Although the article talks about recruitment and the flaws of how fees are calculated within the contingency recruitment model.
The context of the article got me thinking abut our business and how we charge for supplying temporary staff to our clients.
It also reminded me of the following quote by John Ruskin, a quote that was shared with me many moons ago:-
“It’s unwise to pay too much, but it’s worse to pay too little.
When you pay too much, you lose a little money – that’s all.
When you pay too little, you sometimes lose everything, because the thing you bought was incapable of doing the thing it was bought to do.
The common law of business balance prohibits paying a little and getting a
lot – it can’t be done.
If you deal with the lowest bidder, it is well to add something for the risk you run, and if you do that you will have enough to pay for something better.”
A friend of mine used to have the above quote printed on a board, in pride of place in the reception of his used car business.
When you read the words and take them in, it makes perfect sense.
We utilise the context of the quote when we are supplying temporary staff to our clients. We will never be the cheapest, but we will guarantee that the staff we provide will be capable of doing the job our clients intend them to do.