Press Coverage
How to be hired in a difficult market
RECRUITMENT International - 2002-08-01
How to be hired in a difficult market
Whether you believe we're in a period of minor stock-market re-adjustment, "recessionette" as someone said recently, or on the verge of a. Great Bear decline, you can't argue that changing jobs in our industry is tougher than it has been for several years.
Recruitment firms are certainly hiring -most have never stopped - but they are hiring to improve, not just to increase headcount. They won't risk bringing someone on board who can't cover their costs. This not only adds uneccessary overheads at a time when they can least afford to do so, but brings the danger of diluting the commission opportunities available to existing staff who have to share their business. The company risks losing revenue as well as increasing costs.
Talk to your Boss before jumping ship.
If you are feeling undervalued at the moment or you think that your career path is on hold, then, dare I say, (at the risk of losing my own revenue here), your first step should be to talk to your Boss. it could be that your management assumes you know of their commitment to you but the pressure of hitting budget has prevented them from reassuring you of this recently. You could be making a mistake by thinking that the grass is greener outside. Talk to them about your concerns before you make any decisions. In this climate no one can afford to lose good sales people so you're in a strong negotiating position.
'This is what I can do for your business" instead of "what can you do for me?"
If this isn't right for you and you want to change jobs, then you will find a great demand for good Consultants and Managers who can add value to a new organisation. However, there are plenty of consultants looking for jobs and hiring managers tend to be cynical. The days when recruiters could just walk into new jobs and bigger packages are over, hopefully along with the hire and fire mentality that has dogged our industry.
You can't just be good, you need to prove it. Market yourself properly and demonstrate your worth to a new organisation. If you have been made redundant, you'll really have to get your sales proposition right as you have a big objection to overcome. Relying on what you billed in 2000 to get another job certainly won't impress (in fact it really irritates).
A more sophisticated approach is required. Calculating what you are going to bill in the future is as crucial as proving past performance. Candidates are expected to demonstrate how they are going to cover their costs in the early weeks of employment and how their intend to build their business in the first six months, year, even two years.
Don't kid yourself
So, before you start interviewing, you need to do thorough analysis of where your successes have come from in the past and how these can be repeated
1. First, look at what you are best at. What do you enjoying doing the most in your job - this is usually your strongest area. (Hopefully this will be in a high demand skill like revenue generating, business development or negotiation.) Find examples that prove where you exceeded expectation. What is your main area of technical expertise and which sectors do you understand best? Look at where you have been praised in performance reviews and identify your specialism. Now you know how you should sell yourself -and what you should sell yourself as in order to differentiate yourself from everyone else on the market.
2. The flip side of this is to be aware of your weaknesses. For instance, If you have tried to start a marketing recruitment division a couple of times and have failed at it, there is just no point in looking for a job doing the same thing, in the same way. (Believe me, people do). Be honest with yourself and look at how your skills could transfer to a different sector, such as finance, which might be more forgiving. Similarly, if you are just no good at business development then it is better to acknowledge this and find a job where you can leverage warm relationships brilliantly, then pretend to be something you are not.
3. Now look at the environment you are leaving. Is it a smaller, entrepreneurial company or a large firm with established processes? If you are used to creating business and generating your own candidates you will find it easier to build a successful desk elsewhere than if you have relied on the support of a large corporate. If you are in the latter, then don't expect to bill the some amount if you move to a smaller firm with a lesser brand. if you demand a salary package based on previous revenue then 'you are in for a rude shock when you don't hit target. What sort of management suits you? Again, be ruthlessly honest with yourself. How well have you done because of, or despite the business you are in now? Have you been relying on those PSLs? What will you do if faced with a blank desk on Day One?
4. Examine your business relationships. These are what you will be judged on. What level are your contacts at? Has revenue increased since you took over the account? What percentage of the clients business do you get? Most importantly, how much business have they got to give you over the coming months so that you can estimate how much you con bill if you move. You need real figures: Company A generally gives 6 mandates a year, say you get two of them, that's £40,000 total, company B has 5, and so on. Plan your revenue stream. And are you sure these clients will follow you and what are your restrictive covenants? Is it appropriate to discuss a move with them? What is their opinion of the reputation of the organisations you might move to? Do you have any unusual fee arrangements and will new organisations allow you to work at this level? (And make sure that if you are relying on named clients to achieve targets that you will be allowed to deal with them in a new firm).
5. Now examine how you will deliver the business. If you advertise vacancies what budget will you need - make sure this is agreed before you join a new organisation. Organisations all resource in different ways and candidate flow varies so don't assume that you will have the same research support or database. Identify exactly where your candidates have come from in the past and what support you need to fill requirements when you move. If your cost of sale is high than of course this reduces the profit you create.
A valuable exercise
Researching your past performance and predicting future revenue in this way will enable you to market yourself as a credible business person who can add value to an organisation, not just another salesperson. Potential employers can see how their initial investment will be recouped and this removes their risk. If gives you a choice of organisations who will develop your career. if you negotiate your package based on this information I'll do £X, you pay me £Y you can be confident that you will meet expectations.
