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How to come up with an effective recruitment business plan

If you are thinking about starting a recruitment business, you will need to think carefully about your recruitment business plan. This will be necessary to persuade potential investors and your bank, to support your venture. Coming up with a recruitment business plan is not very difficult, but it needs some consideration.

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These are the steps you should take before starting your business: -

  • Identify your target market after doing some thorough research in your local area.
  • Download a free template from a website and use it to guide you as you write your recruitment business plan.
  • Include a projection of your charges.
  • Have an office which you can use to interview potential clients and employees.
  • You’ll need a website to advertise your services.
  • You will have to set up methods of payment for your services, for example, will you use PayPal and which credit/debit cards will you accept?
  • Use local newspapers to advertise jobs and write thorough job descriptions. You will probably need at least one assistant to help you.
  • Microsoft Office has downloadable templates that are free for you to use to write a sample contract.
  • Identify your training needs and find out where training in business management can be found.

You will need to provide information about how you propose to organise your recruitment business. Also, you will have to write a summary regarding how you will fill a gap that other recruitment agencies have not.

You also need to decide: -

  • How your business will be organised
  • How the company will be structured
  • How to market the services you will provide
  • How you can finance the business
  • What type of personnel you will specialise in recruiting to send to different companies
  • Which software tools you will need for your business
  • Make use of free resources from the government’s business website
  • If you will use a virtual assistant who works remotely or one that is office-based to help you.

Your bank will advise you about how to go about setting up your new start-up company and you should ask an advisor about training courses that would be appropriate for both you and your assistant.

You will probably need an accountant, unless you are one, so you will also need to decide if he or she will be needed on a temporary or permanent basis.

Unemployment is on the increase around the world. Therefore, it is worth your while starting a company which can put jobseekers in touch with employers. Companies are eager to cut their costs and often rely on staffing agencies so that they don’t have to employ many Human Resources personnel.

You might also want to consider screening jobseekers and conducting interviews on behalf of your client.

You will need to decide what niche you want to concentrate your recruitment business in. If you have expertise and experience in a sector, then it would make sense for you to use your knowledge when you make your recruitment business plan. For example, if your experience has mainly been in the catering business, it would be best if you concentrated on seeking catering staff for the catering industry.

Every sector has different needs when it comes to recruitment. You should take time to spy on your competitors to find out how the business works if you only have limited experience in the field you would ideally like to work in.

If you have never worked in a Human Resources department, or have never had to recruit personnel before, you will need to do something to counter this. It might be a good idea to apply for an internship in such a department in order to gain some experience in recruiting staff. Alternatively, try to get an internship in a recruitment agency to discover how it runs.

You will have to hone your people skills if you are going to do the recruiting for companies. Of course, you can employ an assistant who does have the experience you lack. The problem is that you may not be able to afford to employ someone when you are just starting your new business. You will need to have the ability to recognise which jobseeker would best fit job vacancies.

Your business recruitment plan will need to detail your start-up costs. Work out how much it will cost to market your services, pay staff, insure your business, and ensure that you are not going to run foul of the recruitment laws. You will have to have insurance for your business and factor the cost of this in to your recruitment business plan. If you are intent on employing people, then you will need to have insurance for them too.

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