How to Start a Recruiting Agency
How to Start a Recruiting Agency: 8 Steps
If you are planning to start a recruiting agency then this article will be a great help to you. This article talks about 8 important steps which are a must for starting a recruiting agency which is also known as staffing agency or temporary agency. To make sure that your firm is able to interview and select potential applicants for various job placements, this article unfolds a perfect step-wise process which includes a fool-proof business plan along with well designed strategies and marketing plan to make your business a success.
8 Easy Steps for Starting a Recruiting Agency
Here is a list of eight steps which must be followed in order to set up a new staffing or recruiting agency. Keep these points in mind so that your business grows without any hindrances.
- Decide the kind of recruiting agency you want to start
There are various kinds of staffing services like businesses or contractors. Before anything else, you must study all these different structures, their pros and cons, to know what kind of agency you want to start up with. Also decide one such industry in which you want to function or you want to work across different agencies.
- Get the market feel
It is very important to study the market before making any start. This will make you aware of the opportunities and threats in the industry. You will know the prospects of the specific industry in which you want to start the recruiting business. Study the equations of demand and supply. This will help you in taking a right decision with least risk involved.
- Know your strengths and weaknesses
Before proceeding further, you must evaluate and analyze your positive and negative points. If you have experience in the same field then it will surely help you take better decisions and if you a new entrant then you have more uncertainties in your kitty. Having experience helps you understand the industry in a better manner and create effective strategies to make your business a success.
- Calculate the start up costs
You must know in advance that how much money will be required to start the recruiting agency so that you can plan your financial moves in a more organized manner. This will include the start up size of your business, cost of overheads, marketing expenses, insurance expenses, staff costs and various other business expenses. The location of your office will also play a major role in determining the cost. You must work on deriving the costs to the best possible levels so that you can manage your money more smartly.
- Find a location
This is another very important decision that you must take after a thorough research. Pick up a location which is a professional location and is easily accessible. Also make sure that it is in proximity of most of your clients. Do keep the expansion options open for future. The location also needs to be financially feasible and lease flexible so that you can easily manage it with the growth of your business. Remember location has a very important role to play. Look for an office which is close to the clients and within the industry.
- Know the legal formalities
It is important to know the legal formalities which your recruiting agency must meet. For instance, need of license, insurance and laws related with taxation etc. must be studied so that your agency doesn’t fall into any kind of legal complications.
- Create an innovative marketing plan
To make your business a success, you must work hard on designing a marketing plan. Create a list of potential and prospective clients with whom you can start your business. Have a plan to approach these clients. You can go and meet them in person or you can also get in touch with them through emails and letters. You can use different kinds of marketing strategies to reach out to clients. Website, business cards, pamphlets, newsletters are few such ways of approaching the market.
- Start hiring
The last step in this process is to start hiring the employees. Advertising in classifieds in newspapers, asking for referrals, online job portals, online classified ads are some of the most effective ways of finding the best recruiting staff. Go for experienced and smart administrative and recruitment staff that can perform their respective roles with the best of their abilities.
These were the eight most important steps while starting a recruiting or staffing agency. Follow these points and you will be able to start a new business with ease.
Step-wise procedure of eight processes for setting up a new recruiting agency. Follow these steps for starting a staffing or temporary agency with ease.