Recruiters who experience consistent split placement success are effective communicators. They make it a priority to set expectations with their recruitment partner and document the details. If you’d like to incorporate splits, here are some of the topics you need to communicate, preferably before submitting any candidates for consideration:Money
If you are the job-side recruiter, your partner needs to know the salary/compensation package, the fee (and how it is calculated), and what your refund/guarantee terms are. If you have a money-back guarantee with your client, your partner *must* be advised of this, especially if you would expect the partner to refund their portion of the fee in the event of a fall-off. If it’s a large fee, it might be smart to discuss putting it into an escrow account until the guarantee period is satisfied, since large refunds can wreak havoc on a small firm’s cash flow. If you have agreed to any sort of limitation on candidate “ownership” with your client, that needs to be disclosed to your partner before submitting any of their candidates. You’ll also want to share the payment terms that you have agreed to with your client and when your partner can expect to be paid. In our network, the expectation is “immediate” payment, defined as the end of the next business day. If either partner is in a network or other organization that collects brokerage, make sure that is discussed as well. Of course, if you are considering a cross-border deal, you’ll also need to discuss things like which currency is being used, which payment method to use, and who is responsible for paying bank fees. There may be tax implications for one or both partners, advertising costs, and more. Always, always, always document the financial arrangements clearly and in writing. It saves so much misery if the deal goes sideways down the road.
Division of Work
NPAworldwide members are accustomed to the job-side candidate, who works directly with the employer, being the “driver” of all placement activity. Your arrangements may be different, but this is another key component to split placement success. Here, you’ll want to discuss things like who will be the responsible party for specific tasks, who is speaking with the client, timelines, and other specifics related to how the role will get filled. It’s also a good time to discuss thornier subjects like what happens if the client contacts the candidate-side recruiter in the future? Or whether a split-fee is due if the candidate refers additional potential candidates to the job-side recruiter. Reconfirm the “must-have” qualifications and any updates or changes that have come from the client, including whether any internal candidates are in the mix. The candidate-side recruiter should know when to expect feedback and ideally should know who the client is once an interview has been arranged.
Work Style
Sometimes, two recruiters just don’t have operating styles that complement each other. Try to establish that early in the process. If one partner relies on telephone communication, and one only likes email, that can potentially create conflicts. One person may expect a lot of feedback while the other is more of a “no news is good news” sharer. If you can’t find common ground in the ways you work together, you’ll both end up frustrated or perhaps worse. I know several recruiters who are friends but not split partners, because their business styles just do not align in ways that lead to split placement success. Good people, good recruiters, and good business owners … just wildly different approaches.
Clear, effective communication is a key to so many relationships. To avoid disputes, commit to ongoing communication with your partner, and don’t avoid hard conversations. You’ll build strong, long-term partnerships and share split placement success.
The post Effective Communication for Split Placement Success appeared first on NPAworldwide.