Every day of the year new businesses are born and, with those businesses, come business plans that either generate profitability and long-term growth or failure after a few short months of disorganization. If you are considering starting a staffing agency, you may have in mind some of the tools necessary to create a winning company; however, in this article we are offering the five key elements to take your staffing agency ideas to full, thriving completion with a strong trend toward long-term growth and personal wealth, as a result. Let’s get started!
Key 1: Research Prospective Clients and Candidates
In the staffing agency business, the relationships built with prospective clients who will hire your staffing candidates will define the backbone of your company. Because these relationships are critical to your success, you’ll want to ensure a wide band of agency staff will support them. For example, you’ll want the executives within your staffing agency to meet personally with each prospective client.
Relationships that are established can be held with continuing attention by the staffing agency, along with employee candidates who are properly vetted and experienced for each position. Research potential clients and ask current clients for referrals to others; the end result of such relationships focuses on your support that translates to less work for your client. Such relationships create win-win outcomes.
Research potential employee candidates by checking professional sites, such as LinkedIn, to determine qualifications and background of potential candidates. Establish relationships with candidates that are respectful and trustworthy; this will lead to referrals to your agency by candidates who’ve been successfully placed.
Key 2: Analyze Competitors & Develop Plans to Surpass Them
The competition for staffing agencies may be heavy for your regional area; however, with your winning tactics, you can overcome the obstacles and surpass competitors. First, do your homework: discover everything you can about your competitors. Find out the pricing models used, the industries within which the agencies focus, the candidates who approach the competitors and any unique or special features offered by each. After researching, consider ways your agency can surpass the efforts of competitors: you may offer better “opening day” rates, with lower charges overall to clients who sign long-term contracts. Such efforts build your clientele, while eliminating the threats of competitors.
Key 3: Create a Dynamic Business Plan
A business plan is the basis for every aspect of your business; including finances, marketing, staffing, operations, forecasting and more. Creating a truly dynamic business plan will allow your staffing agency to take leaps ahead during the early years of the business, a tactic most business owners don’t consider along the way. If you don’t have an excellent business plan for staffing agency use this comprehensive guide to jumpstart your direction.
In addition to creating the roadmap for your business, a well-crafted business plan will identify your goals and include measurements or metrics that will define progress. The completed business plan may also be presented to lenders, investors, banks or other financial institutions, if startup funding is needed. Refer to the business plan regularly during the first years of your staffing agency and make changes as needed.
Key 4: Arrange Memorable Marketing Strategies
It goes without saying that prospective clients and employee candidates must be contacted on behalf of your staffing agency. Without both, your agency will soon be in difficulties; however, the most common form of marketing by staffing agencies remains one of the best: personal conversations and relationship-building. Social media efforts, such as Facebook and Instagram, are effective in supporting personal relationships, but, much like trusted associates in several industries, prospective clients and candidates will want to meet personally to begin and continue relationships. Use this strategy to the advantage of your staffing agency by promoting “office parties” at your location for job-seekers and client-employers. Use informal environments to introduce and bring parties together, in unique offerings not utilized by competitors.
Key 5: Prepare the Organizational Structure
Prior to your startup date, you’ll want to gather employees to determine several of the processes of your agency. Create a plan that includes equipment needed, furnishings and supplies required, software programs for financial accounting, lighting, security features, the organizational structure for roles and responsibilities of each staff member, and other elements that make up your unique agency. By working together, everyone will be properly prepared before the launch of the agency and small, but important, details will be addressed.
Launching a staffing agency can be challenging and greatly rewarding. The staffing agency-employer relationships that are built over time can evolve into expanded business opportunities and stronger personal friendships as time goes on. Additionally, by using unique marketing techniques, a very successful first year of business and succeeding years of growth will be evident in the long-term growth outcomes. Wishing you the best of success!