Classic Closes for 2021
–An Eight-Part Series–
February 23rd, 2021
Classic Closes for 2021
If I, Will You?
The point with this close was brought home to me by Robocruiter who once told me that he didn’t mind cutting fees so much (although he hardly ever did that), it was just that he did mind very much getting nothing in return.
So, you say to the HM, “If I cut my fee to 25%, will you give me a decision after each of my candidates is interviewed within 24 hours?” Or, “If I agree to 25%, will you agree to interview everyone I present without a resume since I will be recruiting candidates who are happy, well-appreciated, making good money and currently working and normally will not have a resume?”
In other words, if you give something, you need to get something. It needs to be fair. It needs to be equitable.
Reduce to The Ridiculous
This close is for money problems and is based on an amortization table.
Let’s take a fee problem.
The fee the HM wants to pay is 25% and let’s say your candidate makes $60,000 so that is a $15,000 fee. At a normal fee of 30%, the fee is 18,000. So, we have a $3,000 problem.
This is what we say to the HM, “You know Mr. HM, the difference in our fee amounts is $3,000. But let’s think of that $3,000 in a little different way. If you take the $3,000 and amortize it over one ‘work’ year (2.080 ‘work’ hours), you get $1.44 per hour.
Now, how long do your employees normally stay with you?” The HM says 4 years. So, you continue, “4 years is pretty much the industry average. So, let’s take the $1.44 and divide it by 4 and you get 36¢ per hour. Is it worth it to you to not have a candidate of this caliber on board with your company for 36¢?”
Hence the title of the close, “Reduce to the Ridiculous”.
Next week: Part Eight – The Takeaway
I send my best,
Bob Marshall began his recruiting career in 1980 when he joined MR Reno, NV. In 1986 he founded The Bob Marshall Group, International, training recruiters across the nation as well as in the United Kingdom, Malta and Cyprus. In 2021, Bob celebrates his 41st year in recruitment and continues to offer his proven training systems throughout the US and in selected international territories. To learn more about his activities and descriptions of his products and services, contact him directly @ 770-898-5550; email@example.com; or visit his website @ www.TheMarshallPlan.org.