*A special guest post by Liz Makin
Is your recruitment business stagnating or are you struggling to move your business forward? Have you reached a crossroads with your recruitment business and don't know which way to go? These may all be signs that it is time to change your recruitment business in 2018.
Here are some ideas as to how to change your recruitment business:
Where is your business currently? Honestly review all aspects of your recruitment business. You may want to use a SWOT analysis in which you consider the business strengths, weaknesses, opportunities and threats or other analysis tools. Use feedback from your customers, staff, suppliers and business contacts to widen your perspective.
Where do you want your business to be? Decide where you want your business to be over the short, medium and longer term. You may be aiming for rapid growth or stabilising the business with more steady growth or you may want to get the business ready for sale. You can now start to identify what needs to change in the business and what you need to do differently by comparing where you want the business to be with where it is currently.
What are the current and future trends? What are the trends in recruitment and in your marketplace? What will impact your business over the next few years, including customer preferences and how are they likely to change? What is and will be happening in the wider world (economic, political and business) that may impact your current and future business? What are your competitors doing and what are their plans?
Think creatively and look for new opportunities. Get creative in your business and look for new opportunities by asking what if questions, thinking differently, looking at things from different perspectives, allowing ideas to flow, not making assumptions or judgements, making connections, associations and looking for opposites and letting your mind wander. Try this with your management team or use third party help.
What can you stop doing? Consider your current business and what you don't need to do any more. You may have obsolete processes, products and services that the customers don't buy or that are unprofitable. Decide what are you going to stop doing in your business.
Challenge everything. Think about all aspects of your current business and really challenge everything you are currently doing e.g. Do you need new equipment, software and procedures? What cost savings can you make? How can you make your sales and marketing activity more effective? Have you got the right staff in place? How can your business be more productive?
Think about your contribution to the business. Consider your management style and behaviours, as well as those of your management team. Think about leadership and management skills, communication, time management and your impact on the business performance and those around you. How can you and your management team improve your effectiveness and contribution to the success of the business?
What will you to do differently? By doing the above review you can understand the changes you need to make to move your business to where you want it to be. Think through what you need to do and when.
Plan and take action. From here make a plan of what you need to do and change in the business including the changes, priorities, deadlines and detailed actions. Now you have a plan you can start taking action throughout the business to make the necessary changes. Remember to be flexible and adaptable, updating your plan as circumstances change.
Seek help and support. You may want to use different people in your business to help with the above but if the above feels too much to do within your business consider seeking help and support from people outside your business.
So how are you going to change your recruitment business in 2018?
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