We’ve talked before about the skills that recruiters either need to already have or develop fast when they become a Director of their own start-up agency. Today, we thought we’d look at some issues that aren’t about skills – they’re just things you need to have an answer for, and they revolve around management.
But management isn’t just about managing your team; if you started your agency with a friend or investor, if you’re not the only Director, you still need to know how to manage your peers, too.
Why Shareholders’ Agreements Exist
At the end of the day, if management is split on a decision, there has to be a decider – and from time to time, management will split, no matter how close friends the Directors are. A shareholders’ agreement puts a procedure in place and makes sure everyone involved knows from the start.
A staggering 62% of start-ups fail due to shareholder conflict, so having tricks in play to manage that from the start is essential.
We can’t recommend you skimp on this agreement, either; use lawyers you trust and spend the time and the money to get it drawn up properly, because there’s a good chance you’ll regret it if you don’t.
Perks Mean More than Money
As your agency grows and you look to take on new recruiters, you’re also laying the groundwork to keep your team loyal – and you’ll find that a paycheque alone is not enough.
Over half of the job market list perks and employee benefits as top considerations when interviewing for a new role. Why? Because they show engagement with your staff.
By offering gym memberships, private healthcare schemes, or even a games room, you can show your team you care and bring them closer to you, often for less than the hike in salary you’d need to get the same result. We’ve also seen access to professional financial planning catch on, but here’s the best bit – many of these can work well as incentives to hit those all-important KPIs.
You’ve been a recruiter yourself, so you know that KPIs don’t earn themselves; you push harder for them when you know there’s a tangible goal, and especially when you want that goal. By laying out clear, open reward tiers for performance, you incentivise your team to work harder while still showing you’re in touch with what they want and need.
That gives you a huge advantage in a complex job market.
It can help to offer perks that nobody else does, but always ask yourself – why does nobody else offer this, and what are you missing out on if you do? If you’d like to discuss these questions further – or anything else connected to an agency – we’re ready to hear from you.