recruiting firm business plan

Recruitment Agency Business Plan: How to Write One

Launching a recruitment agency demands a solid foundation, and crafting a detailed business plan is the cornerstone. Get started on your recruitment agency business plan with our guide. We will walk you through all the details.

The United States, Japan, and the United Kingdom dominated the recruitment and staffing industry in 2022, generating 55% of its revenue. Global revenue for the staffing industry jumped 4% to $648 billion, according to a report from Staffing Industry Analysts . The current job market, characterized by rapid technological advancements and shifting workforce demographics, is creating a market for flexible staffing solutions.

To cut costs and improve the efficiency of human resources, businesses are turning to staffing and recruitment agencies to secure talent. The rise of the gig economy and the preference for contract or temporary positions among workers seeking greater work-life balance is helping fuel the industry’s growth. Nearly 23% of working Americans also have a side hustle, according to a recent study by Pymnts .

Your Business Plan’s Key Elements

Whether you are a seasoned professional in the staffing world or a newcomer to the field, you need to start with a recruitment agency business plan. Creating a business plan requires gathering a significant amount of information. Start by researching the staffing industry, including market size, growth trends, and regulatory considerations. Network with industry professionals, attend relevant conferences, and utilize online resources to gain knowledge. Financial projections should be based on realistic market assumptions and comparable business models.

Keep in mind you will need a business plan at various stages of your business journey. Initially, it will guide your startup phase, helping you to secure funding and establish your business structure. As your agency grows, revisiting your plan can help you to scale your operations and enter new markets.

A comprehensive startup business plan for a recruitment agency should include:

• Executive summary: Start with a clear and concise overview of your business — your elevator pitch. Highlight your business goals, mission statement, and the services you plan to offer.
• Market analysis: Conduct thorough research on the staffing industry, focusing on your niche. Identify your target market, analyze your competitors, and outline the trends and challenges in the industry to understand your unique selling proposition.
• Services: Detail the types of staffing services you plan to provide. Whether it is temporary staffing, permanent placement, or executive search, be clear about your offerings, the verticals you will serve, and how they meet the needs of your target market.
• Marketing plan: Outline how you will attract clients and candidates with your marketing plan and sales strategy. Identify the channels you can use to build your brand and reach your audience.
• Operations: Describe the day-to-day operations of your agency, including the recruitment process, the technology, the tools you need, and how you plan to maintain quality and compliance.
• Financial plan: Make detailed financial projections, such as startup costs, revenue forecasts, and a break-even analysis to understand the financial viability of your business.
• Management: Highlight your team’s expertise and the organizational structure of your agency. If you start solo, outline your experience and any external support you can leverage.

Partnering With AtWork: A Shorter Path to Your Goal

If you are considering opening a recruitment agency, partnering with AtWork to start a staffing franchise can significantly streamline the startup process. By joining forces with a proven brand, you can cut down on startup costs and bypass many of the hurdles of starting from scratch. AtWork’s recruitment agency business plan also allows you to take advantage of the Work Opportunity Tax Credit (WOTC) to lower your operational costs.

AtWork provides comprehensive knowledge, training, and tools essential for launching your staffing business. As a franchise owner, you get in-depth training on running a successful staffing agency, including sales, operations, and compliance. AtWork has state-of-the-art technology and operational tools to simplify day-to-day management, and marketing campaigns to effectively promote your agency and attract clients and candidates. Its support staff also handles all your payroll, allowing you to concentrate on scaling the business.

Learn More About AtWork

Get started to learn more about partnering with AtWork to launch a business in the staffing industry.

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Recruiting Company Business Plan Template

Written by Dave Lavinsky

Recruiting Company Business Plan

Over the past 20+ years, we have helped over 1,000 entrepreneurs and business owners create business plans to start and grow their recruiting companies.

If you’re unfamiliar with creating a recruiting company business plan, you may think creating one will be a time-consuming and frustrating process. For most entrepreneurs it is, but for you, it won’t be since we’re here to help. We have the experience, resources, and knowledge to help you create a great business plan.

In this article, you will learn some background information on why business planning is important. Then, you will learn how to write a recruiting company business plan step-by-step so you can create your plan today.

Download our Ultimate Business Plan Template here >

What is a Recruiting Company Business Plan?

A business plan provides a snapshot of your recruiting company as it stands today, and lays out your growth plan for the next five years. It explains your business goals and your strategies for reaching them. It also includes market research to support your plans.

Why You Need a Business Plan for a Recruiting Agency

If you’re looking to start a recruiting company business or grow your existing recruiting company, you need a business plan. A business plan will help you raise funding, if needed, and plan out the growth of your recruiting company to improve your chances of success. Your recruiting company business plan is a living document that should be updated annually as your company grows and changes.

Sources of Funding for Recruiting Companies

With regard to funding, the main sources of funding for a recruiting company are personal savings, credit cards, bank loans, and angel investors. When it comes to bank loans, banks will want to review your business plan and gain confidence that you will be able to repay your loan and interest. To acquire this confidence, the loan officer will not only want to ensure that your financials are reasonable, but they will also want to see a professional plan. Such a plan will give them the confidence that you can successfully and professionally operate a business. Personal savings and bank loans are the most common funding paths for recruiting companies.

Finish Your Business Plan Today!

How to write a business plan for a recruiting company.

If you want to start a recruiting company or expand your current recruiting company, you need a business plan. The guide below details the necessary information for how to write each essential component of your recruiting company business plan.

Executive Summary

Your executive summary provides an introduction to your business plan, but it is normally the last section you write because it provides a summary of each key section of your plan.

The goal of your executive summary is to quickly engage the reader. Explain to them the kind of recruiting company you are running and the status. For example, are you a startup, do you have a recruiting business that you would like to grow, or are you operating a chain of recruiting businesses?

Next, provide an overview of each of the subsequent sections of your plan.

• Give a brief overview of the recruiting industry.
• Discuss the type of recruiting business you are operating.
• Detail your direct competitors. Give an overview of your target customers.
• Provide a snapshot of your marketing strategy. Identify the key members of your team.
• Offer an overview of your financial plan.

Company Overview

In your company overview, you will detail the type of recruiting business you are operating.

For example, you might specialize in one of the following types of recruiting businesses:

• Temporary Recruiting Company: In this type of recruiting company, you will specialize in temporary staffing solutions for short-term needs. For example, this company may focus on temporary staffing on behalf of an employee who has surgery and an extended recuperation.
• Job Candidate Sourcing Company: This type of recruiting company actively searches for potential job candidates via a variety of mediums in order to present candidates to companies actively seeking job candidates. Social media channels, such as professional networks, are often the platforms used as databases.
• New Hire Negotiations Company: This type of recruiting company negotiates on both sides of the table to arrive at a fully equitable hiring contract or agreement that both parties, the job candidate and the company executives, are willing to sign. This company often makes the difference between negotiations that cause a break in hiring and those that seamlessly and successfully hire for multiple positions every year.
• Specialized Industry Recruiting Company: A specialized recruiting company offers   recruitment services for a specific industry sector, such as aerospace contractors. Within the sector, certain positions must be filled to meet exacting needs, therefore, the specialized recruiting company can search for and assist in filling those needs.

In addition to explaining the type of recruiting business you will operate, the company overview needs to provide background on the business.

Include answers to questions such as:

• When and why did you start the business?
• What milestones have you achieved to date? Milestones could include the number of industry clients served, the amount of revenue received during the past six months, opening a second recruiting company location, etc.
• Your legal business Are you incorporated as an S-Corp? An LLC? A sole proprietorship? Explain your legal structure here.

Industry Analysis

In your industry or market analysis, you need to provide an overview of the recruiting company industry.

While this may seem unnecessary, it serves multiple purposes.

First, researching the recruiting company industry educates you. It helps you understand the market in which you are operating.

Secondly, market research can improve your marketing strategy, particularly if your analysis identifies market trends.

The third reason is to prove to readers that you are an expert in your industry. By conducting the research and presenting it in your plan, you achieve just that.

The following questions should be answered in the industry analysis section of your recruiting company business plan:

• How big is the recruiting company industry (in dollars)?
• Is the market declining or increasing?
• Who are the key competitors in the market?
• Who are the key suppliers in the market?
• What trends are affecting the industry?
• What is the industry’s growth forecast over the next 5 – 10 years?
• What is the relevant market size? That is, how big is the potential target market for your recruiting business? You can extrapolate such a figure by assessing the size of the market in the entire country and then applying that figure to your local population.

Customer Analysis

The customer analysis section of your recruiting company business plan must detail the customers you serve and/or expect to serve.

The following are examples of customer segments: individuals, recruiters representing companies, human resources executives, and government entities.

As you can imagine, the customer segment(s) you choose will have a great impact on the type of recruiting company business you operate. Clearly, individuals would respond to different marketing promotions than government leadership, for example.

Try to break out your target customers in terms of their demographic and psychographic profiles. With regard to demographics, including a discussion of the ages, genders, locations, and income levels of the potential customers you seek to serve.

Psychographic profiles explain the wants and needs of your target customers. The more you can recognize and define these needs, the better you will do in attracting and retaining your customers.

Finish Your Recruiting Company Business Plan in 1 Day!

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Competitive Analysis

Your competitive analysis should identify the indirect and direct competitors your business faces and then focus on the latter.

Direct competitors are other recruiting businesses.

Indirect competitors are other options that customers have to purchase from that aren’t directly competing with your product or service. This includes introduction-by-acquaintance, conference coordinators, citywide associations or networking groups. You need to mention such competition, as well.

For each direct competitor, provide an overview of their business and document their strengths and weaknesses. Unless you once worked at your competitors’ businesses, it will be impossible to know everything about them. But you should be able to find out key things about them such as

• What types of customers do they serve?
• What type of recruiting company are they?
• What is their pricing (premium, low, etc.)?
• What sets their business apart from others?
• What are their weaknesses?

With regard to the last two questions, think about your answers from the customers’ perspective. And, don’t be afraid to ask your competitors’ customers what they like most and least about them.

The final part of your competitive analysis section is to document your areas of competitive advantage. For example:

• Will you provide a bonus for temporary workers who complete their assignment?
• Will you offer products or services that your competition doesn’t?
• Will you provide better customer service?
• Will you offer better pricing?

Think about ways you will outperform your competition and document them in this section of your plan.

Marketing Plan

Traditionally, a marketing plan includes the four P’s: Product, Price, Place, and Promotion. For a recruiting company business plan, your marketing strategy should include the following:

Product : In the product section, you should reiterate the type of recruiting company that you documented in your company overview. Then, detail the specific products or services you will be offering. For example, will you provide part-time employees especially trained to work with senior citizens in physical therapy?

Price : Document the prices you will offer and how they compare to your competitors. Essentially in the product and price sub-sections of your plan, you are presenting the services you offer and their prices.

Place : Place refers to the site of your recruiting company. Document where your company is situated and mention how the site will impact your success. For example, is your recruiting company located in a busy retail district, a business district, a standalone building, or purely online? Discuss how your site might be the ideal location for your customers.

Promotions : The final part of your recruiting company marketing plan is where you will document how you will drive potential customers to your location(s). The following are some promotional methods you might consider:

• Advertise in local papers, radio stations and/or magazines
• Reach out to human resources executives
• Distribute direct mail pieces to your target audience
• Engage in email marketing
• Advertise on social media platforms
• Improve the SEO (search engine optimization) with target keywords on your website

Operations Plan

While the earlier sections of your business plan explained your goals, your operations plan describes how you will meet them. Your operations plan should have two distinct sections as follows.

Everyday short-term processes include all of the tasks involved in running your recruiting company, including answering calls, planning and scheduling new hire introductions, paying invoices, contacting customers, etc.

Long-term goals are the milestones you hope to achieve. These could include the dates when you expect to place your 100th candidate, or when you hope to reach $X in revenue. It could also be when you expect to expand your recruiting company to a second or third location.

Management Team

To demonstrate your recruiting company’ potential to succeed, a strong management team is essential. Highlight your key players’ backgrounds, emphasizing those skills and experiences that prove their ability to grow a company.

Ideally, you and/or your team members have direct experience in managing recruiting company businesses. If so, highlight this experience and expertise. But, also highlight any experience that you think will help your business succeed.

If your team is lacking, consider assembling an advisory board. An advisory board would include 2 to 8 individuals who would act as mentors to your business. They would help answer questions and provide strategic guidance. If needed, look for advisory board members with experience in managing a recruiting business or successfully serving as an human resources manager is a corporation.

Financial Plan

Your financial plan should include your 5-year financial statement broken out both monthly or quarterly for the first year and then annually. Your financial statements include your income statement, balance sheet, and cash flow statements.

Income Statement

An income statement is more commonly called a Profit and Loss statement or P&L. It shows your revenue and then subtracts your costs to show whether you turned a profit or not.

In developing your income statement, you need to devise assumptions. For example, will you serve 25 candidates and 10 client executives per day, and/or offer special recruiting company sales online? And will sales grow by 2% or 10% per year? As you can imagine, your choice of assumptions will greatly impact the financial forecasts for your business. As much as possible, conduct research to try to root your assumptions in reality.

Balance Sheets

Balance sheets show your assets and liabilities. While balance sheets can include much information, try to simplify them to the key items you need to know about. For instance, if you spend $50,000 on building out your recruiting business, this will not give you immediate profits. Rather it is an asset that will hopefully help you generate profits for years to come. Likewise, if a lender writes you a check for $50,000, you don’t need to pay it back immediately. Rather, that is a liability you will pay back over time.

Cash Flow Statement

Your cash flow statement will help determine how much money you need to start or grow your business, and ensure you never run out of money. What most entrepreneurs and business owners don’t realize is that you can turn a profit, but run out of money and go bankrupt.

When creating your Income Statement and Balance Sheets be sure to include several of the key costs needed in starting or growing a recruiting company business:

• Cost of office equipment and technology software
• Cost of furnishings or accessories
• Payroll or salaries paid to staff
• Business insurance
• Other start-up expenses (if you’re a new business) like legal expenses, permits, computers, office supplies and equipment

Attach your full financial projections in the appendix of your plan, along with any supporting documents that make your plan more compelling. For example, you might include your office location lease or a list of friends and associates who are already lined up to contract for recruiting services from your business.

Writing a business plan for your recruiting company is a worthwhile endeavor. If you follow the template above, by the time you are done, you will truly be an expert. You will understand the recruiting company industry, your competition, and your customers. You will develop a marketing strategy and will understand what it takes to launch and grow a successful recruiting company.

Recruiting Company Business Plan FAQs

What is the easiest way to complete my recruiting company business plan.

Growthink's Ultimate Business Plan Template allows you to quickly and easily write your subway business plan.

How Do You Start a Recruiting Company Business?

Starting a Recruiting Company business is easy with these 14 steps:

• Choose the Name for Your Recruiting Company Business
• Create Your Recruiting Company Business Plan
• Choose the Legal Structure for Your Recruiting Company Business
• Secure Startup Funding for Your Recruiting Company Business (If Needed)
• Secure a Location for Your Business
• Register Your Recruiting Company Business with the IRS
• Open a Business Bank Account
• Get a Business Credit Card
• Get the Required Business Licenses and Permits
• Get Business Reiki for Your Recruiting Company Business
• Buy or Lease the Right Recruiting Company Business Equipment
• Develop Your Recruiting Company Business Marketing Materials
• Purchase and Setup the Software Needed to Run Your Recruiting Company Business
• Open for Business

Learn more about how to start your own recruiting agency business . 

Where Can I Download a Free Business Plan Template PDF?

Click here to download the pdf version of our basic business plan template.

Our free business plan template pdf allows you to see the key sections to complete in your plan and the key questions that each must answer. The business plan pdf will definitely get you started in the right direction.

We do offer a premium version of our business plan template. Click here to learn more about it. The premium version includes numerous features allowing you to quickly and easily create a professional business plan. Its most touted feature is its financial projections template which allows you to simply enter your estimated sales and growth rates, and it automatically calculates your complete five-year financial projections including income statements, balance sheets, and cash flow statements. Here’s the link to our Ultimate Business Plan Template.

Don’t you wish there was a faster, easier way to finish your Recruiting Company business plan?

OR, Let Us Develop Your Plan For You

Since 1999, Growthink has developed business plans for thousands of companies who have gone on to achieve tremendous success.  

How to write a business plan for recruitment in 2024 (template included)

• Published on June 3, 2020
• Updated on February 12, 2024

Writing a business plan in recruitment has always played a crucial part in the interview process for a number of recruitment agencies around the world.

A comprehensive business plan can demonstrate a recruiter’s commitment, knowledge and commercial acumen. During economic uncertainties in 2023, these qualities are more important than ever.

Arriving at an interview armed with a comprehensive business plan before you’re even asked will no doubt set yourself apart from other recruiters.

During economic uncertainties, managers will need to present a business case to leadership for budget approval in order to make a hire. Your business plan will be an important element of this business case. An impressive business plan could be the difference between landing an offer today, or falling into a pipeline of other candidates.

In this article, we share a step-by-step guide outlining how to create a comprehensive business plan. We walk through the key components and include examples.

At the end of the article, you can download a free recruitment business plan template which is tailored towards the key components mentioned in this article.

A business plan should be packed full of relevant information but should be compressed and to the point. Avoid verbiage, stay specific and keep to 4 – 6 pages.

Introduction

Start with a title. Include your name and the company you’re writing the business plan for. A little personalisation will go a long way.

