While competition is quite extreme, the search for good talent is never-ending in the staffing business. With a low unemployment rate and a lack of skillful prospects, it might appear that simply holding steady will be a primary challenge in the forthcoming year.
Despite these challenges, your staffing company can still expand. It will just demand a focus on certain new areas like recruiting agency software, that your company may not have fully adopted yet.
So here are the 5 most important things you should know to grow your staffing business. Let’s get started…
Boosting Your Recruiters’ Brands
You’ve presumably spent a lot of time and money developing your agency brand. However, do you have the news about your recruiters’ personal brands? Remember that your clients and applicants will most likely only interact with one or two important members of your company. Although the agency brand is necessary, it may be just as vital for individual recruiters to be identified as experts in their fields.
Have you been aware of the marketing professional on staff or do you use an outside marketing firm? Request that they spend some time developing a branding program with your recruiters. Also, make sure that each recruiter gets time each week to expand their network and focus on blogging, podcasting, or video production. Ultimately, fostering the personal development of your top recruiters will boost staff morale and improve your agency’s overall clout.
With today’s worldwide reach, it’s more essential than ever to focus on a specific niche and client value.
You know that clients have much planned and no one will immediately choose your company over another except for a few ones. They might check if you have the best client service in the company. Besides, they might ask if you can meet large staffing requirements for a multinational corporation or if you are better at digging deep and finding the ideal candidate for a small business.
People typically don’t demand to work with a jack-of-all-trades staffing agency. They often look for a company that can effectively handle the pain points in their particular issue. To distinguish yourself from the competitors and expand your business, you must define your specialization.
Outsourcing to Do Scale
Did you find the critical roadblocks to your business growth? This is often a combination of a lack of time and a lack of resources. As you try to scale out, you assign your team more projects and responsibilities. And eventually, they will become overburdened and incompetent to serve at their best. However, you might not have the resources available to bring on another person.
As your business grows, outsource your non-revenue-generating assignments to freelancers and gig workers. You can overlook the large salary hit that adding a new employee would bring by hiring on a project basis to deal with part of the additional work. Furthermore, you can increase or decrease a freelancer’s workload month to month, and therefore your financial responsibility. If you need to begin to approach full-time, you could hire an in-person or remote employee.
Investing In Technology
In the staffing sector, technological advancements can save you a lot of time and money, allowing your team to concentrate on networking, outreach, and other responsibilities that require a personal touch.
In the primary section, you should ensure that you have a good relationship management system in place to help you streamline your job postings, candidate sourcing, and applicant monitoring. An effective strategy can save your recruiters hours of time each week, allowing them to focus on other aspects of the process.
You can also utilize chatbots or artificial intelligence (AI) to get a few preliminary research and answer FAQs. These programs can perform a skills evaluation and gather employment data for you after the first setup. In this regard, recruitment software is now the so-called most helpful way to get the project completed asap. You’ll free up your skilled personnel to do more difficult work by delegating the monotonous responsibilities to them.
Applying People Analytics
People analytics, also known as talent analytics, entails gathering and assessing the information on a company’s employees, projects, and performance.
Your staffing firm can minimize time to hire, enhance the quality of those hires, and assist your clients in generating more money by measuring and understanding these metrics. A survey indicates that staffing firms who use people analytics effectively make up to 82 percent more profit over three years than firms that don’t.
You can craft a data-driven approach to the interview process and placements instead of picking candidates based on a resume. Analytics can also assist you to forecast when it’s best to hire and when it’s best to hold off on hiring.
On the whole, the staffing industry is now much more about employing current technologies to streamline services and respond to abrupt change than it is about paper-pushing. To be successful today, you must not only discover the proper fit but also use the most up-to-date tracking and recruitment software. Wherever possible, try to consider long-term and see the broad picture.
While it’s impossible to forecast everything that could happen in the forthcoming year, you can better prepare yourself by getting an agile and flexible business model.