Planning For 2018 – What Should Recruiters Be Thinking About?
Most recruitment agencies will be closed next week for the Christmas break as most clients and candidates will be enjoying their own time off, so the chance of making a placement is very unlikely. During this time, recruiters should be enjoying time with their family and friends and have some time to plan what they will be doing in 2018.
During the Christmas break, recruiters have a number of options available to plan what they want to do in the new year:-
- STAY WHERE YOU ARE
You could go back to work with your current agency in the New Year and continue in your current position, making placements and generating regular commission. You may want to set yourself some personal targets for the year, such as looking at gaining more clients or expanding your current market.
- PROGRESS WITHIN YOUR EXISTING AGENCY
You may decide to review your position within your current agency and see if there is a way of being promoted further. This may be moving up the pay scale by taking on added responsibility such as training new staff members, managing a team or looking after a large client. The thing to consider is that with more responsibility, such as looking after staff, may mean that you see a fall in your own billings, so a pay rise may be required to compensate you for the missing commission.
- FIND A RERUITMENT POSITION AT ANOTHER AGENCY
You may decide that your current agency isn’t the right place for you anymore and that it is time to move on. You may feel that the remuneration package isn’t compensating you enough, the targets are not achievable or the company culture isn’t for you so leaving is your only option. The problem is that there will also be other recruiters in your position in the New Year so you may have competition for that next role.
- START YOUR OWN RECRUITMENT AGENCY
You may decide that now is the time to stop being an employee earning money for another business owner and start your own recruitment agency with you in the driving seat. If you have the capability of building your own desk by generating new clients and candidates within your chosen industry, then 2018 may be the time to start your own agency. With some simple planning and a small amount of start-up capital, you can easily get your agency off the ground and start generating your own profits.
January is one of the busiest times of the year for TBOS to set up new recruitment agencies, with many recruiters deciding that they don’t want to make money for their old agency anymore and want to start building a business for themselves.
TBOS has helped set up over 150 new start recruitment agencies and helped many recruiters realise their dreams of being a business owner. TBOS can help with formation advice, setting up bank accounts and registrations with HMRC, as well as recommending suppliers such as insurers and legal experts. TBOS can also help set up invoice finance for new contract recruitment agencies to provide funding on contract and temporary placements, as well as providing contract preparation services. Our service is ideal for new start up agencies as we provide a comprehensive back office and accountancy service in the agency name at a fraction of the cost of employing internal staff or using separate accountants and payroll providers. For more information on how TBOS can help start your own recruitment agency in 2018, please contact our office.