5 Resources a New Recruitment Agency Need Immediately….and 3 That Can Wait.

5 Resources a New Recruitment Agency Need Immediately….and 3 That Can Wait.

When planning your new start up recruitment agency, there are lots of different areas to consider and often you will list and plan all the different aspects not realising that some resources are not required immediately. Here are the 5 resources we feel should be top of the list when planning your new agency:-

  • Telephone Number – One of the most important resources for a recruiter is the telephone as speaking to clients and candidates is paramount to securing that new placement. However making the decision to use a mobile number or fixed land line is important, a mobile number can make you appear a small organisation and a fixed land line can be more expensive but says you have a base of operations
  • Email Address – The second most important resource for a recruiter is the email address which is why securing the right domain name is critical. Ensuring the domain name is short and gives an indication of your business is key when passing details to your clients and candidates
  • Computer – Whether you decide to use a desk top machine or a laptop, having the capability of storing CV’s, running your inbox and creating documents is vital to the running of your new business. Ensuring you have an up to date anti-virus is important especially as you will be receiving and sending lots of documents.
  • Contracts – Ensuring that you are providing up to date and legal contracts to your clients and candidates will protect you and your agency. Getting contract templates from a reputable source ensures you will not miss out on charging correct fees and going legal should this arise.
  • Insurance – Protecting yourself and your business with insurance is important and it is always recommended that you obtain Employers Liability and Public Liability Insurance as a minimum. You may also need Professional Indemnity Insurance for certain clients and industries.

In our experience we have also come across agencies who spend a large portion of their start up capital on items that are not necessarily important in the early days until profits are generated and the main 3 we have identified are:-

  • Office Space – It is not necessary for you to have an office from day 1 as this is a high fixed cost and often you will have to sign up to a lease agreement. Working from home is a cheaper solution and having your company registered at your accountants (or using a company who provide registered address facilities) can give the impression that you have office space. Also there are very few clients and candidates who will need to visit your premises so using coffee shops and meeting rooms can be a cheaper option.
  • Website – A website can often be a luxury in the early days of your agency at a cost that could be better spent elsewhere. Having a holding page with your contact details until you have your full website set up can work just as well as having a full website. Also using the company pages on LinkedIn and Facebook to advertise your business can give you an online presence without the large cost.
  • Business Cards – In the current technological times, business cards are becoming more redundant as a means of providing contact details and are another luxury not required immediately.

TBOS offers help and advice to plan and set up new recruitment agencies for recruiters looking to start up their own business.