Posts Tagged ‘Recruitment’
IN-HOUSE ACCOUNTING VS OUTSOURCING
With many years of experience at MAYACHI understanding how back-office and accounting processes can be structured within a recruitment agency, we are often asked whether an agency should operate its finance function in-house or outsource it. There is no simple answer. The right approach depends on the size and complexity of the agency, its existing…
Read MoreWANT TO INCREASE THE VALUE OF YOUR RECRUITMENT AGENCY?
For many business owners, increasing the value of their recruitment agency means building a business that can ultimately be sold for a significant return. However, achieving a high valuation doesn’t happen by chance. Without careful planning, even a successful recruitment agency can end up being undervalued or remain unsold. The key is to start thinking…
Read MoreTHE HIDDEN REASON RECRUITMENT AGENCIES STRUGGLE WITH CASH FLOW
Every recruiter knows the feeling. After days, weeks or sometimes months of doing all the hard graft sourcing, interviewing, negotiating and managing expectations, you’ve finally made the placement. The candidate starts, the client is happy, and your invoice goes out. However, it’s not time to celebrate with the champagne until that invoice gets paid. That’s…
Read MoreWHEN IS THE BEST TIME TO START A RECRUITMENT AGENCY?
MAYACHI is often asked, “When is the best time to start a recruitment agency?” Based on our many years of experience helping recruiters plan and launch their first recruitment business, there are several factors that can influence the answer. DON’T CONFUSE LEAVING YOUR JOB WITH STARTING YOUR AGENCY Starting a new recruitment agency is not…
Read MoreSCALING YOUR RECRUITMENT AGENCY: HOW INVOICE FINANCE CAN HELP
Growing a recruitment agency is exciting, but rapid growth can put significant pressure on cash flow. This is particularly true for agencies making temporary and contract placements, where contractors need to be paid weekly or monthly, while clients may take 30–60 days to settle their invoices. As the contractor book grows, so does the amount…
Read MoreIS YOUR RECRUITMENT AGENCY FINANCIALLY HEALTHY?
Financial difficulties rarely appear overnight. More often, they build gradually: a late-paying client, an unexpected tax bill, rising staffing costs or simply not having a clear enough picture of what’s happening within the business. For some recruitment agencies, those pressures can eventually reach breaking point. Over recent months, The TEAM Network had been approached by…
Read More4 REASONS RECRUITMENT AGENCIES CAN’T AFFORD TO LET THEIR BOOKS FALL BEHIND
When you’re running a recruitment agency, there’s always something competing for your attention. Winning new clients, finding candidates, making placements and keeping existing relationships strong are naturally going to feel more urgent than updating your accounts. But while bookkeeping might not be the most exciting part of running an agency, falling behind with it can…
Read More5 SIGNS YOU’RE READY TO START YOUR OWN RECRUITMENT AGENCY
Summer often gives us something we don’t get much of during the working year: time to switch off, take stock and think about what comes next. For recruitment consultants, a well-earned break can also create the space to reflect on their career, what they’ve achieved so far and whether they’re ready for their next move.…
Read MoreREDUCING RISK WHEN CLIENTS DON’T PASS CREDIT CHECKS
Winning a new client is always exciting for a recruitment agency. Before placing a candidate, though, it’s important to ensure that the client is financially stable. Carrying out a credit check is one of the simplest and most effective ways to reduce financial risk and protect your agency from bad debt. This is especially important…
Read MoreWHAT NON-RECRUITERS SHOULD UNDERSTAND BEFORE STARTING A RECRUITMENT AGENCY
Over the years, while providing back-office and accounting services to recruitment businesses, we have regularly spoken with individuals from outside the recruitment industry who are considering launching their own recruitment agency. These conversations have included professionals from a wide range of sectors, including healthcare, logistics, construction, manufacturing, and traffic management. Many have identified recruitment challenges…
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