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Retained-Like Services on a Contingency Basis

Retained-Like Services on a Contingency Basis

The James Allen Companies has established a reputation of quality and integrity within the insurance industry and has done so by presenting companies with highly qualified professionals quickly and effectively. In our constant efforts to provide exceptional service, we explored the search solutions of several competitors and were surprised to discover that while we also offer outstanding retained and contained services, our contingency offerings were much more aligned with the level of service many firms identify as retained. We quickly realized that we offer retained-like services but on a contingency basis. Unfortunately, this has somewhat unfairly placed us in the same space as other contingency firms that offer a diluted product, so we set out to create a summation of what retained service looks like and how the contingency search of The James Allen Companies is more closely associated with retained searches, in terms of quality and dedication.

 

The most identifiable difference between our contingency services and the retained offerings of other firms is the fee structure. Whereas traditional retained services not only typically charge a higher fee, they also require a portion of that fee (usually one-third) upfront to engage the service and another portion (another third) of the fee at a set point within the process. Before a candidate is even placed, most retained options will have charged a client nearly 70 percent of the total fee. Our contingency option requires no initial commitment fee, and a charge is only incurred upon successful completion of the search. Aside from differences in fee system, we outlined five of the leading value propositions of retained firms and addressed how we at The James Allen Companies provide these same values on a contingency basis.

 

  1. Exclusivity
    Many retained firms will attest to the fact that the candidates they source for you are not shopped to other clients. We approach the search process with the same exclusivity, seeking the best candidates for specific opportunities.
  2. Timeliness
    We approach each job order with the expediency and dedication required to locate and attract the most talented professionals. Our contingency model actually serves as a motivating factor to exceed our clients’ needs and expectations.
  3. Passive Candidates
    A common implication of retained search is that this service is the only way to connect with top candidates who aren’t actively looking for an opportunity. We rarely work with active candidates, focusing primarily on the passive talent that stands to best serve our clients.
  4. Expertise
    We bring real and relevant insurance and staffing experience to each search. With a deep history in the industry, we truly understand what companies need in order to succeed and we know how to deliver on those needs.
  5. Guarantee
    Retained firms will often toss around the assurance of a guarantee to solidify the superiority of their services; however, The James Allen Companies is committed to the success of the candidates we place, which is why we too offer a guarantee on our placements.

 

If you are currently exploring the services of an insurance-specific recruiting firm, we challenge you to contact us and discover how we can provide the same level of service on a contingency basis. Perhaps you have had past experience with the contingency options of firms that reflect a less knowledgeable approach that lacks the dedication and resources your organization needs to find the best talent. What we believe you will find, however, at The James Allen Companies is that we believe in always providing our clients with exceptional solutions that are designed to place top professionals that meet their technical and cultural needs, regardless of the label associated with the search option they choose.

Are You Ready for a Market that Favors Job Candidates?

Are You Ready for a Market that Favors Job Candidates?

It’s a job seeker’s market, especially if you need to hire skilled, specific labor. If you haven’t adjusted your interview practices since the crash of 2008, you could be missing out on the best new talent in years.

Here are a few things you should consider when it comes to addressing, understanding and treating candidates in a good job market to land the big fish you need.

Understand the Market Realities

Minimum wage bumps have helped low-wage workers see their pay rise, while high earners continue to thrive as more of the competition (typically boomers) retire. It’s in the middle where things get a little tricky.

Men working in the middle-income space are starting to do better, but most of their gains are still focused on reaching pre-recession levels. Women are performing better than they were before the recession. Overall families are doing better.

Economists estimate $70,000 is what a family of four requires to adequately meet their needs in most places in the U.S. With lowering rates of unemployment, salary becomes the primary focus for many job seekers. This can translate to paying top dollar for highly-qualified candidates.

You can find a detailed analysis of what the job market means for different earners here.

Try to Get 75% of What You Want

Today’s employees want room to grow their careers, and that means opportunities for growth within your company. If you’re hiring candidates who have everything you need and want, they may feel stifled and unable to develop professionally within their roles.

By seeking someone who has most of what you want and the potential to learn the rest, you’re able to find a hungry employee that sees you as their career partner for years to come.

Growth and development matter and is often an overlooked, non-monetary incentive. When you’re discussing this with potential hires, showcase the potential for growth as a benefit.

Learn How to Translate What Candidates Ask For

Today’s job-seekers aren’t shy. They’re willing to ask for what they want, but it isn’t always said in standard business language so you might need to do some translation. Here are four “wants” we often hear from candidates and how you can translate them in your interviews and offers.

  1. I want to better myself: The employee will make choices focusing on personal development goals, such as learning a new skill or obtaining a new degree/qualification. You can highlight CE credits, financial support or ongoing learning opportunities you provide.
  2. I want to develop my skills: This is a little different because it signals an intent to grow through skills related directly to their job. It signifies a desire to grow within a role or unit, so discuss that possibility instead of a management track.
  3. I want to expand my career: This is where the management track comes into play. Discuss what you look for in people today who will be leaders tomorrow, plus make note of training or opportunities you provide to help people grow into that development role.
  4. I want work to be a challenge: Some people thrive in challenging environments, not only learning new tasks but also taking risks with new products and services. They do, however, run the risk of becoming bored. If you’re looking to expand into new realms, showcase these opportunities to candidates who want to be tested.

Make a Desirable Offer

You deserve to hear the plain truth: most offers we see fail just aren’t good enough. They tend to barely provide a lateral move, skimp on the benefits and don’t showcase the intrinsic value of the company.

The hard truth is that you’re most likely going to be interviewing talented people who already have jobs. Unemployment continues to decline, especially for skilled professionals, so your offer needs to be able to lure them away from their present company.

The good news is that you can ask what a candidate is looking for and consider what you can offer. Do they want flexible time or prefer to start (and end) the day a little later? Do they need certain benefits or want to make sure you’ll give them an afternoon off for their kid’s graduation in the spring?

All of the elements we’ve looked at before are necessary for a strong offer. Discuss what makes you unique, the flexibility you can offer, benefits, equality issues, room for growth and anything else that you would want to hear if you were on the other side of the table.