5 Traits of a Profitable and Competitive Staffing Agency

Running a recruitment business is never a one-man show. Couple it up with the recent development of smartphone usage and social recruiting, and you will have your task cut out to make your staffing agency profitable and competitive.

But, if you think that by developing a mobile savvy website and adopting social recruiting can lead your agency to profits and make you surpass your competitors then you are wrong! The truth is, in order to make your staffing agency highly competitive and profitable, it requires lots of hard work and zeal to outperform your competition. So, the question is: what are the traits that you need to make your recruitment agency profitable and competitive? Let us try and find out the answer to this question through the points mentioned below.

1. A consistent service approach adopted throughout the agency

You need all the employees working in your business, irrespective of whether it is the COO or the newest hire, to know your agency’s approach to the recruitment process. There should be a zeal amongst the employees to do their work passionately. All the prominent services that your recruitment agency provides irrespective of whether it is candidate orientation, client sign-up, job applicant assessment, recruitment marketing or any other critical area in your staffing project, should be synchronized by the employees in such a way that your agency seems to work on providing the services in a unison. Use a competent Staffing Agency Software if you can to streamline and optimize your workflows.

2. Always give prime importance to your candidates and clients

If you think of your candidates as a money making tool and your clients as your means to earn revenue you will not last long. Remember, word of mouth is the most potent marketing tool for your agency. If you treat your applicants badly you risk getting their references, thereby losing out on creating a talent pool. Alternatively, if do not listen to the requirements of the clients properly, they will move to your competitor.

To make your staffing firm profitable and competitive, respect the needs of your candidates and invest your time and resources to nurture them. Also, maintain a healthy relationship with the clients so that you understand their requirements and send the best candidates as per their requirement thus, meeting their needs.

3. Understand your worth

There might be times when clients will try to acquire your services by asking you to lower your price. If you want to be profitable and competitive always know your worth. Be upfront with the client. If the remuneration is low in accordance with the dedicated resources required for completion of the task do not hesitate to walk away from the project. Never undervalue yourself. If you are facing the pressure from a distinguished client learn from big staffing agencies to deal with the situation.

4. Know your client’s requirements extensively

In order to make your staffing agency profitable and competitive, invest your time to know the client’s requirements properly. This will make you match their requirements with the right candidate. Never send an ill-fitted candidate for the sake of closing the deal. Instead, send the best talent to your clients. This way both the candidates and the clients will be able to get the best deal from your association. As a result, you will remain in the top contention amongst your competitors and increase your profitability ratio.

5. Never give up

There will be times when you will not be able to find the right fit for your clients. The best way to counter the situation is by doubling your efforts to find the right talent for the advertised job position. Even if you have multiple hiring projects in hand, never get complacent and slow down your processes. To be the best and earn huge profits, you will have to press on to find new accounts irrespective of your current standings in your business.

Conclusion

In the end, it has to be said that in order to be highly profitable and competitive in the staffing industry you will have to learn things from the market leaders and practice these traits mentioned in this article. Although, it won’t be easy. But, when you are able to implement these things the rewards will be worth the pain that you endure to relish it!

Viral Vora is the Ceo of Talentnow Solutions, a leading Recruitment Software company. Viral is an industry veteran and writes about the various aspects of recruitment technology.