Hi Everyone,
I've been considering recruiting as a part time gig because I hear its not a bad way to make cash. The question I have is:
- What's your process after identifying a candidate?
- On average what are you charging another recruiter if you want to pass the lead off?
- What safety measure do you have in place to make sure you get paid?
- Do you make clients sign paperwork agreeing to specifics if they hire your candidate?
There are a couple ways you could go about it.
If you do want to go with #2, you will want to execute a contingency agreement with the companies, which essentially outlines what they will owe you if/when they hire a candidate you identified. (Standard language will also include a 'guarantee' if the candidate doesn't work out - this can be a full / partial refund or simply a replacement candidate at no additional cost.)
While this option is more lucrative (standard fee is 20% of first year salary in the US market), it will take significantly longer to start earning. Figure a typical search takes 60-90 days to fill + 30 days after the candidate starts to get paid.
I would recommend going the freelance route to start. It will be easier to land a paying gig sooner and is the best way to learn more about the field and how to navigate managing an end-to-end recruitment process.
Sorry for the late reply. This was pretty clutch advice. I will go with option #1 out the gate because as you mentioned it’s a better option to really establish clients and better understand the landscape. Thanks for taking the time to respond to this post. Definitely value added.
Don't have to the answers to your questions...
But the gig idea is good. I'd like to know where you find those part-time recruiting gigs.