business plan recruitment

How to write a business plan for recruitment in 2024 (template included)

• Published on June 3, 2020
• Updated on February 12, 2024

Writing a business plan in recruitment has always played a crucial part in the interview process for a number of recruitment agencies around the world.

A comprehensive business plan can demonstrate a recruiter’s commitment, knowledge and commercial acumen. During economic uncertainties in 2023, these qualities are more important than ever.

Arriving at an interview armed with a comprehensive business plan before you’re even asked will no doubt set yourself apart from other recruiters.

During economic uncertainties, managers will need to present a business case to leadership for budget approval in order to make a hire. Your business plan will be an important element of this business case. An impressive business plan could be the difference between landing an offer today, or falling into a pipeline of other candidates.

In this article, we share a step-by-step guide outlining how to create a comprehensive business plan. We walk through the key components and include examples.

At the end of the article, you can download a free recruitment business plan template which is tailored towards the key components mentioned in this article.

A business plan should be packed full of relevant information but should be compressed and to the point. Avoid verbiage, stay specific and keep to 4 – 6 pages.

Introduction

Start with a title. Include your name and the company you’re writing the business plan for. A little personalisation will go a long way.

Underneath your title, outline the objective of your business plan and again personalise it towards the agency you’re interviewing with. While you have the hiring manager’s attention, this paragraph is an opportunity for you to demonstrate how comprehensive your business plan is. The aim is to capture the hiring manager’s interest so they continue to read each component:

“The objective of this business plan is to outline the value I can add to employer’s name.

In this business plan, I have highlighted my specialism, hiring activity in my market, my candidate and client strategies, my methodology, how I plan to recruit through economic uncertainties in 2023, my competition and my personal revenue projections over 12 months.”

You can use this paragraph as a way to introduce your business plan verbally if you’ve called up a hiring manager. You can also use this extract in a cold email.

Your specialisation

This is a crucial positioning statement for your value-add. It sets out precisely where your network and experience lies and what you intend to bring to the table in your new role.

Your specialisation can be described clearly by outlining what roles you will specialise in, what industries you will target, what level of seniority you will focus on and what geographies you will cover.

For ease of reading, you can use each component as a title and use bullet points to expand upon your answers.

Taking a Technology recruiter as an example:

What roles I will specialise in:

• Product Management permanent roles
• UX/UI Design permanent roles

What industries I will target:

• Series A – C funded technology startups (high investment, high growth and high volume of roles)

What level of seniority I will focus on:

• Mid to senior (120 – 180k salary range for Product Managers, 140 – 200k salary range for Designers)

What geographies I will cover:

• Based in Singapore, the local market will be my core market
• Secondary markets include Jakarta, Bangkok and Kuala Lumpur due to less competition from recruiters and high volume of roles

Hiring activity trends

The hiring activity trends section provides an opportunity for you to demonstrate and portray your knowledge of the market.

The 3 important components of this section are: hiring activity over the past 3 years, hiring activity for next year and how you predict hiring activity to shift beyond that.

Utilise your own knowledge of the market but back it up with research gained from reputable sources related to your market e.g. Tech in Asia, Tech Crunch, Channel News Asia, The Straits Times or The Financial Times.

You’ll want to cover how hiring activity has increased or decreased, what the drivers of growth are in your industry and what the threats and challenges are within your sector.

Candidate strategies

Moving on from market trends, this section indicates how you will acquire candidates for your desk. It offers an opportunity for you to demonstrate the experience you’ve learnt in candidate management from your previous firm, but also an opportunity for the employer to ensure that your approach aligns with theirs.

3 key components of this section include: how you will generate candidate leads, what challenges you expect to face and how you will overcome these challenges.

Taking a Front Office Banking & Financial Services recruiter as an example:

How do I plan to generate candidate leads:

• Direct headhunting using a LinkedIn Recruiter account, this costs approximately $X amount, the key benefits being access to a high volume of InMails and enhanced search capability. This has been the sourcing tool for 60% of my previous placements

Challenges I expect to face:

• In light of economic uncertainties in 2023, highly sought-after candidates may be risk-averse and may not see this as a good time to move jobs

How I will overcome these challenges:

• I will develop relationships with these candidates for the future but I will adjust my sourcing strategy accordingly by increasing volume of direct approaches

Client strategies

A similar section to candidate strategies but geared towards clients. Arguably more important than candidate strategies during a recession as the market could be job-short – even in the good times, strong business development capabilities in recruiters are harder to find.

This section includes 6 key components including how you plan to onboard new clients, how you plan to sustain relationships with clients for repeat business, what industries your clients are in, the challenges you expect to face and how you will overcome these challenges.

Take these bullet points as a basic example:

How I plan to onboard new clients:

• During a recession, I plan to cultivate relationships by helping and consulting clients on non-recruitment related issues, such as advising clients on the current state of the market
• I plan to generate leads by making 25 cold calls per day during the ramp-up period, to again offer support and advice where needed, and to leverage any open roles
• A soft approach of connecting with hiring managers, HR contact and C-Level candidates on LinkedIn, to establish working relationships and eventually convert into clients

How I plan to sustain relationships with current clients and win repeat roles:

• The most important way to sustain relationships is by offering a service that is superior to competitors. That is by being transparent, sticking to deadlines and delivering results
• Regularly catch up with clients on a monthly basis to see how they’re doing and see if you can generate new roles
• Keep yourself updated on company news and congratulate clients on milestones e.g. if they generate a Series C round of funding

What industries I will target clients in:

• Series A – B funded technology startups
• During a recession there is less of an appetite to use agencies due to an unprecedented volume of great candidates available in the market
• Offer free support to companies currently not using agencies, provide an impressive service and convert into paying client post-recovery

The 6th component is “examples of target clients” and this is where you can really demonstrate tangible market knowledge. Use company names, find the potential contact in each company and add your comments, such as the volume of roles you expect from that client. 5 examples should be enough to peak your hiring manager’s interest.

You can use a table to display this information with ease:

It goes without saying that you should never be tempted to use information that is proprietary to your previous employer. This information can be openly found with some basic LinkedIn research.

My methodology

Are you a recruiter that is focussed on crunching numbers? Are you a recruiter who is focussed on cultivating long-term relationships? In this section, you can include a few quick bullet points to explain how you approach recruitment. This information gives your hiring manager an indication about whether you hold similar values and whether you have similar working styles.

How you can adapt to recruiting during a possible economic downturn

This section is a new one in response to market conditions in 2023 but can demonstrate how you are prepared to deal with current and upcoming challenges.

You can use this section as the title and include bullet points to outline how you will adapt to these market conditions.

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My key competitors

Which recruiters and agencies offer the greatest competition? Demonstrating your knowledge in this area highlights that you are commercially aware outside of your core market.

Include about 5 different competitors who are directly competing in your patch. You can use the table below to display this information:

Personal revenue and target projections

In many business plans, financial projections are of utmost importance and can demonstrate your commercial acumen. If you’ve ever watched Dragon’s Den, you’ll know what happens when you don’t know your numbers!

Project your personal revenue for 4 quarters. You can start your calculations by predicting the average annual salary of a candidate in your patch. You can project your average percentage fee agreed with clients and from there you can calculate your average fee. Once you have this, you can predict the amount of placements you’ll be making per month.

Make sure your revenue projections are realistic and achievable. Avoid the temptation to predict vastly optimistic revenues, especially during a possible recession. You must allow time to ramp-up and there must be a logical relationship between your historical and predicted revenues.

The plan only includes project revenue. Your historical revenue should be on your CV.

Take the below as an example:

My predicted average annual salary of candidates:

My predicted average percentage fee agreed with the client:, my predicted average fee:, my predicted average placements per month, my projected revenue over 12 months.

Underneath, you can also include the KPIs you will set yourself to guide you in achieving these numbers. For example, you can set yourself a guideline for how many CVs you need to send, how many candidate meetings you need to arrange, how many client meetings you need to arrange and so on.

The template

We’ve constructed a free template built around the components mentioned above, so you can create your own for when you reach out to hiring managers.

To download this template, please add your email below and you’ll be redirected to the template.

By downloading our busines plan, you agree to our  Privacy Policy and Notification Settings .

This step-by-step guide should give your hiring manager a clear idea of your plan. If executed successfully, you’ve already demonstrated your commitment, knowledge and commercial acumen before even attending an interview.

The way you’ve structured your plan will give your hiring manager a very clear indication of your methodology and whether you’d fit their structure. Keep in mind that if your methodology is focused on high volume recruitment, it’s not going to work well with an executive recruitment agency.

As a next step, learn this plan inside and out. Be prepared to pitch your plan to your hiring manager and answer detailed questions surrounding each component.

Leave your interviewer with no room for concern and secure that role! Lastly, if you enjoyed the article, please consider subscribing or following us on LinkedIn to have new articles for recruiters like this delivered directly to your inbox.

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As Founder of Charterhouse Partnership, I led the opening of 5 international offices, hiring & training hundreds of recruiters. Please subscribe to our weekly newsletter where I share my insights on the recruitment industry.

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• Sample Business Plans
• IT, Staffing & Customer Service

Staffing Agency Business Plan

As the job market becomes increasingly competitive, businesses are looking for innovative ways to attract and retain top talent. It is where your staffing agency will become profitable.

Are you looking to start writing a business plan for your staffing company? Creating a business plan is essential to starting, growing, and securing funding for your business. We have prepared a staffing agency business plan template for you to help in start writing yours.

Free Staffing Agency Business Plan Template

Download our free business plan template now and pave the way to success. Let’s turn your vision into an actionable strategy!

• Fill in the blanks – Outline
• Financial Tables

How To Write A Staffing Agency Business Plan?

Writing a staffing agency business plan is a crucial step toward the success of your business. Here are the key steps to consider when writing a business plan:

1. Executive Summary

An executive summary is the first section of the business plan intended to provide an overview of the whole business plan. Generally, it is written after the whole business plan is ready. Here are some components to add to your summary:

Start with a brief introduction:

Market opportunity:, mention your services:, management team:, financial highlights:, call to action:.

Ensure you keep your executive summary concise and clear, use simple language, and avoid jargon..

