My strong belief is that you have to be forward-thinking as an agency owner or today’s successes could well mean tomorrow’s failures.
There’s a reason that 80% of startups fold before their second anniversary and only 72% of recruitment agencies ever grow beyond 10 staff.
Of course, you have your business plan, your financial forecasts and individual billing targets from day one. However, do you spend any time working out which distribution channels you could use to reach more people than your competitors? By people I mean candidates, clients and of course, your next potential hire.
The real fate of an agency lies in the talent of the people within it. I don’t need to tell recruiters about the importance of hiring the right people.
Yet, there’s an irony that it’s finding recruitment talent that’s stalling agency growth in 2018.
Almost every conversation I’ve had with agencies over the last year returns to a real difficulty in accessing good recruiters who can grow with them.
We all know good recruiters exist. I’ve worked with plenty. But, there’s also a lot of wrong fits out there, coasting from one agency to the other. Too many of the wrong people can seriously force the brakes on scaling.
Whether it’s the low barriers to entry, softer demands in the market, or whatever. Agencies are stalling because they can’t secure and retain the talent to grow with confidence.
| There are over 100,000 recruiters working in the industry alone, and ten times that working in transferrable sectors.
We all know that almost ALL of us fell into this career from completely random backgrounds. The personal success stories I know have come from other sales environments, teaching, sport, fashion, care, or pasts as semi-professional footballers...
| You need to think about why talent wants to work for your agency specifically?
As Simon Sinek said “people never buy the ‘what’ you do, but always the ‘why’ you do it’.
As there’s very little that tells agencies apart in ‘what’ they do, from processes, rewards, systems etc. it means the battle is being won in how you tell your story and sell your “purpose”.
A beanbag in your office doesn’t create a culture and uncapped commission only means something when there’s a drive to achieve it.
I implore you not to be so tunnel visioned to throw money at Rec2Recs, referrals and job adverts if you’re not also focussing on building an attractive brand that appeals to talent.
Otherwise, you’re just throwing money at a short-term solution to what is really a long-term need.
In 2018, agencies need to stand out from the crowd. To differentiate themselves from the 5,000 other agencies starting each year.
What’s the real story of your brand and its people?
Employer branding as an avenue for inbound talent is something that’s gone overlooked in recruitment but will play a key role in its future.
If you want to be more than a small-man band and scale beyond the 80%, then you need a reliable pipeline of talent that’s going to grow with you.
Build a brand with long-term growth in mind.
See How to Build a Brand for Long-term Agency Growth