Agency leadership, Industry news & market intelligence, Managing recruiters
Many recruitment leaders are still measuring consultants’ performance based on billings and ignoring more valid metrics, according an industry advisor.
“Billing benchmarks don’t really tell you a lot, it’s really activity benchmarks that lead to making a placement that are most valuable,” says Navigator Consulting MD Tony Hall.
Billing results are difficult to compare across businesses because they involve too many variables, he says. “It depends on margin, it depends on what type of market you’re in, it depends on perm versus temp versus contract, it depends on geographies.”
Instead, he has devised an ‘activity success formula’ that takes into account client visits, interviews and jobs, and works “over and over again”. It’s based on the activity of top-performing consultants, as reported by 100 recruitment leaders.
“We have hard research on what the best consultants do in terms of the number of client visits per week, how many interviews they do, how many CVs they send out, and then how many placements they make and at what average placement rate. And that’s extremely valuable information.”
New development program
Hall is presenting the activity ratio next week at a new development program aimed at consultants, which will run alongside Navigator’s popular Captain’s Table leadership forum.
The monthly Consultant’s Table forum draws on 20 years of research, and will feature guest speakers and cover “high-level research and issues” that are specific to consultants, to help them to “increase their productivity, performance and enjoyment of the job of being a recruiter”.
The inaugural event showcases the attributes of high-performing consultants, which include persistence, resilience, attention to detail, achievement drive, “and a relentless focus on providing outstanding client and candidate service”, Hall says.
“If consultants have these attributes, they will be successful. Consultants that don’t utilise these attributes will always struggle.”
The program is open to recruitment leaders as well as their consultants, and is designed to help consultants find what’s missing in their practice, he says.