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A common conversation in 2023 is about uncertainty. Inflation, interest rates, global events, and local legislative changes. Sometimes we talk ourselves out of success.
The past couple of decades have shown us that when business conditions change then perm recruitment drops and drops fast. Benchmark data shows we have already slightly fallen from the peaks of a year or more ago.
In these circumstances the non-perm revenue is what saves the business and provides a foundation for re-growth. For most recruitment agencies, non-perm revenue is temp and contract revenue.
We are joining a long list of commentators urging recruitment agencies to analyse their current lines of revenue, stress test them for a potential change in business conditions and implement strategies and actions to improve the sustainability of their business.
Where to start? Or how to reinvigorate your temp & contract processes after the buffet of Perm opportunity has been the focus for the past few years?
- Staffing Industry Metrics benchmark data sets the foundation for measuring and understanding your business mix against the industry.
- Younique Coaching (and others) focus on building robust temp recruitment strategies and trained consultants that can succeed in the fast and disciplined contingent market.
- Ready Set Recruit Legal educates and prepares your business with the frameworks and compliance needed in this changing environment.
These APSCo supporters, and others, are ready to provide the expertise and services needed to help you succeed.
But it is leadership that will make this successful. The discipline to bring the organisation towards solutions with forward revenue, and to celebrate the gradual rise in non-perm revenue as a contribution to Gross Profit.
Business owners, as always, are not the victim of circumstances. They are the drivers of their own outcome.
First published in APSCo Australia "Recruitment & Co." Magazine
