Blogs
7 AGENDA POINTS FOR RECRUITMENT AGENCY BOARD MEETINGS
When running a recruitment agency, it is very easy for the Directors to get bogged down with the day-to-day operations of the business including managing staff, making placements and monitoring overhead, without taking the time to “put their head above the parapet” to properly review their business. Planning a day each month or quarter to…
Read MoreIS YOUR INVOICE FINANCE ARRANGEMENT THE BEST DEAL FOR YOUR AGENCY?
External funding is often required when a recruitment agency makes contracts or temporary placements to bridge the gap between when the client makes payment on 30+ day payment terms and when the candidates will need to be paid within 5-7 days. This funding gap can easily be filled with external funding either from a pay-and-bill…
Read MoreWHY MANAGEMENT ACCOUNTS ARE IMPORTANT TO THE GROWTH OF YOUR RECRUITMENT AGENCY?
The vast majority of recruitment agencies are set up and run by Directors who used to be recruiters in a previous guise. Although they are fantastic at recruiting and making placements, often they do not have the aptitude or interest in accounting unless absolutely necessary. Even if their accountants produce management accounts, they may not…
Read MoreWHAT PREPARATION DO YOU NEED TO DO WHEN CONSIDERING SELLING YOUR RECRUITMENT AGENCY?
Many recruitment directors aspire to one day sell their business for a healthy profit, but unfortunately, the reality is that many will fall short. The main reason for this is the lack of planning that a recruitment agency should undertake in advance of wanting to sell. When recruitment agency directors consider selling their business, they…
Read More6 THINGS TO CONSIDER WHEN BUILDING YOUR RECRUITMENT AGENCY PROJECTIONS
Projections for a recruitment agency can help give a targeted plan for the directors, so they know what they need to achieve over the next 12 months by hitting the sales targets and what they can spend. These projections can help set targets for internal staff members, indicate when new consultants can join the business…
Read More10 TIPS ON STARTING YOUR OWN RECRUITMENT AGENCY
Each year, more than 8,000 recruitment companies are formed at Companies House with many of them being set up by first time Directors. These Directors are often top-billing recruitment consultants who are fantastic at making placements but have very little experience of running their own company. If you are considering setting up your own recruitment…
Read MoreHOW DO YOU KNOW IF YOUR BACK OFFICE IS RUNNING EFFICIENTLY?
For most recruitment directors, the accounts and finance function within their business is often an afterthought, mainly as they focus on filling vacancies and getting their team to make more placements. Also, most recruitment directors are often unaware of how their back-office processes are done and, therefore, do not take the time to review whether…
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