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2. Business Overview

Depending on what details of your business are important, you’ll need different elements in your business overview, But there are some foundational elements like business name, legal structure, location, history, and mission statement that every business overview should include:

About the business:

Provide all the basic information about your business in this section like:

• The name of the staffing agency and the type of agency you want for example are you writing it for a nurse staffing agency, medical staffing agency or any direct hiring firm.
• Company structure of your staffing agency whether it is LLC, partnership firm, or some other.
• Location of your staffing company and the reason why you selected that place.

Mission statement:

Business history:, future goals:.

This section should provide an in-depth understanding of your recruitment business. Also, the business overview section should be engaging and precise.

3. Market Analysis

Market analysis provides a clear understanding of the market in which your business will run along with the target market, competitors, and growth opportunities. Your market analysis should contain the following essential components:

Target market:

Market size and growth potential:, competitive analysis:, market trends:, regulatory environment:.

Some additional tips for writing the market analysis section of your Recruitment agency business plan:

• Use a variety of sources to gather data, including industry reports, market research studies, and surveys.
• Be specific and provide detailed information wherever possible.
• Include charts and graphs to help illustrate your key points.
• Keep your target audience in mind while writing the business plan

4. Products And Services

The product and services section of a staffing company business plan should describe the specific services and products that will be offered to customers. To write this section should include the following:

List the services:

• Create a list of the services that your staffing agency will offer, which may include all the services for example, will the agency offer temporary staffing, temp-to-perm staffing, direct hire placement, or a combination of these services?
• Describe each service: For each service, provide a detailed description of what it entails, the time required, and the qualifications of the professionals who will provide the service. For instance, do you need a full-time HR or some other personnel specific for interviews?

Screening and Placement Process:

Overall, the product and services section of a recruitment firm business plan should be detailed, informative, and customer-focused. By providing a clear and compelling description of your offerings, you can help potential investors and readers understand the value of your business.

5. Sales And Marketing Strategies

Writing the sales and marketing strategies section means a list of strategies you will use to attract and retain your clients. Here are some key points to include in your marketing plan:

The partnership is a blessing:

Have a competitive fee structure:, marketing strategies:, customer retention:.

Overall, the sales and marketing strategies section of your business plan should outline your plans to attract and retain customers and generate revenue. Be specific, realistic, and data-driven in your approach, and be prepared to adjust your strategies based on feedback and results.

6. Operations Plan

When writing the operations plan section, it’s important to consider the various aspects of your business operations. Here are the components to include in an operations plan:

Hiring plan:

Operational process:, client management:.

By including these key elements in your operations plan section, you can create a comprehensive plan that outlines how you will run your staffing business.

7. Management Team

The management team section provides an overview of the individuals responsible for running the staffing agency. This section should provide a detailed description of the experience and qualifications of each manager, as well as their responsibilities and roles.

Key managers:

Organizational structure:, compensation plan:, board of advisors:.

Describe the key personnel of your company and highlight why your business has the fittest team.

8. Financial Plan

When writing the financial plan section of a business plan , it’s important to provide a comprehensive overview of your financial projections for the first few years of your business.

Profit & loss statement:

Cash flow statement:, balance sheet:, break-even point:, financing needs:.

Remember to be realistic with your financial projections, and to provide supporting evidence for all of your estimates.

9. Appendix

When writing the appendix section, you should include any additional information that supports the main content of your plan. This may include financial statements, market research data, legal documents, and other relevant information.

• Include a table of contents for the appendix section to make it easy for readers to find specific information.
• Include financial statements such as income statements, balance sheets, and cash flow statements. These should be up-to-date and show your financial projections for at least the first three years of your business.
• Provide market research data, such as statistics on the size of the staffing industry, consumer demographics, and trends in the industry.
• Include any legal documents such as permits, licenses, and contracts.
• Provide any additional documentation related to your business plans, such as marketing materials, product brochures, and operational procedures.
• Use clear headings and labels for each section of the appendix so that readers can easily find the information they need.

Remember, the appendix section of your employment agency business should only include relevant and important information that supports the main content of your plan.

Download a sample staffing agency business plan

Need help writing your business plan from scratch? Here you go; download our free staffing agency business plan pdf to start.

It’s a modern business plan template specifically designed for your staffing agency business. Use the example business plan as a guide for writing your own.

The Quickest Way to turn a Business Idea into a Business Plan

Fill-in-the-blanks and automatic financials make it easy.

This staffing agency business plan sample will provide an idea for writing a successful staffing agency business plan, including all the essential components of your business.

After this, if you are still confused about how to write an investment-ready staffing business plan to impress your audience, then download our staffing agency business plan pdf.

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Frequently Asked Questions

Why do you need a staffing agency business plan.

A business plan is an essential tool for anyone looking to start or run a successful recruitment business. It helps to get clarity in your business, secures funding, and identifies potential challenges while starting and growing your staffing agency.

Overall, a well-written plan can help you make informed decisions, which can contribute to the long-term success of your agency.

How to get funding for your staffing agency business plan?

There are several ways to get funding for your staffing business, but one of the most efficient and speedy funding options is self-funding. Other options for funding are

• Bank loan – You may apply for a loan in government or private banks.
• Small Business Administration (SBA) loan – SBA loans and schemes are available at affordable interest rates, so check the eligibility criteria first before you can apply for it.
• Crowdfunding – The process of supporting a project or business by getting a lot of people to invest in your staffing agency, usually online.
• Angel investors – Getting funds from angel investors is one of the most sought options for startups.
• Venture capital – Venture capitalists will invest in your business in exchange for a percentage of shares, so this funding option is also viable.

Apart from all these options, there are small business grants available, check for the same in your location and you can apply for it.

Where to find business plan writers for your staffing agency business?

There are many business plan writers available, but no one knows your business and idea better than you, so we recommend you write your employment agency business plan and outline your vision as you have in your mind

What is the easiest way to write your staffing agency business plan?

A lot of research is necessary for writing a business plan, but you can write your plan most efficiently with the help of any staffing agency business example and edit it as per your need. You can also quickly finish your plan in just a few hours or less with the help of our business plan software.

About the Author

Upmetrics Team

Upmetrics is the #1 business planning software that helps entrepreneurs and business owners create investment-ready business plans using AI. We regularly share business planning insights on our blog. Check out the Upmetrics blog for such interesting reads. Read more

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Recruitment Agency Business Plan: How to Write One

Launching a recruitment agency demands a solid foundation, and crafting a detailed business plan is the cornerstone. Get started on your recruitment agency business plan with our guide. We will walk you through all the details.

The United States, Japan, and the United Kingdom dominated the recruitment and staffing industry in 2022, generating 55% of its revenue. Global revenue for the staffing industry jumped 4% to $648 billion, according to a report from Staffing Industry Analysts . The current job market, characterized by rapid technological advancements and shifting workforce demographics, is creating a market for flexible staffing solutions.

To cut costs and improve the efficiency of human resources, businesses are turning to staffing and recruitment agencies to secure talent. The rise of the gig economy and the preference for contract or temporary positions among workers seeking greater work-life balance is helping fuel the industry’s growth. Nearly 23% of working Americans also have a side hustle, according to a recent study by Pymnts .

Your Business Plan’s Key Elements

Whether you are a seasoned professional in the staffing world or a newcomer to the field, you need to start with a recruitment agency business plan. Creating a business plan requires gathering a significant amount of information. Start by researching the staffing industry, including market size, growth trends, and regulatory considerations. Network with industry professionals, attend relevant conferences, and utilize online resources to gain knowledge. Financial projections should be based on realistic market assumptions and comparable business models.

Keep in mind you will need a business plan at various stages of your business journey. Initially, it will guide your startup phase, helping you to secure funding and establish your business structure. As your agency grows, revisiting your plan can help you to scale your operations and enter new markets.

A comprehensive startup business plan for a recruitment agency should include:

• Executive summary: Start with a clear and concise overview of your business — your elevator pitch. Highlight your business goals, mission statement, and the services you plan to offer.
• Market analysis: Conduct thorough research on the staffing industry, focusing on your niche. Identify your target market, analyze your competitors, and outline the trends and challenges in the industry to understand your unique selling proposition.
• Services: Detail the types of staffing services you plan to provide. Whether it is temporary staffing, permanent placement, or executive search, be clear about your offerings, the verticals you will serve, and how they meet the needs of your target market.
• Marketing plan: Outline how you will attract clients and candidates with your marketing plan and sales strategy. Identify the channels you can use to build your brand and reach your audience.
• Operations: Describe the day-to-day operations of your agency, including the recruitment process, the technology, the tools you need, and how you plan to maintain quality and compliance.
• Financial plan: Make detailed financial projections, such as startup costs, revenue forecasts, and a break-even analysis to understand the financial viability of your business.
• Management: Highlight your team’s expertise and the organizational structure of your agency. If you start solo, outline your experience and any external support you can leverage.

Partnering With AtWork: A Shorter Path to Your Goal

If you are considering opening a recruitment agency, partnering with AtWork to start a staffing franchise can significantly streamline the startup process. By joining forces with a proven brand, you can cut down on startup costs and bypass many of the hurdles of starting from scratch. AtWork’s recruitment agency business plan also allows you to take advantage of the Work Opportunity Tax Credit (WOTC) to lower your operational costs.

AtWork provides comprehensive knowledge, training, and tools essential for launching your staffing business. As a franchise owner, you get in-depth training on running a successful staffing agency, including sales, operations, and compliance. AtWork has state-of-the-art technology and operational tools to simplify day-to-day management, and marketing campaigns to effectively promote your agency and attract clients and candidates. Its support staff also handles all your payroll, allowing you to concentrate on scaling the business.

Learn More About AtWork

Get started to learn more about partnering with AtWork to launch a business in the staffing industry.

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Business Plan Template for Recruitment

• Great for beginners
• Ready-to-use, fully customizable Subcategory
• Get started in seconds

Recruitment agencies and talent acquisition businesses know that success in the competitive industry hinges on strategic planning. That's where ClickUp's Business Plan Template for Recruitment comes in!

This comprehensive template allows you to outline your recruitment strategies, set objectives, define your target market, project your finances, and establish operational processes. With ClickUp's Business Plan Template for Recruitment, you'll have a roadmap to guide your growth and ensure your business thrives in the ever-changing recruitment landscape.

Don't leave your success to chance. Get started with ClickUp's Business Plan Template for Recruitment today and take your talent acquisition business to new heights!

