership skills, educationalcold call.background, the social impact of her work? Understandingwhat she emphasizes may give you insights into what shevalues most in a candidate. What does her past employment and career progressiontell you about her? Does she come from big, more stablemultinational organizations or small high-tech startups? Beyond title, what is the scope of her role and size ofher department/function at the company? How doesher role fit into the organizations primary goals? Is herdepartment/function likely to be impacted by recent companyannouncements? Does she likely hire for many different typesof people, or just one primary profile (i.e. Test Engineers orProgram Managers)? Does she hire in multiple locations? What professional organizations does she belong to? Do wehave people or groups in common?Armed with this information youll be able to make a better, warmerPersonal networking andconnection with her when you call, better understand the business context for any needs she may have, and get a jump start on herwork history can give youcandidate preferences.great insights into common2. Get referred. While most recruiters understand that referralsconnections you may have withare the lifeblood of their recruiting efforts (we have no problemyour target buyer. asking for candidate referrals), many fail to leverage the power of referrals when it comes to developing new business. What works for accessing hidden talent is equally effective at opening doors with hiring managers. All of the people with whom you interact (placed candidates, active candidates, existing clients, colleagues, etc.) are potential referral sources. You just have to ask.As you are researching the hiring manager (see #1), you will uncover information about her that you can use to make credible connections to other people in your network. Use personal networking to uncover groups to whom your target is already connected: Industry user groups Business networks Academic, professional, company and alumni associations Service, social and philanthropic organizations The best referral is a personal introduction. So, asking someone you know to introduce you to the Hiring Manager is obviously your best bet. Short of that, simply dropping a mutual connections name is likely to get your call returned. Its a good idea to check in with your referral source before using their name since your prospect may D i c e 4 1 0 1 N W U r b a n d a l e D r.check in with them first before calling you back. Urbandale, IA 50322 w w w. d i c e . c o m 1 . 8 0 0 . 9 7 9 . D I C E ( 3 4 2 3 ) 8. Page 3 3. Fish in a stocked pond with a baited hook. In what other profession do potential buyers advertise their intent to buy? Think about it employers who are hiring often make it known publicly through job postings and other forms of advertisement. You can cut out a lot of unproductive cold calls by calling companies you knowRecruiting is a great vocation.are hiring.In what other profession do Average recruiters approach the hiring manager with an obviouspotential buyers advertise their question: Would you like some help recruiting for this opening?intent to buy? and they get an obvious answer: No. Instead, approach the hiring manager with an informed opinion of the market (heres what Im hearing from my clients in this market) and a solution in the form of a candidate that you believe is qualified for this position. Heres the formula: A. Identify the need: I see that you are currently recruiting for an XYZ position.B. Diffuse the objection: I assume you are getting a lot of response to that advertisement.C. Create differentiation: I wanted to connect with you because XYZ searches are one of my areas of specialization.D. Demonstrate your market insight: My clients are telling me that theyre getting more quantity than quality in this market and that the high performers they need are still hard to find and recruit.E. Provide a solution: Thats when they call me. I am working with several very strong XYZ candidates that I thought you may be interested in hearing about as a comparison to the response youre getting on your own. 4. Let your candidate open the door to new target companies. Candidates with specific knowledge of a particular market or industry are not only valuable to your client but also to you. The best recruiters leverage the power of a well-connected candidate to get referred, create opportunity and to provide inside information that builds your credibility.Enlist your candidate in helping you create a target list of companies. Based on your knowledge of this industry, you must know companies where you can make an immediate impact or bring some strategic value. Have him articulate specifics about what he knows about each of the companies on his list and why he thinks he would be a good hire for that company. This helps you deliver a credible presentation to your target hiring manager a...