Fordyce	  Forum	  June	  2012-­‐	  Handout	  for	  Jordan	  Rayboy	  –	  Building	  &	  Managing	  Virtual	  Teams	  CEO/R...
Admin/Researcher	  roles/responsibilities:	         -   order	  office	  supplies-­‐	  for	  self	  then	  give	  us	  exp...
Position: Project CoordinatorRole: Source, Recruit, and qualify candidates for search assignmentsAccountabilities   1. Sou...
o Achieve 2 first time interviews a week       o Beginning in second month, in order to continue receiving advance against...
•   Detail/Follow Up Work              o Appropriately match qualified candidates to open assignments for possible PoeJo  ...
AE/PC	  Compensation	  Plan:	  	       5.1 You	   will	   be	   compensated	   based	   on	   your	   level	   of	   invol...
Admin/Researcher	  Compensation	  Plan:	  	  -­‐base	  salary	  (typically	  give	  5%	  raise	  per	  year	  on	  anniver...
Incentivizing	  Performance	         ¡ Rock	  Star	  Trip-­‐	  $250k	  AE,	  $500k	  PC,	  25%	  office	  contribution	  ...
Good	  ideas	  when	  building	  your	  virtual	  search	  firm	  Investing	  in	  our	  people	  and	  our	  business-­‐	...
Recruiting:	  Leveraging	  recyclability	  and	  dominating	  your	  niche	  Client	  &	  Candidate	  testimonials	  Worki...
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Building and Managing Virtual Teams Handout

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Handout from the Fordyce Forum 2012, presented by Jordan Rayboy.

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Building and Managing Virtual Teams Handout

  1. 1. Fordyce  Forum  June  2012-­‐  Handout  for  Jordan  Rayboy  –  Building  &  Managing  Virtual  Teams  CEO/Rainmaker’s  roles/responsibilities:  Recruiting:  -­‐Bring  in  the  work  (get  JO’s)  -­‐  qualify  hard,  decide  which  work  to  focus  on  -­‐Air  traffic  control-­‐  manage  process  from  a  high  level-­‐  identify  &  overcome  obstacles  -­‐Recruit  on  leadership  searches  -­‐Manage  and  develop  client  relationships  -­‐Engage  w/  lead  candidates  in  final  stages  -­‐Close  deals  Leadership:  -­‐Determine  firm’s  vision,  branding,  and  image  to  the  marketplace  -­‐Set  the  strategy,  and  delegate  responsibilities-­‐  including  daily  goals/plan  -­‐Set  expectations  and  hold  people  accountable-­‐  manage  by  the  metrics    -­‐Hiring  &  Firing,  as  well  as  performance  management  -­‐Coaching,  mentoring,  ongoing  training  &  course  correction  -­‐Motivate  and  inspire-­‐  set  the  pace,  and  lead  by  example  VP  of  Operations-­‐  roles/responsibilities:  #1  priority-­‐  Keep  Rainmaker  focused  on  revenue  production!!!  -­‐Rule  w/  anything  financial-­‐  Money  into  the  account-­‐  Rainmaker;  Money  going  out-­‐  VP-­‐Ops.  -­‐Payroll-­‐  salaries,  commissions,  bonuses  -­‐Banking-­‐  bill  pay,  expenses    -­‐Taxes/Book-­‐keeping/Accounting  -­‐Insurance-­‐  Health,  E&O,  General  Liability,  Life,  DI  -­‐Pension/Retirement  Plans/Erisa  Bonds  -­‐Vendor  Management-­‐  ATS,  Phones,  Internet,  Website,  Wine  Manage  our  lives-­‐  anything  personally  that  would  distract  Rainmaker  from  revenue  production  
  2. 2. Admin/Researcher  roles/responsibilities:   - order  office  supplies-­‐  for  self  then  give  us  expense  bill   - activity  tracking  including:   o job  orders-­‐  job  orders  with  activity   o sendouts-­‐  FTSO,  2nd,  etc.   o first  time  interviews   o fee  agreements  sent  out-­‐     o connect  time  (phone  time)   o #  of  CDS-­‐  could  track  this  if  we  are  still  doing  and  reward  most  new  candidates   - track  all  of  the  numbers  for  the  year-­‐  billings,  cash  in,  activity   o ratios,  yearly  goals,  attainment  towards  goals  (RPM  system)   - keep  an  up  to  date  AR  sheet-­‐  gets  $100  bonus  per  invoice  paid  on  time  or  before   o make  collection  calls  on  overdue  payments-­‐  follow  up  before  due  to  get  bonus   - keep  up  to  date  employee  information   - set  up  all  new  employees     o make  up  offer  package  (offer  letter,  non-­‐compete,  MBO  program,  etc.)   o pcr,    any  accts  needed  (i.e.  