Underneath your title, outline the objective of your business plan and again personalise it towards the agency you’re interviewing with. While you have the hiring manager’s attention, this paragraph is an opportunity for you to demonstrate how comprehensive your business plan is. The aim is to capture the hiring manager’s interest so they continue to read each component:

“The objective of this business plan is to outline the value I can add to employer’s name.

In this business plan, I have highlighted my specialism, hiring activity in my market, my candidate and client strategies, my methodology, how I plan to recruit through economic uncertainties in 2023, my competition and my personal revenue projections over 12 months.”

You can use this paragraph as a way to introduce your business plan verbally if you’ve called up a hiring manager. You can also use this extract in a cold email.

Your specialisation

This is a crucial positioning statement for your value-add. It sets out precisely where your network and experience lies and what you intend to bring to the table in your new role.

Your specialisation can be described clearly by outlining what roles you will specialise in, what industries you will target, what level of seniority you will focus on and what geographies you will cover.

For ease of reading, you can use each component as a title and use bullet points to expand upon your answers.

Taking a Technology recruiter as an example:

What roles I will specialise in:

• Product Management permanent roles
• UX/UI Design permanent roles

What industries I will target:

• Series A – C funded technology startups (high investment, high growth and high volume of roles)

What level of seniority I will focus on:

• Mid to senior (120 – 180k salary range for Product Managers, 140 – 200k salary range for Designers)

What geographies I will cover:

• Based in Singapore, the local market will be my core market
• Secondary markets include Jakarta, Bangkok and Kuala Lumpur due to less competition from recruiters and high volume of roles

Hiring activity trends

The hiring activity trends section provides an opportunity for you to demonstrate and portray your knowledge of the market.

The 3 important components of this section are: hiring activity over the past 3 years, hiring activity for next year and how you predict hiring activity to shift beyond that.

Utilise your own knowledge of the market but back it up with research gained from reputable sources related to your market e.g. Tech in Asia, Tech Crunch, Channel News Asia, The Straits Times or The Financial Times.

You’ll want to cover how hiring activity has increased or decreased, what the drivers of growth are in your industry and what the threats and challenges are within your sector.

Candidate strategies

Moving on from market trends, this section indicates how you will acquire candidates for your desk. It offers an opportunity for you to demonstrate the experience you’ve learnt in candidate management from your previous firm, but also an opportunity for the employer to ensure that your approach aligns with theirs.

3 key components of this section include: how you will generate candidate leads, what challenges you expect to face and how you will overcome these challenges.

Taking a Front Office Banking & Financial Services recruiter as an example:

How do I plan to generate candidate leads:

• Direct headhunting using a LinkedIn Recruiter account, this costs approximately $X amount, the key benefits being access to a high volume of InMails and enhanced search capability. This has been the sourcing tool for 60% of my previous placements

Challenges I expect to face:

• In light of economic uncertainties in 2023, highly sought-after candidates may be risk-averse and may not see this as a good time to move jobs

How I will overcome these challenges:

• I will develop relationships with these candidates for the future but I will adjust my sourcing strategy accordingly by increasing volume of direct approaches

Client strategies

A similar section to candidate strategies but geared towards clients. Arguably more important than candidate strategies during a recession as the market could be job-short – even in the good times, strong business development capabilities in recruiters are harder to find.

This section includes 6 key components including how you plan to onboard new clients, how you plan to sustain relationships with clients for repeat business, what industries your clients are in, the challenges you expect to face and how you will overcome these challenges.

Take these bullet points as a basic example:

How I plan to onboard new clients:

• During a recession, I plan to cultivate relationships by helping and consulting clients on non-recruitment related issues, such as advising clients on the current state of the market
• I plan to generate leads by making 25 cold calls per day during the ramp-up period, to again offer support and advice where needed, and to leverage any open roles
• A soft approach of connecting with hiring managers, HR contact and C-Level candidates on LinkedIn, to establish working relationships and eventually convert into clients

How I plan to sustain relationships with current clients and win repeat roles:

• The most important way to sustain relationships is by offering a service that is superior to competitors. That is by being transparent, sticking to deadlines and delivering results
• Regularly catch up with clients on a monthly basis to see how they’re doing and see if you can generate new roles
• Keep yourself updated on company news and congratulate clients on milestones e.g. if they generate a Series C round of funding

What industries I will target clients in:

• Series A – B funded technology startups
• During a recession there is less of an appetite to use agencies due to an unprecedented volume of great candidates available in the market
• Offer free support to companies currently not using agencies, provide an impressive service and convert into paying client post-recovery

The 6th component is “examples of target clients” and this is where you can really demonstrate tangible market knowledge. Use company names, find the potential contact in each company and add your comments, such as the volume of roles you expect from that client. 5 examples should be enough to peak your hiring manager’s interest.

You can use a table to display this information with ease:

It goes without saying that you should never be tempted to use information that is proprietary to your previous employer. This information can be openly found with some basic LinkedIn research.

My methodology

Are you a recruiter that is focussed on crunching numbers? Are you a recruiter who is focussed on cultivating long-term relationships? In this section, you can include a few quick bullet points to explain how you approach recruitment. This information gives your hiring manager an indication about whether you hold similar values and whether you have similar working styles.

How you can adapt to recruiting during a possible economic downturn

This section is a new one in response to market conditions in 2023 but can demonstrate how you are prepared to deal with current and upcoming challenges.

You can use this section as the title and include bullet points to outline how you will adapt to these market conditions.

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My key competitors

Which recruiters and agencies offer the greatest competition? Demonstrating your knowledge in this area highlights that you are commercially aware outside of your core market.

Include about 5 different competitors who are directly competing in your patch. You can use the table below to display this information:

Personal revenue and target projections

In many business plans, financial projections are of utmost importance and can demonstrate your commercial acumen. If you’ve ever watched Dragon’s Den, you’ll know what happens when you don’t know your numbers!

Project your personal revenue for 4 quarters. You can start your calculations by predicting the average annual salary of a candidate in your patch. You can project your average percentage fee agreed with clients and from there you can calculate your average fee. Once you have this, you can predict the amount of placements you’ll be making per month.

Make sure your revenue projections are realistic and achievable. Avoid the temptation to predict vastly optimistic revenues, especially during a possible recession. You must allow time to ramp-up and there must be a logical relationship between your historical and predicted revenues.

The plan only includes project revenue. Your historical revenue should be on your CV.

Take the below as an example:

My predicted average annual salary of candidates:

My predicted average percentage fee agreed with the client:, my predicted average fee:, my predicted average placements per month, my projected revenue over 12 months.

Underneath, you can also include the KPIs you will set yourself to guide you in achieving these numbers. For example, you can set yourself a guideline for how many CVs you need to send, how many candidate meetings you need to arrange, how many client meetings you need to arrange and so on.

The template

We’ve constructed a free template built around the components mentioned above, so you can create your own for when you reach out to hiring managers.

To download this template, please add your email below and you’ll be redirected to the template.

By downloading our busines plan, you agree to our  Privacy Policy and Notification Settings .

This step-by-step guide should give your hiring manager a clear idea of your plan. If executed successfully, you’ve already demonstrated your commitment, knowledge and commercial acumen before even attending an interview.

The way you’ve structured your plan will give your hiring manager a very clear indication of your methodology and whether you’d fit their structure. Keep in mind that if your methodology is focused on high volume recruitment, it’s not going to work well with an executive recruitment agency.

As a next step, learn this plan inside and out. Be prepared to pitch your plan to your hiring manager and answer detailed questions surrounding each component.

Leave your interviewer with no room for concern and secure that role! Lastly, if you enjoyed the article, please consider subscribing or following us on LinkedIn to have new articles for recruiters like this delivered directly to your inbox.

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As Founder of Charterhouse Partnership, I led the opening of 5 international offices, hiring & training hundreds of recruiters. Please subscribe to our weekly newsletter where I share my insights on the recruitment industry.

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All About People

Executive summary executive summary is a brief introduction to your business plan. it describes your business, the problem that it solves, your target market, and financial highlights.">.

All About People (AAP) began out of the desire to contribute to this community, just as communities have fed All About People’s proprietor over the years. Although originally from a larger market, the proprietor realizes the need in the southern Willamette Valley for a personnel agency that fills a void left by other temporary and permanent placement agencies. AAP matches specifically skilled workers with clients, saving businesses time and money, while providing for its employees with honesty and honor. This requires a high level of communication. It means asking open-ended questions and listening, not talking. This means knowing the local market so AAP can really serve each client and employee, not just “sell” them our goods. AAP is quality service.

The long-term vision includes a number of offices throughout the southern Willamette Valley. The proprietor sees the challenge in this vision, not in the growth itself, but in training and encouraging all AAP personnel to treat each client and employee with the same care and with the same level of communication.

Managing our Growth AAP is a sole proprietorship that will convert to an S Corporation. As a new corporate entity, AAP will be treated as a start-up in this business plan. During the past couple of years the proprietor provided all services. In Year 1, the company will add a part-time office staff person and an employment specialist. In response to this growth, AAP will have a procedures manual for in-house staff to assure that the information is clear. In addition, AAP will provide employees with regular training within the divisions to assure they understand the details of the work they are doing daily. Year 2 projections include a receptionist, another employment specialist, and a field representative. In Year 3, AAP will examine the feasibility of opening a branch office in the Salem, Bend, or Medford/Ashland areas.

The Market AAP is structured like other temporary and permanent placement agencies. However, it will serve clients with needs for select, specialized professionals rather than clerical or light industrial workers. Several businesses in Portland, Oregon provide a similar service to specific groups of people, but there are none for the Willamette Valley. AAP has five divisions, targeting the following areas of expertise:

• Editors/Writers

Event Planners

Graphic Artists

• Interpreters/Translators.

Services AAP will handle recruiting, including reference checks, skills evaluation, preliminary interviewing,  and screening of all employees for its clients. AAP acts as an extension of the client’s human resource department, assuring that there is open communication between supervisor and employee, and assisting with any troubleshooting or problem solving that may be needed.

Financials The company’s start-up requirements are $55,464, of which $7,600 will be provided for by the owner’s personal investment. The rest will be obtained through loans.

We expect to be able to charge a 50% markup to our business clients. Thus, if an employee is being paid $10 per hour, we are charging the client $15 per hour. The company predicts that it will be able to produce sales of approximately $300,000 by Year 3. The company does not have any direct cost of sales; we track payments to placed individuals as regular payroll.

1.1 Objectives

AAP is structured like other temporary and permanent placement agencies. However, we serve clients with needs for select specialized professionals, rather than clerical or light industrial workers. Several businesses in Portland, Oregon provide a similar service to specific groups of people. AAP followed the model of one placement firm described below.

A contract engineering firm places temporary workers who are hardware and software engineers. Employees earn between $80- $100 per hour and approximately seven employees are placed per month. The firm recruits through its website, advertises in newspapers, magazines, and trade publications. Incentives offered to contingent workers include medical, dental, and disability insurance, 401(K), and a reference finder’s fee for placement referrals. They find their employees are 60 percent male, 40 percent female, and ages spread evenly.

AAP serves the business client by locating a professional worker, interviewing and screening that worker, setting up interviews if necessary, and administering all hiring paperwork. The company runs payroll and bills the client bi-monthly. AAP will also manage the professional, staying in close contact with the client and communicating with the worker regarding any personnel issues that may arise.

The professional worker is served with employment opportunities at no cost; pay rates that are within industry standards; and health insurance may be purchased, if a worker becomes eligible, at a group rate starting at $124/mo. AAP will pay $65/mo for any coverage chosen from the group package.

1.2 Mission

All About People’s mission is to contribute to the community by filling a need for specialized, professional, contingent workers. The company will provide workers with a safe and independent environment. It will also provide businesses with a high-caliber of employee available for project or permanent work. All About People listens to individual needs and customizes personnel solutions for both businesses and workers.

Company Summary company overview ) is an overview of the most important points about your company—your history, management team, location, mission statement and legal structure.">

AAP is a temporary and permanent placement personnel agency working solely with skilled, professional workers and Willamette Valley businesses. AAP differs from other temporary and permanent placement agencies because of our skilled workers. The company believes that the temporary industry pays only cursory attention to providing businesses highly qualified workers for permanent and non-permanent positions. AAP has five divisions, targeting the following areas of expertise:

AAP does not provide general clerical, light industrial, engineers, accountants, nurses, or other medical technicians.

AAP does the following for each client:

• Recruiting (reference checking)
• Skills evaluation (preliminary interviewing)

AAP conducts regular evaluations: AAP checks in with the supervisor and the worker during the first week on the assignment. AAP then checks in as agreed with the client. AAP acts as an extension of the client business’ human resource department assuring that there is open communication between supervisor and employee, and assisting with any troubleshooting or problem solving that may be needed.

Prior to opening our doors, research showed support for the development of a personnel agency working solely with professional contingent workers and Willamette Valley businesses (see topic 7.3 Supporting Research).

According to the Oregon Department of Employment, Lane County has 31 temporary agency firms with 3200 individuals employed. Total employment figures for Lane County are 250,000; therefore, we support between two and four percent of the population.

Through connections in a variety of areas, AAP is able to locate qualified workers not only through advertising, but through a channel of networking. This past year has shown that qualified, willing workers are certainly available as we currently have hundreds on staff willing and able to work.

2.1 Company Ownership

AAP is a sole proprietorship that will convert to an S Corporation. As a new corporate entity, AAP will be treated as a start-up in this business plan.

The sole proprietor, Sarah Wayland, can be reached at AAP’s office, [contact information omitted in this sample plan].

2.2 Start-up Summary

Projected start-up figures are shown in the chart and table below.

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The company is uniquely positioned to take advantage of this market opportunity because of the management and field expertise of the proprietor. Sarah Wayland worked in the temporary employment industry for three years with ADIA Personnel Services (now ADECCO) as Area Account Manager (in training as a branch manager): building business relationships; hiring employees; handling employee issues; working with clients during the implementation of ADIA; and opening an additional office in Beaverton, Oregon.

For one year the proprietor was a District Sales Manager at Columbia Distributing, showing a 10% increase on $3.5 million in annual sales. Managing a staff of nine in sales and customer service, she had the opportunity to delve further into hiring/firing, reviewing, incentives outside of salary, and personnel issues.

Most recently, she has spent several years as Funds and Contracts Manager at the Oregon University System; managing four grants totaling $1.5 million annually and all personal service and interagency contracts as well.

The proprietor’s most notable success was bringing the second branch of Cellular West located in Portland, Oregon, from running in the red, to breaking even within four months of its opening. She accomplished this by using motivational tools and providing the sales force with extensive training.

3.1 Products and Services Plan

Changing labor market conditions threaten the concept of full-time permanent employment.

AAP provides a complex blend of services to distinct populations. The company serves businesses through connecting them with the professional contingent work force. It also serves the worker by connecting them with businesses, at no charge, and providing benefits not often provided by other employment agencies.

Market Analysis Summary how to do a market analysis for your business plan.">

All About People (AAP) is a local firm that costs less than a consultant or agency, provides for both project and long-term needs, and has an easy, pay and billing rate system that covers employee payroll and worker’s compensation insurance.

There are a variety of reasons why businesses may need AAP’s services:

• Spikes in work load
• Business expands into an area that in-house expertise does not yet match
• Special events
• Pregnancy leave or sabbatical
• Business increases after layoffs
• Smaller business does not yet have staff on-hand to complete extra projects.

According to economic forecasters, employment agencies and financial services are expected to have the largest industry growth over the next 25 years. The trend toward businesses cutting back on employees and their benefits due to high costs creates the demand for AAP’s services.

Just consider the time, energy, and resources an employer may spend trying to employ a person for a 20-hour task.

In addition to the already lucrative temporary industry, several companies in the Portland Metro Area place professional contingent workers, but the southern Willamette Valley is not currently being served.

The company approaches businesses primarily through networking and cold calls. Our intention is to utilize a PR agency for more coverage as soon as possible. AAP is a member of the area Chamber of Commerce and actively participates in as many activities as possible, the proprietor is a member of the Women’s Business Network, the Professional Women’s Organization, and we are in the process of connecting with the Society for Human Resource Management. Prior to start-up, AAP also surveyed several area businesses about their use of contingent workers. The company will use its website and other marketing materials that describe what services we provide and explain how simple it is to work with us.

AAP advertises in local papers and trade magazines when absolutely necessary, but most often uses the Oregon Employment Department, both community college and university campuses, and the networking groups we are members of to search out the right employee. Prior to the sole proprietor start-up, the company started recruiting by administering twenty personnel surveys and advertising locally to create a staff of qualified contingent workers. This staff will be unaffected by AAP’s corporate restructuring.

4.1 Market Segmentation

The market can be broken down into two segments: the business market segment, and the employee market segment. Both of these segments are lucrative.

Business market targets: The company targets the University of Oregon, Lane Community College, the nonprofit organizations, the publishing industry, the advertising industry, and other large businesses.

Employee market targets: Editors/writers, graphic artists, computer specialists, event planners/fundraisers, and language translators/interpreters working in the business target markets listed above, as well as any applicants with unusual skills and talents.

4.2 Service Business Analysis

These charts demonstrate the types of workers employed, the type of qualified professionals on file to work for the company, and the types of businesses who have used AAP’s services. These statistics cover the 15-month sole proprietorship period from July 1, 1998 through September 30, 1999.

Types of workers employed by or signed up with AAP

Types of employers using AAP

Each and every contact is entered into the database-either in the professionals file if they are a potential candidate, or in the contacts file if they are another type of contact. The client and jobs files utilize the contact and client numbers to automatically fill in the information from the contact or client files. This means no duplicate typing. In addition, the contacts, clients, and professional files all have follow-up sheets attached making daily follow-up easy. Simply pull the file up for that day and all calls that need to be made that day will be marked.

