Can any one help me to impliment a good incentive structure for my staffing comapany(for recruiters)?for IT and non-IT sections??
From India, Bangalore
From India, Bangalore
Before setting the incentive structure please keep in mind the SLAs you have agreed upon with the companies you are recruiting for. Ideally the performance should be measured against the company goals and all their efforts should add up to achievement of that goal. This will help drive productivity in the right direction.
Keep goals simple to measure and ensure that every one is informed of their targets and goals.
I assume the following:
That recruiters are assigned positions that they need to fill and that there is no overlap of assignments.
You have an agreed upon cycle time and tenure with clients (i.e emp has to complete a certain tenure with the company before you get paid)
Target 1 Average Cycle time 90% of people placed should be placed within "x" Days of being given the profile. (This will go towards improving turn arround times and thus improve your standing as a recruitment consultant)
Target 2 Fitment Rate: Number of candidates reffered to Number of Candidates Hired
This will ensure that the right candidates are shotlisted and sent for Interviews to clients thus working towards building your image as a company that selects the right kind of people.(Examine your current rate and set a goal of 10-20% higher)
Target 3 Confirmation Rate: Number of employees confirmed after probation (Don't count people who were confirmed after and extended probation) to the number of people placed. (Awards placing stable and performing candidates)
Target 4 Customer Satisfaction : Survey 5-10% of your clients for the candidates you have sent to them for an interview. Questionare is really simple to design ask them if they are receiving the right kind of profiles and are they satisfied with the recruitment services bein provided by you also have them suggest areas of improvement and whats going good.
Also call back palced employees and find out how satisfied they are with the jobs that they have, salary fitment, growth opportunities, relationship and Attitude of bosses.
These targets will not only help you work towards inprooving you standing in the industry but also encourage your recruiters to put that extra effort into shotlisting the right people and not the general gang mail strategy followed.
Before awarding a Weightage to each concider what your major pain areas and distribute the weightage accordingly.
I am no Senior but these were my thoughts on what can help.
You have the right to choose what you implement from these. I Know all these are data driven but i believe thats the best way to measure consistantly and accurately.
From India, Mumbai
9Keep goals simple to measure and ensure that every one is informed of their targets and goals.
I assume the following:
That recruiters are assigned positions that they need to fill and that there is no overlap of assignments.
You have an agreed upon cycle time and tenure with clients (i.e emp has to complete a certain tenure with the company before you get paid)
Target 1 Average Cycle time 90% of people placed should be placed within "x" Days of being given the profile. (This will go towards improving turn arround times and thus improve your standing as a recruitment consultant)
Target 2 Fitment Rate: Number of candidates reffered to Number of Candidates Hired
This will ensure that the right candidates are shotlisted and sent for Interviews to clients thus working towards building your image as a company that selects the right kind of people.(Examine your current rate and set a goal of 10-20% higher)
Target 3 Confirmation Rate: Number of employees confirmed after probation (Don't count people who were confirmed after and extended probation) to the number of people placed. (Awards placing stable and performing candidates)
Target 4 Customer Satisfaction : Survey 5-10% of your clients for the candidates you have sent to them for an interview. Questionare is really simple to design ask them if they are receiving the right kind of profiles and are they satisfied with the recruitment services bein provided by you also have them suggest areas of improvement and whats going good.
Also call back palced employees and find out how satisfied they are with the jobs that they have, salary fitment, growth opportunities, relationship and Attitude of bosses.
These targets will not only help you work towards inprooving you standing in the industry but also encourage your recruiters to put that extra effort into shotlisting the right people and not the general gang mail strategy followed.
Before awarding a Weightage to each concider what your major pain areas and distribute the weightage accordingly.
I am no Senior but these were my thoughts on what can help.
You have the right to choose what you implement from these. I Know all these are data driven but i believe thats the best way to measure consistantly and accurately.
From India, Mumbai
make it as 1000 rs for jr recruiters and 2500 for sr recruiters for first placment and increase after 3 placments like 5000 for 4 placments and a party at a restaurent for the top performer for the month with his team
this is my exp i wish it will be helpful
From India, Hyderabad
this is my exp i wish it will be helpful
From India, Hyderabad
I believe - Incentive is motivation! Here is what my suggestion is (rather simple formula) -
Split 10% into two halves from Invoice amount (on permanent plaements)- 5% for recruiter and 5% for account manager. For firts client - give 1000/- and 2000/- each placement to recruiters and Account Managers respectievely for first five placements.
Once you pay them, take a treat from them which should be 1000/- "higher" than what they have earned! :-P
From India, Gurgaon
Split 10% into two halves from Invoice amount (on permanent plaements)- 5% for recruiter and 5% for account manager. For firts client - give 1000/- and 2000/- each placement to recruiters and Account Managers respectievely for first five placements.
Once you pay them, take a treat from them which should be 1000/- "higher" than what they have earned! :-P
From India, Gurgaon
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