The Profitable Recruiter – Become a Superstar Biller
What does a 200k pa biller do differently to a 100k pa biller?
I’m often asked to work with Consultants who want to up-level their billings and move from being a solid 100k biller to a superstar biller at 200k plus.
In this blog, I’m going to share the key ways that consultants can make this transition quickly just by tweaking a couple of their current processes. I’ve seen recruiters jump that billing mark again and again using these techniques and if you or your team members want to take it up a level, these are the steps to make it happen.
1.Recognise where the money is
Your history can predict your future and if you want to work smarter, you need to know what actions give you the biggest return in the shortest time period. Your tracked historical data will supply you with all the information you need to find your ‘sweet spot’. Pareto’s law states that 80% of your income will come from 20% of your effort. So the first step is to work out what 20% of your actions, roles, candidates are giving you 80% return. Look back on your placements for the last 6-12 months and identify where your sweet spot is. You WILL find a trend. Once you’ve found it, concentrate 80% of your time on these activities, roles and candidates.
2.Money is infinite but time isn’t
We all have exactly the same amount of time in a day, week month and year. It’s what you do with your time that’s important. The most successful recruiters I work with have mastered the art of managing their time and are smart with filling it with money making activities and not ‘fillers’. Investing your time only in activities which generate results can literally gift you back over 10 hours a week. You do NOT need to work double the hours to double your billing – in fact that is totally counter intuitive. Concentrate on the tasks and activities that generate a return by completing point 1 and you will become a master of time and not a slave to it.
3. All jobs are not equal
So why invest the same if not more time in them? One of my clients conducted an audit on their jobs across 24 Consultants Desks and graded each job by a ‘Fillability’ score of A,B and C. They worked out that they filled 80% plus of their A Grade roles and under 15% of their C grade roles. Then they mapped their consultants activity against the jobs and astoundingly found that their consultants were spending over 85% of their time on C grade jobs which were abundant but nearly unfillable. Within 2 months, the teams billing INCREASED by £144,000 as they ditched the abundant but useless C jobs and increased the winning and filling of A grade jobs. No longer were the team ‘busy fools’, they became lean machines working less roles for more return. This small tweak made a huge difference and it just takes a bit of focus and understanding to make this move.
4. An Inch Wide, A Mile Deep
If you’re able to work out your sweet spots from point 1, then you’re able to niche really quickly and effortlessly. As my American coach says ‘there’s riches in them there niches’ and she sure isn’t wrong! Becoming a master and expert in 1 area ALWAYS increases billings. You just need to get over the ‘more is more’ mindset and the moment you dig deep into one area, your recruitment desk will take off. There are so many positives in making this move I can’t possibly mention them all here. But that’s not the reason that people don’t niche – many recruiters see that move as being too risky and that they might miss out on something if they truly niche. Making that mindset shift must be the first thing you do – from ‘more is more’ to ‘less is more’.
5. Higher Fees
There is no doubt that big billers charge higher fees. They don’t compete with fees they compete with value and find a fee which works for them and which works for the client. If the value the client receives is higher than the price you are charging, it’s a win win situation. The key to this is not only knowing your value but also articulating it to the client. This is a great skill to learn and master and the moment you do, you will be achieving fees of 3% uplift on your current fees. But the important part of increasing fees is firstly to work on your own beliefs. If you don’t feel you’re worth the uplift, then no other person will!
I hope you’ve enjoyed this blog, and if you or your team member would like more information on how to become more profitable, check out our online learning course ‘The Profitable Recruiter’ here: