Prevent Offer Turndowns!
Email I received from Barbara Bruno
Hi Jim,
Have you ever had an offer turned down? If you've been a recruiter for more than a few months, odds are this has happened to you. Your candidates often say "It's not about the MONEY" but trust me, money always plays a part in their decision. Would you like to learn a process GUARANTEED to drastically reduce the number of offer-turndowns? I am guessing your answer is "yes"! The process is called "CLOSING TO THE NO ON MONEY".
This is a closing process you will utilize from your first interview with a candidate throughout the entire process, right up to the offer. The greatest mistake most recruiters make is quoting the top of a salary level in order to entice a candidate's interest in the position you are representing.
The problem? This candidate could be earning $65,000, but when you give them a range of $70-$85,000, they only hear $85,000. When you are asked what a position will pay, your answer should always be the same- "I don't know, it depends on how well you interview." Then ask, what is your current compensation package? Remember to include bonuses, 40lK contributions by the employer, cost of benefits, and anything else that will be considered.
Once you know their current package, if it is within the range of your client you say, "Your compensation package is definitely within the range my client will pay". "It does depend on the interview. If my client feels you will hit the ground running with little or no training dollars can go up. I also want to ensure you that the more money I get you, the more money I earn. I have a vested interest in getting you the best offer possible, and never leave money on the table when I'm negotiating an offer for you." "Let's talk about salary. I see your current salary is $65,000, is that correct? I need to know when I pick up the phone and present an opportunity to you..Let's assume my client can offer you everything else you are looking for..."what is that dollar amount? They may answer, "I understand the position you have goes up to $85,000 so that is my bottom dollar.
You need to explain that they would possibly consider the top of the range for: a. Extensive experience b. Someone from a competitor You then start to close them to the NO on money. If I have an opportunity that addresses everything you told me was important to you and the salary is $75,000 should I pick up the phone? What about $70,000? What about $68,000? What about $65,000? I'm going to keep asking this question until the candidate says "NO", I will not accept anything less than $68,000. I then reduce the dollar amount by $500."If I have an awesome opportunity that pays $67,500 and can offer you everything else you told me was important to you should I call you?" Once the person says "NO".you put that figure on your application/profile form and circle it!
You verify that number several times:
1. When you present opportunities to this candidate
2. When you prep your candidate for an interview
3. When you de-brief your candidate after an interview
4. When you are ready to extend an offer The number tends to increase as the process continues.
If your client calls and extends an offer of $75,000 and you have your candidate closed to the NO on money at $70,000, you make one more vitally important phone call to close the candidate on money. The reason for this is simple- you don't know who your candidate has talked to in the last 24 hours who may have impacted their decision.
The final call is as follows: "My client is getting close to a decision between you and another candidate. I want to make sure I understand what offer you will accept. If I get an offer at $70,000 with a two week start date, do I have your authority to accept this offer on your behalf?" You then wait for them to speak. At this point, they may say I'll accept $70,000, but would really prefer an offer of $72,000.
If you can not close your candidate on the offer you have received or lower, you need to call your client back and see if they will increase the offer. You then call your candidate back, extend the offer which they are anticipating somewhere between $70,000 - $72,000. You congratulate them and tell them you were able to get them a "raise up front". When you extend an offer of $75,000- this is an offer that IS accepted. Your goal is to always close your candidates LOWER and your clients HIGHER so you have room to negotiate when the offer is extended.
When dollars come in higher than anticipated, counter-offers lose their impact. CLOSING TO THE "NO", will close more deals and make you more income! If you enjoyed this tip when it comes to negotiating and closing to the "no" with your candidates, you will surely love my book, "Increase Your W-2". In it, you will learn many of the secrets I have personally used in the last 30 years to place more candidates more often! This book is jam packed with information that can drastically improve your closing ratio and therefore your income!
http://www.recruitingclosingskills.com/
CLOSING TO THE NO ON MONEY! Guaranteed to drastically reduce offer/turndowns!
http://www.recruitingclosingskills.com/
Thanks,
Barb Bruno
barb@staffingandrecruiting.com
Good As Gold Training, Inc. Offers are brought to you by: Good as Gold Training, Inc. 710 N. Main Street Crown Point, IN 46307
Hi Jim,
Have you ever had an offer turned down? If you've been a recruiter for more than a few months, odds are this has happened to you. Your candidates often say "It's not about the MONEY" but trust me, money always plays a part in their decision. Would you like to learn a process GUARANTEED to drastically reduce the number of offer-turndowns? I am guessing your answer is "yes"! The process is called "CLOSING TO THE NO ON MONEY".
