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Selling and Closing: An Executive Approach to Making Things Happen
 

Selling and Closing: An Executive Approach to Making Things Happen

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Rob Dromgoole's presentation from the ERE Expo Spring 2010.

Rob Dromgoole's presentation from the ERE Expo Spring 2010.

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    Selling and Closing: An Executive Approach to Making Things Happen Selling and Closing: An Executive Approach to Making Things Happen Presentation Transcript

    • Selling & Closing An Executive Approach to Makings Things Happen by Rob Dromgoole 1
    • Presentation guidelines from ERE   Subject has to be recruiting related …   Be entertaining ….   Be informative ….   Not too strategic …   Get tactical, more meat …   Provide some takeaways   Please complete surveys 2
    • Who the heck is this guy anyway?   U.S. Army photojournalist ~ 5 years   High-tech retained search ~3 years   Internet start up ~2 years   Big bank ~3 years   National lab ~6 years   Bachelors Univ. Washington   MBA Washington State   Passion for recruiting as a profession! 3
    • 4
    • Recruiting and the Exaflood   1 billion gigabytes = 1 exabyte   1 EB = 50,000 years of DVD quality video   Dec. 08 monthly internet traffic was 5-8 exabytes   In June 09 Cisco forecasted 18 exabytes per month by 2013   DI predicts a 50-fold growth rate in Internet traffic through 2015 …. (54% CAGR) “The Internet is not an isolated phenomenon, but rather a part of the general Information and Communication Technologies (ICT) revolution. Data traffic growth is related to a variety of other growth rates, such as the famed Moore's Law for semiconductors.” – Minnesota Internet Traffic Studies (MINTS) 5
    • 6
    • What does 54% CAGR look like? Internet Traffic 25 20 15 10 5 0 2008 2009 2010 2011 2012 2013 2014 2015 7
    • Sourcing is dying ……. the deniers will say   More data exacerbates the problem   Haystack is only larger   Find people easy … right people hard   Existing social media isn’t deep enough   Job boards didn’t kill recruiting   Sifting is just too difficult   It’s a multi-billion $ industry   What’s the reality? 8
    • 9
    • Information Visualization Examples 10
    • So how do we add value?   Ensure compliance   Manage the funnel   Coach & advise on policies   Post jobs   Write offer letters   Conduct background checks   Schedule interviews   Generate interview agenda   Get proper approvals   Train managers on process 11
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    • Reasons why recruiters avoid the phone …   Fear of engagement   Lack of confidence   Afraid of failure   Worried about what others think vs. results   Get caught up in busy work   Too much e-mail   Lost in the exaflood   I don’t have time …   Don’t know their industry/company   Don’t understand the job 14
    • Correct your self-perception   I+A=M   Build a network of recruiters   Become an expert in your field   Know your industry & company   Build a Lou Adler performance profile   Be ready to overcome common objections   Be ready to help close deals   Take a formal sales training course 15
    • Learn about your company & industry   What is your company’s strategic plan for the next 3,5,10 years?   What’s your organization’s position in the market?   Hiring manager’s background?   What’s your company story?   Have you read the annual report?   Have you read the 10k?   What’s your organization’s history?   Who are your organization’s leaders?   Why do you work there?   Do you believe in your company? 16
    • Build a Performance Profile www.adlerconcepts.com   Get your search committee to agree what a candidate must do to be successful Traditional Performance Profile - Ph.D. Physics - Advance research in radiation - 5-7 Years experience detection -  Industry knowledge -  Increase funding with DOE NE - Strong interpersonal skills client base -  HpGE experience -  Actively publish in leading physics journals -  Increase performance of HpGE equipment 17
    • Make time to get on the phone   I+A=M   Set a specific time for cold calls “Batching”   Set a hard number of dials goal   Have contact information pre-collected   Do not look at e-mail   Close your office door   No clients and no drive bys   1-hour 3 times per week 18
    • Your prospect answers!!!! www.adlerconcepts.com   Generating interest/establish rapport “Hi, my name is ____ with ____. Your name has been mentioned to me on a confidential basis, as someone I should contact on a search effort I am leading for a top ____. Would you be open to exploring a new career opportunity if it was clearly superior to what you are doing today?” “Great. Let me just ask you a few questions about your background, and then I’ll give you quick overview of the opportunity.”   Have a script and be confident (you are an expert)   Be vague at first   Get them to provide a quick profile   Stay in control of the conversation 19
