Let's take an example scenario
Consider you have a contingent job for a Marketing Manager position with a tech company. The agreed placement fee is 20% of the candidate's first-year salary, which is $100,000.
Setting up Revenue Tracking
Now, here's how you can set up revenue tracking for this job:
Step 1:
Head to the job where you want to set up revenue tracking and click on the Billing tab as shown in the image.
Step 2:
By default, the engagement type will be set up as Contingent. You can confirm this by checking the Engagement Type box as shown in the image below.
If you are changing the engagement type to Contingent, you can just click the dropdown and select the engagement type you need.
Once you have chosen your engagement type and confirmed, click on the "+ADD DETAILS" button you see on the right.
Step 3:
Next, enter the EXPECTED SALARY of the job in its respective field and the Commission Rate involved with it.
The Expected Revenue will automatically be calculated based on your inputs and added to its respective box.
By default, the currency unit here will be taken from the one selected in the settings. You can change the currency unit here by clicking on the dropdown.
The other fields will reflect the same currency unit.
Step 4:
By default, 100% revenue attribution will be set to the Job Recruiter in Contingent jobs.
You can change the revenue attributed percentage by editing the allocation percentage.
You can also click on "+ Add" to add more people for attribution. There are five options to choose from:
Job Recruiter
Job Account Manager
Lead Owner
User Moving the Stage to Hired
Custom User
You will see the attributed revenue for every role adjacent to their name on the right side.
Once you are done adding the details, click on the "Save" button in the top right corner.
Note: Ensure the total revenue attribution percentage is always less than or equal to 100%.
Placing Candidates and Recording Revenue
When you place candidates for this job, you will see the placement record open up as shown in the image below. The placement details will be auto-filled based on the job billing details added by you.
As seen in the image below, on the left side, you see the list of candidates hired. Each candidate will have a unique placement record and you can set different values for them.
Every candidate might have been hired for a different salary. You can add the salary for the candidate in its respective box and therefore change the revenue associated with it. By default, it will display the salary and revenue added while setting up the job.
You can also add a bonus (if involved), and change the job start date and billing date. The default value here will be the date of placement.
If you do not want to track revenue for a placement, you can simply turn off the "Track Revenue" toggle.
Based on the user roles chosen for attribution, the placement record will show how much of the revenue is attributed to your team members. You can change the attribution percentage here.
If you want to record billing with contacts associated with the company/job, you can add them as well. By default, it will pick up values from the job setup page.
Finally, you can even close the job if all the roles are filled.
Recording Revenue
You can click on the job page and head to the billing tab to see the details of all the candidates hired, the revenue obtained from the job, the users attributed, and other placement details.