Website,  database)   - update  hotsheet  daily  and  weekly  point  sheet  and  account  receivables   - invoice  all  bills  (bills  and  retainers)   - keep  track  of  all  incentive  plans  and  achievement  towards  those  plans   o rewards   o monthly  bonus,  etc.   o commissions   - update  resumes  in  database   - keep  track  of  resumes  sent  out  to  clients   o make  backdoor  calls  on  all  sent  out  candidates   - put  together  fee  agreements   - enter  weekly  numbers  into  RPM  beginning  of  every  week   - manage  database  (PCR)  and    handle  any  technical  issues   - keep  track  of  all  cashin  and  placements   o figure  out  owed  commission  for  AE’s   o keep  rankings  sheet   - send  out  emails   o confirmations,  resumes,  mass  emails   - keep  time  of  who  was  in  or  out  of  the  office  for  payroll-­‐  no   - check  mail  and  deposit  any  cashin  checks  into  business  bank  acct   - send  all  of  jr/jeskas  mail  every  couple  weeks   - keep  paperwork  together  for  accountant,  drop  off  to  accountant  every  couple  weeks   - send  out  bottles  of  wine  for  hires  made-­‐  to  clients  and  candidates   - manage  website-­‐  keep  all  opportunities  up  to  date   - internet  researching   o search  on  all  positions  where  help  is  needed  (linked  in,  monster)   o help  make  rollups  for  ae/pc  plan  on  new  position   o manage  all  mass  emails-­‐  send  them  out,  manage  responses  for  ae/pc   o do  any  additional  research  needed  on  hand  for  pc/ae    
  3. 3. Position: Project CoordinatorRole: Source, Recruit, and qualify candidates for search assignmentsAccountabilities 1. Sourcing: Maintain and build candidate networks within assigned desk specialty, expand name-gathering skills, conduct company/industry research. 2. Recruiting: Meet telephone time requirements, make presentations to candidates, complete candidate data sheets, build trust with candidates, develop awareness of different project needs, generate/build network. 3. Qualifying Candidates: Maintain quality control, achieve QC/sendout goals, qualify salary requirements, pre-close and close candidates and hiring authorities, assist w/ prepping/debriefing. 4. Placements/Revenue: Participate in goal and objective setting to meet cash-in objectives. 5. Administrative Duties: Complete data entry, complete activity reporting, provide AA all necessary documents/materials in a timely mannerPosition Expectations: • Target Cash-in: o TBD based on individual annual goals • Minimum Benchmarks for advancement: o Must make minimum 1 placement as PC and 1 placement as PD (running hiring process) before promotion to AE/Business DevelopmentRole: • Source,  recruit,  and  qualify  candidates  for  search  assignments • Prepare Write-ups to present candidates • To arrange, prepare, and debrief candidates for interviews with clients as directed by AE • Manage candidate relationships • Administrative Duties • Daily PlanningAccountabilities: • To obtain a productive amount of search activity to find qualified candidates to maximize placements made on office billing opportunities o Attempt, at a minimum 80 search calls throughout the day o Achieve at a minimum, 20 recruit presentations per day on a particular career opportunity o Achieve at a minimum, 4 hours of telephone connect time throughout the day conducting search calls o Achieve 4 new CDS’s per day and 20 new CDS’s a week o Achieve 4 CDS’s (POEJOable candidates) conversations a week