Searching is easy. The check boxes within each professionals file allows us to check for singular or multiple skills and experience with a click and a return.

4.2.1 Competition and Buying Patterns

First form filled out from the moment the candidate calls. Three screens constitute one file: Personal Information; Job Information; Skills. The professional and contact files have a conversation record that will allow easy follow-up with a list daily of those records needing a call.

Interview Form

Directly from the employee forms the Employment Specialist can select the appropriate interview form. This form consists of three sheets: Basic Questions; Other Information/Recommendations; and Reference Checks.

Employee Profile Sheet

From the above information, a profile sheet is generated in hard copy for the inside of each file. This is our second backup system (besides the tape drive) in case of a power outage, etc.

4.2.2 Contact Sheet

This form is used for all other contacts. From here, a contact can be turned into a client by merely typing the contact number in on the client sheet, automatically bringing in all of the information.

4.2.3 Client Sheet

The client sheet is easily created by filling in the contact number. All pertinent information is automatically entered. The client sheet has its own contact sheet attached generating a daily follow-up list. The client files can also be pulled into a handy contact list.

Strategy and Implementation Summary

AAP is completely service minded, customizing personnel packages and offering the most it can to both employers and employees. The company brokers professional workers to Willamette Valley businesses. Because we serve two distinct groups of people, both businesses and employees will be considered equally important to AAP.

The company consists of five divisions, targeting the following types of workers and needs in businesses:

Computer Division

• Computer Application Specialists
• Computer Hardware Specialists
• Computer Programmers
• Network Administrators
• Web Specialists

Editor/Writers

• Multi-lingual
• PR/Marketing
• Fundraisers
• Large and Small

Language Interpreters and Translators

• Multiple Languages
• Person-to-Person

Within these categories, we originally set up a system of single sheets on card stock and filed them in binders. Since then, an electronic database has been created by one of our professionals. With the push of a button, AAP can search for a client or an employee needed.

Businesses and employees will be able to communicate with AAP via both new technological and traditional methods. Our Web page provides information about AAP including what professional fields we serve, what clients we are working with, and what services we offer. A second-generation Web page will provide information about employees for businesses through a password-protected area. AAP forwards candidates’ resumes and other information through a variety of methods: phone, fax, personal visit, mail, and the Web page.

In August 1999 we moved the offices to the center of town. Accounting is handled electronically by the proprietor through QuickBooks, with the complex needs handled by our CPA. All payroll is generated through the payroll service, Paychex. The office is furnished with all of the technology needed to operate on a daily basis, increase market share, and serve clients.

5.1 Competitive Edge

When a business is contacted and expresses interest in contingent employees that the company can provide, the following procedures will be followed:

• Consult with client and create a follow-up plan.
• Complete the contact, client, and job sheet in the database.
• Print one of each and forward a copy of the job sheet on yellow paper to the employment specialist.
• File original sheets in the appropriate binders.
• Search for matches in the database and pull each folder that looks like it will work.
• Review that folder to assure a match.
• Call each potential candidate and discuss the job and pay to its fullest.
• Fax, e-mail, or otherwise contact client with information and/or resumes for review.
• Schedule interviews or make a decision on appropriate candidates.

5.2 Sales Strategy

When an employee seeks to work with the company, the following procedures will be followed:

• Complete the professional’s form in the database.
• While completing this sheet, screen the employee for experience levels, requiring professional experience in each arena they wish to work.
• Set up an interview with the employment specialist if the professional is qualified.
• Create a file for each employee and place all paperwork, along with a copy of the professional’s form.
• Keep in touch with the professional quarterly if nothing comes up, more often if at all possible.
• When the professional agrees to a position, they will be supplied with an employee policy manual, pieces of letterhead for invoicing, and will complete the IRS I-9 and W-4 forms prior to beginning work.

5.2.1 Sales Forecast

Our sales forecast projections are presented in the chart and table below. Three years annual projections are shown in the table.  The chart shows first year monthly forecast.  First year monthly table is included in the appendix.

5.2.2 Target Market Segment Strategy

The pay rate data will be determined by changing market factors including business demand.

Our experience shows that the following is true in regards to pay and bill rates. A “good deal” for most temporary agencies is a 50% of pay rate markup. Thus, if the pay is $10, the bill is $15. However, we have traditionally used a flat markup that seemed appropriate. Pay and bill rates generally are outlined as follows:

Editors Most editors require between $25 and $35 per hour, and our history has shown a $10 per hour markup is acceptable. One exception is in the technical arena, garnering between $45 and $55 per hour pay; again a $10 per hour markup is typical.

Writers The only writing we have done is creative for [client name omitted], and we paid $15 with a $10 markup.

Event Planners Event planners often will work for between $12.50 and $25 per hour, depending on the length of the job, requirements, and experience needed. We find a $5 per hour markup on the $12.50-$17.50 is reasonable, and a $10 per hour markup on anything over $17.50 per hour.

Fundraisers Fundraisers can start at $10 per hour (nonprofit) and go up to $20 per hour. This usually depends on client and length of assignment. Bill rate markup for nonprofits is $5 per hour, others between $7.50 and $10 per hour.

Graphic Artists Entry level beginning at $12.50 per hour, intermediate at $15 per hour, and a top of the line professional at $25 per hour. The exception may run about $50 per hour. Bill rates are between $7.50 per hour markup ($12.50-$15), and $10 markup.

Language Interpreters This is a tricky arena. Pricing depends on the language (typical/atypical) and the length of the assignment. Interpreters have been known to work for as little as $15 per hour and for as much as $35 per hour. A $10 per hour markup is acceptable.

Language Translators This division is difficult as each language and situation varies slightly. Translators tend to work by page or by word. Technical translation can be as much as $.30 per word. Other translation can be $10 per hour (an hour a page). We are unsure of markup at this time, but would suggest 50% of pay rate.

Computer Specialists:

• Application-Starting at $12.50 an hour based on Xerox experience. Markup $5 per hour.
• Programmer-Starting at $20 an hour based on AlbertIQ experience. Markup $10 per hour at a minimum. Try for $15.
• Web Designer-Entry level positions can start at $10 per hour with a markup of $5. Project work typically starts at $15 an hour, markup at least $10 per hour.
• Administration-Pay rates range between $50 and $75 per hour, with a preferred markup of $25 per hour.

When determining the bill rate, additional expense factors to remember above the pay rate are 15% employer taxes, advertising, and staff time to fill the position.

5.3 Milestones

The company has an outstanding client list and an incredible number of qualified employees available. AAP has a good reputation for providing qualified people in a timely manner.

Management Summary management summary will include information about who's on your team and why they're the right people for the job, as well as your future hiring plans.">

In a variety of settings the proprietor of AAP has strong management experience. The proprietor has the skills to not only listen well, drawing out a person’s needs through open-ended questions, but also has the ability to recognize people’s strengths and weaknesses. She will draw upon this extensive successful experience in addition to the knowledge collected over a period of 18 years working professionally. Much of the “people” skills have been developed during the seven years spent in management roles. This experience, along with a varied background, supports AAP’s goals.

AAP’s objectives are threefold:

• To provide high quality, experienced, professional workers to businesses that are currently relying on the instability of word-of-mouth contacts, and are spending much of their time and resources (and, therefore, money) locating such workers;
• To provide these workers with a path by which to reach the employer without spending their own time, money, and energy finding the work; and
• To use this opportunity to make the contingent work force a better place for both the employer and the employee.

The long-term goal of the company is to franchise and/or to become multi-location, and eventually sell this business.

Management is a style, a belief, and a strategy.

In managing our clients, AAP will communicate regularly with them, setting up a schedule that meets their needs. The company will set goals for retention of clientele and strive to reach those goals by building relationships, listening to the client’s needs, and meeting those needs with a smile on our faces. We will take responsibility for our errors and the outcome.

In managing our workers, AAP will communicate regularly with them, providing them with an employee manual to minimize their confusion, and offer them the best pay and benefits possible. AAP will set goals for retention of employees and strive to reach those goals by treating each employee with respect, provide protection when appropriate, and do everything within our power to assure a healthy working environment.

This is a relationship business. AAP will manage all clients and employees through relationship building.

During 1998-99 the proprietor provided all services. In 2000 the company will add a part-time office staffer and an employment specialist. In response to this growth, we will have a procedures manual for in-house staff assuring that the information is clear. In addition, we will provide employees with regular training within the divisions to assure they understand the details of the work they are doing daily. 2001 projections include a receptionist, another employment specialist, and a field representative. In 2002 AAP will examine the feasibility of opening a branch office in the Salem, Bend, or Medford/Ashland areas.

6.1 Payroll

All About People runs its payroll twice a month. Each professional will be given a check schedule when they work with AAP. Each check covers the previous two weeks.

In order to process payroll; AAP must receive a professional’s signed invoice the Wednesday prior to payday. The invoice, must be on AAP letterhead and include: name, social security number, mailing address, dates of work completed, location worked (at home, at the client’s office), one or two sentences describing what tasks were completed, and how much time was spent each day. At the bottom there must be a place for the client to sign and date in acceptance of the work to date. The original will be submitted to AAP, the client will receive one copy, and the professional will keep a copy.

AAP is unable to provide payroll advances. If a check is lost in the mail, we must wait seven days from the date of mailing, and then if the check has not arrived we will stop the check at the bank and have one reissued.

6.2 Benefits

Because we value our employees, we have employee group health insurance available, and contribute a major portion of the monthly premium. According to the Insurance Pool Governing Board (IPGB) employees must work at least 17.5 hours per week. Employees who work intermittently or who have worked fewer than 90 calendar days are not eligible. IPGB also states that all carriers may decline to offer coverage to the business or to any employee.

Technically, All About People is employer of the professionals we place. This means that we are responsible for covering the worker’s compensation insurance, running payroll, and that we are the ones to whom each employee is responsible. We understand that this can be tricky when employee professionals are working with a client, so we want to describe the expectations of this relationship:

• If the professional doesn’t understand the work or assignment that has been given by the client, then discuss the work with the client.
• If there are issues at work, the employee should inform AAP and then speak with the client.
• If these issues continue, the employee should talk with AAP immediately.
• If the professional feels they are being harassed at work they should let AAP know immediately.
• If the employee should be being asked to perform tasks other than the original assignment, the employee should talk with AAP before beginning any tasks other than the original assignment.
• If the professional is being asked to work overtime (more than 40 hours per week), they should let us know immediately.

AAP does not guarantee either work or wages when you join us to become an AAP employee. We will, of course, strive to keep you as busy as possible. AAP is also not able to guarantee an hourly wage prior to the assignment beginning. If you work on a job, and complete the work successfully, you will be paid at the agreed rate.

This employment relationship differs from others because you, AAP, or the client may end your employment with or without notice and with or without reasons. However, if you accept a job with AAP, we do expect you to finish the assignment.

Marketing Strategy

AAP’s target market is both businesses and professional workers. Phase one of the marketing plan will target the University of Oregon, the technology industry, and the top 500 businesses in Eugene through networking and cold calling. Phase two will target small businesses with less than five employees because smaller businesses may not have the in-house capability to locate, evaluate, and hire potential professional contingent workers through a small PR campaign.

7.1 Businesses

We began marketing the businesses through several personnel surveys. The University of Oregon Alumni Association, University of Oregon Foundation, and University of Oregon Human Resources Department, as well as Symantec’s Human Resources director were approached for information regarding their need for professional temporary and permanent workers. These initial interviewees have all (with the exception of U of O HR Dept) become clients within the first year of business. After these personnel surveys were complete, we adjusted our recruitment of professional workers to meet the demand.

Another tactic was joining multiple business groups. AAP became a member of the Eugene Chamber of Commerce and attends the weekly greeters meetings; the Women’s Business Network and attends the monthly meetings; the Professional Women’s Organization and attend the monthly meetings; as well as the City Club, keeping a pulse on what is happening in the community, attending as the proprietor sees fit.

The next approach is face-to-face cold calls. The tools for these calls are simple-a business card and a brochure. The information collected during the cold call is vital: how many employees does the business have; in what areas have they experienced a need for professional contingent employees; and who is the appropriate contact.

7.2 Professional Workers

Our beginning point in marketing to workers was approximately 30 personnel surveys to professional contingent workers, building the foundation of our database.  AAP intends to recruit workers through advertising in the newspaper and appropriate trade magazines, trade shows, the University of Oregon career center, and by referral. We have found that each division within the company requires a different approach for recruitment. We try not to depend on newspaper advertising as we find the results are moderate. Results are far better with the employment department for some areas, with the U of O for others, and also through a series of developed contacts for the other divisions.

7.2.1 Trust

In order to build trust with both businesses and employees AAP will follow through as promised. We will treat each business, employee, and ourselves, with integrity. AAP will communicate clearly, asking businesses to specify the needs for follow-up service during the time that they employ our contingent worker. We will work with employees to assure that they have a clear understanding of what AAP offers and what we expect of them.

7.3 Supporting Research

“A fading model of employment in the United States envisions a business enterprise with full-time employees who can expect to keep their jobs and perhaps advance so long as they perform satisfactorily and the business continues. Changing labor market conditions threaten the concept of full-time permanent employment. As reported by the Conference Board in September 1995, contingent workers account for at least 10 percent of the workforce at 21 percent of the companies surveyed, or almost double the 12 percent of respondents with that number in 1990. Writing in the Monthly Labor Review in March 1989, Belous estimated that contingent workers constitutes 24 to 29 percent of the labor force in the United States. In August 1995, however, the U.S. Bureau of Labor Statistics (BLS) estimated the size of the contingent labor force at 2 to 5 percent of the total workforce. However, BLS did not count long-term part-time employees, who constitute 90 percent of part-time workers.”       — Society for Human Resource Management, The Contingent Worker: A Human Resource Perspective, by W. Gilmore McKie & Laurence Lipset taken from Chapter 1, What Is a Contingent Worker?

AAP is a service company providing businesses with customized personnel solutions by connecting them with the professional contingent work force. Research suggests that 2000 is an opportune time to be in the Eugene market with this service. Even with all of the evidence that contingent work is the wave of the present, and of the future, the niche of placing contingent workers who are paid $12.50 to $40 per hour is untapped in the Eugene area. However, a few companies place high-end contingent workers in the Portland area.

There are many reasons why businesses are turning to contingent workers. The Economic Policy Institute’s article “ Contingent Work ” by Polly Callaghan and Heidi Harmann explains that:

“Growth in involuntary part-time employment is causing total part-time employment to grow faster than total employment. Another indication of the shift toward part-time workers: hours for part-time workers are growing faster than hours for full-time workers. Temporary employment has grown three times faster than overall employment and temporary workers are being used for more hours. Contingent employment is growing faster than overall employment. Part-timers are disproportionately women, younger, or older workers. There has been a shift away from manufacturing toward trade and services. These structural changes help explain the growth in part-time employment.”

Because of the changing nature of jobs themselves, AAP’s services are desirable to employers of all sizes. Unlike five or ten years ago, many positions are so diversified, or specialized, that it is not financially feasible for an employer to hire a person to fill one position, requiring several areas of expertise. This is not financially wise for the business because of the pay range required to recruit and hire such a talented person (especially in areas such as graphics, design, etc.). The cost of payroll, taxes, benefits, and other miscellaneous staff required to run employees add to the burden of a downsized staff. Contacting AAP and using a professional contingent worker for each portion of a position as needed will solve this dilemma. Currently most businesses locate needed “qualified” workers by word of mouth. With one phone call, e-mail, or connection with our Web page, AAP makes the task easy.

In addition, Oregon’s economy is expected to continue growing, and employment, total personal and per capita income, and population growth rates are expected to exceed the national average (according to the 1997-98 Oregon Blue Book). Although Oregon’s economy is among the best there is an obvious group of contingent workers available to build an employee labor pool. The company draws from a labor pool of qualified contingent workers which consists of people who work at home, retirees, others who wish to work part-time. According to the Oregon University System, approximately 33% of bachelor’s degree graduates will be unable to find jobs in Oregon each year. So, recent college graduates are also a part of AAP’s labor pool.

Research shows that a large percentage of workers who tend to work more than one job are well-educated individuals who have a higher degree of education. According to Oregon Employment Department’s Occupational Outlook Quarterly , Spring 1997, 9.4% have Ph.D.’s; 6.5% a Professional degree; 9.1% a Master’s degree; 7.9% a Bachelor’s degree; 7.9% an Associate degree; and the remaining 15.8% lesser education. According to a Personnel Journal article “ Contingent Staffing Requires Serious Strategy ,” April 1995, there are also many retirees that enjoy doing contingent work.

Financial Plan investor-ready personnel plan .">

The following sections contain the financial information for All About People. Tables show annual projections for three years. Charts show first year monthly figures.  First year monthly tables are included in the appendix.

8.1 Important Assumptions

The financials of this plan are predicated on the following table of assumptions.

8.2 Projected Profit and Loss

Profit and Loss figures are projected in this table.

8.3 Projected Cash Flow

Our cash flow estimates are shown in the chart and table below. The owner expects to invest further amounts in the business over the next two years to finance continued growth.

8.4 Projected Balance Sheet

Three year annual balance sheets estimates appear below.

8.5 Business Ratios

The table below presents important business ratios from the help supply services industry, as determined by the Standard Industry Classification (SIC) Index code 7363, Help Supply Services.

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Table of Contents

Why a business plan is important

Provide direction,  minimise risk , reduce spending, market research , budgeting and financial planning, examples of swot analysis for a recruitment agency, opportunities , how countingup can benefit your recruitment agency.

