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Starting a Recruitment Business in 2017? What is happening in the market and what trends are we to expect this year?

By January 17, 2017 No Comments

Starting a Recruitment Business in 2017?

What is happening in the market and what trends are we to expect this year?

 

The Market

If you are still wondering if you should or shouldn’t set up your own recruitment agency in 2017, then you should read this article…

Do you know that Companies House has reported a record of 4,529 new recruitment businesses launched between January and December 2016? It represents an increase of nearly 14% over the same period in 2015! So what does it mean?

Despite the unpredictable consequences of the UK’s exit from the EU, both the economy and recruitment hiring has remained strong which has encouraged recruitment entrepreneurs to take the plunge and start their own recruitment business.

With a total of 26,901 recruitment agencies currently registered in the UK, The Recruitment & Employment Confederation (REC) has announced in December that the industry is now worth £35.1 billion. Even more good news is that 2017 is predicted to be another booming year for most recruitment sectors.

But with so many recruitment agencies in the UK, how can you possibly stay ahead of your competitors?

 

The Trends

Last year, a strong demand for talent has forced recruitment agencies to think and work differently. Gone are the days when recruiters could just sell their services to clients and candidates to close the deal. Recruitment has changed. It is not about cold calling anymore. It is about marketing yourself and your agency.

More than ever, Recruitment business owners and recruitment entrepreneurs need to know how to position their recruitment agency in their respective market. Targeting the right people, at the right place and in the right time remains the absolute priority.

Recruitment in a Box gives you the 4 main trends that savvy recruiters should imperatively focus on this year.

 

  • A strong social media presence.

The more you are seen, the more people will gravitate towards you… Who your audience is, where can you find it and how can you engage with it are the vital questions you must be able to answer to.

Using Social Media in Recruitment is a long-term strategy to expand the pool of talent available to you rather than a last-minute initiative to action when a position needs filling. Set aside a couple of hours each week to build your online presence as a recruiter.

Having a marketing strategy will make all the difference in your business growth in 2017. Generating traffic to your website by sharing and creating articles and videos, creating powerful emailing campaign to your candidates (passive and active), Being seen on the blogs, forums, magazines and other platforms used by your audience, networking by actively participating to professional events…are as many tools you have to use this year if you want to remain in the competition.

For more details on how to create an efficient social media campaign, read our article “Build a Social Media Strategy for Recruitment Agency

 

  • Sourcing passive talent

Although the majority of recruitment firms have reported an increasing net fee income, it seems that the number of recruitment agencies reporting equal income has grown from a year ago. The main reason would have been the difficulty for recruiters to source talent.

To fill this gap, recruitment agencies tend to focus on recruiting passive talent. In a recent survey done by Linkedin Talent solutions, it appears that 60% of the actual workforce is NOT looking for a job. However, 70% of them are opened to discuss a new opportunity if it presents a better salary, life balance or career opportunity. Only proactive sourcing will allow you to find this talent. But you need to be careful on how you are going to approach them.

The key to recruiting a passive candidate is to get their attention and get them excited about speaking with you. Your first approach is decisive so the more you would have prepared your pitch, the best chance you will have to get a proactive conversation. Remember that the person you are about to call has probably never heard of you before and more than likely will get another 20 calls from other recruiters.

Be different, be better. Introduce yourself, your company and the reasons why you are reaching out. You have found in this person a talent, a specific skill and background that you do like. Tell him! Show him why your jobs are relevant to their experience and how it could represent a perfect opportunity.

Sourcing passive candidates will give you the opportunity to build a strong pipeline of candidates that you will be able to contact immediately when a vacancy arrives on your desk!

 

  • Quality Placements

If you want to play the long game, if you have long term goals and want to succeed, then you should never ever forget the importance: QUALITY.

Don’t forget that one happy client will bring you ten others while just the one unhappy client could take 100 prospects away from you.

Thousands of new businesses open during a year but half of them close or do not make profit because they do not know how to differentiate themselves from their competitors.

Recruitment is all about building long lasting relationships with your clients and candidates. By working closely with them, by providing the best advice, by being flexible and proactive, you will become more than a recruiter but a strategic partner.

 

Recruitment is an industry that delivers amazing benefits to any entrepreneurs who want to become their own boss. Recruitment in a Box can help you to minimise the risks associated with launching your very own recruitment business. Effectively we become a supporting hand to help you market your agency and engage efficiently with both your clients and candidates.

To have a chat with one of our experts in marketing and strategy, please call us on 0203 417 3101 or email us at info@recruitment-in-a-box.com

 

 

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