Recruitment Phrases & Acronyms

ABR  – Annual Business Review

APAC – Asia Pacific

ATS – Applicant Tracking System

AWR – Agency Workers Regulations

BeNeLux – Belgium, Netherlands, Luxembourg

C&I – Commerce and Industry

COB – Close of Business

CRM – Client Relationship Manager

D&I – Diversity and Inclusion

DACH – Germany, Austria, Switzerland

EMEA – Europe, Middle East & Africa

FMCG – Fast Moving Consumer Goods

FS – Financial Services

GP – Gross Profit

I&C – Industry and Commerce

IR35 – A tax legislation for contractors

JD – Job Description

KPI – Key Performance Indicator

KYC – Know Your Client / Candidate

L&D – Learning & Development (training)

MBO – Management Buy Out

MBR – Monthly Business Review

MSP – Managed Service Provider

NDA – Non Disclosure Agreement

NED – Non Executive Director

NFI – Net Fee Income

OTE – On Target Earnings

QBR – Quarterly Business Review

P&L – Profit and Loss

POC – Point of Contact

PRC – Potential Recruitment Consultant

PSL – Preferred Supplier List

ROI – Return on Investment

RPO – Recruitment Process Outsourcing

SLA – Service Level Agreement

TMT – Technology Media Telecom

USP – Unique Selling Point

YTD – Year to Date

Billings – The amount of revenue generated

Blind a CV – Take all details off a CV e.g. the candidates name, former businesses, contact details etc. The goal is to make the CV attractive to a prospective client but untraceable so they can’t find the person it represents.

Blue Chip – A company with an international reputation

Blue Collar – Is an employee who performs manual labour

Book – How many contractors someone has out at one time

Canvassing – Making a client sales call

Charge Rate – The amount of money a client is charged per day for having a contractor onsite

Closing – Process of gaining commitment and agreement from either a client or candidate

Cold Call – Make an unexpected call to a potential client offering our services

Cold Desk – A market that hasn’t been worked before; has no clients, candidates and no real market presence

Contingent – Fee payable when the successfully placed candidate has accepted their role

Contract – Contract based employment

Counter offer – An offer from the candidates current business in response to another offer the candidate may have received

CRM – Database

Cross Train – Training a consultant from one area of specialism to another

CV Stripping – Taking information from someone’s CV / profile e.g. places they have previously worked

Day Rate – The amount of money a contractor charges per day

Direct Resourcing – Companies co-ordinating their own talent attraction

Dual Desk – Work both Permanent and Contract markets simultaneously

Fixed Term Contract – Pre agreed amount of time which could be between 3 months and 2 years, paid pro rata on an annual salary

Flip – Turning a senior candidate into a client

Forward Order – The value of a complete contract deal

Framework Agreement – A fixed time agreement with a number of recruitment businesses – traditionally Public Sector

Freelance – Contract based employment

Gardening Leave – an employee’s suspension from work on full pay for the duration of a notice period, typically to prevent them from having any further influence on the organisation or from accessing confidential information

Gatekeeper – The person to get past in order to speak to the decision maker e.g. the receptionist

Gross Profit – This is the whole of the permanent fee and the margin of a contract deal

Guarantee – Short for guaranteed commission. An advance payment on commission for a set amount of time (usually given to someone walking away from a contract book)

Head Hunt – Calling passive individuals regarding a specific opportunity

Hot Desk – A desk that has got active roles to work, a strong candidate database and good market traction

Interim – Contract based employment

Internal Recruitment – Companies co-ordinating their own talent attraction

Job Board – A online candidate database which has adverts from agencies and direct businesses e.g. indeed.com or monster.com

Job Spec – or job specification, detailed information about the job

Lead – A lead is information you may not have known about someone hiring. Traditionally this would be the name of the business, the vacancy they interviewed for, who they had an interview with (name of the manager), what the role was paying etc. 

Mail Shot – A blanket email sent to a large number of people

Margin – The difference between the charge rate (the client) and the day rate (the candidate)

Mark Up – The amount added to the cost of the price of a contractor

Market Map – Plotting individual potential candidates

Net Fee Income – The whole of the permanent fee and the margin of a contract deal

Niche Supplier List – A pre-approved supplier to a business, that only receive specialist niche vacancies

Non-Compete – Contracts that stop a former employee contacting their clients and candidates

Offshoring – Moving jobs from one country to another

Onboarding – When a starter joins a new business and has to do paper work, induction etc

Onsite Recruitment – Companies co-ordinating their own talent attraction

Org Chart – A diagram that show the structure of an organization and the levels individuals sit at

Organic Growth – Growth of the business using its own profits with no outside investment

Organigram – A diagram that show the structure of an organization and the levels individuals sit at

Perm (Permanent) – Long term recruitment solutions with employee benefits

Pitch – A presentation or a meeting designed to allow you to sell your offering

Push Factor – Reasons someone is looking to leave their current employer

Pull Factor – Reasons someone is interested in joining a new business

Pre Close – To “close” before the “close”. Agree potential parameters of the offer that they would accept

Profit Share – A bonus paid dependent on the profitability of the team

Rebate Period – A period of time where if a candidate is to leave their role a refund or partial refund is due

Recruitment Process Outsourcing – An employer delegating aspects of the recruitment and retention to a 3rd Party (An outsourced onsite recruitment partner)

Referral – Someone who you have been recommended to speak to – traditionally name and mobile number

Resourcing – Finding candidates and qualifying them for a vacancy

Restrictive Covenants – Contracts that stop a former employee contacting their clients and candidates. In essence an agreement to limit a former employee taking business for their former employer for a period of time.

Retainer – An upfront payment made for a search, traditionally a third of the fee on up front, a third on first interview and a third on start date

Reverse Market – Selling a candidate to the market place in an attempt to bring on clients

Role – Job

Runners – The amount of contractors working at one time

Spec a CV – To send a CV to a list of cold potential clients in an attempt to arrange an interview 

Spot business – A placement that is done on a one off or a sporadic basis

Starter – An individual that is starting new employment

Team Override – A bonus paid to a manager which correlates to the billings of their team members

Temp (Temporary) – Contract Based employment

Tender – A formal written offer to carry out work

Vertical Market – A market comprising of one particular specialist industry

Warm Desk – A desk that has got traction with some clients and candidates

White Collar – Is an employee that works in an office or other professional environment and often wears white shirts to work.

180֯ Consultant – Either fully focused on resourcing candidates or fully focused on business development

360֯ Consultant – Full life cycle consultant involved in the business development and the resourcing of candidates