  4. 4. o Achieve 2 first time interviews a week o Beginning in second month, in order to continue receiving advance against commissions in the following month, a minimum of 75% blended average of monthly activity expectations must be achieved (Example: Monthly expectations- 80 CDS’s, 16 POEJO, 8 first time interviews/ Minimum Requirement to continue receiving advance- 60 CDS’s, 12 POEJO, 6 first time interviews)• To professionally plan for a productive day of business at the end of each business day o Develop a call rollup list on PCR that will give 100 potential contact opportunities per day o Develop and write Competent, Confident and Candidate focused search call presentations o Ensure that candidates are followed up with in a time appropriate manner• Consistently demonstrate the skills necessary for superior performance o Demonstrate ability to ask good questions to uncover candidate needs, qualifications, and motivations o Demonstrate ability to fill out entire CDS/Candidate Profile o Demonstrate candidate assessment skills to accurately evaluate the placement potential of each candidate o Demonstrate the ability to assess the amount of time that should be spent with each candidate o Demonstrate the ability to recruit using the indirect recruit call approach o Demonstrate the ability to recruit using the direct recruit call approach o Demonstrate the ability to present client companies and career opportunities using the FAB technique o Demonstrate the ability to prove a candidate’s quality to a AE/PD o Demonstrate the ability to be able to prepare and deliver reference check presentations o Demonstrate the ability to handle common forms of call resistance professionally• To demonstrate team leadership characteristics throughout day o Assist AE in assessing the appropriate target market for sourcing candidates for a given client o Ability to manage multiple search projects at once o Ensure that candidate information flows up to AE/PD in timely fashion o Help members of the team develop personally and professionally o Be involved with internal hiring process as necessary o Demonstrate that you live and work to the RayboyIS core values- trust, professionalism, and results. o Demonstrate the ability to adapt to change and deal with adversity with a positive attitude o Consistently demonstrate that you are always looking for ways to improve production and quality of our service o Actively present new industry trend observations to the team
  5. 5. • Detail/Follow Up Work o Appropriately match qualified candidates to open assignments for possible PoeJo send outs o Communicate with AE/PD to troubleshoot potential problems early in a search process o Ensure that all candidate resumes are passed in a timely fashion to AA for database entry o Ensure that database is properly managed to achieve maximum call efficiency o Ensure that proper contact information is saved in correct fields for every candidate you contact/speak with- correct those that are not accurate o Ensure that EVERY candidate entered into database is added to the correct rollup list(s) that corresponds to their F.I.L.L. o Ensure that all candidate correspondence is sent out in a timely fashion o Be proactive in one’s own training and development o Ensure that activities for every call are marked in database o Ensure that daily activity form letter is completed every day and submitted to AA by COB or by 8am EST the following morning o Ensure that AA is copied/Bcc’ed on ALL resumes submitted to clientsI, ______________________, have read, understand, and agree to the responsibilities,expectations and accountabilities of my position at RayboyIS._____________________________ _________Name Date_____________________________ _________Jordan Rayboy DateFounder/CEO                          
