How Much Will You Bill Through TE This Year?
If you’re a recruiter, you want to bill more. That’s what you do. (C’mon, name the commercial.)
It’s true though: if you’re a recruiter, you want to bill more. That includes the amount that you bill through Top Echelon Network. Remember, these are placements that you would NOT have made otherwise. (Because if you could have made them otherwise, then you would have made them otherwise, no?)
Taking all of that into consideration, there are a couple of things we wanted to find out. The first is how much Top Echelon recruiters will bill through the Network this year. So, presto! We put a poll question in the Members’ Area:
How much will you bill through the Network this year?
The choice of answers that we provided is listed below, along with the percentage of Network recruiters that selected each one:
- Less than $10K — 27.8%
- Between $10K and $25K — 20.4%
- Between $25K and $50K — 46.2%
- Between $50K and $75K— 12.0%
- Between $75K and $100K— 3.7%
- Over $100K — 8.3%
I like to bill . . . yes, I like to bill . . .
As you can see by the results listed above, there’s a “sweet spot” when it comes to how much TE recruiters bill through the Network. That sweet spot is “between $25K and $50K” (46.2%).
Let’s see . . . the monthly membership dues for Top Echelon Network is $130 per month. Over the course of a whole year, a recruiting firm would pay $1,560 in dues.
Hold that thought. Let’s say that same firm bills $25,000 through the Network during that same year. Then let’s take their part of the brokerage fee away from that total. Since the brokerage fee for a split placement in Top Echelon Network is 6%, that firm’s share of the fee is 3%. So . . .
- $25,000 x 3% brokerage fee = $750
- $25,000 – $750 brokerage fee = $24,250
- $24,250 – $1,560 = $22,690
Theoretically, that recruiting firm paid $1,560 in membership dues over the course of a single year. That was the firm’s monetary investment. The return that it received on that investment was $22,690.
Pay $1,560, receive $22,690.
How many times would you do that as a business owner? As many times as you possibly could.
And $25,000 in billings is at the low end. Keep in mind that at least another 24% of poll respondents billed more than $50,000 this year. So their return on their Network investment was even greater than what we’ve calculated.
No matter how you slice it, using Top Echelon’s recruiter network to source candidates and fill job orders is a fantastic investment in your recruiting business. What kind of return are you getting on your investment?