According to the latest reports by the REC on trends in the industry, the recruitment industry is worth £32.2billion. With this insight, it is high time entrepreneurs took advantage of the marketplace.

As more organisations opt for non-traditional working environments, the demand for temporary employees (contract workers) continues to increase. So, what should budding recruitment agencies do to leverage this golden opportunity?

In this piece, we identify five key features for success and how you can adopt the same solutions especially if you are just starting a recruitment agency .

1. Be current with government policies

Every agency is responsible for its success and this involves knowing what and what not to do. Are there standards you must observe? What requirements are expected of your company? Recruitment business entrepreneurs must be knowledgeable about the latest legislative policies such as Onshore Employment Intermediaries . It is also in your best interest to understand the modalities of Agency Workers’ Regulation to avoid breaching the law.

2. Adopt high-technology resources

Technology will rule the future of recruitment. At the current rate of advancement, it is impossible not to recognise its value to your agency. UK recruiters should be able to provide hiring services for any firm, to any candidate and from any location. Niche services appear to be the most appealing regardless of the recruiter’s location. Recruitment is going mobile; jobs must be easily obtainable via a smartphone or other mobile device. Agencies that recognise this need will go far.

3. Make your client’s job easier

Many companies are too overwhelmed with their core functions, to source for new talent and conduct interviews. As a recruitment agency, it is your responsibility to make this as seamless as possible while guaranteeing the best candidate for the position. The nature of relationship between a client and a recruitment consultant is the difference between a successful and struggling agency.

4. Use your money wisely

Many entrepreneurs who are starting a recruitment agency often use a financier, this makes it easier to bear certain overhead costs. However, use the money on equipment and resources that will reward you in the long run. For instance, invest wisely in innovative technology and solutions that will make your job faster and easier. They not only streamline your functions but eliminate time inefficiencies.

5. Consider outsourcing some admin roles

Your in-house involvement in administrative roles might be slowing down your efficiency. Since services such as facility management and accounting can be outsourced, consider doing so for your agency. Outsourcing allows you to focus on the core aspect of your business while benefiting from cost-effective, high-quality services of a professional.

A sound back-office support system and a healthy cash-flow can go a long way in boosting your business’ performance. There are several solutions that can help you understand sectors to practice in rather than waste resources in unprofitable areas.

Business confidence rose last year among UK workers and many are optimistic that this year will record a similar success. Are you still unsure about how to start your recruitment agency? Contact a professional for more information.