If you’re looking to start a recruitment agency, you’ll need to create a business plan as any other startup would. Remember, though, that you’ll need to also account for the specific situations that might arise while working in the recruitment industry.

This article will serve as a guide to writing a great business plan for your recruitment agency. We’ll look at what your plan should look like, as well as why a plan is important. The topics we’ll cover include:

There are a few different reasons why you need a business plan before starting a business , but one of the most important is that it will guide your business going forward. Without a plan, no matter how simple the plan is, you’ll likely struggle to develop your business and make effective decisions. 

A business plan doesn’t have to be set in stone — you can adapt it to account for any unique events that affect your recruitment agency. That said, it’s essential to have at least a vague idea of the purpose your business will serve, the potential obstacles you might encounter, and how you’re going to deal with those obstacles.

A business plan is also necessary to minimise the risk you’ll face when starting a recruitment agency . One of the key sections of a business plan is the SWOT analysis, where SWOT stands for strengths, weaknesses, opportunities and threats.

In order to minimise risk effectively, it’s vital that you analyse both the weaknesses of your agency as well as the threats it may face. In doing so, you’ll be able to fix your weak points and avoid potential threats more effectively.

Finally, business plans are important because they provide valuable data for minimising your spending. For example, during your SWOT analysis and financial planning , you may find that you’ve budgeted a large amount of spending to support a part of your business that’s actually very strong. 

In a recruitment agency, this might mean you’ve planned to spend a lot of money on marketing, but your business already has a strong brand because you (as the owner) have many good personal contacts in the industry. In this instance, you can safely reduce your marketing budget and save your business money. 

Thorough market research is the best first step when you’re writing a business plan . Market research means examining the industry your business will exist in, and finding out the needs and preferences of that industry’s consumers.

For a recruitment agency, a key research topic for your business plan would be finding out the impact COVID-19 has had on the market. Many new markets emerged during the pandemic, which you can provide your services to. As the UK is currently recovering from the pandemic, it would also be wise to look into which industries are now recruiting heavily after laying off staff in recent years.

Planning out how you’ll spend your money when starting your agency is also a key part of a good business plan. You need to consider your budget for starting the business as well as how you’ll manage your business finances going forward.

It’s smart to prepare a budget for each section of your business. For instance, you might set aside different amounts for recruiting staff, purchasing business premises, and marketing. Your advertising budget is particularly important when you’re a small business , as you may not be able to rely on personal contacts or existing clients for referrals, so you’ll need to attract clients independently.

Conducting a SWOT analysis is a great way of evaluating your business even after starting up, but it’s particularly helpful when you first put together your business plan. SWOT stands for strengths, weaknesses, opportunities and threats, so a SWOT analysis requires you to think of an example of these for your business. In a recruitment agency, these might be:

As mentioned above, it may be that you have a good reputation because you have a wealth of experience and personal connections in the recruitment industry, so you’ll not need to worry as much about marketing.

Recruitment agencies frequently have to use a lot of software to track their clients’ needs and organise candidate applications. If you’re not very good with technology, you may need to hire staff who are to account for this weakness.

The UK is currently rebounding from the struggles of the COVID-19 pandemic, and this presents a wealth of opportunities for a good recruitment agency.

You need to take immense care when you’re handling people’s personal information, which you’ll often do at a recruitment agency. Sending this information to the incorrect person can have a considerable negative impact on your business, as there is a lot of new legislation regarding privacy. 

Your business plan should include a good amount of financial planning, as tracking your cash flow (your incoming and outgoing cash) is hugely important in any business. 

Countingup is the business current account with built-in accounting software that allows you to manage all your financial data in one app. With features like automatic expense categorisation, invoicing on the go, receipt capture tools, tax estimates, and cash flow insights, you can confidently keep on top of your business finances wherever you are. 

You can also share your bookkeeping with your accountant instantly without worrying about duplication errors, data lags or inaccuracies. Seamless, simple, and straightforward! 

Find out more here .

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How To Write a Business Plan for Recruitment Firm in 9 Steps: Checklist

By alex ryzhkov, resources on recruitment firm.

• Financial Model
• Business Plan
• Value Proposition
• One-Page Business Plan
• SWOT Analysis
• Business Model
• Marketing Plan

Are you thinking of starting your own recruitment firm? With the booming job market, the recruitment industry is thriving, and now is the perfect time to enter the field. According to the American Staffing Association, the staffing and recruiting industry generated approximately $150 billion in revenue in 2020 alone. This indicates a significant growth potential for entrepreneurs in the recruitment industry.

But before you jump into the business, it's essential to create a solid business plan that will guide you through the process. This blueprint will help you identify your target market, develop a marketing strategy, and outline your operational processes.

Here, we present a comprehensive checklist of 9 steps to help you write a business plan for your recruitment firm. From conducting market research to developing a financial plan, this guide covers all the essential aspects of starting a successful recruitment business.

• Identify your target market and niche: Determine which industry or sectors you want to focus on and identify any gaps in the market that you can fill with your recruitment services.
• Conduct thorough market research: Understand the demand for recruitment services in your chosen niche, analyze your competition, and identify any industry trends or challenges you may face.
• Define your unique selling proposition (USP): Determine what sets your recruitment firm apart from the competition. Identify the unique value you can offer to both employers and candidates.
• Determine your business structure and licensing requirements: Choose the appropriate legal structure for your business and ensure you comply with all necessary licensing and regulatory requirements.
• Develop a comprehensive financial plan: Define your startup costs, projected revenue, and expenses. Create a budget and ensure you have adequate funding to support your recruitment firm.
• Establish pricing and fee structure: Determine how you will charge employers for your services. Consider whether a contingency-based model or a different fee structure would work best for your business.
• Create a marketing and sales strategy: Outline how you will promote your services to both employers and candidates. Develop a marketing plan that includes online and offline marketing strategies.
• Outline operational processes and procedures: Define how you will handle the recruitment process, from sourcing candidates to screening, interviewing, and onboarding. Create efficient processes to ensure smooth operations.
• Conduct a competitive analysis: Evaluate your competition and identify their strengths and weaknesses. Use this information to differentiate your recruitment firm and create strategies to outperform your competitors.

By following these 9 steps, you'll be well on your way to creating a solid business plan for your recruitment firm. Remember, a well-planned business is more likely to succeed, so take the time to thoroughly research and strategize before launching your venture. Good luck!

Identify Target Market And Niche

In order to build a successful recruitment firm, it is crucial to identify your target market and niche . This step will help you focus your efforts and resources on the specific industries and job roles where you can provide the most value.

Start by conducting thorough research on the job market and analyzing industry trends. This will allow you to identify the industries and sectors that are in need of specialized recruitment services . Look for areas where there is high demand for talent and a shortage of qualified candidates. These are the markets where your firm can thrive.

Next, narrow down your target market by selecting a specific niche within the industries you have identified. This could be a particular job role or a specific skill set that is in high demand. By specializing in a niche, you can position yourself as an expert and differentiate your firm from the competition.

Here are some tips to help you identify your target market and niche:

• Consider your own expertise and background. What industries or job roles do you have the most knowledge and experience in? This can give you a competitive advantage.
• Look for emerging industries or sectors that are experiencing rapid growth. These markets often have a high demand for talent and can present great opportunities for a recruitment firm.
• Consider the geographic location of your target market. Are there specific regions or cities where your niche is in high demand?
• Research your competitors and identify any gaps in the market that you can fill. Is there a specific niche they are ignoring or not serving well?

By carefully identifying your target market and niche , you can tailor your services to meet their unique needs and positioning yourself for success in the competitive recruitment industry.

Conduct Market Research

When starting a recruitment firm, conducting thorough market research is crucial for its success. This step will help you gain a deeper understanding of the industry landscape, identify potential competitors, and uncover valuable insights about your target market.

Firstly, identify your target market and niche . Determine the industries and sectors where you want to focus your recruitment efforts. This will help you tailor your services and marketing strategies to meet the specific needs of your target audience.

Next, gather data on industry trends and demand . Research the current state of the job market, including employment rates, growth projections, and any emerging trends. This information will assist you in identifying potential opportunities and challenges.

Analyze your competition by researching other recruitment firms in your chosen niche. Identify their strengths, weaknesses, and unique selling propositions. This analysis will help you differentiate your firm and develop strategies to gain a competitive edge.

Tips for conducting market research:

• Utilize online resources, such as industry reports, job market data, and professional networking platforms, to gather relevant information.
• Interview professionals in your target industries to gain insights into their recruitment challenges and needs.
• Consider conducting surveys or focus groups with potential clients and candidates to gather their opinions and preferences.
• Stay updated on market dynamics and continuously monitor industry trends to adapt your strategies accordingly.

By conducting thorough market research, you will be equipped with the knowledge needed to make informed decisions, tailor your services, and effectively position your recruitment firm in the competitive landscape.

Define Unique Selling Proposition

One key aspect of starting a successful recruitment firm is defining your unique selling proposition (USP). Your USP is what sets your business apart from your competitors and gives you a distinct advantage in the market. It is the reason why clients should choose your firm over others, and it should clearly highlight the value you offer.

To define your USP, consider your target market and niche. What specific needs or challenges do they have that you can address? What unique solutions or expertise can your firm provide? Focus on what makes your firm different and better than others in the industry.

• Identify your strengths and core competencies that set you apart.
• Consider the industry trends and demands to position your USP effectively.
• Emphasize the benefits and outcomes clients can expect by choosing your firm.
• Communicate your USP clearly and consistently in your marketing materials and interactions with clients.

When defining your USP, it's important to focus on the value you provide to both employers and candidates. Highlight how your recruitment process is efficient, effective, and results-driven. Showcase your expertise in identifying top talent, understanding industry-specific requirements, and delivering successful placements.

Remember, your USP should resonate with your target market and clearly differentiate you in a competitive landscape. Highlight what makes your firm unique and why clients should choose you as their trusted recruitment partner.

Determine Business Structure And Licensing Requirements

When starting a recruitment firm, it is crucial to determine the appropriate business structure and familiarize yourself with the licensing requirements. This step will not only ensure legal compliance but also lay the foundation for your firm's operations and future growth.

Business Structure:

• Consider the different business structures available, such as sole proprietorship, partnership, limited liability company (LLC), or corporation.
• Evaluate the pros and cons of each structure in terms of liability, taxation, management control, and ease of formation.
• Select a business structure that aligns with your long-term goals, operational needs, and risk tolerance.

Licensing Requirements:

• Research the specific licensing requirements for recruitment firms in your state or region.
• Contact the relevant licensing authorities or regulatory bodies to gather information and clarify any doubts.
• Determine the application process, fees, and any prerequisites for obtaining the necessary licenses and permits.
• Consult with an attorney or a business advisor who specializes in the recruitment industry to ensure compliance with all legal obligations.
• Consider creating a business plan that outlines your business structure and licensing requirements, as it can be helpful when seeking funding or partnerships.
• Keep yourself updated with any changes in the licensing regulations that may affect your recruitment firm, ensuring ongoing compliance.

By carefully determining the business structure and licensing requirements at the early stages of your recruitment firm, you will establish a solid legal framework for your operations. This will not only give you peace of mind but also help you focus on delivering exceptional services to your clients and candidates.

Develop A Comprehensive Financial Plan

Developing a comprehensive financial plan is a crucial step in establishing a successful recruitment firm. It is important to have a clear understanding of your financial goals and how you plan to achieve them. Here are some key steps to consider when developing your financial plan:

• Set financial goals: Start by identifying your long-term and short-term financial goals. Determine how much revenue you want to generate and how quickly you want to grow your business. Having clear goals will help you stay focused and track your progress.
• Estimate startup costs: Calculate the initial costs of setting up your recruitment firm, including office space, equipment, software, and marketing expenses. Consider both one-time costs and ongoing expenses.
• Create a budget: Develop a detailed budget that outlines your projected income and expenses. This will help you understand your cash flow and identify areas where you need to allocate resources.
• Forecast revenue: Estimate your expected revenue based on your target market, niche, and fee structure. Consider factors such as the average number of placements per month, the average fee per placement, and your expected growth rate.
• Consider offering additional services such as resume writing or interview coaching to generate additional revenue streams.
• Keep track of your expenses and revenue on a regular basis to ensure you are staying on track and making necessary adjustments.
• Don't forget to account for taxes and other financial obligations when developing your financial plan.

Monitor and review: Regularly monitor your financial performance and review your financial plan to ensure you are on track to meet your goals. Adjust your strategies as needed based on market conditions and the performance of your recruitment firm.

By developing a comprehensive financial plan, you will have a clear roadmap for managing your finances and making informed decisions to drive the growth of your recruitment firm.

Establish Pricing And Fee Structure

When starting a recruitment firm, it is crucial to establish a pricing and fee structure that is competitive, fair, and aligns with the value you provide to clients. Here are some important factors to consider when establishing pricing and fee structure:

• Evaluate the market: Research the prevailing rates and fee structures in the recruitment industry for similar services. This will help you understand the market standards and ensure your pricing is competitive.
• Consider your expenses: Factor in the costs associated with running your firm, such as office space, employee salaries, technology, marketing, and other overhead expenses. These costs should be taken into account when determining your fee structure.
• Determine your value: Assess the value you provide to your clients, such as your expertise, industry knowledge, network, and ability to find top-quality candidates. This value should be reflected in your pricing structure.
• Define your services: Clearly outline the services you will provide to clients, such as candidate sourcing, screening, interviewing, and reference checks. Different services may warrant different fee structures.
• Consider offering different pricing packages to cater to the needs of different clients. This flexibility can attract a wider range of clients and provide them with options.
• Ensure your pricing strategy takes into account industry trends and economic conditions. Adjust your fees accordingly to remain competitive and profitable.
• Regularly review and update your pricing and fee structure to account for any changes in the market, business expenses, or the value you provide to clients.

By carefully establishing your pricing and fee structure, you can ensure that your recruitment firm remains competitive, profitable, and attractive to clients in the constantly evolving job market.

Create A Marketing And Sales Strategy

Once you have identified your target market and defined your unique selling proposition, it's time to develop a marketing and sales strategy that will help you attract clients and candidates.

1. Identify your marketing channels: Determine the most effective ways to reach your target audience. This could include online advertising, social media, email marketing, networking events, or industry-specific platforms.

• Focus on channels that are popular among both employers and job seekers.
• Consider partnering with industry associations or attending career fairs to increase your visibility.

2. Develop a strong brand: Your brand should reflect your company's values and differentiate you from competitors. Create a compelling brand story, logo, and website that resonate with your target market.

• Highlight your unique selling proposition in your brand messaging.
• Use testimonials and case studies to showcase your successful placements and satisfied clients.

3. Build relationships: Network with potential clients, candidates, and industry professionals. Attend relevant events, join online communities, and participate in conversations to establish yourself as a trusted expert in the recruitment field.

• Offer value by sharing industry insights, tips, and resources with your network.
• Stay in touch with previous clients and candidates to maintain relationships and receive referrals.

4. Utilize digital marketing: Leverage digital platforms to increase your online presence. Develop a content marketing strategy to provide valuable information to your audience through blog posts, articles, or videos.

• Optimize your website and landing pages for search engines to drive organic traffic.
• Use targeted keywords and hashtags on social media to expand your reach.

5. Measure and analyze: Regularly review your marketing and sales efforts to assess their effectiveness. Monitor website traffic, conversion rates, email open rates, and other relevant metrics to identify areas for improvement.

• Experiment with different marketing strategies and track their performance to find the most successful approaches.
• Consider using customer relationship management (CRM) software to streamline your sales process and track leads.

A well-defined marketing and sales strategy is crucial for the success of your recruitment firm. By leveraging the right channels, building a strong brand, and nurturing relationships, you can attract both clients and candidates and establish your firm as a trusted partner in the recruitment industry.

Outline Operational Processes And Procedures

Once you have identified your target market, conducted market research, defined your unique selling proposition, determined your business structure and licensing requirements, developed a comprehensive financial plan, established pricing and fee structure, and created a marketing and sales strategy, it's time to outline your operational processes and procedures. This step is crucial for the smooth functioning of your recruitment firm and ensuring efficient and effective delivery of services to both employers and candidates.

1. Recruitment Process: Define your recruitment process from start to finish. Outline the steps involved in sourcing candidates, screening resumes, conducting interviews, and presenting qualified candidates to employers. Clearly define roles and responsibilities for each stage of the process.

2. Candidate Database Management: Develop a system for managing your candidate database. This could include creating a centralized database, utilizing applicant tracking software, or implementing a cloud-based solution. The goal is to have a structured and easily accessible repository of candidate information that can be searched and screened efficiently.

3. Client Relationship Management: Outline how you will manage your relationships with clients. This could involve regular communication, setting expectations, providing updates on candidate progress, and addressing any concerns or feedback from employers. Developing strong client relationships is essential for building trust and securing repeat business.

4. Legal and Compliance: Familiarize yourself with the legal and compliance requirements specific to the recruitment industry. Ensure that you abide by anti-discrimination laws, maintain data protection and privacy standards, and adhere to any licensing or regulatory obligations.

5. Financial Management: Implement sound financial management practices. This includes setting up invoicing and payment processes, tracking revenue and expenses, and forecasting cash flow. Ensure that you have systems in place to manage payroll, taxes, and financial reporting.

• Regularly review and refine your operational processes to increase efficiency and stay abreast of industry best practices.
• Invest in technology and software solutions that can streamline your operations and enhance productivity.
• Train your team on the outlined processes and provide ongoing support and feedback to ensure consistency and quality in service delivery.