Business Plan Template for Recruitment Benefits

A business plan template for recruitment offers numerous benefits to recruitment agencies and businesses in the talent acquisition field, including:

• Streamlining operations and ensuring consistency in recruitment processes
• Setting clear objectives and goals for the agency's growth and success
• Identifying target markets and defining strategies to reach and attract top talent
• Creating a financial roadmap, including revenue projections and expense management
• Providing a comprehensive overview of the agency's competitive landscape and positioning
• Guiding decision-making and resource allocation to achieve long-term sustainability and profitability.

Main Elements of Recruitment Business Plan Template

Create a winning business plan for your recruitment agency with ClickUp's Business Plan Template for Recruitment. This comprehensive template includes:

• Custom Statuses: Track progress with statuses like Complete, In Progress, Needs Revision, and To Do, ensuring every task is accounted for in your recruitment business plan.
• Custom Fields: Utilize custom fields such as Reference, Approved, and Section to add relevant information and organize your recruitment strategies, financial projections, and operational processes.
• Custom Views: Access different views like Topics, Status, Timeline, Business Plan, and Getting Started Guide to get a comprehensive overview of your recruitment business plan and easily navigate through different sections.

With ClickUp's Business Plan Template for Recruitment, you can streamline your planning process and set your recruitment agency up for success.

How To Use Business Plan Template for Recruitment

If you're looking to create a business plan for recruitment, ClickUp has a template that can help you get started. Here are four steps to effectively use the Business Plan Template for Recruitment:

1. Define your business objectives

Before you start creating your business plan, clearly define your objectives and goals for your recruitment agency. Are you looking to specialize in a particular industry? Do you want to focus on temporary or permanent placements? Understanding your business objectives will help shape the rest of your plan.

Use Goals in ClickUp to define and track your business objectives for recruitment.

2. Identify your target market

Next, identify your target market and the types of clients and candidates you want to attract. Consider factors such as industries, job levels, geographic locations, and any specialized niches you want to focus on. Understanding your target market will help you tailor your recruitment strategies and services accordingly.

Use the Board view in ClickUp to create columns for different target markets and track your progress in attracting clients and candidates.

3. Develop your marketing and recruitment strategies

Once you have identified your target market, it's time to develop your marketing and recruitment strategies. Consider the channels and platforms you will use to promote your agency, such as social media, job boards, and networking events. Determine how you will attract candidates and clients, and outline your approach to sourcing, screening, and placing candidates.

Use Automations in ClickUp to streamline your recruitment processes and save time on repetitive tasks such as sending follow-up emails or scheduling interviews.

4. Create a financial plan

Lastly, create a financial plan for your recruitment agency. This should include your projected revenue, expenses, and profitability. Consider factors such as fees, commissions, and any additional services you plan to offer. It's also important to set financial goals and milestones to track your progress and evaluate the success of your business.

Use the Gantt chart in ClickUp to create a timeline for your financial goals and milestones, and track your revenue and expenses over time.

By following these steps and using the Business Plan Template for Recruitment in ClickUp, you can create a comprehensive and effective business plan for your recruitment agency. Good luck with your venture!

Get Started with ClickUp’s Business Plan Template for Recruitment

Recruitment agencies and businesses can use the ClickUp Business Plan Template for Recruitment to create a comprehensive roadmap for their growth and success in the competitive recruitment industry.

First, hit “Add Template” to sign up for ClickUp and add the template to your Workspace. Make sure you designate which Space or location in your Workspace you’d like this template applied.

Next, invite relevant members or guests to your Workspace to start collaborating.

Now you can take advantage of the full potential of this template to create your recruitment business plan:

• Use the Topics View to outline and organize the different sections of your business plan, such as objectives, target market, financial projections, and operational processes
• The Status View will help you track the progress of each section, with statuses like Complete, In Progress, Needs Revision, and To Do
• The Timeline View will give you a visual representation of your business plan's timeline, allowing you to set deadlines and milestones
• The Business Plan View provides a comprehensive overview of your entire recruitment business plan, allowing you to easily navigate and review all sections
• The Getting Started Guide View will provide step-by-step instructions and tips on how to use the template effectively
• Utilize the custom fields Reference, Approved, and Section to add additional information and categorize different aspects of your business plan
• Update statuses and custom fields as you progress through each section, ensuring that all team members are aware of the current status and any required revisions
• Regularly review and analyze your business plan to ensure that it aligns with your recruitment agency's goals and objectives
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How to write a business plan for your recruitment agency.

Starting a recruitment agency is a great idea because it provides a valuable service to employers and job seekers alike.

It is a great way to bridge the gap between the two and facilitate successful career placements.

But, first thing first, you need a business plan.

A business plan is essential for any new project, as it allows you to clearly define your goals, objectives, and strategies for success. It also provides a roadmap for the future, helping to ensure that your project is successful in the long term.

In short, a good business plan will help make sure your recruitment agency is profitable .

What information should you put into the business plan of a recruitment agency? What's the basic outline for the structure? What financial metrics should be included? What steps should I follow to write a business plan efficiently?

Stay with us: we'll tackle all these questions!

One last thing, you don't have to start your business plan from scratch.

Feel free to download our detailed business plan for a recruitment agency and customize it for your business.

Mapping out a business plan for a recruitment agency

Do you need to develop a business plan for your recruitment agency.

Yes, you need to develop a business plan for your recruitment agency.

Crafting a well-structured business plan will help you to:

• get familiar with the recruitment agency market
• be aware of new consumertrends and apply them to your project
• recognize profitability factors for a recruitment agency
• understand the hiring needs, job requirements, and talent preferences of client companies
• come up with a winning value proposition for your staffing services agency
• identify potential competitive threats
• find distinctive competitive edges for your recruitment agency
• find a business model that delivers consistent positive financial outcomes
• formulate an airtight strategy to maximize business growth
• evaluate potential risks specific to a recruitment agency, including client satisfaction, candidate vetting, and legal compliance

Our team has created a business plan for a recruitment agency that is designed to make it easier for you to achieve all the elements listed.

How to organize a business plan for a recruitment agency?

Inside a business plan, you'll find a lot of important information and details. It must be presented in a structured format, to make easy to read and digest.

When we built and designed our business plan for a recruitment agency , we made sure to structure it propertly.

We've categorized it into 5 sections (Opportunity, Project, Market Research, Strategy and Finances).

1. Market Opportunity

The section number one is titled "Market Opportunity."

In this section, you will find valuable data and insights about the recruitment agency, helping you understand the market landscape and assist companies in finding and hiring top talent.

We constantly update all the data there.

2. Project Presentation

The second part is dedicated to the "Project" of your recruitment agency. Here, you can outline the industries you specialize in, recruitment services offered, candidate sourcing strategies, screening and selection processes, client partnerships, and the unique value proposition that connects top talent with the right job opportunities.

Also, provide a self-introduction at the end of this section.

Discuss your expertise in talent acquisition, your range of recruitment services, and how you plan to provide comprehensive and tailored staffing solutions to clients. Highlight your industry knowledge, your network of professionals, and your dedication to matching the right talent with the right opportunities through your recruitment agency.

We drafted some language for you in our business plan. Adjust it to suit your idea perfectly.

3. Market Research

Then, there is the "Market Research" section.

In this section, you will find a detailed market segmentation analysis for your recruitment agency.

It includes a presentation of other recruitment agencies in the area that will be competing with you. Your agency's expertise in talent acquisition and competitive advantages are also highlighted. A customized SWOT analysis is included.

4. Strategy

The "Strategy" section outlines a comprehensive 3-year action plan, detailing the initiatives and steps needed to transform your recruitment agency into a highly profitable endeavor.

Additionally, there's a marketing strategy, a risk management strategy, and a Business Model Canvas available in this section.

5. Finances

In the end, you'll find the "Finances" section, which provides a comprehensive overview of the financials for your project.

How to make an Executive Summary for a recruitment agency?

The Executive Summary serves as an introduction to the business plan for your recruitment agency.

Keep it concise and ensure it fits within 2 pages. Highlight only the necessary details.

When you present your business plan to investors, this is the section they will read first. It needs to grab their attention and make them want to explore the rest of the plan.

In the Executive Summary of your recruitment agency, address the following queries: what services does your recruitment agency offer? who is your target market? are there other recruitment agencies in the industry? what sets you apart from them? what funding do you require?

How to do the market analysis for a recruitment agency?

Analyzing the market for your recruitment agency allows you to gain insights into factors such as client demands for talent acquisition, competition within the recruitment industry, and emerging trends in HR and staffing.

By conducting a thorough market study, a recruitment agency can understand client hiring needs, offer effective recruitment solutions, optimize pricing strategies, and execute targeted marketing campaigns, ultimately leading to a larger client base, increased job placements, and a prominent position in the recruitment industry.

Here is what you can expect to find in the "Market Research" section of our business plan for a recruitment agency :

• market trends and data about recruitment agencies, including job market analysis, talent acquisition strategies, and industry-specific hiring trends
• a list of potential customer segments for a recruitment agency
• the competitive comparison
• the potential competitive advantages for a recruitment agency

The key points of the business plan for a recruitment agency

What's the business model of a recruitment agency, business model of a recruitment agency.

A recruitment agency's business model revolves around connecting employers with qualified candidates for job openings. Revenue is generated through fees or commissions based on successful placements.

The business model focuses on understanding clients' hiring needs, conducting candidate sourcing and screening, effective marketing to attract employers and job seekers, and building strong client and candidate relationships based on trust and expertise in recruitment.

Success depends on building a robust candidate database, delivering suitable talent for job openings, fostering positive client and candidate experiences and recommendations, and continuously adapting to changing recruitment methods and job market dynamics.

Business model ≠ Business plan

Make sure you differentiate between "business plan" and "business model."

A business model describes how a company generates income and operates successfully.

In a business plan, you articulate your business model through a framework known as the Business Model Canvas.

Rest assured, there is a Business Model Canvas (already completed) in our business plan for a recruitment agency .

How do you identify the market segments of a recruitment agency?

Market segmentation for your recording studio involves dividing your potential clients into different groups based on their recording needs, music genres, and preferences.

These categories may include factors such as music artists, voice-over artists, podcasters, or clients seeking specific recording services or equipment (e.g., vocal recording, sound mixing, podcast production).

