***This page is exclusively for employers and business owners looking to save time and money on their recruiting efforts!***
Finding, evaluating, and placing the best candidate for a job is an art that professional recruiters hone through years of interaction with candidates and feedback from clients. Recruiters will post jobs, review possibly hundreds of resumes from job applicants, proactively source huge numbers of additional passive candidates, prescreen, and schedule phone and in-person interviews. Then they'll narrow down the best candidates through the hiring process until the right one accepts an offer.
Some employers can take for granted the nuanced, time-consuming, and extensive work that goes into matching the best candidate for the right job. Not to mention keeping both sides excited about that potential fit.
The question you should be asking yourself is not, "how much will it cost me to fill this role?" The question you should be asking yourself is "how much will it continue to cost me to either not fill this role at all, or fill it with the wrong person?" Chances are the answer to the latter question is that it is likely a heck of a lot more than even the most expensive recruiting fee; whether it's more money or more time that could be better spent elsewhere.
To illustrate, think of the result of filling a sales position quickly rather than leaving it unfilled for three months. That's three months' worth of customers and prospects that can be upsold, retained, or retargeted, which has a lasting impact. So whether it's the super-obvious loss of pipeline from an unfilled sales position, an executive, or a line-level employee, the opportunity cost of losing that time and productivity can ripple through a business for months or even years.
HR managers should also know that their time is extremely valuable. When high-priority hires get dropped in their lap, it often means putting important internal initiatives on hold. According to a Society for Human Resource study, the average time-to-fill a position is 36 days, however, 25% of jobs take 45 days or more to fill. If the role must be filled by the internal team, that's about a month of pushing out deadlines for other projects, providing frequent updates to senior management, and - more than likely - a much higher stress level than they probably want.
That's where I come in! I help by outsourcing administration work associated with hiring and recruitment, and I ensure that you only see the most qualified candidates by weeding out the unqualified ones.
My Fees
In the spirit of full transparency, here is an overview of both of my flat fee recruitment service options so you can decide what works best for your company. I offer a Full-Cycle Retainer model (pay for milestones) or an Hourly/Day Rate model.
Full-Cycle Retainer model: Pay for Milestones
By definition, a "retainer" is a fee paid in advance to someone in order to secure or keep their services when required. This means a set of conditions, or milestones, for when the payments are released. This requires a high level of commitment as I am being hired and paid as an outside extension of your internal team. A retainer model can cost 25-50% less than a contingency model (15-25% of the employee's first-year salary paid only when hired), you just have to invest a little bit up-front. In this type of arrangement, recruiters are more thorough and thoughtful in the process of finding the right candidate meaning my focus will always be on quality and finding the best match for the position.
For this model, I offer a 30-day guarantee, meaning that if the new hire quits within their first 30-days, I will replace them one time at no additional charge.
This model is best suited for:
- When you need a full-cycle recruitment service.
- When you don't have/need an in-house recruiter or want extra help with some specific roles.
- When you want to assure quality and get someone working with you more personally than a contingency recruiter (only pay the full fee after the hire is placed)
- When you don't have multiple recruiters/agencies working on the same position (you'll give exclusivity only to me).
- When the position you're looking for has a more complicated remuneration package and it's difficult to set a contingency fee (ex: executives and salespeople).
My retainer fee schedule is split into 3 payments:
- 20% in advance to get started (due upon signing the Recruiter Agreement)
- 30% for the shortlist (Top 3) (due 7 days after receipt)
- 50% for a successful hire (due by the new hire's first day of employment)
My flat fee is calculated based on the level of the position and their potential 1st-year annual salary:
- Line Positions: $5,000
- $1,000/$1,500/$2,500
- These are rank-and-file positions that are the backbone of your company.
- Specialty Positions: $8,000
- $1,600/$2,400/$4,000
- These are hard-to-fill or competitive positions in industries that require specialized searches. Examples include IT, market research, chemistry, and similarly difficult searches.
- Management Positions: $12,000
- $2,400/$3,600/$6,000
- These are supervisory and middle management positions up to Senior Managers and Directors.
- Executive Positions: $25,000
- $5,000/$7,500/$12,500
- Executives include Senior Vice Presidents and C-Suite.
Hourly or Daily Rate Model:
I make myself open to discussion for this model because I like having a committed relationship with my clients. You may not need full-cycle recruiting services and may only need help with certain administrative tasks, even if the only thing you need is some help doing interviews for a few weeks, help with creating a recruitment strategy, or doing hands-on sourcing. It can be 10 hours or 50 hours per month, you decide. You have a lot more options with this model and can work within whatever your budget will allow.
This model is best suited for:
- When you need help with a very specific task (ex: only sourcing or pre-screening or improving employer branding).
- When you have multiple similar roles to fill or plan to work with the recruiter long(er)-term.
- When you don't have/need an in-house recruiter and have no real recruitment process set up.
- When the estimated contingency fee seems too high for your budget.
- When you're still figuring out the specifics of the role you're looking for and need a recruiter to support you in every step of the recruiting process.
My rates are:
- Hourly: $75
- Daily (8 hours): $500
- Weekly (5 days, 8 hours per day) $2,000
- Monthly Retainer: $5,000
Think you might want to get started?
Fill out the "Contact Us" box in the upper right corner of this page with your name, email address, best phone number, company, and the type of position you are needing help filling. I'll personally reach out to set up a free 30-minute consultation to discuss your recruiting requirements and how we can get the highly-qualified employees you need without high recruiter fees, haggling, or hassle.
No comments:
Post a Comment