Recruitment agencies and digging your way out of the credit crunch.

By: John Bult
Submitted: 2008-10-13 14:08:14
Print this article | Tell a friend | For publisher | Social Bookmarking
Rating:
 

There have already been some high profile recruitment agencies anouncing major job losses this year along with many smaller agencies going to the wall.  One thing is for sure, whatever sector you are in you need to seriusly look at the market, the economy and consider whether you need to make changes to survive.  If you are looking to save money, here are som tips as to where to look first.

Audit your suppliers.  Recruitment agencies may have more than 20 to 30 suppliers on a regular basis.  The chances are that at least some of these, given the right pressure will be able to offer a more competitive deal than you are on.  Contact them and say you will be looking for a cheaper supplier, and see what they can offer to try and hang on to your business.  If they can, they will, now is not the time to be loosing long term customers.

Look for contracts of suppliers which are coming to an end.  Then contact 4 potential other suppliers and ask them to quote you.  Even when things are good, if you gte 4 suppliers competing you are more likely to get a better price, in the current climate, everybody needs the business, prices should be keener than ever and may reduce your costs.

Review your advertising spend.  Think carefully before you reduce this, however, it is worth looking at the return on investment of your advertising media.  When things are good, recruitment agencies can be guilty of simply running with 'what is' without questioning if it's the best option.  Take a closer look, if any one isn't giving a return then spend it on something that will.

Consider a restructure.  Staff are the biggest cost to recruitment agencies.  If you are doing less business as a result of the credit crunch, the chances are you should have less staff.  It's an uncomfortable decision, you may need to loose long term loyal workers, but the business' survival must come first.

It's not all bad news.  Where their are casualties there is also new opportunities for other recruitment agencies to benefit from.  Keep an eye open for ailing and failing recruitment agencies.  They will all have customers who will need servicing by someone the day they go pop!

It's never right to panic, however, no is a good time for recruitment agencies to be taking a good lcose look at their business.  The current credit crunch looks set to continue.  Recruitment agencies who don't recognise the need to change to survice may pay the ultimate price.

John Bult runs an internet jobs board for recruitment agencies in the UK

Article source: Expert Articles

Most Recent Articles in Careers Employment category

  • Planning for Tomorrow - By: James O. Armstrong
    Following is part three of an interview with Phyllis Slater, owner of Slater Solutions LLC. Ms. Slater has devoted years to providing coaching and concierge services to the working caregiver and aging parent. Visit Phyllis Slater's website simply by Googling the name Phyllis Slater.
  • 10 Powerful Tips for the Newbie Internet Business Entrepreneur - By: Gagan kainth
    Stepping out into the Internet Marketing arena can be a daunting task for the newbie internet business entrepreneur. Here we outline 10 of the most important points to remember before you begin your first campaign.
  • Answer These 10 Question and Start Your Work at Home Based Business Only Then - By: Gagan kainth
    If you believe that the internet is still in its infancy, then you have to be aware that the infancy is almost over. The internet gains its maturity faster. Everybody wants to take advantage of the internet must treat it as if it a mature entity. You've got to be serious about using internet as your business vehicle. If you still think that you can easily make fortune out of the internet, then you may miss the big picture of it unless you are aware of the things you should...
  • The Internet and Employee Productivity - By: Melville Jackson
    American employees of all ages and income brackets are growing increasingly unhappy with their jobs.
  • Tips on Becoming A Paramedic - By: Nick Redding
    Becoming a paramedic is one of the most rewarding jobs, each day is different and each day brings with it new challenges. The most rewarding part of this job is that you get to make a difference to people's lives and often save people from life threatening situations.
  • Background Screening: Gathering the Interesting Tidbits - By: Garret Lloyd
    Background screening is very important when hiring an employee or renting out an apartment. A thorough background screening can indeed dig up important bits of information about a person that he/she might never disclose voluntarily.
  • Field training opportunities when looking at jobs in pharmaceuticals - By: Seb Bult
    Shadowing an experienced member of the sales team is a great way to start your medical sales career. When I had my first job in this area, I spent the first few days with someone who also did field training two days a week.
  • The World Of Graduate Recruitment And Jobs Boards - By: John Bult
    The use of jobs boards is now very popular and offers the graduate a wealth of information and resources when looking for the ideal job.
  • Coping with student loans graduate jobs and long term debts - By: Jac Bult
    During 1989 and 1991 when I attended university the student grants were available to fund study. Shortly after this period grants were replaced by student loans so I was lucky to have fallen amongst the last of the lucky ones.
  • Making the most of job boards in graduate recruitment - By: John Bult
    Jobs boards have become more and more significant in the world of job seeking in recent years. They now offer a wide range of tools which are useful, especially in the ultra competitive world of graduate recruitment. Here is a brief outline of what you can expect from modern jobs boards.