By segmenting your market, you can offer specialized recording services and facilities that cater to each segment's specific requirements. For example, you might focus on music artists and provide state-of-the-art recording studios equipped with instruments and production tools for music production, offer professional voice-over recording services for clients in need of high-quality voice recordings for commercials, audiobooks, or animations, specialize in podcast production and provide podcasters with dedicated recording spaces and podcast editing services, or focus on specific recording services or equipment such as vocal recording, sound mixing, or audio mastering.

Market segmentation allows you to effectively target your marketing efforts, communicate the capabilities and technical expertise of your recording studio, and provide a creative and professional recording environment that meets the unique needs and preferences of each client segment.

In the business plan for a recruitment agency , you will find a comprehensive market segmentation that will help you better understand your potential customers.

How to conduct a competitor analysis for a recruitment agency?

Without surprise, you won't be the only recruitment agency in your market. There will be other agencies offering staffing and talent acquisition services to organizations.

Understanding your competitors' strengths and weaknesses is critical when developing your business plan.

Identify their weaknesses (such as limited industry connections, inadequate candidate screening, or poor client communication).

Why is it important to address these elements? Because these weaknesses can impact the effectiveness of recruitment agency services.

By focusing on these areas, you can offer a wide network of qualified candidates, provide efficient and thorough recruitment processes, and deliver personalized and attentive client support, positioning your recruitment agency as a trusted and preferred partner for businesses seeking top talent and successful staffing solutions.

It's what we call competitive advantages—develop them to make your business stand out.

Here are some examples of competitive advantages for a staffing agency: extensive network of qualified candidates, personalized recruitment solutions, timely placements.

How to draft a SWOT analysis for a staffing agency?

A SWOT analysis can help identify the strengths, weaknesses, opportunities, and threats of a recruitment agency, enabling informed decision-making and increased success.

As you can guess, there is indeed a completed and editable SWOT matrix in our business plan for a recruitment agency

The strengths for a recruitment agency

When we talk about the "S" in SWOT, we mean Strengths, which are the project's internal capabilities or unique strengths.

For a recruitment agency, possible strengths could include an experienced team, a strong network of contacts, an extensive database of candidates, and a comprehensive understanding of the recruitment market.

The weaknesses for a recruitment agency

W stands for Weaknesses, referring to the project's areas or aspects that have room for improvement.

For a recruitment agency, potential weaknesses include difficulty in finding suitable candidates, lack of access to a large pool of qualified applicants, high cost of advertising to attract talent, and potential clients not trusting the agency.

The opportunities for a recruitment agency

The letter "O" in SWOT signifies Opportunities, highlighting the favorable conditions or chances for the project's progress.

In the case of a recruitment agency, potential opportunities include providing executive search services, offering temporary staffing solutions, providing online job postings, and providing career coaching services.

The threats for a recruitment agency

When we use the "T" in SWOT, we're referring to Threats, which are the external risks or challenges that the project may encounter.

How to develop a marketing plan for a staffing agency?

A marketing strategy is a key factor in acquiring customers and increasing revenue, so include it in your business plan.

A well-crafted marketing strategy will attract companies and job seekers to your recruitment agency, emphasizing your expertise in matching the right talent with the right job.

Companies won't hire your recruitment agency without effective marketing; showcasing your talent pool and personalized approach is crucial.

Are you utilizing marketing tactics to attract clients to your recruitment agency? Consider building strong relationships with local businesses and job seekers, offering specialized recruitment services, and utilizing digital marketing strategies to showcase your expertise in the industry.

Don't let a lack of ideas for your project's marketing strategy discourage you.

How to build a solid financial plan for a staffing agency?

A solid business plan must include financial data to provide an accurate assessment of the business's potential success.

Obviously, you should estimate the projected revenue for your recruitment agency.

It's crucial for this revenue forecast to be clear and straightforward.

Our financial plan for a recruitment agency is easy to use and includes built-in checks to help you identify and correct any assumptions, ensuring you create reliable projections with confidence.

Without a doubt, you'll need to come up with a basic budget for starting your recruitment agency. Make sure to include every expense (by the way, they are all listed in the financial plan we've made).

The break-even analysis is central in the financial plan as it will tell you whether your recruitment agency will generate profits or not.

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Recruitment Business Plan Template: From Basics to Advanced

A Recruitment Business Plan serves as a blueprint for establishing a successful agency. It outlines strategies for market analysis, client acquisition, and operational processes.

Crafting a recruitment business plan requires a strategic approach that blends fundamental business principles with industry-specific insights. This framework not only helps to set clear objectives but also equips you with the necessary tools to navigate the competitive landscape of recruitment.

The introduction to creating an effective recruitment business plan should consider the unique challenges and opportunities within the recruitment industry. Entrepreneurs must analyze market trends, define target sectors, and hone their value propositions to stand out. A robust plan also emphasizes on developing solid relationships with both candidates and employers, ensuring a steady flow of placements. Emphasis on technological integration and compliance with legal standards is paramount. By focusing on these elements, recruitment startups can lay a foundation for sustained growth and profitability.

The Recruitment Business Landscape

Exploring the recruitment business landscape offers insights into a rapidly evolving industry. Understanding the landscape prepares businesses to adapt and thrive. Let’s delve into the current trends and competitor strategies shaping the recruitment sector.

Current Trends In Recruitment

• Technology Integration : Automation tools streamline the recruiting process.
• Data-Driven Decisions : Analytics guide recruitment strategies.
• Candidate Experience : Smooth interfaces attract top talent.
• Remote Hiring : Virtual interviews are the new norm.
• Diversity Focus : Inclusive strategies win diverse candidates.

Analyzing Competitor Strategies

Studying rivals reveals unique selling points and areas for improvement. Focus on differentiators that set your firm apart.

Crafting Your Value Proposition

When you dive into the world of recruitment, your value proposition is a beacon that attracts clients. It outlines what sets you apart. In this vibrant sector, standing out is not just a goal, it’s a necessity. Let’s explore how to tailor your value proposition with precision and impact.

Identifying Your Niche

Knowing your niche defines your recruitment business roadmap. It shapes your services and targets. Your niche could be an industry, a job level, or a specific type of candidate. Once pinpointed, it guides your value proposition.

• Research the Market: Start with identifying gaps in the recruitment market.
• Understand Your Expertise: Reflect on areas where you have the most knowledge and connections.
• Pinpoint Your Audience: Decide who your services will benefit the most.

Differentiation In The Recruitment Space

Making your mark in recruitment means being different. What you offer that others don’t is your key to success. This could be your method, your network, or your knowledge. Make sure clients know why you are the go-to recruiter.

Blend your expertise, market needs, and the innovative approach to create a value proposition that shines.

Building The Framework

Crafting a robust business plan serves as the skeleton for all recruitment businesses. Whether a startup launches from a bustling city office or a cozy home desk, the framework remains vital. Laying this groundwork pushes the business closer to success from day one. Let’s delve into the cornerstone elements of the framework: business objectives and financial planning .

Setting Clear Business Objectives

A recruitment firm must know its destination before plotting the course. Clear objectives guide the direction and measure progress. It’s crucial to define what the agency aims to achieve. Goals might include niche market dominance, a set number of placements, or a specific revenue target within a year. Each objective should follow the SMART criteria —Specific, Measurable, Achievable, Relevant, and Time-bound. This clarity propels the business forward with purpose and precision.

• Specify the target sectors or industries.
• Establish milestone metrics to track achievements.
• Create actionable steps with timelines for each goal.

Financial Planning For Recruitment Startups

A solid financial foundation uplifts recruitment startups. Financial planning demands attention to start-up costs, operating expenses, and cash flow management. Budgeting wisely prepares the business for various market conditions.

Adequate financial resources ensure smooth operations. Plan for both expected costs and unforeseen expenses. Regular financial reviews help identify areas needing adjustment.

• Determine initial capital and sources.
• Map out monthly budget and expenditure.
• Ensure a safety net for unplanned scenarios.

Marketing And Branding Essentials

Your recruitment business plan needs a strong foundation in marketing and branding. A memorable brand and strategic marketing can set you apart. Think of branding as your agency’s personality. It tells clients who you are. Marketing is how you communicate that personality to the world. To succeed, you’ll need a fine blend of both. Let’s dive into the essentials that will help your recruitment business shine.

Leveraging Social Media And Online Presence

Today, a strong online presence is non-negotiable. Social media is your gateway to reach millions. Your aim is to create engaging content that resonates with your audience. Use platforms like LinkedIn, Twitter, and Facebook.

Here’s how to make social media work for you:

• Showcase your company culture.
• Share success stories and testimonials.
• Engage with interactive polls and questions.
• Use targeted ads to reach the right people.

Monitor your campaigns. Use analytics to understand what works. Your online voice can attract the perfect clients and candidates.

Networking And Relationship Building

Strong relationships are the backbone of any recruitment business. They lead to referrals and repeat clients. Attend industry events and join associations. Be visible in your community.

Here’s a simple guide for effective networking:

• Create a list of key events in your sector.
• Attend regularly and be approachable.
• Follow up with new contacts promptly.

Relationships take time. Always follow through. Keep in touch with clients and candidates. Offer value in every interaction. The trust you build will become the hallmark of your brand.

Operational Strategies For Success

An efficient recruitment business hinges on operational excellence. Success stems from the right strategies deployed in daily operations. Let’s uncover key operational strategies that can transform the way a recruitment business functions, leading to streamlined processes and better use of technology.

Streamlining The Recruitment Process

Efficient recruitment drives business growth. A streamlined process attracts top talent while saving time and resources. Consider the following strategies:

• Define clear job roles: Detailed descriptions ensure the right fit.
• Robust candidate sourcing: Use multiple channels for a wider reach.
• Effective communication: Keep candidates informed at each step.
• Structured interviews: Consistency in questioning improves fairness.
• Timely feedback: Quick response times show respect for applicants.
• Analytics-driven decisions: Use data to refine hiring practices.

Technology Integration And Automation

Embracing technology is not optional in today’s fast-paced recruitment world. It offers accuracy and speed unlike any other. Key tech strategies include:

• Applicant Tracking Systems (ATS): Automates candidate management.
• Customer Relationship Management (CRM) software: Streamlines client interactions.
• Automation tools: Schedules interviews and sends reminders.
• Social media platforms: Enhances employer branding and reach.
• AI-powered screening: Filters candidates effectively.
• Cloud storage: Securely manages candidate data.

