How to make money in temporary recruitment

Recruitment can be a tough, fast-paced and highly competitive industry at the best of times, so how do you succeed and ultimately make money as a temporary recruitment agency?

Find your niche

Focus on what you know and what you do best. Define your goals from the outset and remember to reflect your USP in any promotional work you are doing. Utilise your website and social media accounts to set the tone for your business, showcase good reviews, provide useful content and reflect your industry knowledge. Work on creating a brand and build your reputation, making yourself stand out from competitors in a busy arena is crucial.

 

Pick your clients with care

Offer a thorough and professional, recommendable service. Work on building a strong client portfolio - jobs boards give you access to vital information on potential clients. You will be able to see which companies are hiring and which industries are posting a growing number of vacancies. Similarly, networking at events will enable you to make connections and gather referrals. Ask yourself prior to commencing work with any client, is this company the kind of company you may get repeat business with, so you know how to channel your efforts best.

 

Increase contractors

According to the REC (The Recruitment & Employment Confederation) Trends report 2017/18 on any given day there were 1.2 million temporary/contract workers on assignment. These workers ensure you have a steady income and should also be offered a high level of service, so they want to work for you and actively recommend your agency.

In terms of building your candidate and client portfolio, LinkedIn is one of your most valuable sources. With a reported 500 million users, it provides one of the best channels for making business connections and gathering information. Maintain both a business profile and personal staff profiles, ensuring all are kept current and professional.

 

Offer additional services

Enhance the customer service you offer by looking at extra customer services. CV writing, workshops and training courses, plus interview skill preparation and career advice could be ideal add-on's and supplementary services to increase your unique portfolio and boost income also.

 

Look to outsource

A back office provider specialising in the recruitment sector will have excellent knowledge of the industry and its complexities. By outsourcing your back office you can maximise your earnings from day one - freeing up time and money. You can ensure all your back office tasks are completed in an efficient and timely manner, plus more complex functions are managed by experts. You can streamline your administration while remaining compliant and benefit from accurate reporting, ensuring enhanced cost controls.

 

Efficiency and security

Software specific to the industry can offer a multitude of advantages to you, both in terms of saving you time and money. You can manage bookings, process time sheets, manage your candidate database, remain industry compliant and utilise automated invoicing procedures. If you choose a provider that offers cloud based software, you can access the system 24/7 and from any internet enabled device, ensuring you stay on top of your key administration.

 

 

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