By outlining your operational processes and procedures, you can create a roadmap for your recruitment firm's day-to-day activities. This will enable you to streamline operations, enhance productivity, and deliver exceptional services to your clients and candidates.

Conduct A Competitive Analysis

Conducting a competitive analysis is a crucial step in developing a business plan for a recruitment firm. It allows you to understand the landscape of the industry, identify your competitors, and analyze their strengths and weaknesses. This information will help you position your firm strategically and differentiate yourself from the competition.

When conducting a competitive analysis, start by identifying your direct competitors – other recruitment firms that serve the same target market and offer similar services. Research their reputation, client base, and areas of specialization. This will give you valuable insights into their strategies and positioning.

Additionally, analyze the indirect competitors – platforms or tools that offer alternative solutions for employers and candidates. Assess their features, pricing, and user experience to understand their potential impact on your business.

A competitive analysis helps you:

• Identify gaps in the market that you can exploit and differentiate your services
• Learn from your competitors' successes and failures to refine your own strategies
• Understand client preferences and expectations to develop unique value propositions
• Benchmark your pricing, fee structures, and service offerings against the market

Tips for conducting a competitive analysis:

• Utilize online tools and databases to gather information about your competitors
• Consider conducting mystery shopping to experience your competitors' services firsthand
• Stay updated on industry trends and changes to adapt your strategies accordingly
• Regularly review and update your competitive analysis to stay ahead of your competitors

By conducting a thorough competitive analysis, you can position your recruitment firm strategically and develop unique value propositions that will resonate with your target market. Use the insights gained to fine-tune your business plan and set yourself up for success.

In conclusion, writing a business plan for a recruitment firm involves several critical steps that can help you establish a successful and profitable venture. By identifying your target market, conducting thorough market research, and defining your unique selling proposition, you can position your recruitment firm for success. It is also important to consider the contingency-based business model, which allows you to work with a diverse range of employers and candidates while minimizing risk. Developing a comprehensive financial plan, establishing pricing and fee structures, and creating a marketing and sales strategy will further contribute to your firm's growth and success. Lastly, outlining operational processes and procedures, conducting a competitive analysis, and ensuring compliance with business structure and licensing requirements will help your recruitment firm operate efficiently and effectively in the highly competitive industry.

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How to write a business plan for your recruitment agency.

Starting a recruitment agency is a great idea because it provides a valuable service to employers and job seekers alike.

It is a great way to bridge the gap between the two and facilitate successful career placements.

But, first thing first, you need a business plan.

A business plan is essential for any new project, as it allows you to clearly define your goals, objectives, and strategies for success. It also provides a roadmap for the future, helping to ensure that your project is successful in the long term.

In short, a good business plan will help make sure your recruitment agency is profitable .

What information should you put into the business plan of a recruitment agency? What's the basic outline for the structure? What financial metrics should be included? What steps should I follow to write a business plan efficiently?

Stay with us: we'll tackle all these questions!

One last thing, you don't have to start your business plan from scratch.

Feel free to download our detailed business plan for a recruitment agency and customize it for your business.

Mapping out a business plan for a recruitment agency

Do you need to develop a business plan for your recruitment agency.

Yes, you need to develop a business plan for your recruitment agency.

Crafting a well-structured business plan will help you to:

• get familiar with the recruitment agency market
• be aware of new consumertrends and apply them to your project
• recognize profitability factors for a recruitment agency
• understand the hiring needs, job requirements, and talent preferences of client companies
• come up with a winning value proposition for your staffing services agency
• identify potential competitive threats
• find distinctive competitive edges for your recruitment agency
• find a business model that delivers consistent positive financial outcomes
• formulate an airtight strategy to maximize business growth
• evaluate potential risks specific to a recruitment agency, including client satisfaction, candidate vetting, and legal compliance

Our team has created a business plan for a recruitment agency that is designed to make it easier for you to achieve all the elements listed.

How to organize a business plan for a recruitment agency?

Inside a business plan, you'll find a lot of important information and details. It must be presented in a structured format, to make easy to read and digest.

When we built and designed our business plan for a recruitment agency , we made sure to structure it propertly.

We've categorized it into 5 sections (Opportunity, Project, Market Research, Strategy and Finances).

1. Market Opportunity

The section number one is titled "Market Opportunity."

In this section, you will find valuable data and insights about the recruitment agency, helping you understand the market landscape and assist companies in finding and hiring top talent.

We constantly update all the data there.

2. Project Presentation

The second part is dedicated to the "Project" of your recruitment agency. Here, you can outline the industries you specialize in, recruitment services offered, candidate sourcing strategies, screening and selection processes, client partnerships, and the unique value proposition that connects top talent with the right job opportunities.

Also, provide a self-introduction at the end of this section.

Discuss your expertise in talent acquisition, your range of recruitment services, and how you plan to provide comprehensive and tailored staffing solutions to clients. Highlight your industry knowledge, your network of professionals, and your dedication to matching the right talent with the right opportunities through your recruitment agency.

We drafted some language for you in our business plan. Adjust it to suit your idea perfectly.

3. Market Research

Then, there is the "Market Research" section.

In this section, you will find a detailed market segmentation analysis for your recruitment agency.

It includes a presentation of other recruitment agencies in the area that will be competing with you. Your agency's expertise in talent acquisition and competitive advantages are also highlighted. A customized SWOT analysis is included.

4. Strategy

The "Strategy" section outlines a comprehensive 3-year action plan, detailing the initiatives and steps needed to transform your recruitment agency into a highly profitable endeavor.

Additionally, there's a marketing strategy, a risk management strategy, and a Business Model Canvas available in this section.

5. Finances

In the end, you'll find the "Finances" section, which provides a comprehensive overview of the financials for your project.

How to make an Executive Summary for a recruitment agency?

The Executive Summary serves as an introduction to the business plan for your recruitment agency.

Keep it concise and ensure it fits within 2 pages. Highlight only the necessary details.

When you present your business plan to investors, this is the section they will read first. It needs to grab their attention and make them want to explore the rest of the plan.

In the Executive Summary of your recruitment agency, address the following queries: what services does your recruitment agency offer? who is your target market? are there other recruitment agencies in the industry? what sets you apart from them? what funding do you require?

How to do the market analysis for a recruitment agency?

Analyzing the market for your recruitment agency allows you to gain insights into factors such as client demands for talent acquisition, competition within the recruitment industry, and emerging trends in HR and staffing.

By conducting a thorough market study, a recruitment agency can understand client hiring needs, offer effective recruitment solutions, optimize pricing strategies, and execute targeted marketing campaigns, ultimately leading to a larger client base, increased job placements, and a prominent position in the recruitment industry.

Here is what you can expect to find in the "Market Research" section of our business plan for a recruitment agency :

• market trends and data about recruitment agencies, including job market analysis, talent acquisition strategies, and industry-specific hiring trends
• a list of potential customer segments for a recruitment agency
• the competitive comparison
• the potential competitive advantages for a recruitment agency

The key points of the business plan for a recruitment agency

What's the business model of a recruitment agency, business model of a recruitment agency.

A recruitment agency's business model revolves around connecting employers with qualified candidates for job openings. Revenue is generated through fees or commissions based on successful placements.

The business model focuses on understanding clients' hiring needs, conducting candidate sourcing and screening, effective marketing to attract employers and job seekers, and building strong client and candidate relationships based on trust and expertise in recruitment.

Success depends on building a robust candidate database, delivering suitable talent for job openings, fostering positive client and candidate experiences and recommendations, and continuously adapting to changing recruitment methods and job market dynamics.

Business model ≠ Business plan

Make sure you differentiate between "business plan" and "business model."

A business model describes how a company generates income and operates successfully.

In a business plan, you articulate your business model through a framework known as the Business Model Canvas.

Rest assured, there is a Business Model Canvas (already completed) in our business plan for a recruitment agency .

How do you identify the market segments of a recruitment agency?

Market segmentation for your recording studio involves dividing your potential clients into different groups based on their recording needs, music genres, and preferences.

These categories may include factors such as music artists, voice-over artists, podcasters, or clients seeking specific recording services or equipment (e.g., vocal recording, sound mixing, podcast production).

By segmenting your market, you can offer specialized recording services and facilities that cater to each segment's specific requirements. For example, you might focus on music artists and provide state-of-the-art recording studios equipped with instruments and production tools for music production, offer professional voice-over recording services for clients in need of high-quality voice recordings for commercials, audiobooks, or animations, specialize in podcast production and provide podcasters with dedicated recording spaces and podcast editing services, or focus on specific recording services or equipment such as vocal recording, sound mixing, or audio mastering.

Market segmentation allows you to effectively target your marketing efforts, communicate the capabilities and technical expertise of your recording studio, and provide a creative and professional recording environment that meets the unique needs and preferences of each client segment.

In the business plan for a recruitment agency , you will find a comprehensive market segmentation that will help you better understand your potential customers.

How to conduct a competitor analysis for a recruitment agency?

Without surprise, you won't be the only recruitment agency in your market. There will be other agencies offering staffing and talent acquisition services to organizations.

Understanding your competitors' strengths and weaknesses is critical when developing your business plan.

Identify their weaknesses (such as limited industry connections, inadequate candidate screening, or poor client communication).

Why is it important to address these elements? Because these weaknesses can impact the effectiveness of recruitment agency services.

By focusing on these areas, you can offer a wide network of qualified candidates, provide efficient and thorough recruitment processes, and deliver personalized and attentive client support, positioning your recruitment agency as a trusted and preferred partner for businesses seeking top talent and successful staffing solutions.

It's what we call competitive advantages—develop them to make your business stand out.

Here are some examples of competitive advantages for a staffing agency: extensive network of qualified candidates, personalized recruitment solutions, timely placements.

How to draft a SWOT analysis for a staffing agency?

A SWOT analysis can help identify the strengths, weaknesses, opportunities, and threats of a recruitment agency, enabling informed decision-making and increased success.

As you can guess, there is indeed a completed and editable SWOT matrix in our business plan for a recruitment agency

The strengths for a recruitment agency

When we talk about the "S" in SWOT, we mean Strengths, which are the project's internal capabilities or unique strengths.

For a recruitment agency, possible strengths could include an experienced team, a strong network of contacts, an extensive database of candidates, and a comprehensive understanding of the recruitment market.

The weaknesses for a recruitment agency

W stands for Weaknesses, referring to the project's areas or aspects that have room for improvement.

For a recruitment agency, potential weaknesses include difficulty in finding suitable candidates, lack of access to a large pool of qualified applicants, high cost of advertising to attract talent, and potential clients not trusting the agency.

The opportunities for a recruitment agency

The letter "O" in SWOT signifies Opportunities, highlighting the favorable conditions or chances for the project's progress.

In the case of a recruitment agency, potential opportunities include providing executive search services, offering temporary staffing solutions, providing online job postings, and providing career coaching services.

The threats for a recruitment agency

When we use the "T" in SWOT, we're referring to Threats, which are the external risks or challenges that the project may encounter.

How to develop a marketing plan for a staffing agency?

A marketing strategy is a key factor in acquiring customers and increasing revenue, so include it in your business plan.

A well-crafted marketing strategy will attract companies and job seekers to your recruitment agency, emphasizing your expertise in matching the right talent with the right job.

Companies won't hire your recruitment agency without effective marketing; showcasing your talent pool and personalized approach is crucial.

Are you utilizing marketing tactics to attract clients to your recruitment agency? Consider building strong relationships with local businesses and job seekers, offering specialized recruitment services, and utilizing digital marketing strategies to showcase your expertise in the industry.

Don't let a lack of ideas for your project's marketing strategy discourage you.

How to build a solid financial plan for a staffing agency?

A solid business plan must include financial data to provide an accurate assessment of the business's potential success.

Obviously, you should estimate the projected revenue for your recruitment agency.

It's crucial for this revenue forecast to be clear and straightforward.

Our financial plan for a recruitment agency is easy to use and includes built-in checks to help you identify and correct any assumptions, ensuring you create reliable projections with confidence.

Without a doubt, you'll need to come up with a basic budget for starting your recruitment agency. Make sure to include every expense (by the way, they are all listed in the financial plan we've made).

The break-even analysis is central in the financial plan as it will tell you whether your recruitment agency will generate profits or not.

• Choosing a selection results in a full page refresh.
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Recruitment agency business plan template

Download this recruitment agency business plan template in PDF or Word format, or tailor it to your project directly in our business plan software.

Discover our recruitment agency business plan template

Our recruitment agency business plan template gives you the structure to write a professional plan.

Not accustomed to writing business plans? Our recruitment agency business template will turn a typically challenging process into a total breeze.

Modelled on a complete business plan of a recruitment agency in Normandy, our template features both the financial forecast and the written part that presents the project, its team, the local market and the business strategy implemented by the management.

Cast your eyes on this template to achieve a better understanding of what your bank and investors would like to see, so that you can create a business plan that meets their expectations.

7 day free trial. No credit card required. Recruitment agency business plan template available with paid plans only.

How to use this recruitment agency business plan template

Edit the recruitment agency business plan template online, or download it.

There are 3 ways to use this template:

• Edit it online: you can adapt this template to your business idea by changing the text or the financial forecast directly in our business planning software
• Download in PDF: if you're just after a little inspiration, you can download the recruitment agency business plan template in PDF to read over it
• Download in Word format: want to edit your plan on Word? Simply export the recruitment agency business plan template to Ms Word (.docx) format

Recruitment agency business plan template content

This template includes a complete recruitment agency business plan example, with a financial forecast and the following sections:

• Executive summary: the executive summary gives the reader a clear and concise overview of your business idea
• Company: this section lays out the structure of your business, including its location, management team and legal form
• Products and services: here, you'll give an overview of the services offered by your recruitment agency (express and classic recruitment services)
• Market analysis: the market analysis is where you’ll demonstrate that there is a strong demand for your recruitment agency through a thorough assessment of the industry (customer profile, hot trends, regulation, competition, etc.)
• Strategy: this section highlights your recruitment agency's game plan when it comes to pricing, marketing and mitigating risks along the way
• Operations: this step lays out your recruitment agency's operational organisation, including the recruitment plan
• Financial plan: the financial plan includes a table of sources & uses (initial funding plan), and complete financial statements (P&L, balance sheet and cash flow statement)
• Appendices: this part provides the opportunity to include multiple financial appendices generated by our software (debt maturity profile, monthly financial statements, financial analysis, etc.)

Executive summary for a recruitment agency business plan

The executive summary gives the reader a clear and concise overview of your business idea.

Our recruitment agency's executive summary is formed of the following subsections:

• Business overview: in this subsection, we outline who the recruitment agency founders are, what legal form they've chosen for the business, and the rationale behind the choice of their location
• Market overview: in this subsection, we summarize the conclusions of the market analysis performed by the recruitment agency's owners and explain what industries (hospitality) and business types (cafes, restaurants, hotels) they aim to target
• Financial highlights: in this subsection, we give an overview of the forecasted financial performance of the recruitment agency over the first 3 years of operation
• Our ask: in this subsection, we outline the amount of financing required to start the recruitment agency and how it's going to be funded (the founders are seeking a bank loan to start their recruitment agency)

Company overview included in our recruitment agency business plan sample

This section lays out the structure of your business, including its location, management team and legal form.

Our recruitment agency business plan template's company section is formed of the following subsections:

• Structure & Ownership: in this subsection, we outline who the recruitment agency's shareholders are and what legal form they've chosen for the business
• Location: in this subsection, we present the area surrounding the location chosen for the business and the layout and main features of the premises
• Management Team: in this subsection, we give an overview of the background of each of the recruitment agency's founders, explain how they met and why they decided to start a company together

Products and services offered by the recruitment agency

The products and services section is where you will present the different types of services offered by your recruitment agency.

In our recruitment agency business plan template products and services section, we cover:

• Express service: characterised by speed, this service aims to help hospitality businesses find skilled replacements last-minute (within 24 hours)
• Classic service: a stock-standard service that helps hospitality businesses find skilled workers on a permanent basis

Market analysis for the opening of the recruitment agency

The market analysis is where you’ll demonstrate that there is a strong demand for your products and services through a thorough assessment of the industry (customer profile, hot trends, regulation, competition, etc.)

Our recruitment agency business plan example's market analysis section is formed of the following subsections:

• Demographics and Segmentation: in this subsection, we explore the market in depth. We look at the supply and demand sides both at the national and local level, analyse the hot trends perceived by the founders, and the key statistics that will help the founders build their positioning
• Target market: in this subsection, our founders explain who they view as their ideal customers (our recruitment agency business plan template targets cafes, hotels and restaurants)
• Competition: in this subsection, we take a look at the direct (independent recruitment agencies nearby) and indirect (other ways of hiring staff) local competition to ensure we have a differentiated positioning and that the market is large enough to accommodate the arrival of a new recruitment agency
• Regulation: in this subsection, we give an overview of the main regulation applicable to our recruitment agency

Setting the strategy for our recruitment agency

This section highlights the company's game plan when it comes to pricing, marketing and mitigating risks along the way.

Our recruitment agency business plan template strategy section is formed of the following subsections:

• Pricing: in this subsection, we explain how we set the prices of our main categories of services (express and classic recruitment) and the rationale behind our choice
• Marketing plan: in this subsection, we explain what action we'll put in place to build awareness and loyalty among our recruitment agency customers
• Milestones: in this subsection, we give an overview of the main goals we set for ourselves for the next 3 years
• Risks and Mittigants: in this subsection, we perform an assessment of the medium and long-term risks that could jeopardize the financial viability of our recruitment agency and outline how we intend to mitigate them

Operations section of the recruitment agency business plan template

This part lays out the company's operational organisation, including the recruitment plan.

