We are only filling 30% of our direct orders and 40% of the contracts we’re writing.
We specialize in IT, and I know it’s next to impossible to find the talent our clients are demanding. My team is saying they can’t work harder or do more, but I hesitate to hire and add to my overhead which will reduce my profits. When is it best to hire? Do you think I should wait or hire now?
Marcia H., Ft. Lauderdale, FL
If you hire right, your new hire should be a revenue generator within a relatively short period of time, not add to your overhead. Think of all the money that is left on the table when you consider all the orders and contracts that are not being filled?
If it was easy to find talent, you would not be in business. When it’s hard to find talent that is great for our profession, and your team which needs to consistently find new resources to identify IT talent.
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Have your team conduct a review every Friday as a group. Ask these three questions:
- What did I do right? — (The 20% that gave your team 80% of their results – do more of these actions next week.)
- How did I waste time? — (Stop doing those actions immediately, i.e. talking to candidates they will never place, taking incoming calls vs. making outgoing calls.)
- What new idea will I implement next week to improve my results? — (Consistently change actions in order to get better results.)
When your team stops doing things that waste their time, they can each put 60-90 minutes back in their day.
If you decide to hire, recruit someone with sales experience who has a history of high achievement. This is the profile of a person who has the potential of becoming a top producer for your company.