    • Common objections www.adlerconcepts.com   First, talk about the position you’re referring to ….   Resist temptation to provide your pitch   Stay in control   Let prospect talk first – you can align your pitch appropriately   You are developing rapport!   Do not take first no, no means I need more information   Try to get the prospect to reconsider their position 20
    • Common objections www.adlerconcepts.com   I’m happy where I’m at …. “Understand, however, 95% of people who I contact like this are at least open to exploring a situation. What about your role is so compelling that you would not even consider evaluating something different?” “Your background is interesting. I would like to consider you for this role, or perhaps something like it in the future? I’m consistently involved in searching for top talent in ____, I would like to be in a position to call you about something over the next 6 – 9 months. Would you be open to that? “Since you’re not interested in the opportunity, let me tell you a little about it anyway. This is a high-impact role with a great organization, and someone you know might find this job a good match.”   Keep them talking … at least get referrals 21
    • Common objections www.adlerconcepts.com   I’m too busy to talk …. “Understand, can I have just 2 minutes to provide an overview and 2 minutes to explain the job? “Would you have time later today to discuss the opportunity on an exploratory basis only?”   Schedule appointment = 70% increase in honoring time   If you ‘close upon a concern’ and they still won’t talk, it’s something else   Create a job stretch   Persist, usually it’s a ‘not interested’ objection 22
    • Common objections www.adlerconcepts.com   What’s the compensation? “Before I address that, I would like you to think about the best jobs you have ever held, those that gave you the most personal satisfaction. Were the reasons they were the best jobs due to the money you were earning or due to the impact you were having at your organization?” “If the opportunity I am contacting you about offered you a chance to maximize your impact and person satisfaction, plus offered competitive compensation, wouldn’t it make sense to at least discuss it for 5-10 minutes?”   Do not provide an immediate answer   Most people leave for other reasons (usually a boss)   If you buy someone, there’s always another headhunter call 23
    • Common objections www.adlerconcepts.com   The role isn’t big enough. “If it turns out the job is bigger than imagined, or if it can be made bigger, would you at least be open to discuss it further?” “Is it okay if I ask you a few questions about your background to better understand the scope, span of control, and complexity of the positions you have held?”   Try to dig into prospect’s background   Determine if opportunity is larger than what prospect thinks   Perhaps the role can be expanded? 24
    • Common objections www.adlerconcepts.com   I don’t like the company/lab/university …. “What about our organization prevents you from ever considering a role here?” “If I could demonstrate that you would play a key role in developing our reputation in this space, would you consider making a move? “If our organization can demonstrate that your concerns, while true in the past, have been rectified, would you be open to explore an opportunity with our lab if the position were offering was clearly better than your own?”   Have you had some bad press or PR lately?   Offset any negative beliefs   Prove your case 25
    • Common objections www.adlerconcepts.com   I’m pretty far down the path with a few other companies. “Great, but let me ask you this: if the opportunity I’m representing is better than what you are now considering, wouldn’t it make sense to at least compare the two?   If they have offers in this market—they’re good, don’t let them get away.   Position your role as the one with more ‘stretch’   Get information about deadlines etc. 26
    • Common objections www.adlerconcepts.com   I can’t relocate …. “For a great career opportunity would you ever consider relocation?” “If the job were local, would you have a potential interest?”   Accept as fact but engage anyway   You cannot overcome this in 1 call, could take months   Imply job might be bigger for right candidate   Network and develop rapport   Call later and say a key leader wants to ‘just talk’ about role 27
    • 28
