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Getting a recruitment business up and running isn't easy. Whether it's navigating around restrictive covenants, building a new client and candidate pool, cashflow, hiring, training, marketing, legals etc - there's a lot to do and a lot of it's new. Don't act in haste and repent at leisure - get the early calls right
Here are a few of the common threads we see in early stage recruitment businesses that are firing on all cylinders
1. Choose the right sector/market
There is still a lot of opportunity recruiting in the UK but too many UK sectors are over brokered with decreasing average fees. In short, the clients don’t really NEED your service. Many of the best early stage recruitment businesses I see embrace technology to work the US/European/APAC markets from London and are really thriving generating more placements per head at a higher average fee. Due to the weak GBP, London is now a lower cost delivery model.
2. Hunt in packs
4 different recruiters working 4 different markets is really 4 different businesses. Chose what you want to be famous for and work together to build niche candidate pools that will benefit both your clients and your consultants, present and future.
3. Niche Talent pools
When you focus on niche candidate pools your data becomes more valuable. Be sure it always goes on your CRM. Create a culture where you value your data.
4. A’s hire A’s and B’s hire C’s
Work extra hard at the start to hire the best people. Be clear on your vision for the business and the part your consultants can play in growing the business. If you get your first few hires right you have a much higher chance of success! Work extra hard to get this right and don't compromise.