7 Steps to Starting Your Own Recruitment Agency
Perhaps you’re thrilled by the idea of having a recruitment agency and you’re considering setting up yours. I admit that the rewards are worth it when they finally come to fruition. However, you must understand that a lot has to be put in place before you begin to reap the fruits of running a recruitment agency. Apparently, running a recruitment agency is not just about identifying and contacting candidates for clients.
To stay relevant within the space, you must provide clients with candidates that fit perfectly into their organization; while also providing great career offers for your candidates. Without this win-win phenomenon for your clients and candidates, winning becomes far-fetched for you as a recruitment agency. If you aspire to start your own recruitment agency, these are 8 essential steps that you must take note of.
1. Carve Out Your Niche
First of all, it behoves you to determine your area of speciality within the industry. There are a wide variety of areas you can choose to settle for. You could decide to focus on IT-related staffing. You may also decide to focus solely on providing workers like drivers/riders, housekeepers, marketers, and so on. Again, you may decide to be the go-to person for either fresh graduates, mid-level managers, or for senior executives. Your network and the kind of knowledge you’re equipped with would inform your decision on what to ultimately settle for. In all, carving out a niche would be a source of strength for you in the long run.
2. Assess your competitors
Once you have attained clarity on the market you want to focus on, you should then seek to know the competition you’re up against. To help you draw a forecast of how well you would do in business, you should ask yourself questions that would help you understand the levels of your strength, your weakness, your greatest opportunities, and your weaknesses (SWOT analysis). Again, you should critically analyze your product, place, price and promotion to help you determine those areas where you need to step up your game. Before diving into business, you must have a clear knowledge of your capacities and those of your competitors.
3. Assess your finances
Starting a recruitment agency is not as cost-intensive as some other startups. However, it beckons on you to clearly iterate such costs as those of office space, office equipment, staff salaries, marketing costs and so on. You should figure out all these costs and seek financial advice if you must.
4. Research laws & regulations
Usually, big organizations tend to rely on legal practitioners when it comes to the legal aspects of their business. But as a startup, incurring legal costs might be quite a burden on your budget. As a result, you should spend adequate time to research the laws and regulations that guide your activities as a recruitment agency. Being aware and at par with the laws guiding the industry cannot be overemphasized.
5. Come up with marketing strategies
In this regard, you would have to come up with brand identity materials for your agency. Once these are ready, you would then have to come up with marketing plans to help put your business in the face of potential customers and applicants. In designing your marketing plans, you need to begin with the end in mind. Hence, you need to come up with an all-encompassing plan with a step by step approach of how you intend to achieve your ultimate goal. This plan should include your goals, the required tools, your channels, your audience personas, and so on.
6. Invest in technology
The rate at which technology drives the world today cannot be underestimated. Investing in the right set of technological tools would help you save a great deal of time and money. One of such tools that is specifically designed for recruiters and outsourcing agencies is OutsourceHR. OutsourceHR is an automated HR business solutions software that helps to take care of your outsourcing needs from recruitment to the point of disengagement. The solution has been used and proven to be a valuable tool by most of the largest outsourcing firms in Nigeria.
One of the priceless features of OutsourceHR is the fact that you can send interview invites to thousands of applicants with the click of just one button. The solution also helps you to filter candidates based on various metrics and gives you room to sort candidates into various pools. With OutsourceHR, it becomes a lot faster and easier to manage applicants and keep track of your work. Ultimately, you have no business with all that excessive paperwork that’s commonly associated with HR processes.
7. Invest in people
Finally, you must invest in people if you want to build a successful recruitment agency. If you want to deliver value to your clients, you must recruit professional recruiters to run your operations, and you must invest in them.
Once you have dotted the Is, crossed the Ts, and have tied up your visible loose ends, then it’s time to start up your recruitment agency. If you’re still worried about the stress and how to go about things, kindly follow the link to learn more about how to automate your business processes.