With the Christmas period approaching, some recruitment agencies may experience slower periods when clients start to ease off on their recruiting, and certain clients will reduce their hours during the Christmas/New Year break.
This gives the agency director a great opportunity to use their time wisely to look towards 2025 and start January with a clear plan for the business.
Here are some ideas of what to do should there be a slow-down within the agency during December:
CREATE YOUR 2025 PROJECTIONS
Most recruitment businesses will target their business from January to December so having a clear plan of how 2025 will start and end will help the directors focus their efforts once the business returns after the Christmas break. These projections can also be shared with the staff in the new year, so they are also motivated for the 12 months ahead based on their own targets for the business.
PREPARE STAFF ANNUAL REVIEWS
Although most recruitment companies will be reviewing their staff’s profitability and targeting sales on a monthly/quarterly basis, it is a good idea to meet with each staff member annually from a personal progression point of view. This could be asking them about the year gone by, their plans for 2025 (both at work and personally), how they see the culture and working life within the business and see if there are any mental health or training requirements.
REVIEW YOUR OVERHEADS FOR THE NEW YEAR
Sometimes recruitment directors can be so busy with the day-to-day running of the business without realising what they are spending their money on each month. Many costs will be taken directly from the bank account so there could be costs being paid for that have ended or not required (including paying for licences on ex-staff members).
SEE IF YOUR CURRENT TECH STACK IS WORKING FOR YOU
Technology within a recruitment business is key to drive efficiencies and improve the profitability of the agency. This could be the CRM, posting tools, marketing technology and back-office integrations. It may be a good time to look at the processes being followed by the consultants to see if the technology used does what it is supposed to or of there is a better way of doing tasks (especially if there is a manual part of the process). With AI being introduced within recruitment technology, now is the time to review the technology being used within every business.
REVIEW YOUR FINANCE ARRANGEMENTS
Funding costs can be one of the biggest overheads after staff salaries on a P&L if the agency is making contract/temporary placements. However, the funding market is very competitive currently with many invoice finance providers giving fantastic deals to win new business from other invoice finance companies or pay-and-bill providers. Getting quotes from 3 different providers could save an agency tens of thousands of pounds per annum if the right deal can be found, especially if the agency is experiencing a growth in their contractor turnover.
BOOK YOUR HOLIDAYS FOR 2025
One thing that is often neglected by recruitment directors is booking holidays for themselves as they are so focused on the business. Leaving it too long between holidays can often cause fatigue and in turn, reduce the director’s productivity as well as having an impact on their mental health. Adding planned holiday dates into the company business plan is vital to the continuity and growth of the agency.
MAYACHI Ltd makes sure that its recruitment director clients are using December wisely and will be working closely with some companies on their business plans for 2025. This may involve MAYACHI creating 12-month projections, reviewing overheads or comparing invoice finance pricing to ensure that the agency is fully prepared to hit the ground running in the new year!