Our recruitment agency business plan operations section is formed of the following subsections:

• Personnel plan: in this subsection, we explain what our opening hours will be and explain the responsibilities of each of staff member in our recruitment agency
• Key assets and IP: in this subsection, we list the assets and intellectual property rights which are critical to our business operations and explain how we will secure and protect each of these
• Suppliers: in this subsection, we give an overview of the main suppliers we will use our what commercial terms have been negotiated with them

Financial plan included in our recruitment agency business plan template

This section presents the expected financial performance of the recruitment agency over the next 3 years.

Our recruitment agency business plan example's financial plan is formed of the following subsections:

• Start-up funding: in this subsection, we list the cost of each item required to launch the recruitment agency
• Important assumptions: in this subsection, we explain the methodology and the main assumptions used to build the recruitment agency's financial forecast
• Sales forecast: in this subsection, we detail the expected revenues and growth rate for our recruitment agency in the coming years
• Cost structure: in this subsection, we list all the expenses required for our recruitment agency to operate smoothly
• Projected Profit & Loss statement: in this subsection, we analyse our forecasted P&L and comment on the expected profitability of our recruitment agency over the next 3 years
• Projected cash flow statement: in this subsection, we analyse the expected cash generation of the recruitment agency
• Projected balance sheet: in this section we give an analysis of the liquidity and solvability implied from our balance sheet

Appendices of the recruitment agency business plan template

This part provides the opportunity to include multiple financial appendices generated by our software (debt maturity profile, monthly financial statements, financial analysis, etc.).

Our recruitment agency business plan template's appendices include:

• A maturity profile chart showing the principal repayments of their loans over the next 3 years
• A monthly cash flow forecast: showing how much cash is being generated or consumed each month over the first 3 years of operations

Recruitment agency business plan template sample

Executive summary, business overview.

Cavine Recruit will be a recruitment agency specialising in the hospitality sector.

Our primary aim is to help cafés, hotels and restaurants in and around Caen's city centre hire "last minute" temporary staff.

We will also help those hospitality businesses find qualified personnel who are willing to join them on a permanent contract. 

Cavine Recruit will be a limited liability company, managed by Catherine V. and Vincent A. with a share capital of €5,000.

Our offices, located at 34 Quai de la Londe in Caen, are walking distance from the Vaugueux (an area where most of the restaurants in Caen are located). This is ideal for increasing our visibility.

Both managers have known each other for over a decade. Together they have 20 years' experience in hotel and restaurant recruitment. They decided to start their own recruitment agency together to combine their skills and passion.

Market Overview

National Market

The recruitment agency market in France

According to the 2016 Prism'Emploi report, there are 7,257 recruitment and temporary employment agencies in France. The market was valued at €17.7 billion (turnover) that year.

46% of recruitment agency clients are SMEs and recruitment agencies generated €147.7 million of turnover in 2016.

Market leaders in the interim and recruitment agency market include Adecco, Randstad, Manpower and Hays Recruitment. Despite their dominance, many independent and niche firms remain competitive in the market.

When it comes to sectors where a specific profile is desired, companies tend to favour headhunters or independent recruitment agencies specialising in that industry to find the perfect candidate.

Mandates entrusted to independent recruitment agencies are mainly fixed-term and permanent contracts.

How recruitment firms find staff:

• Professional directories
• Approaching profiles on social networks such as LinkedIn
• Advertising on their website
• Advertising on third-party sites such as Reed or Indeed
• Other internet-based methods

According to the 2017 report by the Ministry of Labour, 34% of companies use recruitment intermediaries to recruit employees. This process has a success rate of 15%.

It's not only companies that use recruitment agencies. They have become an ideal springboard for those seeking employment. APEC estimates that 128,159 young executives and graduates used recruitment agencies to find jobs in 2018.

Local Market

The 2018 Calvados Tourism Observatory report estimates that both the City of Caen and its surroundings are prevalent in the hotel sector - accounting for 49% of all hotels and 34% of overnight stays in the county of Calvados.

It's also estimated that 41% of tourist revenue in Normandy in 2016 came from hotels, cafés and restaurants.

According to the FAFIH, there were 9,300 businesses, 12,500 seasonal workers during the summer and 2,900 in winter in Normandy in 2018. 90% of hospitality companies were also micro-enterprises.

The sector mainly consists of:

• Traditional catering (49%)
• Hotels (22%)
• Catering services (15%)
• Others (14%)

A tool set up by Carif Oref Normandie, which deals with training and employment, identifies staff shortages in terms of supply versus demand. Caen lags behind in this aspect in both the hotel and catering sectors.

53% of the recruitment projects recorded in 2018 were assessed as difficult, and 55% were destined to be seasonal jobs.

Financial Highlights

We expect to be profitable in our first year of activity with sales of €95,775 and an EBITDA of €6,056 (with a 6.32% margin) for year 1.

We expect to be able to continue to grow our business to reach €105,375 in sales and €13,572 in EBITDA (with a 12.88% margin) by year 3.

Cash generation should be positive over the duration of the plan.

The business should be sufficiently capitalised to enable us to meet our loan repayments while retaining sufficient headroom to deal with unforeseen circumstances.

We estimate that we need a total of €30,000 to open our recruitment agency.

Our partner will contribute €20,000 (67% of the total amount).

We would like to obtain a bank loan of €10,000 to complete the financing.

500,000+ entrepreneurs have already used The Business Plan Shop

Easy to get started with and well-guided throughout. Lots of business plan templates to help you and writing is easy because there are explanations at each step of the process.

Quite frankly excellent because I was able to finalize my business plan in less time than expected. This software offers a very coherent and complete approach to writing your project.

It is a very well designed software that allows you to visualise each step of your project, understand if the idea is viable or not and think about the steps needed to start your business.

The software is just impeccable. Of course, it meets the requirements of people starting a business. In addition to having a tool for putting together a proper financial forecast, there is also a tool to help write the business plan.

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Recruitment agency business plan template faq.

A recruitment agency business plan is a written document that sets out the commercial, operational and financial objectives of the company over the next 3 to 5 years.

It consists of two main parts:

• A written part that presents, in detail, your recruitment agency business, the team, your strategy, and your medium-term objectives.
• A financial forecast that highlights the expected profitability of the recruitment agency and the initial funding requirements.

The lack of business planning is one of the main reasons why more than 50% of startups fail within 5 years. If you're starting a recruitment agency, writing a business plan is a must-have in order to reduce the risk of failure of your project.

Business plans are also required by most lenders and investors in order to secure financing, therefore a business plan is also highly recommended if you're seeking a loan or equity investment for your recruitment agency.

Writing a recruitment agency business plan without The Business Plan Shop can be both error-prone and time-consuming - whether you're new to entrepreneurship or experienced:

• You'll need to research the structure of a business plan, what to include in each section, and what key elements investors and lenders expect to see
• You may encounter writer's block (especially if it's the first time you're writing a business plan for your recruitment agency)
• You'll need to create a financial forecast on a spreadsheet which requires a solid understanding of accounting and financial modelling in order to be done without error
• You'll need to spend hours formatting financial data on Excel or Sheets before it's ready to integrate into your business plan
• Any updates to your recruitment agency business plan or financial forecast will need to be done manually

Luckily for you, The Business Plan Shop's online platform and recruitment agency business plan template guide you through every stage of writing a business plan, so that you can spend more time managing and growing your business instead.

Our editor follows a best-in-class structure for professional business plans. Each section and subsection includes examples and instructions to help you, while our business plan templates provide further inspiration if you're stuck.

Our financial forecasting software helps you create a forecast and integrate it into your business plan with ease. Anytime you update your data, your business plan automatically updates.

And with our forecasting software all the calculations are done for you, without errors.

The budget to start and run a recruitment agency will depend on the exact concept and location.

An online recruitment agency that does not have physical offices would probably have much lower startup costs than one that isn't fully remote. This is because staffing costs, rent and other overheads would be minimal or non-existant. Hiring a specialist website designer would also increase startup costs considerably.

As an example, in our recruitment agency business plan template the total initial funding requirement amounted to €30,000 (c. $32,000 or £26,000), with the founders contributing €20,000 (c. $21,400 or £17,000).

In order to assess the exact budget for your recruitment agency idea, you need to do a financial forecast using a financial projection tool such as the one we offer .

The package we offer at The Business Plan Shop goes way beyond a simple blank template you need to fill. With our platform you get:

• Access to one of the best business plan software on the market
• Access to our recruitment agency business plan template which contains a complete example of a written business plan and financial forecast to start a recruitment agency
• Access to our entire business plan templates library - giving you dozens of examples to take inspiration from
• Access to our financial planning and analysis platform so that you can track the actual performance of your business against what you had planned in your business plan and re-plan easily

But you shouldn't take our word for it: try our solution for free and make your own opinion!

The free trial enables you to try the software for free during 7 days in order to verify that it meets your requirements before buying.

Some features are limited during the free trial, the main limits are:

• You can only create one business plan
• The financials of the first year are visible, but data for other years are hidden
• You can export your plan in PDF but not in Word or CSV
• No access to our business plan templates

You can create your account and start your free trial here .

Access to our template is included with all our paid subscriptions.

Please visit our pricing page to learn about this in more detail.

Other business plan templates and resources to discover

12 Steps to Follow to Start a Recruiting Business

What follows are some basic steps that will allow you to be a well-planned and profitable recruiter in the years ahead. Luck and timing can have an impact on the magnitude of your success but only your effort, aptitude, dedication, and commitment to working a plan will deliver the result.

There are many considerations that will be specific to you and your situation. Some considerations will be a result of timing, finances, market conditions or economic cycles. The thing totally within your control will be your focus and commitment. If your desire and commitment is low, stop reading this now!

Hey, you are still here…now we will examine some steps for you to consider and complete.

How to Start a Recruiting Business: Phase 1

Step 1: start my business now.

This can be as simple as YES, NO or NOT NOW/MAYBE LATER. Until you complete many of the steps below, the answer to this question may not be clear. You have options. Revisit this after completion of the steps below.

Step 2: Self-assessment

While you might have the desire to be the owner of your own business, you will need to assess your skills, personal motivation, and commitment openly and honestly. Are you a self-starter? Do you have the planning, sales and work habits required to deliver for 12 to 18 months before reaching a business breakeven? Can you handle massive levels of rejection and keep moving forward?

Ask your friends and loved ones if this is truly a fit for you. Make sure to connect with 3 to 5 entrepreneurs and listen to their coaching about what it takes to run your own business.

Make sure to assess yourself for both the desire/passion to start your own recruitment business, as well as the attributes and abilities that will allow you to succeed. See Are You Ready to Own a Recruitment Firm for more info.

Step 3: Define your Industry/Segment/Niche/Geographic Focus

Recruitment is a massive market with many opportunities. While it might seem reasonable to find and work any reasonable business that you can find, that is likely a recipe for wasting time and potential failure. It is better to define a very limited area of focus , perhaps arrived at based on your personal background, prior work experience, your network of connections and associates, or some area where you have exposure and expertise.

Try to pick industries that have potential for growth in the years ahead. If you are working a shrinking industry with many good providers, your success will be limited.

Are you looking to work executive/professional jobs and candidates? Are you focused on higher salary, more experienced based positions, entry level work or even blue collar and temp positions?

Can you drill down to a very specific group of workers or professionals and get to know everyone in the world that does that job? Taking it to this level will allow you to quickly become the “go to” recruiter of choice for a profession that is perhaps only served by more generalist firms. Not a bad place to be if you are able to be viewed at the expert.

Maybe you want to work California, New York City, or the London market exclusively. That is OK. You likely need 200 to 1000 positions in the defined area to make sure there is enough work to keep you fully occupied. There are business coaches that help you define a focus and measure if your market will allow for success. While some niches allow for very limited geographic focus (think: bank or insurance VPs and NYC might be just fine) while other segments and niches require greater geographic distribution (think: software app developers and you may need to consider the entire globe).

Step 4: Assess Competition

While it may be tempting to move onto future steps and come back to this step later, it may not be wise. To make some of the decisions and choices in later steps, you need to understand what your competition is doing, what they offer and how they position themselves, so that you can appropriately react and set your direction.

Spend the time to see who is in your desired space and understand how they succeed. If you can get financial information, that will help you when setting financial targets and time to reach breakeven. It will also help you assess the need for tools and staff. If the market leader in your space has a staff of 20, that means there is lots of room for you to capture a portion of the market. If there is just one other person working your defined space, it will be hand-to-hand combat with either both of you suffering or only one remaining within a short period of time.

Invest the time now, not after you are financially committed or 18 months into a poorly defined market, segment or niche.

Step 5: Determine Your Service Offering/Pricing Model

As we move ever closer to a financial plan, it is critical to define your basic service offering when determining how to start a recruiting business. Here is a very simple listing of services you might consider:

• Executive/Professional Search
• Staffing/Temp/Contract
• Outplacement
• Position Description Creation
• Position Advertisement Creation
• Hourly Recruitment
• List Building
• Wage/Salary Studies
• Pre-offer Personality Profiles
• Pre-offer Skills Assessments
• Post-hire Onboarding

These can be available to all contracted customers or you can offer this as a cafeteria menu of services allowing customers to pick the ones they value or require.

Pricing Models

Contingent search.

Contingency search is a pay-for-performance model. You only get paid when an employer makes a hire of your candidate. Contingent recruiters extend a helping hand at every stage of the process, from interview scheduling to candidate onboarding. The fee can be paid in many ways, but is typically based on a percentage of the salary, usually 20 percent to 30 percent in North America, depending on the difficulty and competition in the niche. Multiple roles can sometimes be priced at a lower percentage.

Retained Search

Employer clients pay an upfront fee to get a dedicated effort to fill their open positions exclusively with your organization. This model is often used to fill important or senior positions with some need for immediacy. These searches get your dedicated time and attention and jump in front of contingent search customers.

Contained Search

Contained search is a combination of retained and contingent search services. This typically ends up saving your employers both money and time. The employer pays a partial non-refundable fee to get a dedicated team working exclusively with a priority of the fill. The small amount of the total agreed fees upfront is an indicator of the employer’s commitment to your firm’s success. The remaining fee is paid after the successful hiring of a candidate.

Flat Fee Search

For an agreed fee, you work to fill an employer’s position opening. This most typically used for multiples of the same position. Perhaps you do one search and find multiple candidates and fill multiple roles with less difficulty, hence you offer the lower flat fee. I also see this used for some high salary, complex searches like physicians or lawyers. This model is sometimes used as the model for a first placement done with a skeptical new client.

Hourly Search

Often frowned upon by serious established recruitment business, this model might be appropriate for a client evolving out of a “do it themselves” model to a paid recruitment model. Rather than speculatively doing work via a contingent model, you get paid for the time invested on an hourly basis. It is tough to maintain a profitable recruitment business with any volume of your business being done via this model. It might offer the opportunity to solve unique client issues.

It is appropriate to consider each of these options based on the needs of your client, your experience and ability to fill the client’s role. It should be noted that solid contracts or pricing agreements should be in place before you begin working with a client. Failure to have a signed agreement in place can cause wasted time and perhaps even legal disputes.

Step 6: Financial Plan/Point to Break Even

When starting a new business, you need to be prepared financially to support the business for as many as 18 months before reaching a breakeven level of production. Reaching breakeven levels of performance can happen very quickly, but it is unwise to plan on that result, or to be financially required to reach that level, in less than 18 months. Capitalization to support 18 months of cost absent significant income also covers for short-term downturns in income that happen in many new businesses.

Prepare a List of Costs

A recruitment business can be started as a sole owner/operator model with relatively low levels of capital. Build a list of costs including all the basic requirements:

• LLC/incorporation and business license (approximately $1000)
• Forms/Agreements/Documents (approximately $500)
• Marketing materials/Business cards (approximately $1000)
• Website and content creation (approximately $2000)
• Space/Rental/Office (allow $500 per month minimum)
• Telecommunications/Zoom/Internet ($100 per month)
• Computer/Software/Backup/etc. ($1500)
• Banking/Bookkeeping/Accounting (?)
• Insurance / Errors and Omissions /General Liability (?)
• Memberships and Subscriptions (LinkedIn can run $500/mo.)

You need to be able to invest this capital monthly or annually until business reaches a level to produce a return. That target should be 18 months at a minimum.

Step 7: Revisit Step 1

Is it a YES? If so move on to Phase 2 activities.

How to Start a Recruiting Business: Phase 2

Step 8: going it alone, with support or with a team.

In most cases, new businesses are an independent venture with just the benefit of your talent. Sometimes unique opportunities are present that allow you to work with a teammate or a support team. Perhaps a former co-worker with a similar passion or maybe a spouse or partner with the time and a passion for your success. If you have this option, consider yourself fortunate!

Other options can allow you to add support and a team with low cost and low risk.

RPO Service Providers

There are many great providers domestically or offshore that can provide support at a low hourly cost. These services can build you lists of candidates and lists for client prospecting. Most services are hourly and are far more cost-effective than your investment of your own time to do the research.

Split Partners

Many small firms work cooperatively with one another to complete placements for clients. You get half the fee for half the work. Make sure there is a legally binding agreement in place that assures you get paid.

Split-fee Networks

There are some great organizations that support split-fee recruiting. (Note: NPAworldwide is one of those networks.) While not for everyone, a split network can be a good low-cost option for many newer firms. Some require a year in business or strong referrals before extending membership.

Step 9: Business Name/USP/Marketing Plan

Business name.

