Yesterday morning when I turned up at The Shard for our annual strategy meeting, it was shrouded in mist. Not the clearest start to planning our 2019 vision! As the morning wore on, the mist lifted, and we built some momentum.
One of the challenges we grappled with was how to incentivise our recruitment consultants. How do you make things interesting enough to motivate people, but maintain balanced costs and a healthy profit within the business?
We pay strong basic salaries (up to £40,000 for a Principal Consultant) and great commission (20-30%). We work on the basis that our consultants should earn one third of what they bill. We’re also passionate about our consultants’ personal and professional development, offering a clear path of progression with achievable promotion targets.
Couple this commitment on pay with our focus on providing our consultants with the best tools in the business; and the associated costs quickly begin to squeeze your margins.
The trouble is, rightly or wrongly, once you get used to a good basic salary, great commission and the best tools in the business, they quickly become the norm. So how do we change things up and keep our consultants motivated without breaking the bank?
Here are some of the incentives we currently offer our consultants:
Monthly Biller’s Clubs
Hit your monthly target and get an extra half day out of the office on a Friday afternoon to enjoy an all expenses paid lunch and drinks. Each month we alternate between London and Brighton, heading to amazing Michelin star restaurants – it’s always great fun!
Wheel of Fortune
Make a placement and spin our wheel of fortune! You could win anything from scratch cards to a Sonos speaker, but your team mates might be hoping you land on ‘Make the Tea’!
Raffle Ticket Competitions
Key activities such as qualifying a job, sending a CV, and booking an interview each carry a different number of raffle tickets earned, then at the end of the week there’s a draw with prizes!
Beer Fridge & Breakfast
In our business, most people like a beer now and again; and at Hanover we break open the beer fridge on a Friday afternoon (or perhaps when we feel we particularly deserve it at some other point in the week!).
We also balance that activity with something positive and healthy. We provide for the most important meal of the day, with fruit bowls, toast, and eggs.
These incentives work well for us, and we’ll continue to use them throughout 2019, but we’re always keen to hear new and innovative ways to build a fun, happy, rewarding and productive workplace!
This blog post was written by James Burdis, our Director of Operations. Connect with him on LinkedIn.