  6. 6. AE/PC  Compensation  Plan:     5.1 You   will   be   compensated   based   on   your   level   of   involvement   with   different   stages   of   the   placement   process.   You   will   receive   25%   of   net   cash-­‐in   for   taking   a   job   order/search   assignment   from   a   client,   10%   of   net   cash-­‐in   for   managing   a   hiring   process/running   a   deal   (activities   including  presentation  of  candidate  to  client,  interview  prepping/debriefing,  closing  of  deal  w/   involvement  of  CEO),  10%  of  net  cash-­‐in  for  recruiting  and  qualifying  candidates  on  the  search   assignment,  and  5%  for  candidate  ownership.  This  will  total  a  maximum  commission  rate  on  any   deal   of   50%.   You   will   be   compensated   after   the   expiration   of   ten   (10)   business   days   following   receipt  by  Company  of  the  net  cash  in.  You  will  be  responsible  for  any  replacement  Candidate  or   refund   of   net   cash   in   associated   with   the   guarantee   provided   to   the   Client   on   contracts   generated  by  you  and/or  candidates  recruited  and  placed  by  you.             5.2 Search  Consultants  will  be  able  to  reach  commission  accelerators  upon  achieving  specific  cash-­‐in   levels  within  a  calendar  year  as  follows:     -­‐Cash  in  of  $0-­‐$100,000        =  50%  commission   -­‐Cash  in  of  $100,001-­‐$200,000          =  52.5%  commission   -­‐Cash  in  of  $200,001+        =  55%  commission       Commission  rate  recycles  to  50%  at  beginning  of  each  calendar  year.   5.3 Candidate   Ownership   is   worth   5%   of   net   cash-­‐in   on   any   placement   involving   the   candidate.   Ownership   of   candidate   is   established   by   fulfilling   two   requirements:   1-­‐taking   a   complete   Candidate  Data  Sheet/CDS  by  filling  out/saving  a  profile  for  the  candidate  in  PCR;  2-­‐Obtaining  a   Resume   from   the   candidate.   Each   requirement   is   worth   2.5%   of   cash-­‐in,   and   can   be   earned   individually   or   jointly.   These   two   commissions   can   be   split   amongst   two   consultants   if   one   completed  CDS  and  the  other   obtained   candidate’s   resume.   However,   if   candidate   is   sourced   by   internet  researcher,  the  researcher  will  get  entire  5%.  If  internet  researcher  sources  a  Job  Order   lead  for  a  new  client,  the  researcher  will  receive  10%  of  cash-­‐in  to  be  paid  by  Search  Consultant.   If  internet  researcher  sources  a  Job  Order  lead  for  an  existing  client,  the  researcher  will  receive   5%  of  cash-­‐in  to  be  paid  by  Search  Consultant.     5.4 This   is   a   100%   commission   position   and   there   is   no   base   compensation.   A   $2,000   monthly   advance   against   future   commissions   earned   will   be   paid   by   Company.   The   first   month   is   non-­‐ recoverable,  and  all  future  months  are  recoverable.  Maximum  advance  at  any  given  time  will  be   $6,000.  Any  additional  advance  will  be  at  discretion  of  Company.     5.5 Activity  Bonus:  You  will  be  paid  a  $25  bonus  for  each  first  time  face  to  face  interview  that  you   arrange   or   that   is   arranged   with   a   candidate   that   you   sourced.   If   two   contractors   combine   to   arrange   an   interview,   this   bonus   will   be   split   50/50   between   them.   You   will   be   paid   a   $50   bonus   for  each  new  JO  you  get  w/  a  new  client  (new  fee  agreement  put  in  place).  You  must  get  activity   on   new   JO   to   qualify   for   bonus.   You   will   get   a   $25   bonus   for   each   new   JO   you   get   w/   an   existing   client   (fee   agreement   that   YOU   already   had   in   place).   You   must   get   activity   on   new   JO   to   qualify   for  bonus.  Activity  bonuses  will  be  paid  monthly.    
