Tag Archives: CRM

Starting your own recruitment firm in 2021

If you’ve been in the industry for a while, you know that running a recruitment agency can be equally rewarding and lucrative. But it’s not exactly a walk in the park, particularly in the early days. You need to consider loads of areas when launching your firm, before you even think about hiring staff. Speaking broadly, some of the most common areas you need to consider are:

  • Finding and appointing your professional advisors, such as accountants and lawyers
  • Registering your business – What type of entity suits you best? What shareholder agreements do you need in place?
  • Designing your branding and website (remembering to check on Trademarks!)
  • Setting up your finances and banking – Will you need external funding?
  • Protecting your business – What insurances do you need? e.g., Professional Indemnity, Public Liability, Workers Comp, Property/contents/equipment insurances, etc.
  • Putting your IT infrastructure in place, such as phones, email, data storage, devices, network, etc. and, of course, critically, cybersecurity and backup solutions
  • Your operational software, such as your CRM/ATS, back-office, accounting platforms, etc.

Here is our guide to getting started.

Understand the true costs

Of course, we all know that starting a business can be expensive, but many new business owners are surprised at just how many costs they hadn’t anticipated. It’s really important to be across all of the costs, big and small, from office rent and insurances to software subscriptions, IT equipment, and business development expenses.

One cost many business owners forget to factor in is their own time. Your time is a valuable resource, and it’s important to put a dollar figure on it to understand if you are making the most of it. For example, if you spend a lot of time on admin instead of business development, you might be costing the business a significant amount in lost opportunities, so it’s worth looking for a solution from the outset. The good news is that the right tech in your business, from your accounting software to your CRM/ATS, can do many of these tasks for you at a far lower cost.

When it comes to hiring staff, you need to think about a range of costs. On top of salary, you need to pay superannuation, sick leave, annual leave, and payroll tax. You’ll also need to factor in the time (and the cost) it will take to train them up. Of course, as a recruiter, you’re well aware of the value of the right hire and the costs of the wrong one, but when it’s your own business, it’s far more personal.

Find your niche and build your brand around it

With so much competition in the marketplace, it often pays for new businesses to start with a defined niche or a handful of industries to target. This will also help you find your first hires, as you can look for people with skills in your specific field.

Once you know your niche, you can start building a brand identity around it. From your business name to your website, a brand and design that attracts your target market is a must. It will help potential clients identify you as the right agency for the job.

If you don’t already have a clear vision of this, consider talking to a brand expert who can help you create a business that engages your customers.

Unless you have a background in graphic and web design, it’s a good idea to outsource the creation of your website and logos to an expert. Your website is often the first thing people will see when searching for a recruitment firm, so you want to make sure it represents your ethos and offerings accurately.

Set up your cloud-based software solutions

Investing in the right cloud-based software solutions can reduce start-up and ongoing costs, but it pays to know which ones will suit your needs. You’ll need an accounting solution to manage invoices and incoming payments, as well as a payroll system for your employees. Investing in a quality CRM and ATS tool can increase efficiency and allow you to track and automate communications and workflows. Recruit Wizard is designed specifically for recruiters and can be tailored to suit your individual needs. It incorporates candidate sourcing and email integration and highly effective applicant tracking and customer relationship management tools.

Know the rules and protect your business

When it comes to legislation and regulation, it can feel like change is the only constant, but as a business owner, you must be across the most recent privacy acts, workplace health and safety standards, labour hire licensing, and fair work regulations. You’ll also need to develop a code of conduct and privacy policy, as well as a way to store and manage people’s data. To do this, you’ll need to be across Australian data and privacy legislation, and the relevant legislation of any other countries in which you do business to remain compliant.

You’ll also need the right insurances – from building and property to public liability and professional indemnity. If you want to work with larger organisations or government departments, you’ll find many of these clients will require you to have these insurances in place before they commence a relationship with you.

Get out there and find your clients

With the right tools and tech in place, you’re ready to go out and do what you do best – connecting with people and doing business. It can feel like a daunting task but starting a business can be incredibly rewarding, and today’s tech can do much of the heavy lifting for you.

When it comes to starting a recruitment firm, investing in a robust and effective recruitment management solution is a no-brainer. We’ve helped many startups with a locally supported solution designed for recruiters by recruiters, and you can read more here or set up a time to chat with our team to kick-start your business.

Three areas recruiters should consider as recruitment activity increases

The latest employment data from the Australian Bureau of Statistics (ABS) shows that Australia’s employment rates have bounced back to pre-pandemic levels. We’ve also recently seen the number of vacancies surpass 2019 numbers, so all signs are pointing to a recovery in full swing.

When you add in the fact that a significant number of Australians are set to reconsider their career options in 2021, recruiters are going to be busy, perhaps busier than ever before.  While this is a positive, it may take some preparation, particularly if you reduced your own resources during the pandemic. The key to navigating more vacancies and larger candidate pools is having the right tech in your stack.

Your Applicant Tracking System (ATS) should be the beating heart of your tech stack, enabling your recruitment process at every turn, but the reality is that for many, the wrong tech is causing bottlenecks and costing time and money.

Here are three areas recruiters should be looking at to prepare for the busy months ahead.

#1 Automate, automate, automate

With larger candidate pools comes the need for a more efficient process. Automation is key here.  While it is often (unfairly!) blamed for a decline in candidate experience the reality is that with the right tools, an automated process should make for a better experience for you and your candidates.

Recruit Wizard clients are seeing outcomes in automation across all stages of the recruitment process, and some of the key areas to look at are:

  • Candidate communications: The right ATS should allow you to automate candidate communications with ease while still personalising them to keep candidates engaged and show empathy to those who didn’t make it this time.
  • Fully automated resume processing: In a busy market, you’ll likely receive hundreds of resumes a month.  Automated resume processing puts all the resumes your business receives straight into your system within seconds of receiving them.  The right tools do this in a sophisticated way to verify accuracy. Look for a system that includes manual verification to give you high-quality candidate data at your fingertips.
  • Integrations: Integration between the other tools you use, such as reference-checking or video calling platforms, and your ATS is a must.  If you are spending time manually entering information or worse, wondering where to find your data, this is a key area to focus on.  The right provider should be keen to partner with you to support your recruitment process and look at where better integration is possible.

#2 Client and candidate self-service portals  

Making sure your data is up to date is absolutely essential to navigate a busy period and give your team time back to focus on more important areas.  A portal whereby your candidates and clients can update their own details and feeds directly into your ATS is a must-have.

It’s something Recruit Wizard clients love because it means they know their data is as accurate as possible, and they don’t have to do it themselves.  It’s also a great way to see who in your database is engaged and actively looking – if they’ve updated their profile recently, it’s a good indication they are keen to hear from you.

#3 Real-time, visual dashboards

 In today’s ever-changing world, real-time access to your business analytics is always important, but as we recover from the pandemic and navigate significant shifts in the market, it’s crucial.

Your ATS should produce easy to read, visual dashboards that show you how your business is doing in real-time.  You shouldn’t need a degree in data science to interpret them either – it should be something that your entire team can understand and leverage to make better business decisions every day.

Your ATS is the heart of your business and should be the single source of truth for all your activity.  If you are using an out-of-the-box solution or working with a vendor who doesn’t support your business goals, it might be time to change.

At Recruit Wizard, we are passionate about designing solutions that work for our clients, saving them time and money and enabling them to grow their businesses. Get in touch to experience a leading ATS/CRM with local support, designed for your business.