These technologies not only simplify tasks but also create a more engaging experience for both candidates and clients.

Advanced Considerations

As your recruitment business matures, a robust plan needs to account for complex strategies. These advanced considerations ensure longevity and scalability. Below, explore how to effectively scale your business and adhere to key legal and ethical standards. Both aspects are critical for advanced planning and success.

Scaling Your Recruitment Business

To scale your recruitment business , you must strategize for growth. A clear plan outlines steps to expand services and reach. Begin with these points:

• Invest in advanced recruitment software for efficiency.
• Develop a marketing strategy to attract wider clientele.
• Consider niche diversification to meet specific market needs.
• Expand your team with skilled recruiters for larger operations.
• Automate routine tasks to focus on growth activities.

Chart a course for your business to grow. Use data-driven decisions. Keep an eye on industry trends and pivot as necessary.

Legal Compliance And Ethical Practices

A successful recruitment business adheres to legal compliance and ethical practices . This includes:

Engage a legal expert for a thorough review of your practices. Train your team regularly on these matters. Foster a culture of transparency. This builds trust with your clients and candidates.

Frequently Asked Questions

What is a recruitment business plan.

A recruitment business plan is a strategic outline for establishing and growing a recruitment agency. It defines business goals, strategies to achieve them, and the structure for operating the recruitment services effectively. It acts as a roadmap for success in the recruitment industry.

Why Do You Need A Recruitment Plan Template?

Using a recruitment plan template helps streamline the planning process and ensures all critical elements are covered. It saves time, outlines industry best practices, and provides a clear structure that can be customized to specific business needs and targets.

What Are Key Elements Of A Recruitment Business Plan?

Key elements include an executive summary, company description, market analysis, organizational structure, client acquisition strategies, recruitment tactics, financial projections , and an operational plan. These components work together to form a comprehensive guide for launching and running a recruitment agency.

How Do Advanced Strategies Enhance Recruitment Plans?

Advanced strategies in a recruitment plan involve leveraging data analytics, innovative sourcing methods, digital marketing techniques, and strong candidate engagement practices. They enhance efficiency and competitiveness by identifying high-quality prospects and minimizing time-to-hire.

Crafting a solid recruitment business plan paves the way for success. This guide offers a roadmap, from the fundamental elements to sophisticated strategies. Implement these steps, track your progress, and adapt as needed. Secure your agency’s future by laying a strong foundation today.

Let ambition meet preparation and watch your business flourish.

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How to Start a Profitable Recruitment Business [11 Steps]

By Nick Cotter Updated Feb 02, 2024

Business Steps:

1. perform market analysis., 2. draft a recruitment business plan., 3. develop a recruitment brand., 4. formalize your business registration., 5. acquire necessary licenses and permits for recruitment., 6. open a business bank account and secure funding as needed., 7. set pricing for recruitment services., 8. acquire recruitment equipment and supplies., 9. obtain business insurance for recruitment, if required., 10. begin marketing your recruitment services., 11. expand your recruitment business..

Before diving into the recruitment industry, it's crucial to conduct a comprehensive market analysis to understand the competitive landscape and identify potential opportunities. This initial step is foundational in strategizing for your business's success. Below are key points to guide you through the process:

• Analyze the current demand for recruitment services in your target market, considering factors such as industry growth, employment rates, and sector-specific needs.
• Identify your main competitors, their market share, and the services they offer. Look for gaps in their service delivery that you could fill with your business.
• Research the latest trends in recruitment, such as the use of artificial intelligence, remote hiring practices, and the increasing importance of employer branding.
• Understand the regulatory environment of the recruitment industry in your region, including any licenses required and compliance with employment laws.
• Survey potential clients to gather insights on their hiring challenges and preferences, which can help tailor your services to meet their needs.
• Consider the economic climate and its impact on hiring, as this can affect the demand for recruitment services.

Are recruitment businesses profitable?

Yes, recruitment businesses can be profitable. The profitability of a recruitment business depends on a variety of factors such as the size and scope of the business, the demand for its services, the quality of its staff, and its marketing strategy. Additionally, factors such as the local job market and economy can impact profitability.

Starting a recruitment business requires a well-thought-out plan to establish a solid foundation and guide your company towards success. Your recruitment business plan should detail your strategy for sourcing candidates, engaging clients, and differentiating your services in the competitive marketplace. Here are some essential components to consider when drafting your recruitment business plan:

• Executive Summary: Present an overview of your business, including your mission statement, core values, and the objectives you aim to achieve.
• Market Analysis: Research and outline the current recruitment landscape, identify your target market, and analyze your competition.
• Services Offered: Define the types of recruitment services you will provide, such as temporary, permanent, or niche sector recruitment.
• Marketing and Sales Strategy: Describe how you plan to attract both clients and candidates, including your branding, promotional tactics, and sales approach.
• Operational Plan: Detail the day-to-day operations, from candidate sourcing methods to client relationship management systems.
• Financial Projections: Provide realistic financial forecasts, including startup costs, pricing models, revenue streams, and break-even analysis.
• Risk Assessment: Identify potential risks and challenges your business may face and outline strategies to mitigate them.

How does a recruitment business make money?

Recruitment businesses make money by charging a commission fee for each successful recruitment they lead. They typically specialize in a particular industry and will target their services toward that industry's employers and job seekers. For example, a business that provides recruitment services for an air duct cleaning business may target HVAC technicians, sales representatives, and office administrators who have prior experience in the sector. Additionally, they may offer consulting services such as helping employers develop job descriptions to attract qualified applicants for their open positions.

Developing a strong recruitment brand is crucial for standing out in a competitive market and attracting both clients and candidates. Your brand should reflect your company's values, culture, and unique selling propositions. Here are some key strategies to help you build a compelling recruitment brand:

• Define your brand's mission and vision to align with the core values and goals that differentiate your services from competitors.
• Identify your target audience and tailor your brand's messaging to resonate with the needs and preferences of both clients and job seekers.
• Create a professional and memorable logo and visual identity that will be consistently used across all marketing materials and platforms.
• Develop a brand voice and content strategy that communicates your expertise and thought leadership in the recruitment industry.
• Engage with your audience through social media, blogs, and email marketing to build relationships and establish trust.
• Collect and showcase testimonials and case studies from satisfied clients and placed candidates to provide social proof of your brand's success.
• Ensure that your website and all branding materials are clear, informative, and reflect the quality services you provide.

How to come up with a name for your recruitment business?

Coming up with a name for your recruitment business can be a daunting task. It's important to create a name that reflects the values and mission of your business, and that will stick in the minds of potential clients. Brainstorming is a great way to start - getting creative and coming up with all sorts of different ideas is key here. Once you've generated some ideas, narrow down the list and try to combine words or merge two concepts together to come up with something unique. Finally, make sure to research whether the name you have chosen is available in terms of domain name and trademark registration.

Starting a recruitment business requires not only a strong understanding of the job market but also formalizing your business registration to operate legally and professionally. This step is crucial as it establishes your business's legal structure, tax obligations, and credibility in the marketplace. Follow these key points to ensure your recruitment business is properly registered:

• Choose a legal structure for your business (e.g., sole proprietorship, partnership, LLC, or corporation) based on your needs for liability protection, tax benefits, and business scalability.
• Register your business name with the appropriate state authority, ensuring it is unique and not already in use. This may involve filing a 'Doing Business As' (DBA) if operating under a name different from your own.
• Obtain an Employer Identification Number (EIN) from the IRS for tax purposes, which is also necessary if you plan to hire employees.
• Apply for any necessary business licenses or permits as required by your state or local government to operate a recruitment agency.
• Check if there are specific industry regulations or certifications needed in your region to run a recruitment business and comply accordingly.
• Register for state and local taxes to ensure you can legally operate and are set up to pay any applicable sales, payroll, or business taxes.

Resources to help get you started:

Explore indispensable materials designed for recruitment entrepreneurs, featuring key insights on market trends, operational best practices, and strategic growth advice:

• Recruitment Agency Expo Blog: Offers a wealth of articles on industry trends, business growth strategies, and operational efficiency for recruitment professionals. Visit here .
• ERE.net: A leading online portal for recruitment and HR professionals, providing in-depth reports, trend analysis, and strategic guidance. Access here .
• Recruiter.com Magazine: This digital publication features expert advice, interviews with industry leaders, and case studies on successful recruitment strategies. Read more .
• The Global Recruiter: Offers international insights into the recruitment industry, including market trends, technological innovations, and business models that drive success. Explore here .
• Staffing Industry Analysts (SIA): Provides comprehensive research, data reports, and global insights into the staffing and recruitment industry. Discover more .

Starting a recruitment business requires compliance with legal regulations to ensure smooth operations. One crucial part of this process is obtaining the necessary licenses and permits. Here's a guide to help you through Step 5 of setting up your recruitment business:

• Research specific industry regulations: Different jurisdictions may require unique licenses for recruitment agencies. Contact your local government or a business attorney to understand the specific requirements in your area.
• Business License: Apply for a general business license to legally operate your recruitment firm in your city or county.
• Employment Agency License: Many regions require a specific employment agency license. This often involves an application process and sometimes a fee.
• State Permits: Check if your state has additional permits for operating a recruitment business. This can often be found on the state's Department of Labor website or equivalent.
• Specialized Licenses: If you're recruiting in a specialized field (e.g., healthcare, legal), you may need industry-specific licenses. Research thoroughly to ensure compliance.
• Tax Registration: Register for an Employer Identification Number (EIN) for tax purposes, and understand any sales tax obligations that may apply to your services.

What licenses and permits are needed to run a recruitment business?

In order to run a recruitment business, you will likely need a business license from your local government, depending on the regulations in your city or state. Additionally, you may need specific permits depending on the state you are operating in and what services you are offering. For example, if you plan to offer headhunting services or temporary staff leasing, you may need additional permits.