  7. 7. Admin/Researcher  Compensation  Plan:    -­‐base  salary  (typically  give  5%  raise  per  year  on  anniversary  date)  -­‐1%  of  all  cash-­‐in  -­‐additional  4%  on  all  placed  candidates  she  originally  sourced  (paid  2%  from  PC,  2%  from  AE)  -­‐additional  4%  on  all  placed  JO’s  where  she  originally  sourced  JO  lead  -­‐$100  bonus  on  every  invoice  paid  by  due  date  -­‐FTSO  bonus-­‐  split  w/  PC  on  each  sourced  candidate  that  gets  in  process      Metrics   ¡ Dream-­‐  what  do  they  want  to  have,  be,  or  do   ¡ Develop  PIG  (personal  income  goal)  –  pre  &  post-­‐tax   ¡ Based  on  commission  %  and  ratios,  determine  billings,  avg.  fee,  #  of  placements,  down  to  #  FTI’s   &  POEJO’s  necessary  per  day/week   ¡ Example  for  PC-­‐  W2  goal=  $100k.  20%  commission  requires  $500k  billings.  $25k  avg  fee  =  20   placements.  10:1  FTI:PL  ratio  =  200  FTI/50  weeks  =  4  FTI/week  required.  2  POEJO:FTI  ratio  =  8   POEJO’s/wk.      JO  Fulfillment  Process     ¡ Focus  on  niche  JO’s  that  leverage  Recyclability   ¡ Planning-­‐  PC  builds  rollup  list  and  writes  mass  email   ¡ If  necessary,  Researcher  sources  additional  target  candidates  (LI,  boards,  etc.)   ¡ Day  1-­‐  Researcher  sends  mass,  handle  responses   ¡ Planning-­‐  PC  reviews  responses,  stack  ranks   ¡ Day  2-­‐  PC  calls  best  prospective  candidates   ¡ Usually  presenting  candidates  within  48-­‐72  hours      Communication  with  your  Team   ¡ Intraday  3-­‐way  calls,  IM/Email,  Video  Chat  (Oovoo)   ¡ Daily  morning  meeting-­‐  group   ¡ Daily  afternoon  wrap-­‐up-­‐  individual   ¡ Weekly  metrics  meeting-­‐  individual   ¡ Weekly  training  sessions-­‐  group   ¡ Quarterly  reviews-­‐  individual   ¡ Annual  gatherings-­‐  group  
  8. 8. Incentivizing  Performance   ¡ Rock  Star  Trip-­‐  $250k  AE,  $500k  PC,  25%  office  contribution    for  researcher   ¡ Weekly  contest-­‐  $25  for  top  blended  (FTI/FTSO/POEJO)  %  attainment  (must  be  over   100%,  must  beat  me!)   ¡ Quarterly  contest-­‐  $100  for  top  %  attainment  of  billing  goal  (must  be  over  100%)   ¡ Activity  Bonuses-­‐  $25  FTI,  $50  JO  (new  client),  $25  JO  (existing  client),  need  1st  act   ¡ $100  for  admin  for  invoices  paid  on  time    Contact  Info  for  PR  &  Marketing  Communications/Branding/CEO    Ron Magas- President, Magas Media Consultants, LLC22 Hawley Lane, Monroe, CT 06468Office (203) 445-8981 Mobile (203) 685-8082 Fax (203) 445-8978 rmagas@charter.netDarren McDougal | Managing Partner, Marketing Communicationsdmcdougal@kbic.com | direct 972.265.5365Kaye/Bassman & Next Level Marketing Communications19111 North Dallas Parkway | Suite 200 | Dallas, TX 75287main 972.931.5242 | www.nlmarcom.com | LinkedIn profile  Technology-­‐  Mobility  &  Low  Overhead  Prioritized        -­‐Phones/Internet-­‐  Verizon  wireless  cell  phones  ($80  unlimited  +  $30  data)  &  air-­‐cards  ($50)  -­‐I-­‐phones  for  whole  team-­‐  so  we  can  face-­‐time  as  well.  Buy  the  best  Bluetooth!  -­‐ATS-­‐  PCR  ASP  model  -­‐Laptop/Mini-­‐Netbook  (Lenovo  x120e  -­‐11.6”-­‐  under  2lbs,  under  $400)  -­‐Printer/Scanner/Fax  Machine  w/  EFax  ($180/yr.)  -­‐RPM  Metrics  Tracking  Software  -­‐Could  consider  VOIP  phone  system  w/  call  accounting  software  integrated  into  ATS  
