Let’s assume you are working on 5 assignments that are $2,000, and when you close all of them, you have $10,000 ($2,000 x 5) in sales.
Many headhunters in Singapore and consultants have asked me this VERY IMPORTANT question, and one of the strategies I have shown them in order to DOUBLE their sales is this:
Make your contract value DOUBLE,and you will be able to see your sales DOUBLE. This method is so easy but many people fail to see the advantage of how it works.
You see, if you are working on a $2,000 case and charge the client a $2,000 professional fee when the candidate is successfully hired, can you do a $4,000 case where you can charge at least $4,000 for the deal when it is successful? Sometimes you can charge even 1.5 times the $4,000 salary when you meet a client that is agreeable with this rate. From that you can get $6,000 as a professional fee and guess what? You have not just doubled your sales for the deal, but instead tripled the amount.
If you were to focus on a $4,000 value – assuming you still have 5 cases, will your potential sales be $20,000 or more? You bet it will!
Let’s get to the details:
Are you taking the same amount of time to get the client assignment?
Are you taking the same amount of time to post advertisements and generate potential candidates?
Are you taking the same amount of time to interview the potential candidates?
Are you taking the same amount of time to coordinate the interview?
I think you get my point; the answer is that you take almost the same amount of time to give a $2000 value and a $4000 value! Some may argue that the number of $4,000 assignments will be fewer. Well, the fact is that there is the same number of assignments in the $4,000 category level as compared to the $2,000 category level.
The secret is that you will have to find them. They are out there, and if you are good enough, the assignment will be yours.
This simple, yet effective, strategy not only applies to a recruitment agency, it can also be applied in many other trades or industries too. I have a friend who was in financial insurance seven years ago, and his take-home commission was about $1,500 per month. After I shared this simple strategy with him, his earnings went up to $3,000 per month within the next two months. Now he has set up a company by himself with the good income he had generated previously, and is already the CEO of a big training institution.
My friend, you can double your income when you choose to do so. Cheers, and be happy always. Dougles Chan, The Recruitment Guru