Setting up a business bank account and securing the necessary funding are crucial steps in establishing a solid financial foundation for your recruitment business. It is essential to keep your business finances separate from personal funds to maintain clear financial records and facilitate business growth. Here are some tips to guide you through this process:

• Research different banks and their offerings for business accounts, focusing on fees, services, and any minimum balance requirements.
• Prepare the required documentation, such as your business registration details, Employer Identification Number (EIN), and personal identification to open a business bank account.
• Consider the type of account that best suits your business needs, whether it's a checking account, savings account, or both.
• Explore various funding options, including business loans, lines of credit, venture capital, angel investors, or crowdfunding, depending on your business plan and financial projections.
• Create a compelling pitch and a detailed business plan when approaching potential lenders or investors to secure funding.
• Be mindful of the terms and conditions attached to any funding you accept, ensuring they align with your business goals and repayment ability.

Setting the right pricing for recruitment services is a critical step in ensuring the success of your recruitment business. It involves balancing your need to be competitive in the market with the need to cover your costs and achieve a healthy profit margin. Here are some guidelines to help you set your pricing:

• Analyze your costs: Determine all costs associated with your recruitment services, including salaries, marketing, technology, office expenses, and any other overheads.
• Research the market: Look at what competitors are charging for similar services to establish a benchmark for your own pricing.
• Value-based pricing: Consider the value you bring to your clients, such as the quality of candidates or the speed of placement, and price accordingly.
• Flexible pricing models: Offer different pricing structures, such as contingency fees, retainer models, or flat rates to accommodate various client needs.
• Transparent pricing: Ensure your pricing structure is clear and understandable to avoid any confusion or mistrust with clients.
• Review and adjust: Regularly review your pricing strategy to ensure it remains competitive and reflects any changes in your service offerings or market conditions.

What does it cost to start a recruitment business?

Initiating a recruitment business can involve substantial financial commitment, the scale of which is significantly influenced by factors such as geographical location, market dynamics, and operational expenses, among others. Nonetheless, our extensive research and hands-on experience have revealed an estimated starting cost of approximately $$10,500 (first month) for launching such an business. Please note, not all of these costs may be necessary to start up your recruitment business.

Starting a recruitment business requires careful planning, especially when it comes to acquiring the right equipment and supplies. These tools are crucial for your day-to-day operations and will help you provide efficient and effective services to both clients and candidates. Here's a list of essential recruitment equipment and supplies you should consider:

• Computers and Software: Invest in high-performance computers and reliable recruitment software to manage client and candidate databases, as well as to track applications and communications.
• Communication Tools: Ensure you have professional phone systems and possibly video conferencing tools for remote interviews and client meetings.
• Office Supplies: Stock up on basic office supplies such as pens, notepads, file folders, and business cards for daily administrative tasks.
• Marketing Materials: Create high-quality brochures, flyers, and promotional items to market your services to potential clients.
• Website and Online Tools: Develop a professional website and utilize online job boards, social media, and other digital tools to reach a wider audience.
• Furniture and Fixtures: Acquire comfortable and functional office furniture to create a productive working environment for your team.

List of software, tools and supplies needed to start a recruitment business:

• Business plan software: approx. $50
• Recruitment software: approx. $1000/month
• Job postings: free or approx. $300/month (paid posting)
• Resume tracking and sorting tools: approx. $200/month
• Interview scheduling tools: approx. $5/month
• Access to career sites and job boards: approx. $200/month
• A website for your company: approx. $200/year
• Office supplies (desk, file cabinets, printer, etc.): approx. $400
• Advertising materials (business cards, flyers): approx. $50
• Networking materials (conferences and trade shows): varies

Starting a recruitment business involves managing various risks, from data breaches to professional liability. Obtaining the right business insurance is a critical step to protect your company, employees, and clients. Below is a guide to help you identify and secure the necessary insurance policies for your recruitment business:

• Professional Liability Insurance: Also known as Errors and Omissions (E&O) insurance, this policy protects against claims of negligence or harm due to professional services or advice provided.
• General Liability Insurance: This coverage is essential for any business, protecting against general claims of bodily injury or property damage to third parties.
• Workers' Compensation Insurance: If you have employees, most states require this insurance to cover medical costs and lost wages for work-related injuries and illnesses.
• Employment Practices Liability Insurance (EPLI): EPLI covers your business against claims from employees alleging discrimination, wrongful termination, harassment, and other employment-related issues.
• Data Breach/Cyber Liability Insurance: Given the sensitive nature of candidate data, this insurance can protect your business in the event of a data breach or cyber-attack.
• Directors and Officers Insurance: If your recruitment firm has a board of directors, this policy can protect the personal assets of the directors and officers in the event of legal action against them.

Marketing your recruitment services is vital to attract both companies looking to hire and job seekers. A well-crafted marketing strategy raises your visibility and establishes your reputation in the industry. Here are some key tactics to promote your recruitment business:

• Develop a Strong Brand Identity: Create a professional logo, business cards, and a website that reflects your business ethos and appeals to your target audience.
• Utilize Social Media: Leverage platforms like LinkedIn, Twitter, and Facebook to share industry insights, job postings, and success stories to engage with potential clients and candidates.
• Content Marketing: Publish articles, blog posts, and whitepapers that position you as a thought leader and provide value to your audience.
• Networking: Attend industry events, join professional groups, and connect with both employers and candidates to build relationships and spread word-of-mouth recommendations.
• Email Marketing: Send newsletters with market updates, new job listings, and company news to keep your audience informed and engaged.
• SEO and Online Advertising: Invest in search engine optimization for your website and consider pay-per-click advertising to increase online visibility for your services.
• Referral Program: Encourage referrals by offering incentives to clients or candidates who refer new business to your agency.

Once your recruitment business is established and you've fine-tuned your processes, it's time to scale up. Expanding your business requires strategic planning and execution. Here are some key steps to help you grow your recruitment agency:

• Explore Niche Markets: Identify and target specialized sectors where there is high demand for talent but low competition from other recruiters.
• Invest in Technology: Utilize advanced recruitment software to streamline operations, improve candidate sourcing, and enhance the overall efficiency of your business.
• Build a Strong Brand: Develop a marketing strategy that highlights your unique value proposition to differentiate your services from competitors.
• Expand Your Team: Hire additional recruiters and support staff to manage the increased workload and enter new markets with confidence.
• Form Strategic Partnerships: Partner with other businesses or recruitment agencies to share resources, referrals, and expand your reach.
• Diversify Your Services: Consider offering related services such as temporary staffing, executive search, or HR consulting to broaden your revenue streams.
• Focus on Client Retention: Implement client retention strategies to ensure repeat business and long-term relationships with your clients.

Sample Recruitment Business Plan

A sample recruitment business plan revolves around basically three words that describe your business philosophy. 3 min read updated on November 02, 2020

Sample Template for Starting a Recruitment Business

Business Niche

Creating a business plan involves making some decisions upfront. This means choosing a niche. By doing so, you'll be deciding the type of recruitment agency to start and the industry to serve.

Observing Competitors

Observe how your competitors' work provides an excellent opportunity and how its recruitment process works.

Gathering Experience

Starting a recruitment agency requires the experience that a recruiter uses to find the perfect match for a company's needs. Examples of what you need to know include:

• Knowledge of recruiting
• Recruitment strategies
• Personal skills

To acquire the type of experience necessary to operate a recruitment agency, it's recommended that you register with a reputable recruitment agency to experience, firsthand, some basic training in how an agency operates.

Building Skills

Keep in mind that part of a recruiter's job is testing the skills of potential candidates for jobs. So, your own skill level must be up to the task. It's equally important that you're able to recognize someone with potential even though they may not possess a lot of experience. You also need the insight to place the right person in the right position.

Evaluating Start-Up Costs

A recruitment agency isn't a cheap business venture to initially get started. You'll need a checklist of all things needed and the cost of each item. Things to include are staff payroll, marketing, insurance, and basic business expenses.

Researching Recruitment Laws

Study and become familiar with the recruitment laws in your state to ensure you aren't in violation. Each has guidelines that may include requirements for specific industries.

Obtain a Business License

Check with your local city and county office as well as the state to find out if or what type of business license is required to operate a recruitment agency. Obtain the license prior to opening for business.

Research Employment Laws

Laws guiding the rules of employment in each state are also in effect and something you must become familiar with. Examples include laws against discrimination and equal opportunity employment .

Business Location

Select a business location that's visible and easily accessible for clients and job applicants.

Register With Recruiters

Register with other companies as a recruiter. This is a way to bring in business should a company need to fill a position and contact you to fill the position.

Create a Marketing Plan

Create a marketing plan that outlines your business and its services. Make a list of businesses to contact and send a letter of introduction letting owners/managers of these businesses know about your company and what it has to offer. Also, follow up on each letter. Take advantage of the internet and newspapers by placing ads to highlight your business.

Create a Business Website

In today's fast-paced world, having a website is the standard operating procedure. A website is a gateway to advertising job vacancies. It's also a way for potential job seekers to provide resumes and conduct online interviews.

Hire Support Staff

A recruitment agency requires lots of paperwork, and you'll need to hire qualified staff to help with the tasks. This means bringing staff on board who have previous recruitment experience.

Contact insurance companies about purchasing liability insurance for your business.

Business Bank Account

Open a business account that's separate from your personal account for accepting payments for services from clients.

Equipment Necessary for a Recruiting Agency

The office space should include a reception area for greeting applicants and receiving applications. There should also be a conference room where you can conduct interviews. Necessary equipment includes:

• At least one computer.
• Testing software (i.e., printer(s), a fax machine, and a photocopier).
• Reliable internet service.
• Business cards.

Potential Recruiter Salary

On average, a recruitment consultant has the potential to earn between $65,000 and $75,000 annually. Charges for placing a candidate can range between 14 and 20 percent. Charges for your services may be based on a percentage of the candidate's first annual salary. The other option is charging a flat fee to the company you're recruiting for.

If you need help with a sample recruitment business plan, you can post your legal need on UpCounsel's marketplace. UpCounsel accepts only the top 5 percent of lawyers to its site. Lawyers on UpCounsel come from law schools such as Harvard Law and Yale Law and average 14 years of legal experience, including work with or on behalf of companies like Google, Menlo Ventures, and Airbnb.

Hire the top business lawyers and save up to 60% on legal fees

Content Approved by UpCounsel

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• Starting a Company
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• How Does a Business Operate: Everything You Need To Know
• How To Start a Contract Business
• LLC Checklist
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• How Long Does it Take to Get a Business License
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• Sample of a Good Business Plan

How to write a business plan for recruitment (template included)

• Published on September 23, 2022

Writing a business plan in recruitment has always played a crucial part in the interview process for a number of recruitment agencies around the world.

