Your 5 Step Plan to Building a Successful Recruitment Agency
By Angela Sanders Friday, January 24 2014 @ 05:33 AM EST
To build a successful recruitment agency, you should be armed with a watertight business plan, a sound knowledge of the legal aspects governing the industry and an attractive marketing strategy to help your fledgling firm win clients.
Added to this, it should already be clear whether your agency will seek to recruit temporary or permanent staff (or both) and whether you will focus on a niche industry, such as nursing or tax recruitment, for example.
In order to get your recruitment business off the ground, then, take a look at our step-by-step guide and absorb the information you need to make it in this challenging, but always infinitely exciting, industry …
1. Define the recruitment services you will offer
Straight off the bat, it’s crucial to do your homework in order to comprehend the various rewards and difficulties experienced by different types of recruitment agencies. Once ascertained, and you’re certain of the slot your agency will fill, delve into the intricacies that govern the niche, oil industry recruitment, for example, you will focus on.
2. Check out the competition
It may sound obvious, but by taking the time to scope out your competition and determine how they deal with your particular niche, it allows you to gauge whether there’s an opportunity for you to win business. If you find your market is rife with agencies offering similar services as yourself, it may be prudent to change your focus or concentrate your efforts into opening up in a different town/city.
3. Scrutinise your hiring expertise
Your effectiveness in recruiting clients and searching for suitable employees, as well as an unrivalled knowledge of the recruitment industry as a whole, is crucial if you want to make headway in such a competitive marketplace. Consequently, it’s vital that you have built up enough experience to go it alone, with the ability to motivate and train your own employees to the same standard.
4. Evaluate your financial situation
Setting up your own business will involve significant financial outlay – that much is obvious. As a result, it’s important to be honest about your current financial situation and thoroughly calculate the overheads required to get your firm up and running. From staff costs, insurance, rent or marketing, you should have a comprehensive understanding of where your money is going from the off.
5. Find a suitable business location
Ideally, your recruitment business should scout out a central location that is easily accessible for potential clients AND job hunters, and evokes a real air of professionalism. Quite simply, it’s highly unlikely your customer base will enjoy trekking to a grotty warehouse in the middle of nowhere to conduct an important business meeting.