idex Ditch Kpis And Make More Money User Guide

DITCH KPIS AND MAKE
MORE MONEY: THE
RECRUITER’S GUIDE

BOOST YOUR BILLINGS (WHILE BEATING BURNOUT)
In 2018, the UK recruitment industry grew by a staggering 46%, with 115,000 people working in the sector. As businesses worldwide fight to attract top talent, demand for top recruiters will only expand. This growth continued in 2019 and the UK recruitment sector was in a strong place at the beginning of 2020. However, the coronavirus pandemic had a profound impact on the recruitment industry that was once growing year-on-year. Additionally, it’s also suffering from high levels of attrition.
But there’s an issue.
Although the industry is growing year on year, it’s also suffering from high levels of attrition.

DOES THIS SURPRISE YOU? NOT US

“Work pressure, monotonous work, other career opportunities, and organizational culture are the top reasons behind the increased attrition rates.”
– 2018 Global Recruitment Report (TechNavio)
TOO MANY RECRUITMENT AGENCIES RELY ON OUTDATED KPIS AND HAVE CULTURES BASED ON BOSSES BREATHING DOWN YOUR NECK.
We speak from a position of authority on this because our Directors who founded IDEX Consulting have a wealth of experience in corporate recruitment backgrounds. Over the years, we’ve worked with dozens of talented recruiters, helping them create high-flying, high-earning careers while getting the satisfaction of doing a good job for clients and candidates.

“The top Idex Recruiter billed over £1 million in 2021”
SO WHAT ARE YOU WAITING FOR?

DITCH THE KPI

From Day one in recruitment, you’re given numbers you need to hit. But we’ll let you into a little secret. All too often, these KPIs are arbitrary and counterproductive.
You know the sort of thing we mean. You have your targets, but it feels like their purpose is to make the business money. They don’t feel linked to your market. No one tells you why you should be aiming for these numbers or how they’re connected to your experience, clients or candidate book.
Without context, these KPIs are meaningless because there’s no obvious grounding in your market’s dynamics. They cause stress. And instead of being a tool to track your progress and motivate you, they become a stick to beat you down with.

IT’S TIME TO SAY GOODBYE TO THE KPI

Of course, we’re not suggesting you go rogue. Targets are important (and we definitely have them at IDEX). You need to know what you’re aiming for and what success looks like, and managers need a way of ensuring everyone is on track.
But recruitment agencies need to stop focusing so much on generic KPIs, which often haven’t changed much in 15 years. Talented consultants like you need a more strategic and personalized way to succeed. In other words, it’s not just about getting numbers up on the board, it’s about having a blueprint for a successful career. Here at IDEX, everyone gets a career blueprint tailored to them. Instead of saying: “You must get 20 new CVs this week,” we lay out the steps you need to follow to reach your goals. By approaching targets as tools for progressing your career, you free up time and energy to focus on activities that benefit your clients and candidates. You feel like you’re making a difference instead of running on a career treadmill that doesn’t actually take you anywhere.

WHAT MAKES A GOOD TARGET?

Good targets aren’t just about the revenue you have to produce – they give you a framework for nurturing long-term relationships and delivering a quality service. For example:

THINK IN TERMS OF A CAREER BLUEPRINT
If KPIs are meaningless targets that ultimately demotivate you, then a career blueprint is an actionable guide to help you progress. The specific steps will be based on your experience, your goals, and what market you’re working in. But there are 2 fundamentals for any career blueprint.

quarter to foster relationships
Make 100 BD calls this quarter| Publish three thought leadership pieces on LinkedIn to show you understand the challenges of a particular niche

1. A shift in perspective will help you keep sight of why you’re doing the things you’re doing. That’s far more motivating than someone breathing down your neck about the number of CVs you’ve sent.
   This is why we tailor targets based on what desk you’re on and where you are in your career. If you’re new to the business, you won’t have the same targets as someone billing £400,000 a year. And they’ll be based on the sector you work in. For example, in law, you may only need to deal with 10 equity partners in a firm; in financial services, you may need to keep 20 contacts warm. We know the nuances for each vertical and adapt your targets accordingly.