A comprehensive business plan can demonstrate a recruiter’s commitment, knowledge and commercial acumen. During COVID-19, these qualities are more important than ever and we’re seeing an increase in the number of agencies asking for such a document.

Arriving at an interview armed with a comprehensive business plan before you’re even asked will no doubt set yourself apart from other recruiters.

During these challenging times, managers will need to present a business case to leadership for budget approval in order to make a hire. Your business plan will be an important element of this business case. An impressive business plan could be the difference between landing an offer today, or falling into a pipeline of other candidates or even getting rejected.

In this article, we share a step-by-step guide outlining how to create a comprehensive business plan. We walk through the key components and include examples.

At the end of the article, you can download a free recruitment business plan template which is tailored towards the key components mentioned in this article.

A business plan should be packed full of relevant information but should be compressed and to the point. Avoid verbiage, stay specific and keep to 4 – 6 pages.

Introduction

Start with a title. Include your name and the company you’re writing the business plan for. A little personalisation will go a long way.

Underneath your title, outline the objective of your business plan and again personalise it towards the agency you’re interviewing with. While you have the hiring manager’s attention, this paragraph is an opportunity for you to demonstrate how comprehensive your business plan is. The aim is to capture the hiring manager’s interest so they continue to read each component:

“The objective of this business plan is to outline the value I can add to employer’s name .

In this business plan, I have highlighted my specialism, hiring activity in my market, my candidate and client strategies, my methodology, how I plan to recruit through COVID-19, my competition, my personal revenue projections over 12 months and lastly a suggested solution to reducing my cost during COVID-19.”

You can use this paragraph as a way to introduce your business plan verbally if you’ve called up a hiring manager. You can also use this extract in a cold email.

Your specialisation

This is a crucial positioning statement for your value-add. It sets out precisely where your network and experience lies and what you intend to bring to the table in your new role.

Your specialisation can be described clearly by outlining what roles you will specialise in, what industries you will target, what level of seniority you will focus on and what geographies you will cover.

For ease of reading, you can use each component as a title and use bullet points to expand upon your answers.

Taking a Technology recruiter as an example:

What roles I will specialise in:

• Product Management permanent roles
• UX/UI Design permanent roles

What industries I will target:

• Series A – C funded technology startups (high investment, high growth and high volume of roles)

What level of seniority I will focus on:

• Mid to senior (120 – 180k salary range for Product Managers, 140 – 200k salary range for Designers)

What geographies I will cover:

• Based in Singapore, the local market will be my core market
• Secondary markets include Jakarta, Bangkok and Kuala Lumpur due to less competition from recruiters and high volume of roles

Hiring activity trends

The hiring activity trends section provides an opportunity for you to demonstrate and portray your knowledge of the market.

The 3 important components of this section are: hiring activity over the past 3 years, hiring activity during COVID-19 and how you predict hiring activity to shift post-COVID-19 recovery.

Utilise your own knowledge of the market but back it up with research gained from reputable sources related to your market e.g. Tech in Asia, Tech Crunch, Channel News Asia, The Straits Times or The Financial Times.

You’ll want to cover how hiring activity has increased or decreased, what the drivers of growth are in your industry and what the threats and challenges are within your sector.

Candidate strategies

Moving on from market trends, this section indicates how you will acquire candidates for your desk. It offers an opportunity for you to demonstrate the experience you’ve learnt in candidate management from your previous firm, but also an opportunity for the employer to ensure that your approach aligns with theirs.

3 key components of this section include: how you will generate candidate leads, what challenges you expect to face and how you will overcome these challenges.

Taking a Front Office Banking & Financial Services recruiter as an example:

How do I plan to generate candidate leads:

• Direct headhunting using a LinkedIn Recruiter account, this costs approximately $X amount, the key benefits being access to a high volume of InMails and enhanced search capability. This has been the sourcing tool for 60% of my previous placements

Challenges I expect to face:

• In light of COVID-19, highly sought-after candidates may be risk-averse and may not see this as a good time to move jobs

How I will overcome these challenges:

• I will develop relationships with these candidates for the future but I will adjust my sourcing strategy accordingly by increasing volume of direct approaches. I will also focus on great talent who have been affected by COVID-19

Client strategies

A similar section to candidate strategies but geared towards clients. Arguably more important than candidate strategies during COVID-19 as the market is currently job-short – even in the good times, strong business development capabilities in recruiters are harder to find.

This section includes 6 key components including how you plan to onboard new clients, how you plan to sustain relationships with clients for repeat business, what industries your clients are in, the challenges you expect to face and how you will overcome these challenges.

Take these bullet points as a basic example:

How I plan to onboard new clients:

• During COVID-19, I plan to cultivate relationships by helping and consulting clients on non-recruitment related issues, such as advising clients on the current state of the market
• I plan to generate leads by making 25 cold calls per day during the ramp-up period, to again offer support and advice where needed, and to leverage any open roles
• A soft approach of connecting with hiring managers, HR contact and C-Level candidates on LinkedIn, to establish working relationships and eventually convert into clients

How I plan to sustain relationships with current clients and win repeat roles:

• The most important way to sustain relationships is by offering a service that is superior to competitors. That is by being transparent, sticking to deadlines and delivering results
• Regularly catch up with clients on a monthly basis to see how they’re doing and see if you can generate new roles
• Keep yourself updated on company news and congratulate clients on milestones e.g. if they generate a Series C round of funding

What industries I will target clients in:

• Series A – B funded technology startups
• Durving COVID-19 there is less of an appetite to use agencies due to an unprecedented volume of great candidates available in the market
• Offer free support to companies currently not using agencies, provide an impressive service and convert into paying client post-recovery

The 6th component is “examples of target clients” and this is where you can really demonstrate tangible market knowledge. Use company names, find the potential contact in each company and add your comments, such as the volume of roles you expect from that client. 5 examples should be enough to peak your hiring manager’s interest.

You can use a table to display this information with ease:

It goes without saying that you should never be tempted to use information that is proprietary to your previous employer. This information can be openly found with some basic LinkedIn research.

My methodology

Are you a recruiter that is focussed on crunching numbers? Are you a recruiter who is focussed on cultivating long-term relationships? In this section, you can include a few quick bullet points to explain how you approach recruitment. This information gives your hiring manager an indication about whether you hold similar values and whether you have similar working styles.

How you can adapt to recruiting during COVID-19

This section is a new one in response to current market conditions but can demonstrate how you are prepared to deal with current and upcoming challenges.

You can use this section as the title and include bullet points to outline how you will adapt to these market conditions. You can refer to this article if you want some tips on how to adapt to recruiting during COVID-19.

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My key competitors

Which recruiters and agencies offer the greatest competition? Demonstrating your knowledge in this area highlights that you are commercially aware outside of your core market.

Include about 5 different competitors who are directly competing in your patch. You can use the table below to display this information:

Personal revenue and target projections

In many business plans, financial projections are of utmost importance and can demonstrate your commercial acumen. If you’ve ever watched Dragon’s Den, you’ll know what happens when you don’t know your numbers!

Project your personal revenue for 4 quarters. You can start your calculations by predicting the average annual salary of a candidate in your patch. You can project your average percentage fee agreed with clients and from there you can calculate your average fee. Once you have this, you can predict the amount of placements you’ll be making per month.

Make sure your revenue projections are realistic and achievable. Avoid the temptation to predict vastly optimistic revenues, especially during COVID-19. You must allow time to ramp-up and there must be a logical relationship between your historical and predicted revenues.

The plan only includes project revenue. Your historical revenue should be on your CV.

Take the below as an example:

My predicted average annual salary of candidates:

My predicted average percentage fee agreed with the client:, my predicted average fee:, my predicted average placements per month, my projected revenue over 12 months.

Underneath, you can also include the KPIs you will set yourself to guide you in achieving these numbers. For example, you can set yourself a guideline for how many CVs you need to send, how many candidate meetings you need to arrange, how many client meetings you need to arrange and so on.

My remuneration

This is not a standard component of a business plan but is included in response to COVID-19. As mentioned in my previous article , if you demonstrate your willingness to share the pain of your cost with an employer, it will go a long way.

My last drawn salary:

• SGD $5,000 per month

My expected salary:

• SGD $3,000 per month during COVID-19
• SGD $5,000 per month post-recovery

How I propose we can share the pain during COVID-19:

• Reduce my previous drawn salary by 40%
• Reduce the threshold of my commission scheme of 9x per quarter to 7.5x per quarter
• Agree to return to standard remuneration once I’ve hit personal revenue of $60k per quarter

The template

To help recruiters through these challenging times, we’ve constructed a free template built around the components mentioned above, so you can create your own for when you reach out to hiring managers.

To download this template, please click this link and you’ll be redirected to the template.

This step-by-step guide should give your hiring manager a clear idea of your plan. If executed successfully, you’ve already demonstrated your commitment, knowledge and commercial acumen before even attending an interview.

The way you’ve structured your plan will give your hiring manager a very clear indication of your methodology and whether you’d fit their structure. Keep in mind that if your methodology is focused on high volume recruitment, it’s not going to work well with an executive recruitment agency.

As a next step, learn this plan inside and out. Be prepared to pitch your plan to your hiring manager and answer detailed questions surrounding each component.

Leave your interviewer with no room for concern and secure that job!

Speak to a recruiter

I specialises in senior rec2rec searches in Asia. Get in touch with him to discover opportunities.

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If you’d like to enquire about our services, please feel free to get in touch with our team.

Home » Blog » Where to start with a recruitment business plan

Where to start with a recruitment business plan

Rhys jones written by rhys jones managing director – davidson gray.

Rhys sold out of his previous recruitment businesses in 2012 to focus solely on helping recruiters set up and build recruitment businesses. Follow Rhys on LinkedIn or contact him direct  here for help with your start-up recruitment business or for coaching to grow an existing one.

You’ll be pleased to hear that in my experience a recruitment agency start up business plan need only contain a few essentials and really isn’t rocket science. You only need a basic plan to start, well thought through definitely, but not War and Peace.

