Don't let a boom send you bust!
While the first 6 months of 2018 have proven to be the best in a decade, buoyant market conditions demand a tightly run ship. You need to be driving what's happening inside your business not the market!
Somewhere between the large scale recruitment agency resourced to deal with high volume and the niche recruiter that will stay selective about the business they take sits the firms at most risk, those with between 21 and 40 staff and growing.It might sound contrary to suggest that strong market conditions can be hazardous but for those growing a bigger team the proverbial 'Valley of Death' as we call it, looms if your house is not in order.
In fact 93% of firms we spoke to stated that growing a team beyond 20 can be problematic for business.Where to start?
Hiring the right people might sound like a no brainer, but it's the most crucial factor for a robust business model. But it's not only getting them through the door that counts. Ensuring that your team are engaged and have ownership is all that underpins a productive workforce.If you select the right people, and then commit to training, engaging and retaining them then you're on your way.
Control the costs
Top performing recruitment agencies have a crystal clear view of sales and gross profit per billing staff member and keep an eye on industry results as a benchmark.Reviewing operational costs, drawing regular industry comparisons against your peers and focusing on the average tenure of your billers are key to achieving sustainable growth.
Much like driving a car, you can't move forward without keeping an eye on those around you! Keen to know more then take our complimentary Health Check?
|Tags: Business Profitability Recruitment Agency Profit Staff Turnover Staffing and Recruitment|