Going it alone as an independent recruiter can be one of the most liberating steps you will take. I know because I did it.
Before RecruitLoop, I’d been running my own successful HR and Recruitment business for 15 years – all while being a single parent and returning to University to achieve a long-held goal of a Psychology Honours degree. And I couldn’t have been happier.
And even though I now have an operational role at RecruitLoop, I still keep my finger on the independent recruiting pulse to make sure I don’t lose touch.
But knowing what to charge for your services can be tricky.
We’ve written about this topic previously. You want to be competitive but at the same time you want to be appropriately rewarded for your time, expertise and the candidate networks you’ve spent years building and maintaining.
And how are you going to charge? A percentage of the candidate’s salary on a contingency basis, a flat fee or an hourly rate?
I’ve used all three fee structures, depending upon what my client’s needs were and how important a continuing relationship with that client is to my business. But for the last few years, I’ve only been charging an hourly rate on a ‘fee-for-service’ basis. That is, I bill and get paid for every hour I work, regardless of whether a placement is made or not. The same way that a lawyer or accountant does.
It’s all be part of our mission to ensure that recruitment is seen as a professional service.
But what I do and say isn’t the last word on success! Your business is ‘your business’ and the most important thing is that you are comfortable and confident of what your offering will be.
In the first episode of our webinar series, we explored how to get your head and your desk sorted to make sure you are well positioned to generate a 6-figure income stream.
In this episode, we’ll be talking about how to decide what is the best fee structure for you as an independent recruiter.
In particular we’ll show you:
- How to place a value on your time and expertise;
- How to factor in your operating costs;
- How to understand the value others expect; and
- How to ensure your fees are competitive without being “cheap”.
Click here to register for the webinar.
If you can’t make either time, we’ll send you an email with the recording and the slides as long as you register.
Hope to see you there!