An industry informal told me that about 5
years about, a top Singapore headhunter that belongs to a very reputable
company top billing is about 1.2 million dollars per year. However, recent data
of the top headhunters in Singapore had shown that the top billing is about 600K,
that is about 50% of the 1.2 million dollars billing!
This data given to me was not verified and
according to what I have mentioned in the market
tumour many years back, I am actually not very surprise of this is happening.
Here are some of the reasoning why this is happening:
1) Market Tumour effect – People who have read
about this will truly understand why any Singapore headhunter will never make
their way to an interesting billing per year, simple because the statistic is
never good. The chance is so low that the headhunters will slog until so hard
and the return will never b there.
2) Not sufficient Training – There are not enough
training facilities available in the market and of course, the headhunting
companies many of them have ZERO interests to send their headhunting for any
advance training or they simple do not know that it exist!
3) Overwhelming New Players Flooding in – Although the
Ministry of Manpower had revised the requirements for new employment agencies
to be registered, the headhunting industry where the salary is more than
S$7,000.00 per month, the entry level is actually very easy. The banker’s
guarantees required is only S$20,000.00 compared if you are to operating a
normal recruitment agencies, your bankers guarantees is actually at S$60,000.00.
This allows a lot of new players to enter and with that, more players with
constant number of clients, it definitely gets more competitive and more price
slashing will happened.
4) No CEI Training or Exam needed – As the Ministry
of Manpower had indicated, since headhunters are working on Salary of
S$7,000.00 monthly salary job assignment, they headhunters NEED NOT have to
take the CEI training or Exam, this allows many people who are in different
industries to enter this industry very easily.
5)Wrong
Positioning: Many Singapore headhunters actually work on many job assignments
which they are not specialised on, with that, their portfolio are actually not
focus and becomes a jack of all trade and master of none, and with that, they are
not able to have a synergy effect of FOCUS and the ability to close more cases
are actually lessen.
Dougles Chan is The Recruitment Guru for the
recruitment industry in Singapore, providing personal one-to-one coaching and
mentoring to be successful in the recruitment agencies and headhunting
industry. He can be contacted at (65) 93880851 or email at dc@dougleschan.com
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