Now that we are at the end of the 1st quarter for CY 2016, is your run rate meeting your forecasted budget for 2016? If not, it could be your strategy or your depending on the wrong people to execute that plan. Many staffing firms, and especially those that staff IT and Engineering positions, havent the rigor and often are entrenched in how they grew in the past. Unfortunately, that just doesnt work any longer.
In this digital age, where everything moves at light speed and the continual need to do more with less requires staffing agency owners to take a step back and re-evaluate and assess how they are going to turn the tide as we gear up for the second quarter of CY2016.
When you went through this years budget projection did you take into account:
When you will break even with the number of placements and consultants-on-billing?
How much revenue is net new revenue for this year from new business and what portion is carried over from contractors that started prior to the end of last year? What were the number of contractors-on-billing this time last year?
How many consultants will end their assignments earlier than anticipated?
What risk factors does your business face from poor mix of business, what happens in the event your largest customers suddenly no longer are a customers?
Are your recruiting technology and systems keeping pace with how the market has evolved and delivering on the increasing demand to provide greater ROI?
Is your recruiting team hampered by the lack of access to the talent they need to recruit for the job orders in their pipelines?
Is your management team capable of taking your staffing firm to the next level?
What does your staffing agencies sales funnel look like and are you acquiring new buying customers for your services?
Is your staffing firm a niche specialized services agency or are you diluting your real value trying to staff every position your customers send to you?
Do you want to double your staffing firms revenue and gross profits, but are just unsure of where to begin?
How well has your business model really worked and can it scale?
Are there expansion plans either by specialty or location; what, where and when?
Do you have mostly VMS/MSP customers that require high volume recruiting requiring a more efficient and streamline recruiting & delivery capability?
What made your staffing firm excel in the past and what is possibly preventing you from meeting your goals now?
Are there multiple partners with differing priorities?
If you identify any of the above as problems or bottlenecks in your organization, you may find that bringing in a third party consultant is the right solution. Let us help you define recruiter metrics that work. If this sounds like you, give our consulting services a try. Check them out here.
