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
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
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
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
• 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
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.
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
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 firstname.lastname@example.orgDarren 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
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?
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