This is a closing process you will utilize from your first interview with a candidate throughout the entire process, right up to the offer. The greatest mistake most recruiters make is quoting the top of a salary level in order to entice a candidate's interest in the position you are representing.
The problem? This candidate could be earning $65,000, but when you give them a range of $70-$85,000, they only hear $85,000. When you are asked what a position will pay, your answer should always be the same- "I don't know, it depends on how well you interview." Then ask, what is your current compensation package? Remember to include bonuses, 40lK contributions by the employer, cost of benefits, and anything else that will be considered.
Once you know their current package, if it is within the range of your client you say, "Your compensation package is definitely within the range my client will pay". "It does depend on the interview. If my client feels you will hit the ground running with little or no training dollars can go up. I also want to ensure you that the more money I get you, the more money I earn. I have a vested interest in getting you the best offer possible, and never leave money on the table when I'm negotiating an offer for you." "Let's talk about salary. I see your current salary is $65,000, is that correct? I need to know when I pick up the phone and present an opportunity to you..Let's assume my client can offer you everything else you are looking for..."what is that dollar amount? They may answer, "I understand the position you have goes up to $85,000 so that is my bottom dollar.
You need to explain that they would possibly consider the top of the range for: a. Extensive experience b. Someone from a competitor You then start to close them to the NO on money. If I have an opportunity that addresses everything you told me was important to you and the salary is $75,000 should I pick up the phone? What about $70,000? What about $68,000? What about $65,000? I'm going to keep asking this question until the candidate says "NO", I will not accept anything less than $68,000. I then reduce the dollar amount by $500."If I have an awesome opportunity that pays $67,500 and can offer you everything else you told me was important to you should I call you?" Once the person says "NO".you put that figure on your application/profile form and circle it!
You verify that number several times:
1. When you present opportunities to this candidate
2. When you prep your candidate for an interview
3. When you de-brief your candidate after an interview
4. When you are ready to extend an offer The number tends to increase as the process continues.
If your client calls and extends an offer of $75,000 and you have your candidate closed to the NO on money at $70,000, you make one more vitally important phone call to close the candidate on money. The reason for this is simple- you don't know who your candidate has talked to in the last 24 hours who may have impacted their decision.
The final call is as follows: "My client is getting close to a decision between you and another candidate. I want to make sure I understand what offer you will accept. If I get an offer at $70,000 with a two week start date, do I have your authority to accept this offer on your behalf?" You then wait for them to speak. At this point, they may say I'll accept $70,000, but would really prefer an offer of $72,000.
If you can not close your candidate on the offer you have received or lower, you need to call your client back and see if they will increase the offer. You then call your candidate back, extend the offer which they are anticipating somewhere between $70,000 - $72,000. You congratulate them and tell them you were able to get them a "raise up front". When you extend an offer of $75,000- this is an offer that IS accepted. Your goal is to always close your candidates LOWER and your clients HIGHER so you have room to negotiate when the offer is extended.
When dollars come in higher than anticipated, counter-offers lose their impact. CLOSING TO THE "NO", will close more deals and make you more income! If you enjoyed this tip when it comes to negotiating and closing to the "no" with your candidates, you will surely love my book, "Increase Your W-2". In it, you will learn many of the secrets I have personally used in the last 30 years to place more candidates more often! This book is jam packed with information that can drastically improve your closing ratio and therefore your income!
http://www.recruitingclosingskills.com/
CLOSING TO THE NO ON MONEY! Guaranteed to drastically reduce offer/turndowns!
http://www.recruitingclosingskills.com/
Thanks,
Barb Bruno
barb@staffingandrecruiting.com
Good As Gold Training, Inc. Offers are brought to you by: Good as Gold Training, Inc. 710 N. Main Street Crown Point, IN 46307
posted by Jim at 12:57 PM
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