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Jules Haughey posted in the group Coaches and Mentors
Hey everyone. Wondering if anyone can help me with consultancy fees for outsourced work?
I’ve been working with a newly established consultancy business. Until now I’ve been paid day rates or project rates.
I’ve been invited to lead, build and manage the HR consultancy.
What are standard / reasonable fee structures?
1. If they source work and give it to me to complete, what is a fair percentage?
2. If I source work and complete it, what should I pay them given that it’s under their ’brand?
Thanks in advance for any guidance, much appreciated!
6 Comments-
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I came to the conclusion a few years ago that the biggest imepediment to earning money was me being prepared to ask for a bigger number. Its very easy to play safe, especially when you need the work. And I did just have a client say No because I was too expensive which either indicates I’ve found the top of the market or I didn’t execute my ask well enough (probably a bit of both.)
I’ve worked with partners and agencies (occasional contract type work I’ve done) were th…
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Hi Jules,
I tend to find that rates vary dependent on the consultancy I’m working with. I do a lot of delivery for one in particular and I’m being paid a third of what the client is invoiced, and in my experience that’s pretty standard. If I were to introduce a new client to them I’d consider negotiating two thirds for any work I delivered. This was also the business model we used for our associates in my previous role, which was a permanent position in a leadership de…
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Hi Jules Haughey – a good ’primer’ article is here: http://staging.the-portfolio-collective.com/insights/how-much-does-portfolio-work-pay
You could also come along to one of the weekly Pathfinder Checki-In calls that happen each Monday. Thses are the kinds of problems we discuss as a group every week.
Ben
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Jules – I’d be happy to help and I used to run an HR consultancy many moons ago! Feel free to book a call here https://calendly.com/zarir-zed-vakil/30min
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A USA perspective that may or may not apply … I find that so many of these kinds of relationships end up around +/- 15% … small enough for the giver to not give it much of a 2nd thought (still getting 85%) and large enough for the receiver to feel like its a decent return on little effort). That said, if it is your background/track record/experience./brand they are using to supplement their own to have the credibility to add/build this new practice then you should be bold in not un…
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Jules Haughey posted in the group HR Experts
Hey everyone. Wondering if anyone can help me with consultancy fees for outsourced work?
I’ve been working with a newly established consultancy business. Until now I’ve been paid day rates or project rates.
I’ve been invited to lead, build and manage the HR consultancy.
What are standard / reasonable fee structures?
1. If they source work and give it to me to complete, what is a fair percentage?
2. If I source work and complete it, what should I pay them given that it’s under their ’brand?
Thanks in advance for any guidance, much appreciated!
2 Comments-
Hi Jules, great question! Tagging other HR consultants who might be able to offer some advice – Eva Phillips, Emily Koolen, Claire Koryczan, Lucy Warman, Stacey Gibson, Fernando Cuevas
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Hi Jules! Congrats on being asked to lead the HR Consultancy! I tend to work much more in L&D now but from time to time do get dragged back into HR as I have a large network of Associates that call on me to help out with hospitality clients. I always price based on my time on a project basis as I think its important to factor in your individual experience/knowledge! Personally I would steer clear of a % agreement as then you are beholden to their negotiation skills with the clients! If…
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Hi Jules, this is a great question and a topic that so many consultants struggle with – tagging some members who might be able to give you some advice – Paul David Mather, Andrew Wainstein, Saira Chaudry, Ben Legg, Anthony Donataccio, Julia Poncar, Emma Jelley, Allan Kelly, Ilaria Vilkelis, Shamir, James McKerracher, Nicola MacPhail