This is a part of a series around Temporary Recruitment that we are running in conjunction with TempBuddy this year. Here, Rachael Moss, Marketing Director, of TempBuddy talks about how you can capitalise on one of the healthiest job markets in decades.
According to the ONS the UK’s employment rate has been generally increasing since early 2012 with 31.41 million people in work, and for the 3 months to January 2016 it reached a joint record high of 74.1%. The REC meanwhile forecasts recruitment market growth of over 8 per cent this year and recently reported that temp billings rose at their fastest pace in four months.
So just by riding the wave you should experience 8% growth this year. Happy days. But what if you want to do more than tread water and go for double-digit temp growth?
Generating above-market growth requires more than motivating consultants to achieve and exceed their monthly targets. It requires a strategic look at the business infrastructure that underpins and supports them; the resources you have and how they are being utilised; what can drive your success and what might hinder it. Only by understanding the possible barriers to your growth can you take corrective action and focus your attention where it’s needed. So, what could hold you back from bringing home the bacon?
A lack of candidates
The flipside to a strong employment rate is the well-cited skills shortage. The Employer Skills Survey from the UK Commission for Employment and Skills reports the number of positions left vacant because employers can’t find people with the skills or knowledge to fill them has risen by 130% since 2011.
In this employment environment it’s becoming increasingly vital to have real-time visibility of your crucial commodity: your candidates. Knowledge of who is available to work where and when trumps a vast candidate database. Being able to demonstrate and improve your speed to fill gives you a competitive advantage. Not just for your day-to-day success; tenders are being won on this basis. Fact.
Recruiter productivity
A thorny, but essential issue to take stock of. Servicing customers is critical for retention, but do you want your top billers to be spending a large proportion of their working week filling bookings? Do you have consultants who hide behind admin to avoid picking up the phone? Are the right people doing the right things, and being rewarded accordingly?
There’s a number of ways you can impact productivity. Training is an obvious one. Employing dedicated administrators could be another, but the industry has tended to move away from these, favouring 360 consultant roles instead. Those who can do the sales and business development, as well as fill the bookings.
Ask your consultants what’s holding them back from achieving higher numbers (a good exercise to undertake anyway), and your recruitment software, “the system”, is likely to be mentioned. Whether they talk about how it’s unuser-friendly, slow to use, unpopulated with candidate data (aka top drawer/Excel spreadsheet syndrome), essentially what they’re telling you is it’s not fit for purpose. And if they’re a temp recruiter, they’re probably right. Most CRMs were evolved to support the placement of perm candidates, rather than serve the growing contingent workforce. They don’t streamline the deployment of candidates into short-term assignments, manage shift patterns, or automate the pay and bill process. Meaning your consultants are spending hours chasing candidate availability, filling bookings and dealing with the associated admin and timesheets.
Insufficient bookings/new business
Your clients look to you as recruitment experts to keep them abreast of the latest technology and innovation. Many corporate organisations want to adopt mobile as part of their recruiting efforts, but don’t have the knowledge, resource or budget to bring this to bear themselves.
By bringing new tools to the table you can help them deliver their projects, and make them look good in front of their management peer group or in the boardroom. Brownie points for you. To reiterate: tenders are being won by agencies showcasing innovation that sets them apart from their competitors who are simply doing the same old, same old.
Inability to hire/retain recruiters
It’s ironic that the recruitment industry is victim to skills shortages too and struggles to hire the best talent. Yet it’s been true for a while. Hence the burgeoning re-to-rec industry that fuels its growth. Agencies are usually pretty lean, so reduced headcount can significantly impact your bottom line and the morale of the team who are left to step in. A strong employer brand underpinned by a robust culture will help you attract more members to your tribe. Giving them the right tools to do their job will help them stay.
Are any of these ringing true and holding you back?
What would most significantly impact your ability to achieve double digit temp growth? – Increasing your consultants’ sales time? Improving their efficiency? Reducing admin? We’d love to hear your views.
