One decision in 1994 changed my recruiting career, and I wrote about it for ERE. Here’s the story, with a link to the original column below.

The Room of Top Producers

It was my first Pinnacle Society meeting, at a mountain resort in Colorado. I didn’t know a soul. The meeting opened the way it always does, with every member telling the room who they recruit, where they’re from and their average fee. A good headhunter is part storyteller and part comedian, so there were plenty of laughs.

By the time we went all the way around the table, I realized I had the second lowest average fee in the room. I was working harder for less money.

A Line in the Sand

I drew a line that day. I made a firm resolve not to work any search below a set minimum fee. I set my floor, and it was one of the best moves I ever made. That one day paid for my Pinnacle dues that year and every year since.

Richie Harris says, “In order to be successful, you have to decide not only what you’re going to do, but what you’re not going to do.”

The Vacuum Theory of Success

To create something new, you often have to give something up. I stopped taking clerk and junior level searches and put my energy into higher level work. I raised my floor every year. When the market dipped, I adjusted, and when it recovered, I raised it again. Good times are the time to raise your minimum, because clients will ask you to cut fees in the lean times.

I’m not shy about my minimum either. Call a great attorney and the first thing you hear is the hourly rate. Telling a new client your minimum works the same way.

Set Yours Now

Take a moment and write down your absolute minimum fee. Be conservative and pick a number you know you can stand by. You can always raise it, but you want a firm floor.

Clarity is powerful. Knowing exactly what you will and won’t do frees you from wrestling with searches below what you’re capable of. Soon after you set your floor, you’ll find yourself working higher level, more rewarding searches.

This column first ran on ERE in June 2007. You can read the original on ERE here: https://www.ere.net/articles/want-your-billings-to-soar-set-your-floor.

I’m Joe Pelayo, an executive recruiter for 40 years and founder of Joseph Michaels International here in Dallas. We recruit for roles with base pay from 75K to 2 million, and one call to me reaches our network of 700 recruiters. Right now we have 1,633 open jobs.

Let’s Talk

Want a recruiter who focuses on the searches that matter most to you? Give me a call.

Call me at 1-800-786-1099 or email info@josephmichaels.com.

Joseph Michaels International, 13355 Noel Road Suite 1360, Dallas, TX 75240