Think ahead on this one. If you ever want to sell your business, a recruitment business named after yourself will have less value than a business with a great fit to the industry it serves.

If you are unsure of your niche, be careful of doubling down on a name that is not able to cover multiple markets or cross over to a new niche.

Make sure you have claim to the name before investing in marketing materials, branding, and a website. Do your homework!

What is the “Unique Selling Proposition” for your recruitment business? Are you the fastest, most experienced, most laser focused on the niche, offer an outstanding value, the best guarantee, or something other?

Marketing Plan

Work on a website and social media strategy that helps attract new business into your sales funnel. Inbound marketing will outperform difficult and time-consuming cold calling efforts over the long haul. Not to say cold calling is unnecessary, just that the better your marketing plan and execution, the easier your outbound effort and the greater the success. Invest in doing this well and automating what you do. Here is another post about marketing needs for a new recruitment firm .

Step 10: Get Trained, Practice, Develop Skills, find a Coach

There are many low cost or affordable training options for recruiters. You need training from industry experts. They will offer ideas and methods that could take you years to discover or create on your own. You need constant training and a bit of motivation; these provide both.

Find someone you can use to practice your phone calls and pitches with. You need to hone these skills as you will often only have one chance to convert a new customer or win the confidence of a candidate.

Consider a business coach. These services will hold you accountable and offer problem solving help to get you productive and unstuck quickly. There are services specific to the industry and there are membership organizations that offer access to a peer network included in the membership cost.

Step 11: Research Laws and Regulations

There are laws that are important to know. For example, there are things you can ask a candidate and what is legal in one country, one state or one city is illegal in another. Beware. There are business-ending questions you can ask. The costs and time of defending a legal challenge can kill even the best researched, planned and marketed business.

As an example, in NYC, it is illegal to tell a candidate that they will be required to pass a criminal background check before an offer has been extended. If your position description provided to the candidate says that, you can be held liable.

As they say, it is all fun and games until you are handed the subpoena. Do your work to fully understand and abide by all laws and regulations in the geographies and industry you will focus. See: Legal Requirements for Recruitment Firms .

Step 12: Set Business Goals/Monitor Performance

Establish daily, weekly, monthly, quarterly, and annual goals that align with the financial plan established for your new recruiting business.

• Create practices, habits and reporting methods that will allow you to monitor the success of each objective.
• Post and share results with your accountability coach or peer.
• Determine action plans for recovery when objectives and results are out of sync.
• Remember to celebrate successes! Use goals to measure success until financial rewards catch up with expended effort. You will need to find ways to see positives that are being achieved before the profits flow to your bottom line.

How to Start a Recruiting Business: Phase 3

Reinvest in the business.

As you become profitable, make sure you are reinvesting in building a better, more automated business with up-to-date tools and desired services.

There is so much to be done when you start to think about how to start a recruiting business. If done well, you will find the road to success and profitability is smoother and faster.

2 Replies to “12 Steps to Follow to Start a Recruiting Business”

Good advice, it’s tough on your own

Better to be part of a group of like-minded professionals. That is one of the benefits of NPAworldwide for independents. Thanks for noting.

Comments are closed.

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How to build a recruitment plan, step-by-step

• Recruitment Strategy

Job reqs are boom or bust, so you’re either scrambling to cover everything or worried about proving your team’s value. Every hiring manager has different expectations on compensation and time to hire, and when they change their mind, you always feel like the last to know.

To break the cycle, what you need is a robust recruitment planning process. A full recruitment plan should include an agreed-upon workforce plan, hiring approach, and marketing strategy. If you don’t have time for the full process, you can also do a quick-and-lite version if needed, though we recommend going through all the steps eventually.

A proactive recruitment plan is the first step to becoming a true strategic partner in the organization. You can get ahead of hiring manager requests, set clear expectations, and demonstrate how critical talent is for achieving the broader goals of the business.

We’ve asked our own recruitment team, as well as experienced recruiters from a range of industries, how they do recruitment planning. Here’s their step-by-step guide, along with the real templates they use every day as part of their recruitment strategy. 

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Step 1: assess the situation, collect the headcount plan.

Ask each team to share the roles they plan to open this year, and how each role supports their team’s annual goals. For example, this can help you understand which roles must be hired by a certain date, and which roles are more flexible.

You need to understand what the company is trying to accomplish, how that rolls down to [each] department, and then how they see all these hires contributing to that. Mike Bradshaw, PHR Head of Talent Acquisition, Pinpoint

Review internal and external materials

Start by auditing your core metrics. Check internal reports and your ATS’s reporting for core hiring metrics, including:

• Time to hire
• Time to fill
• Average time in each interview stage

Candidate attraction

• Hires by source
• Candidates by source
• Offer acceptance rates
• Cost per hire
• Actual vs. budget
• Net Promoter Score
• Performance after hire
• Retention rates
• Candidates by demographic groups (race, gender, age, disability, veteran status, etc.)
• Hires by demographic groups
• Conversion rates on specific jobs by demographic groups

Then move on to qualitative materials, such as:

• Feedback from candidates (surveys, Glassdoor reviews, coffees with new hires)
• Feedback from hiring managers and leaders (surveys, performance reviews)
• Internal notes on what has and hasn’t worked before

And take a look at your current candidate experience, including:

• Careers site
• Job descriptions
• Communications sent to candidates

Ask for feedback

Have an open-ended conversation with your stakeholders about how they think hiring is going. Consider requesting feedback from:

• Recent hires
• Hiring managers
• Department leaders
• HR and recruiters 

Where do they see untapped potential? Where do they want to see improvements? What attracted them to the company and what was their candidate experience like?

Identify opportunities

As you review all this information, look for signs of issues and potential opportunities. It’s also helpful to write down your baseline in each area so you can track improvements over time. 

Typically, the opportunities you find will fall across three areas: Talent sourcing, employer brand, or new hire onboarding.

Finding talent: Are there untapped opportunities?

• Channels that work and don’t work, untested networks or tactics
• Channels that are delivering volume but aren’t delivering quality
• Channels that have delivered quality, but aren’t getting the attention they deserve

Branding: Are you selling your company?

• Is your employee value proposition (EVP) strong? How can it be improved?
• Is your messaging and branding cohesive across your careers site , branded emails , and job postings? 
• Is your EVP included in each job post?
• What are candidates saying about you in candidate surveys and review sites like Glassdoor?

Onboarding: What happens after a candidate accepts your offer?

• Are systems in place to give HR what they need to set up new hires for success?
• Is your onboarding process streamlined? 
• What’s the feedback from new hires and hiring managers about the onboarding process?

Step 2: Develop the headcount plan

Now that you have context, data, and feedback on previous hires, you can start planning for the future. The more an organization invests time into these exercises, the easier and more likely it will be to meet recruiting goals on time and within budget. 

Understand team goals and priorities at a high level

Organizational goals are driven by your employees. Meet with senior leadership and department heads to discuss company goals for the year. Is this a year of growth, or efficiency? Are there certain departments or regions we want to develop? Answering these questions will help your team to be aligned with leadership on the hiring mission and messaging. 

Design dream staff plans—then prioritize

Give department heads the opportunity to design their ideal team to reach that year’s goals, budget notwithstanding. This will grant you greater visibility into their vision for the department, and what skills they want on the team. 

Then, help department heads refine each job description and prioritize each role, based on actual needs and realistic expectations. Some roles may be less vital this year, or could be solved without a full-time hire. In these conversations, you can help shape the plan for each department, manage expectations around hiring, and avoid frustration later on. 

Get on the same page about levels

Internal alignment on levels ensures your hiring plan is both competitive and equitable. In a competitive labor market where remote work opens up more opportunities for employees, it is even more important to offer the right rate to hire the right person at the right level. 

At the same time, you want to avoid overpaying or overpromising. Not only will this impact your budget, but it could contribute to internal equity issues, which disproportionately affect women and people of color . 

Outline what is required at each level and define salary bands to mitigate the risk of some employees being unfairly valued. If it becomes harder to hire people at the right level because of pay, then it may be time to reassess trends in the market and adjust compensation levels accordingly.

Tip: Salary transparency attracts quality candidates. On Pinpoint, companies that include salaries in their job descriptions move 15% more applicants to the interview stage

Depending on the size of your organization, there are two ways to approach leveling: 

• Uniform leveling: Everyone across the company follows the same track (associate, manager, director, etc.)
• Functional leveling: Each department has a specialized and unique track. For example, the marketing team may have associates, managers, directors, etc., while the engineering team has engineer Is, engineer IIs, staff engineers, senior staff engineers, etc. 

Determine what makes sense for your organization based on your size and complexity. If developing levels from scratch, the process may take upwards of 9 months, but it will give your whole organization greater clarity.

Plan for backfills and promotions

In addition to new hires, you’ll also need to plan for people who are leaving their roles to minimize the impact of losing skills or capacity on the team. To anticipate backfills, consider past year attrition and industry benchmarks along with current economic factors (growth in the sector, recession, etc.). 

Then, look at your current team to understand who is at risk of leaving their role due to performance, attrition, or promotion. Meet with managers to understand who is on track to be promoted and when so you can plan for their backfill. Be conservative with your budget and resourcing plans so you aren’t surprised when the needs arise. 

Set realistic and fair budgets

With defined level expectations and a conservative hiring plan, it will be easier to set budgets for new hire compensation. To stay on top of industry trends and remain competitive, we recommend these resources:

• Comprehensive.io

Include a budget for the resourcing you will need to reach hiring goals. It can be difficult to anticipate how challenging it will be to hire certain roles, and your talent team may be impacted by attrition as well. It’s possible you will need to increase the capacity of your talent team with new hires or external support from contract recruiters, recruitment agencies, or recruitment process outsourcing provider (RPO).

Any budget proposal will inevitably result in pushback. By working through these steps, your plan should already be aligned with company priorities, but you can make your case even stronger by:

• Demonstrating past recruitment cost per hire and recruiting budgets as a reference, and reiterating how the organization wants to improve this year
• Leveraging leaders who are most invested in making good, fast hires to advocate for the budget
• Using research (benchmarks and models) to illustrate estimated return on investment of those hires for the company 

An iterative approach

A workforce plan will set you up for success, but won’t be set in stone. Shifting priorities, feedback from hiring managers and candidates, and macroeconomic factors will alter your plan over time. Regularly report on data, solicit feedback from stakeholders, and realign on goals to stay on top of these changes. How often you should check in on this plan will depend on your team size and existing processes, but here is an ideal cadence: 

• Weekly: Meet with hiring managers while you have active roles open
• Monthly: Meet with department heads if you are hiring for their teams
• Quarterly: Meet with all department heads to review goals, along with potential backfills and promotions

Step 3: Set realistic timelines

Manage expectations for your team and increase the likelihood of hiring people on schedule by setting estimated timelines. Outline the process for hiring managers and any other stakeholders to ensure they know what is required of them, like submitting requisitions in a timely fashion and allocating time in their schedules for interviews. When recruiters and hiring managers know what actions they need to take and when, your team will be able to respond quickly when strong applications come in. 

To set timelines, refer to historical hiring data along with industry benchmarks . Keep in mind that other economic factors may impact timelines. For example, post COVID-19 and the Great Resignation, more people have reevaluated their priorities and found that they could find better options that fit their values , meaning employers have had to act fast to land top talent. 

For hiring managers, the wait always feels long. Be upfront and provide a detailed timeline so they can see what is involved in the hiring process and feel assured that work is being done.

Example timeline from the Pinpoint Recruiting Team:

• Day 1: Job is posted
• Gather initial results from job posts and adjust accordingly (title, salary, location, etc.)
• Fine tune alignment on required skills and background with real world profiles
• Ramp up sourcing and screening
• Initial screening conversations with 5-10 candidates per week
• Hiring manager interviews with 3-5 qualified candidates per week
• Continue to fine tune alignment on job post and target profile
• Continue to source as needed to meet benchmarks for qualified candidates
• At Pinpoint, most roles can be filled in 60 days or less (time to accepted offer). Executive (Director and above), technical, or highly specialized roles could take up to 90 days to get to an accepted offer.

At Pinpoint, we dedicate a section of our internal communication tool to share documentation on the recruitment strategy and approach so the whole team has visibility. We also share reports from our ATS to keep hiring managers and senior leaders up-to-date on the status of open roles. 

If you still receive pushback, explain the value of having recruiters conduct a thorough, high-quality screen. With more time to vet applications, recruiters can protect hiring managers’ time and only forward the best candidates. If hiring managers become the bottlenecks, here are tips for staying on pace without adding more work to their plates:

• Ask hiring managers to share a sample of CVs or LinkedIn profiles that reflect the ideal candidate and align on what “great” looks like 
• Reserve interview blocks on interviewer calendars in advance 
• Bring in additional interviewers for various parts of the recruitment process
• Utilize automatic scheduling in your ATS to allow for one-click booking
• Align on the priority of roles to expedite those that are most immediately needed

Step 4: Launch the search

Search kickoffs are about identifying what kind of candidate you would like to hire, how you’ll get their attention, and how you’ll keep the search on track. 

Start by getting detailed information about what the hiring manager actually wants and needs via a Requisition form. It’s most helpful if they share this in advance so you can review it before the first conversation with them. You can then verify and expand upon this information when you meet.

While it can be tempting to publish open roles as quickly as possible, it’s worth investing time to customize job postings so they communicate your Employee Value Proposition and attract the right talent . This will allow you to bring in qualified, interested candidates more quickly. 

This also applies to marketing the role—collaborate with the hiring manager to think beyond your typical go-to job boards and identify if there’s anything new or different you can try for this particular search. 

Schedule an initial kickoff meeting with the hiring manager to establish your processes for working together. Identify a day and time to meet each week to check in on the search. Confirm the interview process early on so that everyone knows what to expect and this information can be shared with candidates, ideally in the job posting. 

Step 5: Coordinate the recruitment process

Once the search has started, recruiters will be overseeing a lot, including hiring managers. For them, hiring is essential, but it amounts to just a small percentage of their day. An ATS should make it easier for recruiters to keep the process moving without adding excessive work for hiring managers. Here’s advice from some of our customers on how they’ve been able to increase efficiency up to 70%, in part by collaborating better with hiring managers:

Hiring manager portals

The New York Public Library has about 400 managers who are involved with hiring, in addition to their many other responsibilities. The NYPL team set up a streamlined hiring manager view that made it easy for their team to comment, tag, rate, and share feedback on candidates all within Pinpoint. 

Hiring managers now have greater visibility and a more active role in the process, resulting in greater outcomes for everyone.

It’s really allowed us to coach our hiring managers to be better at creating a great experience for candidates. Craig Senecal Senior Director of Employee Experience, NYPL

Interview scheduling

Franklin Electric hires across a complex and international organization. Balancing people’s schedules and time zones can be a huge challenge. For them, the best solution was to find an ATS with automated interview scheduling . Hiring managers are thrilled to have the access and functionality to fill roles faster, without having to wait on HR.

It’s been a game-changer in terms of the impact and how easy it is. Amanda Hecht Corporate HR Manager, Franklin Electric

Icario is always looking for more data behind their hiring decisions, especially to keep track of their diversity and inclusion goals. After implementing Pinpoint, they began using candidate scorecards to standardize the feedback process and make more informed decisions. If your ATS doesn’t have built-in scorecard functionality, you can use this manual score sheet template .

It’s been really cool to see the type of metrics that we get, or that we can even get metrics in the first place! Rachel Todd Senior Talent Acquisition Specialist, Icario

Step 6: Report on progress

To track team goals, you’ll want to get a quick snapshot every week (or more likely everyday) of whether your search is on or off track. Your ATS should be your go-to source for data, with reports and dashboards that allow you to calculate key metrics. 

In some systems, you may need to create or download a report to get this information. If all else fails, you can also manually track this data outside your ATS (e.g. Google Sheets). 

Top 5 metrics to track during a search:

• # Days Open
• Average Number of Daily Applications
• # Candidates in Each Stage
• # Candidates Who Reached Each Stage (aka Historical Activity)
• Conversion Rates (aka Ratios)

These daily or weekly numbers are most useful when compared against benchmarks. You can establish benchmarks based on your own organization’s historical data or public information about the performance of organizations similar to yours. These benchmarks will vary based on industry, company brand recognition, company size, location, level of specialization, management level, and recruiter experience. 

Example: Benchmarks for Days Open

• By 21 days open, should be hitting goals for weekly candidates sourced, screened, and interviewed
• By 45 days open (for non-technical roles), should have 2-4 strong candidates in final stages
• By 60 days open (for technical roles), should have 2-4 strong candidates in final stages

Example: Benchmarks for Candidates in Each Stage

• 25-50 candidates receiving messages from sourcing outreach per week
• 5-10 candidates interviewing with the recruiter per week
• 3-5 candidates interviewing with the hiring manager per week

If you find yourself struggling to meet benchmarks as the search goes along, continue to revisit and ask questions about your sourcing and marketing plans. 

• Do you need to try new channels or new strategies to reach more candidates with the target profile?
• Has the target profile evolved?
• Are there enough people who fit your target profile to realistically fill the job in a reasonable amount of time? (E.g. if you’re looking for someone with niche technical skills within close proximity to a physical office, there may simply not be enough people in that target profile to find someone without providing relocation.)
• Should you try different messaging in outreach to candidates or in the job posting?
• Are you and the hiring manager both clear and aligned on what good and great candidates look like? 

Step 7: Improve year-over-year

The only constant in recruiting is change. Once you’ve devised your plan, be prepared to return to it repeatedly, iterating and improving on your recruitment strategy as you learn. 