    • Negotiating compensation www.adlerconcepts.com   Gather detailed comp data up front “What are some key factors that you consider when you evaluating new opportunities?” “What is your current level of compensation? Base? Bonus? Stock? Vesting? Expected W2? Increase history? Expected increase?”   Pre-closing prep “What do you consider a fair offer? “Why do you think a compensation package of that level is justifiable? “I’m not sure we can get to the level, but if we could, when would you be in a position to start?” 29
    • Negotiating compensation www.adlerconcepts.com   Trying to uncover their minimum “I’m not sure we can get to that level. While I can’t guarantee anything, knowing what you know about the job, what is the absolute minimum offer you’d be willing to accept? Just so I’m perfectly clear, you are telling me that if we can’t get to the $______ level, you are not interested in pursuing this position? “A few of the other candidates we’re also considering are making about 10-15% less than you are now, and they’re more open to the range we discussed. So you’re a little on the high side, given the current market.” “Do you feel this job offers a significant growth opportunity for you? … If so, then the real value in the job for you is how much you’ll be able to grow. Your compensation needs seem high given where you are now, and what you’ll be learning. Have I missed something in this? In my opinion, it’s best not to shoot for the maximum compensation you can possibly get. This frequently is the cause of some ill-will and creates unnecessary tension when you start. It’s better to get a fair increase initially, and then prove yourself once on the job. While I can’t guarantee anything, would you be open to at least consider this, if we could arrange some type of added performance bonus or early salary review?” 30
    • Delivering offers www.adlerconcepts.com   Rule #1: NEVER DELIVER A FORMAL OFFER UNTIL IT HAS BEEN 100% ACCEPTED   Test the offer & test it again   Agreement = safe to deliver formal letter “Based on what you now know about the opportunity, is this something you would be interested in pursuing?” “Based on what you now know about the opportunity, is this a role you would be willing to accept if an offer was fair?” “It seems you’re reluctant to move forward. This is a surprise given all the interviews and effort involved so far both on your part and others in the company. Something about the job must still be bothering you. Would you mind talking about it?” 31
    • Delivering offers www.adlerconcepts.com   Validate candidate concerns “If we could address the issue you discussed, which I’m not sure we can, but if we could, would you then agree to (schedule the next interview, speak with the hiring manager, start by a certain date)?”   Hesitation? “It seems there is something else bothering you that we haven’t addressed. Most people are willing to move forward if their primary concerns are resolved. Since you are still not comfortable accepting an offer, I assume there is another issue we haven’t talked about. Can you tell me what’s going on?” 32
    • Delivering offers www.adlerconcepts.com   Evasive? “Would you be willing to discuss these issues with the hiring manager (or the hiring manager’s superior)? Would you be willing to talk about the issues if I could get you additional information?”   You uncover the problem “I understand and appreciate why this is a problem. I’m not sure we can address it, but I think it’s worth trying. Everyone feels you are a strong candidate, and I’m sure (hiring manager) is willing to see what we can do. Just so I’m perfectly clear, if we could address your concern about ____ you would then accept the offer? “If we can get the offer approved in the next couple days, when could you provide your formal acceptance? If we get the offer to you later today, could you give us a formal acceptance in the next 24 hours?   No offer until they accept …. 33
    • Special Team Exercise Assume You are Bringing in a Fully Vetted Top Candidate You Desperately Want To Close For Serious Discussion with the Firm’s COO and Key Team members List the top 5-10 things that you could do [poorly] to ensure that the Candidate will never return or consider a position with the firm again. 34
    • Findings from exercise #2 …. -  Wrong name/company - No structured agenda -  Poor coordination - Flat line after interview -  No attention to candidate - Over talking manager -  Bad interviews/interview no show - Insensitive timing -  Compensation surprises - Back door references -  Bait N’ Switch - Diversity considerations -  Unprofessional Experience - Confidentiality breaches -  Lack of Spousal Involvement -  Geography considerations In general, consensus reached that much more time, care and feeding Needs to be dedicated for C-level talent. (limos, gift baskets, wine & dine) 35
    • QUESTIONS? 36