Ways to grow your recruitment agency

December 5th, 2023 | Industry News

As we approach the end of the year, we thought it was time to get some perspective, and see what our recruitment agency partners might be reflecting on in 2023 and carrying forward into 2024.

Running a recruitment agency requires hard work, but much more too: strategy, awareness of new markets and new technology and a willingness to take risks. Here’s a round-up of top tips to help you take your agency into 2024 in the best possible shape.

Build from the bottom up

Great agencies are built on solid back office performance. From ensuring you have a website for recruitment, rather than just a pretty web presence, through to have robust administrative procedures in place so that your talented consultants can keep their focus on finding and placing good candidates, make sure that your agency is structured for success. Things to think about are:

• Scalable support – SaaS recruitment agencies need to have a CRM that will adjust to a changing environment whether it’s changes in legislation, new sectors of recruitment to explore or the chance to hire a great new consultant.
• Intuitive technology – for your consultants, and for any temp divisions that you run, technology needs to be easy to use.

Embrace financial literacy

Being able to read your figures, interpret not only your balance sheets but those of your clients and recognise financial trends is crucial to success in these leaner times for recruitment. Things to think about are:

• Having data at your fingertips is vital, being able to take a snapshot of your management accounts helps you see how your business is performing
• Setting regular times to review your overheads can stop you losing track when business is booming, so automated processes that remind you to look at your financials, might be essential.

Work on your culture

Your agency’s culture and processes are what allow you to collaborate as a team and grow not just your business but your sense of being a successful group. It can be a scramble to build a truly effective team, and let’s be honest, most agencies have lost one, if not more, consultants to the clients they service … it’s an annoying fact of life, and it’s one that has to be faced! Things to consider:

• Thinking of your team as a strategic asset can feel cold, but planning your team for growth is essential – not only do you need to hire the right people, you need to keep them happy, or risk losing them to rivals, or clients. Good pay is essential, but just as important are a good working environment, flexibility in the role and a sense of satisfaction. Online recruitment software can give your consultants the chance to work hours that suit them, ensuring their work-life balance is respected. And remember the best recruitment CRM isn’t just for your clients, you can use it to spot talent for your own agency too.
• Being clear about your core values is something that you need to drive through your business to find, hire and keep the best consultants. Be clear about your mission and values and make sure you can live up to them.

As your consultancy moves into 2024, reviewing your track record over 2023 can help you ensure that you’re in the best shape for the year ahead.