With a hiring tracker and reports showing key metrics, your team will be more aware of what is working and can pivot quickly if needed. When you embed reporting into recruitment, your team will be able to see the forest through the trees and have more control over the process. 

And it’s never too late to start. Even if you are beginning this process mid-year, by the time you are planning for the next fiscal year, you will have more documented information to drive decision-making. 

By working directly with senior leadership, department heads, and hiring managers, you will also have greater visibility of the organization and more advocates on your side. With each subsequent year, you will be able to improve efficiency, collaboration, and the candidate experience. 

A final word of advice

As you’re going through the process, “ask a ton of questions and be selfish with your time,” says our own Head of Talent, Mike Bradshaw. When he took over the role—as the company’s first dedicated talent leader—he used a recruitment plan similar to the one outlined here to understand and prepare for upcoming hiring needs. 

Every one of us that's involved in recruitment—from leadership all the way down to individualized hiring managers—has improved the way that we think about talent as a result. Tom Hacquoil CEO Pinpoint

To get that kind of trust from the leadership team, don’t worry about asking a silly question; just focus on making sure you get all the information you need.

“Some people are sort of timid about asking questions, or asking them again, or asking for more time,” says Mike. It’s natural to want to look confident and autonomous, especially if you’re taking over a new role. 

“But then you end up making a lot of assumptions, and you might start running with something and find it doesn’t work out, and then you have to take a step back,” warns Mike. “Ask all the tough questions. Really try to understand what’s going on, good or bad.”

Further reading

Inbound recruiting vs. outbound recruiting, programmatic recruitment advertising: a recruiter’s guide.

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Hot on the block

Live webinar, master al-driven recruitment with recruit crm, table of contents, 10 business development strategies for agency recruiters to land the finest clients.

As a recruitment entrepreneur , you have to constantly be on the lookout for newer ways to find both candidates and clients.

Growing any form of business is always a challenge, and the best way to focus on growth is to have a clear plan and balance.

Unfortunately, keeping a recruitment business steady, no matter what the economic conditions are, can be daunting, and pinpointing any single recruitment business development strategy is not doable.

To maximise profits for any agency recruiter, we’ve put together the best business development strategies in this article, so keep reading to find out more.

10 Business Development Strategies for Agency Recruiters

We often get asked how to do recruitment business development, and our answer remains quite the same…network extensively, be persistent, and ask essential questions.

Take a look at these innovative strategies that’ll help you land clients in no time.

1. Take a Look Into Your Existing Client Database

Employee turnover rates are without doubt expensive, and as per the American Staffing Association (ASA), the median annual turnover for recruiters and account managers is 25%.

This roughly means 1 out of every 4 employees leave their recruitment agency every year. With the turnover rate being so high, even the best clients can drop out any time, and you should be on your toes to replace them. Look into your existing database and identify the following:

• Who gives you the best Return On Investment (ROI)? What’s their business size?
• Is there any niche or business type that causes stress to your monthly or yearly revenue?
• Which type of businesses do you generally do well with? Is it hospitality, fashion, clinical etc.?

Once you have a clear idea, onboard only those kinds of clients, who are bound to bring you more revenue and less distress.

2. Keep a Stock of Your Candidate Pipeline

Your candidate pipeline should always be full. Unfortunately, recruiters often overlook their candidate pipeline while working with clients that are generating massive cash flow. Furthermore, in such scenarios, having a comprehensive cash flow statement in place is imperative. This statement will meticulously reconcile the numbers in your bank account with your actual income and expenses.​​​​​​​ You need to remember that without a proper candidate pipeline, you’ll have no revenue.

Set up a plan and ensure you have prospective candidates at each stage of your sales process . It’s best to have both an active and passive candidate pipeline as you never know what might come in handy for your client.

Read more: 10 candidate sourcing strategies that recruiters can use this season .

3. Networking on LinkedIn & Clubhouse is Key

LinkedIn and Clubhouse are some of the biggest networking platforms this 2021, and it goes without saying that they’ll still remain to have their influence on entrepreneurs and businesses.

So don’t be afraid to network with potential clients on these platforms.

Read more: 7 tips for hiring the best candidates from LinkedIn

Pick up the call and ask them questions about their sector, have a chat with them, focus on telling them how your staffing firm can help them double up on talent and bring extensive growth.

You must act as a salesperson, but again, don’t get into it right away. Here are some key points to keep in mind:

• Make the conversation more about what THEY do and less about what YOU do
• Be a good listener
• Spend as much time on the phone as it takes to understand their key requirements
• Don’t try and sell right away

Read more: How can recruiters use Clubhouse for business growth?

4. Research Like You’ve Never Researched Before

If you’re an agency recruiter, your research ability needs to be top-notch. Spend a significant amount of time finding out who you are about to call and note down what you’re about to say. Unless you’re friendly and genuine, there’s a huge possibility of losing clients.

Here’s a lovely staffing business development example—

Suppose you’re calling person X, who runs a company ABC. It would be more than bland if you just ask if they require more talent. So instead, a successful agency recruiter would point out how ABC has similarities with your company’s values and goals, past and recent hires, latest products and services, etc. But, of course, with research comes a massive responsibility of absolutely owning what you’re saying to your prospective clients.

5. Share Case Studies

Before a client trusts you and decides to outsource their hiring needs , there’s a possibility that they’ll be asking for testimonials or case studies or might even look it up on their own. Show off your success with real examples of how you’ve been helping Client X grow their company and achieve their business goals in less than 3 months or even reduce the employee turnover rate for Client Z by 40% and more. Sharing such case studies will also help improve your employer’s brand to a great extent.

Read more: Recruit CRM helped South Africa-based RPO firm slay their recruiting game .

6. Train New Recruiters

If you’re a rookie, picking up that phone to make your first call can be more than daunting. Unless you’ve got the feel of your new role, you can’t simply jump in and manage to slay the game. You’ve got to understand more about the recruiting market, the clients you’ve been presently working with, and the type of clients you’re targeting for the future.

It takes a lot of patience and practice to be a good recruiter. As the entire landscape keeps changing with time, it’s important to be continually trained by the senior members of your agency to ensure you provide the best results.

Read more: 6 recruiting lessons from the world’s successful recruiting leaders .

7. Your Sales Process Should Be Automated & Optimised Wherever Possible

Your sales team needs to make sure that the sales pitches they’re creating for their clients and candidates are resonating with them. Sign up for a good recruitment CRM to help your agency optimize its sales process.

For instance, the stage feature in the Recruit CRM system lets you customize your sales pipeline. You can set up your own stages and add multiple stages from the sales pipeline. However, only admins in the account will have permission to customize such fields.

Whether you’re looking for new candidates or clients, prepare meaningful presentations and have them ready to go. An excellent recruitment business development strategy would be to not work with too many clients or candidates at once. Be very clear about the services you’re providing.

8. Take Help Of Technology

To stay ahead of the competition, use the latest recruitment technology . Just like automating a significant part of the sales process is necessary, recruitment automation can also help save time and resources.

Usage of a cutting-edge Applicant Tracking System , CRM software, interview scheduling software and more can help you analyse results and take communication to the next level.

Book a demo with Recruit CRM today and understand how it can completely transform your recruitment agency.

9. Analyse Your Results

Start by tracking your cold calls, business meetings, warm calls and client onboardings. The more you analyse what you’re doing presently, the better you can be in the future. Always remember that data speaks for itself. Thus, focus on doing lots and lots of analysis and research. Learn from experienced recruiters around you and get yourself signed up for a software that lets you measure every bit of your business with high-level reports.

Recruit CRM offers 5 kinds of reports that lets your team get a better insight into your performance and how your business is operating. The 5 reports are as follows–

• Team KPI report: Measure how your teams are performing. Choose your own KPIs for instance— candidates added, emails sent, jobs added, candidates in different stages of the hiring cycle, payments received and so on. For Team KPIs we generate a quick chart with all your data in it that you can easily export via a CSV file.
• Job statistics report: This is very similar to that of the client performance report mentioned below but the only difference is here you can specialise that for specific jobs. For instance— if you’re hiring for the role of a store manager for IKEA, you can take the role of “store manager in IKEA Atlanta” and run a report on just that.
• Candidate lifecycle report: Check which candidate is in which stage of your hiring pipeline.
• Client performance report: Measure how many candidates you’ve sent to your clients, how many have been interviewed or selected, the amount of money they’ve given you, the number of invoices you’ve raised and more.
• Deals status report: Check whether your deals are open, in progress, or lost via this report. Select a date range and our system generates a report of the status of your deals.

10. Be a Pro in Building Relationships

One of the best ideas on business development for recruitment firms would be building relationships and managing your employer brand.

Apart from sharing with your clients how you’ve transformed companies by supplying quality candidates, tell them how your staffing firm will benefit them in the future. Earn their trust, follow up with them via a combination of calls and emails to give them a clear picture of how you’re working and what you can do to help them in terms of recruitment, develop an ongoing marketing plan that will help your agency stand out from the rest.

Further resources: 8 business development strategies for new recruitment firms

Let us know in the comments below what are some of the business development strategies you’re sticking to nowadays?

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Art2Hire is a full-service recruiting boutique company based in Redwood City, Calif., with offices in Kyiv, Ukraine; Benisa, Spain; and Bat Yam, Israel. The company, founded in 2003, has a team of more than 20 that provides, among others, HR services, business consulting, and IT strategy consulting services to midmarket and other companies in the IT industry.  

ESCA is a IT staff augmentation company. The small Kyiv, Ukraine-based company was launched in 2020. Their services include IT staff augmentation and HR services.

UPPeople is a recruitment agency headquartered in Kyiv, Ukraine. Founded in 2014, they continue to offer HR services to primarily small business clients in the IT industry. They have about 32 employees.

• MyHerritage

Skillers is an IT recruitment agency founded in 2005. They have a team of around 25 employees and are based in Kyiv, Ukraine. Their services include IT staff augmentation, HR services, and corporate training. 

Capital Recruiters

Capital Recruiters is a recruitment agency with four offices in Ukraine, including Kyiv, Kharkiv, Odesa, and Lviv. Founded in 2007, they comprise 30 employees specializing in middle and management staff search, assessment, and recruitment. They work primarily for small, mid-size and global companies in IT, providing detail-oriented recruiting and executive search.

Web Recruiters

Web Recruiters is an IT recruitment and dedicated team agency founded in 2013 and based out of Kyiv, Ukraine. With a team of about 10 employees, they focus on IT staff augmentation, HR services, and occasionally web design and development work. Their main clients include small companies in the education, financial, and business services industries.

MoveUp recruitment agency

• Location "> Shchaslyve, Ukraine

MoveUp is a recruitment agency founded in 2019 in Kyiv, Ukraine. Their team of fewer than 10 provides HR services and IT staff augmentation solutions for clients ranging from small businesses to large corporations. They work primarily with clients in the field of IT services.

ScaleJet | eCommerce HR Agency

Talent first.

Founded in 2020, Talent First is a IT staff augmentation company. They are based in London, United Kingdom; Sofia, Bulgaria and Kyiv, Ukraine and have a small team. The company focuses on IT staff augmentation, cybersecurity, HR services, and customer service outsourcing.

Brainy Agency

IT staff augmentation company Brainy Agency is headquartered in Tallinn, Estonia. The small team focuses on IT staff augmentation and HR services. The agency was founded in 2018.

Digital Hiring 🚀 IT & Digital Recruitment | Poland, Europe, Ukraine, US 🚀

Digital Hiring is an executive search and recruiting company. In Kyiv, Ukraine; Warszawa, Poland and Las Palmas de Gran Canaria, Spain, their small team specializes in executive search and recruiting. The agency was established in 2017.

MindHunt is an IT recruiting agency based in Kyiv, Ukraine. The agency, founded in 2011, has a team of more than 30 that provides HR services to mid-market and other-sized companies in the IT, financial services, and e-commerce industries.

VP Team, a corporate training company, is in Kyiv, Ukraine. The small agency was established in 2010. Their team specializes in corporate training, unified communications consulting & SI, IT staff augmentation, custom software development, and more.

Resorcer is a HR agency in Kyiv, Ukraine. The small agency was launched in 2019. Their services include HR services, IT staff augmentation, and market research.

nearshorefriends GmbH

• Min. Project Size "> $10,000+

Evolvice Team is a staff augmentation company based in Ukraine with an office in Germany. Founded in 2016, the team of 51 specializes in IT staff augmentation, custom software development, loT development, and more.

920 Solutions

Job Offer, a human resources company, is based in Kyiv, Ukraine. The small firm was founded in 2019. Their team offers HR services.

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Most Reviewed HR Recruiting Company in Kyiv

Check out a HR Recruiting Company in Kyiv with the most new reviews in the past 12 months.

• 1 ALLSTARSIT 19 new reviews
• 2 Hiretop 16 new reviews
• 3 OnHires 12 new reviews
• 4 Digital Hiring 🚀 IT & Digital Recruitment | Poland, Europe, Ukraine, US 🚀 7 new reviews
• 5 ScaleJet | eCommerce HR Agency 6 new reviews
• 6 Alcor 4 new reviews
• 7 Web Recruiters 4 new reviews
• 8 ART2HIRE 3 new reviews
• 9 ITExpert 2 new reviews
• 10 VP Team 2 new reviews

HR Recruiting Company

• 11 Talent First 2 new reviews
• 12 DTEAM 2 new reviews
• 13 Smart Solutions 1 new reviews
• 14 Brainy Agency 1 new reviews
• 15 920 Solutions 1 new reviews

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• Staffing Blog

Recruitment marketing strategies for 2024: What’s next?

As we continue through 2024, recruitment professionals face a landscape that is quite different than it was a decade ago:

• The advent of artificial intelligence (AI), machine learning algorithms, and advanced analytics has revolutionized the way recruiters source, engage, and hire talent. 
• The emergence of Gen Z as a significant portion of the workforce brings new expectations and preferences to the forefront, with a focus on purpose-driven work, ethical business practices, and opportunities for professional growth and development. 
• And we can’t forget the COVID-19 pandemic , which accelerated the adoption of remote work practices, led to a decentralized workforce, and changed candidate expectations regarding workplace flexibility and remote job opportunities.

Navigating these shifts effectively means embracing innovative recruitment marketing strategies that align with current trends and future projections. Get it right, and your firm is poised to seize new opportunities and attract top-tier talent in an increasingly competitive market.

Here are the top strategies to use in 2024 to be successful in today’s uncertain and always-changing candidate market:

Embrace programmatic job advertising

Programmatic job advertising has transformed how recruiters reach potential candidates. By harnessing data and algorithms, recruiters can precisely target job ads, ensuring they reach the right audience at the right time. 

In 2024, we anticipate continued adoption of programmatic advertising, driven by its effectiveness in maximizing ROI and streamlining the recruitment process. There’s no way around it: to stay competitive, recruitment professionals must integrate this technology into their recruitment marketing strategies to find the right candidates. 

Harness the power of social recruiting

Social media has become an indispensable tool for recruitment marketing, enabling recruiters to engage with candidates on a personal level and showcase their employer brand. In 2024, social recruiting will continue to gain prominence, with platforms like LinkedIn, Facebook, and Instagram serving as key talent acquisition battlegrounds. 

By leveraging social media channels strategically, recruiting professionals can amplify their employer brand, connect with passive candidates, and build a talent pipeline for the future.

Elevate employment branding and reputation management

A strong employer brand is essential for attracting top talent in a tough talent market. In 2024, we’ll see a renewed focus on employment branding and reputation management as organizations strive to differentiate themselves and stand out as employers of choice. 

By articulating your unique value proposition and showcasing your company culture, your staffing firm can attract A-level talent and create a compelling candidate experience from the first touchpoint all the way through to the final hire.

Utilize automation for enhanced recruitment efforts

Automation technologies, like Bullhorn Automation , are revolutionizing the recruitment process. They enable recruiters to automate repetitive tasks, streamline workflows, and focus on high-value activities. These tools aren’t about replacing recruiters; they’re about enhancing their capabilities. 

In 2024, widespread adoption of automation tools is expected to continue as staffing and recruitment professionals seek to improve efficiency, reduce time-to-fill, and deliver a seamless candidate experience. By embracing automation, recruiters can stay agile in a rapidly changing environment and remain competitive in the talent market.

Invest in personalized candidate experiences and DEI

Recruitment strategies in 2024 must prioritize personalized candidate experiences alongside robust diversity and inclusion initiatives. This combined approach acknowledges the individuality of each candidate while fostering a workplace culture that embraces and celebrates differences.

Personalized candidate experiences entail tailoring recruitment processes to meet the unique preferences and expectations of each individual. This involves leveraging data analytics and automation tools to gain insights into candidate behaviors, allowing recruiters to deliver tailored experiences that resonate on a personal level. By understanding candidates’ backgrounds, interests, and career aspirations, recruiters can cultivate meaningful connections, enhance candidate satisfaction, and strengthen employer branding.

Simultaneously, diversity and inclusion initiatives are integral to building a workforce that is inclusive and welcoming to everyone. Organizations are recognizing the value of diverse talent in driving innovation, creativity, and business success. In 2024, recruitment professionals need to prioritize diversity in their recruitment efforts, actively seeking out candidates from underrepresented backgrounds and fostering inclusive workplace cultures where all individuals feel valued and respected.

Want better candidates? Faster fills? Lower recruiting costs? As the recruitment landscape continues to evolve, Haley Marketing and Bullhorn can help you move forward confidently: delivering smart solutions to maximize ROI on your recruiting spend. Contact Haley Marketing’s recruitment marketing team today.

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