How Do You Handle Payments for Permanent Recruiters?
Hi everyone! I hope you can help a newbie agency owner navigate this complex issue.
I launched my recruitment agency at the beginning of this year, and I’m excited to report that we’re currently generating around $60K per month, mainly from contract placements. While I’ve got extensive experience in temporary and contract recruitment, permanent placements are relatively new territory for me. As a solo entrepreneur, it’s been straightforward to fill positions and keep the entire fee. However, as I aim to expand my team, I need guidance on calculating billings and commissions for each team member.
I’m planning to implement a salary plus commission structure. The idea is that recruiters will cover the cost of their salary through their billings and then earn a commission on the amount billed beyond their salary. The commission plan I have in mind is 30% for generating a job order and 25% for successfully filling that order.
Here’s an example to illustrate my confusion:
If a recruiter has a monthly salary of $5K and bills $30K in one month, how would you determine their commission? I apologize if this is a basic question, but it’s causing me some serious confusion! Do you count an individual’s billings as the entire fee from the job order they contributed to, or just the portion they are directly accountable for?
According to my proposed payment structure, if that recruiter creates a job order but someone else completes the placement, they’d still be eligible for the 30% commission on the remaining amount after their salary is covered. In this case, if the salary is $5K and the placement fee is $20K, would they receive 30% of the remaining $15K, or would their commission be calculated as 30% of the entire $20K? Total brain explosion! I would greatly appreciate any insight on this! Thanks!
RCadmin
Hey there!
First off, congratulations on launching your recruitment agency and generating significant revenue so quickly! That’s an impressive feat, especially with a focus on contract recruitment.
When it comes to calculating commissions for perm placements, the approach you take can greatly impact motivation and earnings potential for your recruiters, so it’s great that you’re thinking through this carefully. Let’s break it down:
However, in your case, since you’re offering different commission rates for generating and filling roles, it makes sense for your commission structure to reflect the contributions accordingly.
Example Commission Calculation:
If a recruiter generates a job order but someone else fills it, they should still be recognized for their contribution. So, in your example:
Consideration of Base Salary:
It seems like your plan is to have the recruiters cover their salary with billings first, which is common in this kind of structure. After they cover their base, anything they earn above that can then be fully credited towards their commission calculations.
Clarity and Motivation:
Make sure to clearly communicate this structure to your team. Transparency fosters motivation and clarity on how their earnings are determined. Also, consider having a clause that might offer additional incentives for recruiters who fill roles, encouraging them to work collaboratively.
Flexibility:
So, in summary: billings are typically tied to the overall fee generated from the job order concerning individual contributions. Your plan sounds fair, but clarity is key to ensuring everyone understands how commissions are calculated.
Hope this helps you straighten out those commission calculations! Good luck with scaling your agency!