2. We live in a data-driven world, so use it to your advantage. Every industry from marketing to healthcare is using stats to make informed decisions. And recruitment should be no different.
   We use cutting-edge systems to track large amounts of data. Begin by analyzing your stats. Month by month, quarter by quarter, year by year and look for trends in your numbers and actions to understand how you’re performing and where you can improve. You can then see, for example, how to turn a £130,000 year into a £170,000 one by working on higher average fees and job fill rates.
   By joining up where you are with where you want to be, you’ll get a better idea of what exactly you need to do to reach your potential. You can take the guesswork out of your career progression and identify a clear path to success.

HOW IDEX HELPS YOU MAX YOUR EARNINGS AND JOB SATISFACTION

Shifting your approach to targets and taking a data-led approach to your career is all well and good – but unless your employer fosters that kind of culture, you’re not going to get very far.
In the wake of the coronavirus pandemic, we’ve seen a significant shift in culture within the workplace, and a data-driven culture is becoming more and more prominent. Here at IDEX, we’ve adopted a data-based decision-making culture for years, and practice what we preach. In addition to helping you create a personalized career blueprint complete with the appropriate training, there are key ways we help you boost your earnings and job satisfaction.

READY-MADE RELATIONSHIPS AND CONTRACTS

We have longstanding client relationships. It’s our USP, and it’s what helped us grow during the recession when other agencies were laying off consultants. It’s what’s helped us keep our clients close when they were at a distance during the COVID-19 pandemic. Not only are these relationships with senior contacts at top companies, but we also have clients on retainer. This means you’re not phone-bashing to get vacancies. Rather, your job is to nurture those relationships and get more work from them.

HIGH-VALUE PLACEMENTS

Generally speaking, our vacancies start at £30,000, but our core market is placing experienced, senior-level professionals in financial services, legal and general insurance – and these are people who command high salaries. You can see why relationships are so important for us. After all, the £60,000 placement you make today may be the managing director coming to you with a vacancy in a couple of years. We work as true partners (it’s why Consulting is in our company name) to find the right fit. These are valuable placements, which also means your hard work is rewarded with higher commissions.

SENIOR CONTACTS IN THE INDUSTRY

We expect every one of our consultants to work hard to get the most out of their clients – and we expect the same of our directors.
Our directors have high profiles in the industry, speaking at events, publishing articles, and getting out to lunch and on the phone with C-level contacts. We win legal, insurance, and financial services industry awards. We can legitimately say that we engage with 10,000 professionals on a quarterly basis, We then feed the leads to you. That means you’re handed contacts on a silver platter, paving the way to take your earnings to the next level.

WARM LEADS

On top of the leads you get from the directors, you also get leads from our marketing department.
And every leads our marketing department hands over is nurtured, qualified, and of high quality. Whether you’re adding a new client to your books or welcoming new candidates to your roster, you have a team actively helping you connect.

THE BEST TECHNOLOGY

One of our goals is to give consultants the best technology of any recruitment agency. If it will make you more effective and efficient, we want you to have it. One example is LinkedIn Recruiter. You’ll have your own license, and some of your targets will be around building projects on it. In our experience, 80% of recruitment agencies don’t do this.
Segmentation is another example. We have tools that help you segment your data so you can take an informed and personalized approach to clients and candidates. That way you can really focus your efforts on candidates that might be a good fit – instead of wasting time with a ring-round to see what sticks.

SO HERE’S THE QUESTION:
ARE YOU STILL WILLING TO SETTLE FOR A FRUSTRATING CAREER IN THE SLOW LANE- OR DO YOU WANT TO TAKE THINGS UP A GEAR?

IDEX Consulting is an innovative, independent recruitment and talent management consultancy specializing in the general insurance, financial services, and legal sectors – we’re the leader in these verticals. With over 300 clients across the UK, we focus on enhancing lives and businesses through a consultative approach to career and talent management.
As a consultant at IDEX, you’ll be part of an ambitious team who spends each day making a difference – not just posting meaningless numbers. You’ll benefit from a culture that helps take your career to the next level – and reminds you why you love being in recruitment. And our results speak for themselves:

Of consultants
did over
£200,000 last year| have increased their
billings since joining, some
have even doubled within their first year!| Of consultants
have been at
IDEX for more than 5 years

LEARN MORE ABOUT
OPPORTUNITIES FOR
EXPERIENCED RECRUITERS
We’re looking for consultants with 2 to 5 years’ experience.
It doesn’t matter what sectors you’ve worked in – we give you full training in our verticals.
BOOK A CONFIDENTIAL CALL
https://calendly.com/richard-martin-idex/60-minute-video-call?month=2022-08

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