Measuring your company's economic influence drives self-motivation and is a powerful tool for marketing and business development. Jennifer Meyer of Govig Executive Search joins us in this episode to give insight on using specific metrics to measure your economic impact and how you can communicate it with potential clients.

 

Jen has a lifetime cash-in of $20M over her 26 years in the industry. She’s the SVP of Strategic Partnerships at Govig & Associates, where she’s at the helm of business development. She leads the overall team of 27 recruiters, actively front-facing with clients and playing a significant role in surpassing $14M in results.

 

Jen’s recruitment efforts have been vital in assisting small to mid-size firms, particularly those under private equity, to double in size. Jen’s placements have contributed to an economic impact exceeding $1B.

 

Episode Outline and Highlights

 

• [01:51] Jen’s start in the recruitment industry as a college intern.

• [10:09] Differentiating techniques in communication and business development.

• [19:06] “Speak to them in their language”

• [28:02] Training your team to apply the TSI (Targeted Sales Information) approach.

• [40:00] How to quantify your economic impact.

• [50:41] A boutique recruitment firm’s differentiators against the bigger organizations.

• [54:53] Discussion on team development strategies.

• [59:18] Jen’s take on work and life harmony.

 

Quantifying the Economic Impact of Your Recruitment Business

 

Measuring your company’s economic impact can be significantly beneficial for at least two reasons. The first one is self-motivation; knowing how you contribute to the broader economy can positively impact and fulfill. The second one is on the marketing and business development side. It can help potential clients understand the bigger value you will bring to their organization. 

 

Jen shared how she is able to track her placement’s economic contribution using specific metrics. Her placements overall have contributed to more than $1B in economic impact. She shared their formula: “We always talk about the size of our billings or our business in relation to what were invoicing or what our split was in relation to cash in. But we really should be talking about the salaries of the people that we place, you know, if you were going to relate it that way…Yeah, it does go beyond that, though, where you are at the, you know, again, at the basic level, you are affecting the person, and you're affecting the hiring manager. So that could be a times two, right?”

 

Here is a takeaway: Start trying to calculate the individual impact you're having in the world, particularly the positive impact you're having for your clients, and try to quantify that. If you have the appetite, even go back in history and try to work it out. But even just starting right now, try and figure out what difference you're making because that's really motivating!

 

Differentiating in the Business Development Side

 

A key topic I wanted to discuss with Jen is how she is able to differentiate, especially on the client acquisition and business development side of things. Jen has always been consistently recognized as a top performer in her career. I wanted to pick her brains on her approach when it comes to communicating with potential leads and candidates, and she surely did not disappoint. Jen revealed specific tips and verbiage that you may want also to use. Here are some key takeaways:

 

• Focus on authenticity and listening more by asking curious questions.

• Avoid typical questions like “Can I help you?” or “How are you doing?”

• Use power phrases such as “Are you in a place where you can talk confidentially?” or “I’ve only got a minute” instead of “Have you got a minute?”

• The effective use of body language.

 

She explained, “Whether you're 30 minutes into the business or you're 30 years into the business, everybody is saying the same thing and overcoming objections in the same way. So what can you do that just sounds different? You know what I mean? And I think if you think about it from a perspective of what that person is going to hear based on their world helps you...And so if you speak to them in their language, they get it.”

 

You will also hear Jen’s insights on developing her team to elevate their levels on the business development side, which is quite similar to the TSI (Targeted Sales Information) approach.

 

Team Development Strategies as a Billing Manager

 

A billing manager is a critical and challenging role in a recruitment firm. The role entails ensuring individual profitability while leading your team to do the same. Jen has been passionate about mentoring and developing her people, so I wanted to hear her methods in helping her team be successful. Jen elaborated on the following topics:

 

• Consistent deskside training.

• Real-time feedback and call reviews.

• The importance of teaching structure.

• Listening for opportunities in candidate interviews.

• Using a checklist.

 

Our Sponsor

 

This podcast is proudly sponsored by i-intro 

 

i-intro® is an end-to-end retained recruitment platform. Their technology and methodology allow recruiters to differentiate themselves from the competition, win more retained business, bigger fees, and increase their billings. Their software combined with world-class training enables you to transition from transactional, contingency recruiter to consultative, retained recruiter. Instead of being perceived as a “me too” vendor, you’ll be positioned as a “me only” solutions provider. Be sure to mention Mark Whitby or The Resilient Recruiter. Book your free, no-obligation consultation here: https://recruitmentcoach.com/retained

 

Jennifer Meyer Bio and Contact Info

 

Over the past 26 years, Jen has been a guiding force, significantly influencing numerous organizations and professionals. She has generated over $20M in cumulative cash-in, contributing to an economic impact exceeding $1B. This remarkable achievement includes the highest fee, which is over $300k. Currently serving as the SVP of Strategic Partnerships at Govig & Associates, Jen plays a crucial role in propelling the company forward. She's at the helm of business development and leads the overall team of 27 recruiters, actively front-facing with clients and playing a significant role in surpassing $14M in results.

 

Jen's professional journey began with a 6-year tenure at an MRI office, where she consistently ranked in the top 10% among approximately 5000 recruiters at that time. She then co-founded North Coast ExecuSearch, Inc., where she served as a billing manager for 14 years, maintaining a position in the top 50 out of 750 offices worldwide. Jen's recruitment efforts have been vital in assisting small to mid-size firms, particularly those under private equity, to not only meet but also exceed their growth objectives, with several doubling in size and achieving revenues over $1 billion.

 

Jen’s work ethic is not driven by the desire for accolades but by a deep-seated passion for mentorship and forging lasting relationships. She believes in the collective improvement of the industry, emphasizing the importance of recognizing recruiters as valuable consultants and ensuring they are compensated fairly for their expertise. Her remarkable career is enhanced with numerous accolades, including her 24-time recognition as a "Pacesetter" Award Winner, her induction into the Hall of Fame and The Ring of Honor within the MRINetwork, and receiving the prestigious Alan R. Schonberg Lifetime Achievement Award for her revenue contributions and character and her acceptance to the Pinnacle Society over a year ago.  Not to mention she is very active in a commitment to community service, most recently acting as the President of the MRINetwork Charitable Foundation, where she led the board to raise money for Shriners Hospitals for Children.

 

As Jennifer shares her insights, her quiet confidence, impressive achievements, and unwavering dedication to talent development serve as a powerful reminder of the influence we can all have in shaping the futures of many.

 

• Jen on LinkedIn

• Govig Executive Search website link

• Govig on Facebook

 

People and Resources Mentioned

 

• Katherine Jerald on LinkedIn

• Brent Orsuga on LinkedIn

• Crelate

 

Related Podcast You Might Enjoy

 

• TRR#178 Top Producing Recruiter Reveals How to Win and Develop Key Accounts, with Katherine Jerald

• TRR#218 How Grit and Determination Fueled a $2M Recruitment Firm’s Success, with Brent Orsuga

 

Connect with Mark Whitby

• Get your FREE 30-minute strategy call

• Mark on LinkedIn

• Mark on Twitter: @MarkWhitby

• Mark on Facebook

• Mark on Instagram: @RecruitmentCoach

 

Subscribe to The Resilient Recruiter

If you’ve been enjoying the podcast, please take two minutes to leave a review. Your review is greatly appreciated because it helps us attract a bigger audience and help more recruiters.