If you’re passionate about creating job opportunities and make dreams come true for many the unemployed in society, you don’t need a multi-billion company to do that — but a well-structured recruitment agency.
Recruitment agencies essentially help their clients to fill open job positions with qualified candidates in addition to providing better career options to job seekers. The client’s and candidate’s success is what drives most recruiters to run a flourishing recruiting agencies.
Though this article won’t teach you how to pick the best agency name, it’s going to outline the essentials you need to consider when setting up your recruitment agency.
1. Find and Dominate Your Business Niche
Determining your industry niche is the first place to start with when opening a recruitment agency. Which type of employment agency are you looking to operate — temp agency or specialist agency?
Temporary recruitment agencies help clients find the right candidates for short-term job positions often cause by sudden employee turnover, medical leave, maternity leave, etc. On the other hand, a specialist agency focus on a particular business niche such as electronics, digital marketing, management, information security and much more.
Specialty agencies work closely with specialist companies to source the right candidates. Build a strong network within your niche, equip yourself with the right information and knowledge to effectively provide your service.
2. Evaluate Your Competitors
After narrowing down to your specific market, you should evaluate other competing staffing and recruitment agencies in your area by assessing the strength, weaknesses, opportunities and threats available.
Also, you can use the 4Ps — product, place, price and promotion to assess your competition and understand the areas you need to improve to have an edge. If you know how competitors operate you can develop ways of beating them and position your business for success.
3. Define Your Agency Goals
A successful recruitment agency is not only built on experiences and high-rate candidates getting employment opportunities, but also clear, realistic and objective business goals.
Embrace a comprehensive business strategy for your agency and be willing to adjust to suit changing industry needs. Like any business, you should come up with both short-term and long-term goals. For instance, you could plan to achieve an increased client base by 10% in 3 months. Or, expand your niche in the next 6 months.
4. Establish Marketing Plans
Like any business out there aiming for success, proper marketing is essential. And this starts with your business logo and colors. Choose a catchy — simple or sophisticated logo, and good colors to define your brand.
Since the first impression contributes a lot towards long-term customer relationships, ensure you make a good one by developing a marketing structure to promote your services. There are a number of marketing tools you can use including social media, radio, newspaper and billboards.
Connect with potential clients and candidates through career platforms such as LinkedIn for high-quality leads.
5. Adopt the Use of Technology
There are many technology tools designed to facilitate recruitment process of potential employees. Investing in the right tool can help to reduce administration costs and time while ensuring efficiency staffing.
For instance, you can choose to use a tracking system that collects candidates’ information and keep tabs of potential candidates. This makes the recruitment process much faster, simpler and effective, and keep your work structured and organized.
6. Develop Keen Interests in People
A good recruiter has an eye on the right candidate. As a recruitment agency owner, you should invest in experience recruiters who can help you identify the right candidates for your client.
These are some of the factors you need to consider when setting up your own recruitment agency. However, there are a host of other things you’ll need to keep in mind during this process like budget laws and regulations.