Innovative Ideas to Move Your Staffing Business Forward, Part 2
If you missed our first batch of ideas, be sure to catch up on our previous blog. If you’re ready for more, let’s dive in!
Idea #5 – Interview the competition: do you know about them what they know about you?
To uncover every opportunity, it’s essential to do the simple things that are often overlooked. Be investigative in every conversation to learn something new about what others are doing, and to secure conversations with the people and companies you want to do business with!
Are you running into the same competition over and over? How are they differentiating themselves—in the market and against you? It’s important to gain insight and see if what you’re doing is keeping pace with and setting you above what others are doing in your space. Simply asking questions about where you could be doing something new or better can reveal a wealth of opportunities for you explore. Know your competition, and to whom/why/how they’re selling—this will help you evolve your plan of action to stay ahead.
Idea #6 – Script your top five objections on both the sales and the recruiting side of the business, along with your best responses to each.
Have you heard of managing objections with LAER (Listen, Acknowledge, Explore, Respond)? When you listen effectively and acknowledge a client’s concerns by repeating them in your own words, you can then better understand their operating reality and respond effectively (and in a way in which they are more likely to listen in return).
Also, know objections will happen—you just have to hone in on what you can manage. Common objections many hear in this industry include, “your bill rate’s too high” or “your markup’s too high.” In these instances, your LAER response might begin with, “I appreciate the fact that you want to get the lowest bill rate possible [NOTE: these are your Listen and Acknowledge pieces], but are we talking about bill rate or effective bill rate?”
In these instances, you want to pose the concern back to the customer and Explore what they know about effective bill rate (i.e. are they monetizing effectively?). The way you Respond can spark a conversation that leads to you moving them toward better profitability, and solving problems that weren’t even on their radar yet.
Idea #7 – Keep tools simple. Remember that execution is basic blocking and tackling.
It’s crucial to master the fundamentals in staffing and execute on them every day. They do not change, regardless of the company size or industry you’re in. Ultimately, you must have human connections and conversations that build trust with people – whether it’s with clients or talent. So, as you’re mapping your next steps for growth and applying innovations and new tools, be sure you never neglect the fundamentals of talking to people and incorporating that human touch that’s crucial in staffing.
Idea #8 – Develop a simple process for qualifying candidates.
Consider a process like PLACED (People, Location, Achievement, Challenge/Career, Earnings, Dependability). By focusing on these six clear areas of opportunity, recruiters have a structured, repeatable methodology to uncover a potential talent and their needs. This process teaches your recruiters to listen and ask effective questions! Processes like this are the key to scaling your organization. Again, minimize any variation in your processes and you’ll see quality increase.
Keep the ideas flowing! Check out part 3 of this series for another batch of innovative ideas!
Source: “28 Rapid-Fire Ideas to Rock Your Staffing Business,” 2018 SIA Executive Forum North America. Ideas presented by panelists: Mike Jacoutot, Founder & Managing Partner, Butler Street; Eric Jaquith, Director of Talent Acquisition, CDI Corp.; Chris Martin, SVP, Randstad Technologies.