Ebola, Wars on Terror and Iron Ore Precipitous Slides and Not Processing Waste
Well if nothing else we can say that we work in an industry of constant change, challenges and opportunity.
It only takes turning on the nightly news to hear numerous stories that in one way or another impact the global resources industry. Be it the challenges that the Ebola outbreak will bring to explorers and producers caught up in it’s path or the age old argument that “War is good for the US economy” (an economy of course driven by consumption) which may in turn lead to demand and manufacturing pick ups in China and other economies. Or tan an iron ore price that has been on a slipper slope for some months but which is likely in fact being driven by the players most likely to benefit from a cleansing of the junior end of town.
Its not an industry for the faint hearted! And yet it also offers an excitement, pioneering spirit and camaraderie like no other.
Does your operation process waste through the Mill on a regular basis? I’m guessing not! In fact, I’m guessing that someone got a fair bollocking if you ever did. Not a lot of financial sense in it. Well you may be surprised to know that at Globe 24-7 we have for many years conducted our own form of waste processing in-house. It’s called contingent fee recruitment. It’s basically a model where a client engages us to search for candidates for a vacancy on a basis that we only get paid for a successful placement. In its ugliest form it spits us against our competitors in a mad race to slap resumes in front of the client in the hope that we get in first with the sometimes scarce pool of quality names for a particular role, or as some of our competitors do to inundate the Client with poorly matched and even more poorly screened candidates in a shotgun approach. Even in its most desirable form – what we call exclusive contingent (we are the only firm working a role), it often ends in a client changing their mind on a role, filling internally or through word of mouth or not proceeding for any other variety of reasons. We virtually never have any control over the outcome and yet we often spend many many days of our team’s time and significant company resources to earn nothing in revenue. It’s our version of Milling Waste. There are very few examples of it in the business world – working for nothing. Some will say Pro-bono lawyers are the same but they are not for one key reason – their work is under their control – ultimately they are backing themselves to win the case for their Client and take a percentage of the damages awarded. The Client is invested in them winning.
So whilst we may never completely remove ourselves from contingent recruitment in the right circumstances, as a team at Globe 24-7 we have recently decided that we will not be offering contingent terms to new customers and we’ll be transitioning existing customers away from it. We continue to build an organisation that is built to last and which delivers the best outcome for you – our most important customer.
Good luck on the roller-coaster for the next little while and please do drop in for a coffee any time you’re in town. Otherwise we look forward to visiting you soon.