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Introduction to Home Based Recruiting

Comments Off on Introduction to Home Based Recruiting 06 August 2011

What’s a recruiter?

A recruiter, also known as a “headhunter”, is an individual that works directly with a client company (client) or another recruiter to find qualified candidates for a selected firms job openings. Executive Recruiting does not require any academic degrees, examinations or special licenses however it does require a thorough knowledge of your chosen field.

Most recruiters work on a “contingency fee” arrangement which essentially suggests that the recruiter is contracted to find, pre-screen and qualify applicants for their customers review. Payment is only received after an applicant is successfully placed with the customer.

Clients usually prefer this arrangement because they pay no fee unless we find and they hirea appropriate applicant. As a recruiter, you help firms and employees connect and collect a fee when your job is finished.

A “retained” recruiter arrangement is another possible contract where the customer pays part of the recruiters ‘ costs up front to search for a skilled applicant. The balance is paid when the candidate is successfully hired. This form of arrangement is usually more traditional with Executive level positions.

How does a recruiter make money?

A recruiter produces his income by placing candidates with a client and getting paid based upon the exact contractual agreement. This rate is generally 20 to 30% of the applicants annual salary. For instance, if you were placing a candidate that had an income of $70,000 a year then the fee paid to you would be $14,000 or more ($70,000 x 20%).

An average recruiter could do from 1-3 placements per month. When you do the math, you'll find that this business can be a nice “home based” revenue producer!

Another income stream for a recruiter can come from other recruiters. This is done by being a participant of a split network where placements are done when one recruiter has the applicant and the other has the customer. The split fee is generally shared in a 50/50 arrangement.

How quick can I expect to make money as a recruiter?

This, naturally is completely up to when you start your business and if you’re involved as a part time or full time recruiter. Clients generally reimburse recruiters from 30 to 45 days after the applicant start date.

An average full time recruiter that has been in the business for 12 months can generally make between $40,000 and $75,000 (their first full year.) An experienced recruiter with 2-4 years experience can make anywhere from $100,000 to $200,000 or even more.

Can I start this business part-time without quitting my current job?

Yes. You will find that there is a substantial amount of research and info gathering prior to starting your new business that can easily be done in your spare time.

After establishing your required specialty, you'll begin amassing names, phone numbers and e-mails of potential candidates. You may then start calling/emailing these individuals in you free time and discover what interest them and if they are ready to pursue a new position.

Or you might first start networking with other recruiters that have a current client agreement with job orders for that speciality and then proceed with contacting applicants. As I discussed before, there are a couple of “recruiter associations” that are comprised of recruiters that require aid with their job orders and welcome splits with other recruiters.

My preferred association is Top Echelon. They have a network of over 900 recruiters that are interested in “splits” and they also provide website development, software, training and more.

Partner with Me

Do you presently have contact with hiring executives or HR in your chosen industry? If yes, start contacting them and discover if they're currently employing the services of outside recruiters. If they are this should be a superb opportunity for you to offer your services as a recruiter and jump start your home based recruiting business.

If this form of home run enterprise interest you, then my newbies electronic ebook will provide you with more recruiting basics and creative ideas to make your business successful.

Start your Home Based Recruiting business now.

This article was authored by a practicing home based recruiter which has been in the sector for over 11 years. His viewpoints on home based recruiting can be found in his recently published e-book, Home Based Recruiting Tips

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