  9. 9. Good  ideas  when  building  your  virtual  search  firm  Investing  in  our  people  and  our  business-­‐  Pinnacle  Society,  Fordyce  Forum,  Lefkowitz  E-­‐sourcing  Essentials  Research  Training,  PR,  SEO,  Coaching  &  Consulting  (Millionaire  Mind)  Regus  Suites-­‐  permanent  or  mobile  office  location.  Can  use  as  temporary  meeting  space  for  interviews,  trainings,  client  meetings,  virtual  admin  (can  answer  phones)  Going  hard  certain  times  of  year  and  easing  back/delegating  certain  times  of  year-­‐  LIVING!  Accountability  Groups-­‐  keeps  you  accountable  to  someone,  bounce  ideas  off  of,  connection  w/  other  recruiters  that  you  miss  not  being  in  an  office.  Also,  they  can  help  manage  your  people  and  overcome  obstacles  when  you  are  out  of  range.    Leveraging  time  zones  to  your  advantage-­‐  what  time  zones  you  and  team  work  vs.  where  you  are  located  Training  recruiters  face  to  face  before  sending  off  to  be  virtual  Sending  recruiters  to  a  professional  training  company  to  learn  foundational  skills  before  you  train  them  on  specifics  of  your  industry  &  FILL  Methodology  Having  multiple  virtual  team  members  in  a  single  location  Hiring  virtual  PC’s  vs.  AE’s  Always  being  available  to  your  people,  even  when  on  vacation  Empowering  your  people,  and  encouraging  them  to  be  proactive  Eat  what  you  kill-­‐  Incentivizing  people  based  on  performance,  proactivity,  and  sense  of  urgency    Nurturing  a  company  culture  where  if  one  person  is  successful,  everyone  is  successful  Having  backup  plans  &  technologies  to  keep  you  in  business  when  things  go  awry.    Unlimited  vacation  policy  (just  get  your  sh*t  done  J  )  Encouraging  your  team  that  you  want  them  to  make  as  much  money  as  possible,  including  giving  them  a  few  layups.  CANI-­‐  investing  in  yourself-­‐  personal  development  Hiring  Family/Friends-­‐  that  we  trust  implicitly  One  admin/researcher  combo  vs.  two  separate  roles  Wifey  as  VP  of  Ops  vs.  PC  GONG!!!  You  like  apples?    
  10. 10. Recruiting:  Leveraging  recyclability  and  dominating  your  niche  Client  &  Candidate  testimonials  Working  to  develop  numerous  key  accounts-­‐  multiple  searches  w/  same  companies/managers  Working  with  smaller  to  mid-­‐size  clients  vs.  larger  clients    Learning  Experiences     -­‐ Paying  big  base  salaries/guarantees   -­‐ Hiring  lazy  people  that  lacked  work  ethic   -­‐ Hiring  people  with  negative/poor  attitudes  that  bring  down  the  rest  of  team     -­‐ Hiring  people  who  don’t  have  positive  and  sustainable  work  environment   -­‐ Allowing  poor  performance  to  go  unchecked  for  too  long   -­‐ Not  setting  expectations  and  holding  people  accountable  from  the  beginning   -­‐ Expanding  too  fast  –just  cause  you  can  produce  enough  JO’s  to  keep  them  busy  doesn’t   mean  you  have  enough  time  to  manage/coach/mentor  them  all     -­‐ Constantly  fishing  for  them,  making  them  too  dependent  on  you   -­‐ Setting  up  a  schedule  that’s  unsustainable  (530am  PT  meeting)   -­‐ Focusing  too  much  on  things  that  are  outside  of  your  control   -­‐ Must  eliminate  distractions-­‐  professionally  &  personally   -­‐ Not  separating  church  &  state    

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