We have worked with many Recruitment Businesses over the years and have identified 5 key tips which will help to make your new recruitment business a success:
1) Build trust and make your client’s life easier
The recruitment industry is a competitive one and there are, unfortunately, a few recruiters who do not necessarily give the industry a good name by wasting time sending candidates on roles which are not suitable and churning CVs. Don't be one them. Build up trust and you will be respected and your clients will think of you first when the next opportunity arises.
If you adopt a consultative approach and work in the best interests of your clients and candidates you will build up a strong reputation and trust within your marketplace which will help make your recruitment agency a success.
2) Be prepared for 'No'
Don't be afraid to hear the word 'no' as people rarely mean ‘no’ as a definitive answer and often it means ‘Not right now as we have a PSL', or 'We’re not hiring at the moment”. Sometimes we are so disappointed and become disheartened on hearing ‘no’ that we just want to move onto the next call, before understanding the reason.
You can however, use their 'no' as a way to dig deeper and find out where they are now and what they may need moving forward. On average it takes 7 touch points before the prospect will give their business to you, so you need to find ways to keep in contact. Make a diary system to call those prospects who say ‘no’ in 3, 6, 9 or even 12 months' time.
3) Plan your first Six Months Cash Flow
When you start a recruitment agency, your initial cash flow will be vital. Many of your customers will have payment terms which will vary between 30-120 days. If you have weekly wages to pay, this means that you will need to fund the gap between payroll and receiving payment on your invoices.
You will need to be able to access to funds to help support your cash flow. Recruitment invoice finance could be the solution, by providing you with cash as soon as your invoices are raised, full back office support and protecting your customers against bad debt. To speak about this simple cash flow solution in more detail please click here.
4) Learn and understand the industry you will be recruiting into
Understanding the nuances between particular roles and the skills involved within that industry is crucial, as this will help to set you apart from your competitors.
Your Client and candidates will expect you to have an understanding of their industry and if it is a field you are not familiar with you can get a head start by learning as much as you can from publications online and business guides. Your ability to speak their language will help you to build rapport and develop relationships.
5) Invest in technology and promote your brand
Do not underestimate the need to promote your brand. Through the use of your website, Search Engine Optimisation and social media you can increase brand awareness and give potential clients and candidates’ peace of mind that you are an established business with a visible presence in the market.
Technology will also play a major part in the future of recruitment with recruiters being able to offer their expertise to clients in any location.
If you would be interested in hearing more about how we can support your new temporary Recruitment business, please get in touch by email here or call our team on 01908 268888.