One of the most popular articles on our website is Starting Your Own Recruitment Business. While not a new article, this guide to commencing a new recruitment business still resonates
After the article was published, we received calls from budding recruitment industry entrepreneurs and the discussions made us realise that there is a little awareness of the various options available to those seeking a different work environment.
Most think of commencing their own stand-along business entity, but do not take the next step of evaluating their skills, capabilities and financial capacity to undertake this monumental task.
Running your own business is not for everyone and there are alternatives.
For example, many medium sized companies have creative employment options for their senior staff and this can include relative autonomy for branch managers, profit share and equity options and, of course, industry leading salary packages. For those employees willing to work within an organisation and take responsibility for developing a new sector or a new geography the rewards can be, well, rewarding.
Others may consider the emerging franchising options that are available within the industry, leveraging off the experience, systems, processes and corporate services that a franchising business can provide. Australia's love affair with franchising is well documented and it is always a little surprising this is not even more popular in the recruitment industry as it is in the USA.
Those entering Executive Search need to carefully consider their options. Executive Search is, potentially, the lonely profession. Joining an established executive search business to leverage the facilities and experience of others provides the ideal balance of independence with cost management and peer support.
There are also options available for those willing to partner with a person or entity that brings experience and capital. Several leaders of the recruitment industry either privately or publicly participate in recruitment industry start-ups and assist through the critical first few years of operation. Unfortunately, in this category are the snake-oil salesmen who will take more than they give while committing you to a future with few options – due diligence is required!
HHMC has ongoing conversations in all these areas. If you are considering your future in the recruitment industry contact us now to explore the best options for you.
HHMC has ongoing conversations in all of these areas. If you are considering your future in the recruitment industry contact Richard or Rod now to explore the best options for you.