TOP DRIVERS FOR AGENCY GROWTH
With uncertainty still weighing heavily on the market as the impact from COVID-19 seems never-ending, it is more crucial than ever for recruitment agencies to review their processes and strategies to ensure that they continue to thrive.
With this in mind, what are the top drivers for agency growth?
The most important element of any recruitment agency is the passion of the owners. As the saying goes – “Do what you love, you’ll never work a day in your life”. If you truly enjoy and are passionate about your business and recruitment, then putting in the graft will feel effortless. Furthermore, dynamic and enthusiastic business owner will motivate a workforce and their positivity will permeate through the business.
The Right Staff
Appointing the right staff to the business is not just about finding the highest billers – although that certainly plays a part!
It’s also crucial to find recruiters who’s morals and ethics match those of the business and the owners. If your recruitment agency is a small sole trader or partnership run business which operates locally and appeals to the local market, then a corporate recruiter who operates nationally may not be the best fit.
The Right Sector
Much like selecting the right staff, choosing the right sector into which you wish to place freelance workers is not simply about the jobs that are easiest to pick up.
From our experience, a niche recruiter with expertise in a small skilled sector can experience greater financial growth than an agency placing tens of temps into a more competitive sector. It is wise to play to your strengths! An agency that selects its target industries on the skill sets of its consultants is likely to obtain a solid footing and experience sustained growth.
The Right Tech
The tech that agencies support themselves with is of ever-increasing importance. This can range from internal CRM’s – to websites – to back office provisions. If you want to read about 7 Benefits of CRMs at recruitment agencies, please click the link.
Quba Solutions offer our agency partners our self-built DynamiQ back office portal, which provides business performance information, credit limit and debt management. In addition, we provide the first brandable eTimesheet portal on the market, downloadable from the App Store and Google Play, helping to significantly reduce the admin burden on our agency partners whilst maintaining their branding throughout the timesheet process.
The Right Finance Partner
Recruitment finance is not just about borrowing money, it is also about borrowing money in the most suitable and beneficial way. A factoring facility that may work for an agency with a 10million freelance turnover is unlikely to support growth for a smaller agency.
Quba offer a 100% invoice finance facility, providing the full margin into the agency bank account on a weekly basis. This is provided in combination with comprehensive debt protection and a full suite of back office services, helping to provide the perfect platform from which an agency can grow.
If you’ve got the passion, the staff and the sector sorted but are curious to see how much you can grow by partnering with a recruitment specialist finance and back-office provider please call Quba Solutions on 01305 233178.