How is the FeeTrader.com Split-Fee Network and candidate database free
of brokerage fees? What's the catch?
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There is no catch. We subsidize the service through advertising and additional fee based services.
It's a great win-win situation for everyone. The more recruiters who use FeeTrader.com, the greater
success they will see on the split-fee network.
Why should I join Feetrader.com?
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Because it is a state of the art integrated recruiting tool that gives outsourced/agency-side recruiters:
1) efficient and direct access to employers seeking recruiting assistance,
2) the ability to partner with other like-minded recruiters and increase their chances of finding or
placing the perfect candidate for their clients and
3) other essential recruiting tools such as job postings!
Does Feetrader.com receive any piece of the fees?
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Feetrader.com receives no part of fees generated using the split-fee network or DRP (Direct Relationship Plan) employer posted jobs. You earned it so you keep it.
How do I get connected with an employer or a split-fee partner?
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After conducting a search through our portal, you simply click the "bid on job"
(if employer posted) or "split-fee request" (if recruiter posted) tab which will enable you to send
a personalized email with details about your capabilities and potential candidates.
Can I work directly with the Employers?
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If your bid is accepted (as an upgraded recruiter), all employer and manager contact info is provided
and your direct relationship is established. You would never need to work on a req before having the
direct manager and employer contact info. You would bid based on your interest in the job (or knowledge
of qualified candidates) and upon acceptance then speak and work with the employers directly!
Is there a standard contract to use between the recruiters and employers
or split-fee partners?
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Employers will have an agreement posted with the jobs which is visible to the recruiter prior to bidding.
For split-fee jobs, FeeTrader.com provides a sample agreement that you may customize at your discretion. You
may also use an agreement of your choosing.
How does FeeTrader's service increase my business?
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Beyond unlimited job posting, by allowing easier access to employers (and other recruiters) to market
your abilities and candidates. All recruiters have excellent candidates that they will never place
because they do not have the appropriate clients or job reqs. FeeTrader will open up the market so
recruiters with great candidates have a more efficient means to communicate that to interested employers.
Will I win every bid?
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Of course not. However, if you have a compelling pitch and bid, you will gain additional business you otherwise
would not have and in much shorter time than cold calling. Even if you win only a small percentage of your
bids, your return on investment in both time and money will be significant. You may do much better than that.
How do I increase my chances of a winning bid?
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Select positions that cater to your strengths (or ideally candidates in hand) and send a compelling
pitch and bid. If you have a good candidate already, provide a quick profile within your pitch and bid
for best results. More important than price, employers are interested in recruiters' abilities and
candidates. They will not usually select bids based on price alone.
How do I bid on an employer posted job?
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From the home page, login to your account using the email and password you signed up with. Then on the
"search jobs" page any of the yellow shaded jobs are employer posted jobs and are open for bidding. To
bid on an employer posted job, click on the job title link and if you have upgraded already, you will
see a "bid on job" button with a "bid instructions" link next to it. To bid, click the "bid on job"
button.
Why are recruiters limited on bids?
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FeeTrader is committed to providing an effective tool for both the recruiter and the employer. The
monthly limitation on bids is simply so recruiters are thoughtful on selecting which positions are best
suited for their competencies. The recruiter benefits here as the model ensures a reasonable number of
competing bids. Otherwise, many recruiters might bid on every position without thoughtful consideration
and that lack of "quality control" would hurt both the recruiters and the employers.
Who do we Bill/Invoice?
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You bill the employer directly for DRP (Direct Relationship Plan) jobs or the partner recruiter for the agreed upon fee upon successful completion of the placement. For SVP (Single Vendor Plan) jobs, FeeTrader will handle the invoicing and pay according to the Terms of Use.
When do we get paid on our invoice?
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For DRP (Direct Relationship Plan) jobs and split-jobs, it is to be mutually agreed upon between you and the employer or partner recruiter. For SVP (Single Vendor Plan) jobs, FeeTrader requires payment from the employer within 45 days and pays the successful recruiter net 60 days according to the Terms of Use.
Why post here?
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Because you have complete control over with whom you wish to work. We also anticipate this will be the
largest split-fee network in the world so get involved and be a part of that! Use each other's assistance
in filling challenging positions which may be outside of your sweet spot or to speed the process of making
a placement. This will invariably enhance your relationship with your client (and increase your chances
and frequency of generating fees). Split-fees ultimately add to your overall billings!
Is there any long term agreement?
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No
How many jobs may I post?
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As many as you like.
Do I have to work with all the firms that solicit to work on my job posting?
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No, after you receive an email from a potential partner, it is your decision with whom you decide to work.
Furthermore, the job poster's identity can be concealed until s/he decides to connect with a partner.
I've made split requests and never heard back?
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As FeeTrader is simply the medium thru which parties meet, there is no way to really predict how individuals will
respond to your requests as it depends on too many variables that we'll never know. Some do post their contact info
so keep an eye out for that with interesting posts so you can call them. We suggest never working on any
requirement (even calling a single candidate) until you've connected with a poster of a job so you don't waste any time.
Also, be specific in your requests as to your abilities to assist with the particular job req. In general, split
partners are more interested in taking the time to work with new partners when they have a compelling
message (such as "I work this space often and have an excellent pipeline of candidates already" as opposed to the
less compelling "this job sounds interesting. I'd like to work on it"). We suggest keeping your requests compelling,
brief and specific to the job post for optimal results.