A start up recruitment business plan doesn’t need to be super sophisticated. However what you do need is a well thought through plan so you can build solid foundations for growth, remove as much risk as possible and allow you, once you go live, to concentrate on the exciting bit, BILLING, rather than working things out as you go along. The planning now will make the real fun part of making money so much easier with fewer distractions, and allow you to really enjoy being your own boss and owning your own business. So spend that time now, trust me it’s a fabulous investment and you’ll be grateful for it when you make a flying start in your new recruitment agency. 

If you search on the web, you’ll find various contradictory ideas on what a business plan should contain, which can leave you worse-off than when you started, confused on which way is the best way. I hope in this series of blogs I can take some of that confusion away for you. I’ve been lucky enough to have hands on experience of building my first businesses from the ground up. Added to this, I improved my knowledge with additional learning gained at Cranfield Business School, which I applied to those early businesses and the many more recruitment businesses in different sectors I went on to set up, all of which are continuing successful companies. So with this experience, I’d like to think my ideas on recruitment agency business plans are worth considering (sorry if this sounds like I think I’m the Richard Branson of recruitment, it’s not meant to, but think it helps explaining my experience).

The common school of learning on business plans is to use the SWOT analysis, i.e. what will be the planned business’s:

• Opportunities

I don’t disagree that you could add this to your plan, and it’s handy to have in, but this series of blogs look at what I feel are specific and essential to a recruitment business plan (plus the bits you may not know if you’ve never set a business up before). Where to start.

To see if you do have the basics of a business in you, I advise firstly to look at the sales and cash flow forecast. If your business idea doesn’t pass this test, you need not waste your time any further – your business just won’t fly. So let’s start with the engine of the business, money in.

Your Sales Forecast

To allow you to write your cash flow forecast, you’ll need a well thought through sales forecast.

There’s lot to consider here, a lot more than first appears. You can’t just take what you bill now and assume you can simply replicate that without understanding where your current billings come from. So, below are ways to stress test where your current billings actually come from by looking at where you get both your vacancies and candidates.

Candidate Attraction

Needless to say finding good candidates is critical to your placements, so you need to make sure you have thought about where you will get them from. To help understand where you are currently successful, I suggest you look at your last six months’ billings and write next to each candidate placed where that candidate came from. Was it a headhunt call, a referral from previous candidates / clients, was the candidate off the business database, were they from a job board, social media, LinkedIn, Twitter etc? This is a real life study based on you, and how you are currently successful. It’s invaluable to understand what you will be able to easily reproduce when working for yourself e.g. headhunt calls, LinkedIn etc. and parts you may need to make up for e.g. candidates who came from a database search. So this will help you appreciate how easy or not candidate attraction will be for your sales forecast. It will also help get you thinking what you can do to make up for any tools you have now in the workplace but won’t have when you leave. Plus, if it’s job board centric then this is a cost you need to add to your cash flow plan. I’m not going to go into how to improve your candidate attraction here (that will be another blog) but if you’re currently very dependent on the company database, this should ring alarm bells and you need to think ahead and plan how to recruit successfully without it. And try applying these new techniques now whilst you’re still employed to perfect them so you can add their added sales value to your plan with confidence.

Client / Vacancy Attraction

At this stage it’s pertinent that I bring up the potential handicap that your current employment contract’s restrictive covenants may have on your planned client base. The current widely accepted covenant, i.e. what the courts see as ‘fair and reasonable’, is that you can be restricted from trading with any clients you’ve had ‘material dealings with’ over the last twelve months with your current employer, for the next six months once you leave (any more than this is seen as unreasonable).

Now this isn’t to say if it’s in your contract that means you’re definitely frozen out from this potentially lucrative group of businesses, there could be errors elsewhere in your contract that makes this void. So get it legally checked and from a commercial angle if you can. Law isn’t black and white and getting good commercial legal advice is hugely valuable which is why I use Barrister Greg Walsh of  Greg Walsh Law  for my Davidson Gray partner businesses. I see it as that valuable to get good quality advice. But if your current clients are off limits for the first six months, work this into your plan. Next, go back again over the last six months’ placements and mark where your clients/vacancies came from as you’ve done for your candidates. Do the clients come to you for you, or because of who you work for, are they from a PSL you won’t be on, were there any from a mailshot, new business cold call etc?  This will quickly show you where your current vacancies come from so you can write your sales forecast from a true picture of what you can and can’t replicate easily. Plus, if some methods you use now to gain clients are removed or won’t be as effective once you leave, you have time to plan new business development and marketing initiatives to replace this business. And as with the new candidate attraction strategies, see how they work where you are now, but maybe not too much, you don’t want too many new clients your covenants could restrict!

The sales forecast itself

Once you’ve considered the above, you will be able to see more clearly what tools and advantages you currently benefit from where you work. It should now be easier for you to write a realistic sales forecast. I find it helpful to write two sales forecasts, one you feel is realistically achievable and one that you feel is the absolute minimum you’ll achieve. The bare minimum one is important in your cash flow forecast. You don’t want to get five months in and run out of cash, so if you know the bare minimum you’ll achieve, you can see how much of a cash buffer you’ll need. The realistic forecast is the one you plan for with the activity you expect to hit, the KPIs you set yourself etc. Plus this can be your motivator, as you should be earning a lot more on this forecast than you currently are very, very quickly!

So simply start with month one, and take it through to month twelve. You can’t realistically predict year two in a start-up. You will learn a lot midway through year one and you can use this learning for year two’s forecast.

Once you’ve done your sales forecast, you can use this in your cash flow forecast. I will go into this in my next blog where I’ll explain how you can get a very good idea of  how much it will cost to set up a recruitment business , running costs, and net profit month by month.

I hope you’ve found this second blog in the series helpful, and as always if you have any questions, feel free to contact me. You can find me on LinkedIn under my main business name of Davidson Gray.

Interested in working with Rhys to grow your start up?

Rhys not only provides the start-up infrastructure for your new business and all the support services your business will need, he can actually work with you to grow it. Take advantage of as much mentoring and coaching as you would like, plus Rhys considers himself a working partner and will take responsibility for the areas that you’d like him to, perhaps those you have the least passion for e.g. Finance and Digital Marketing. When working together on the business’s growth strategy, much of the effort to deliver it can be delegated to the Davidson Gray team.

Book a chat with Rhys  here.

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• Setting Up a Recruitment Business
• Growing a Recruitment Business
• Managing a Recruitment Business
• Recruitment Tips
• What you need to know to perfect your headhunt
• A recruitment business partner is for life, choose carefully!
• How to pitch for recruitment business investment
• How to use success ratios to produce recruitment KPI’s that WILL work
• How to deliver quality headhunts that WILL win more business.
• Top 7 Reasons To Set Up A Recruitment Business
• Why Recruitment Owner/Managers Need to KPI Themselves for Real Business Growth
• Is building a recruitment business to sell a good idea?
• So you want to be a Headhunter?
• Why bad managers give recruitment KPI’s a bad reputation

A guide to using LinkedIn Recruiter

In this blog, aimed at recruiters, we examine the potential LinkedIn Recruiter options in more detail and find out what you get for your money and how to make the most of the investment.

How to grow your recruitment business in 2023

What does it take to grow a recruitment business in these uncertain economic times? In this blog, originally published in The Global Recruiter, Rhys looks at what it takes to grow a recruitment business in 2023.

Leadership or management – what’s more important to a growing recruitment business?

Leadership or management – which one’s the more important skill to have when growing your recruitment business? We’ll look at why it’s crucial to have both and when to use them to greatest effect.

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How to write a recruitment business plan

When it comes to setting up a successful new enterprise  , writing a robust recruitment business plan is imperative. Your business plan is a roadmap to success, allowing you to establish the viability of the business, set intentions and use it as guide every step of the way. Without one, you might end up taking a few wrong turns. This is the case with many budding entrepreneurs, as they lack the understanding needed to write a good plan, omitting vital details which can be costly later down the line.

So whether you’re undertaking your annual review of your recruitment business plan, or you’re writing one for the very first time – this is how to write a solid business plan that will certainly lay the foundations for success. 

How to Structure Your Recruitment Business Plan

The structure of your business plan is important. It needs to follow a logical layout and look at areas such as marketing, competitors and forecasting. The following structure is the most common:

• Executive summary
• Business description
• External analysis
• Internal analysis/execution
• SWOT analysis/market analysis
• Marketing and sales plan
• Financial forecasts

Sell Yourself as Well as Your Business

When you’re writing your recruitment business plan, of course it’s important to focus on the business aspect, but you need to remember to sell yourself too. When an investor is looking at multiple opportunities, each business plan might look very similar – it’s you that makes it unique. Potential business partners invest in the people as much as the business model, and they need to believe you’ll deliver everything you say you will.

Your Personal Recruitment CV

It’s important to talk about yourself in your business plan, so briefly outline your background, including your recruitment experience and any leadership or management experience you may have – this is what will make your business plan stand out.

Your Vision for Your Business

Anyone can write a robust business plan, but what makes for a successful business is vision .

It’s answering the ‘why’ – why do you want to create this business? Why will it be a success? Why will your recruitment business be different from all the others?

This is what will make investors get excited about your venture.

How to Conduct Market Research for Your Recruitment Business Plan

You need to conduct market research for your business plan in order to test its viability. You can do this by defining both your competitors and your target market, demonstrating that there is an audience there for your business.

Define Your Target Market

Every successful business owner knows their market inside and out. They know who they are, their likes, dislikes and where to find them.

In your business plan, you need to explain your client and candidate demographic, why they will be interested in your business and how you’re going to target them.

When starting out, keep your target market small and specialised. Casting your net too wide will undoubtedly lead to an imbalance of energy input and incoming leads. Narrow down your target client base – are you targeting a specific sector in a specific geographical area? Then further narrow down your candidate base – what experience level, contract durations, or career opportunities are your ideal candidates seeking?

Follow our advice for how to get new business in recruitment   for further support on sourcing candidates and clients alike with a comprehensive recruitment strategy.

This is one of the most important steps in your recruitment business plan. Give your recruitment business a clear direction and purpose, and the lead quality and investment opportunities are sure to follow.

What Are Your Competitors Doing?

Competitor research will make up another key part of your business plan and recruitment strategy and will help you to evaluate the viability of your business.

Have a look at a number of different key competitors and identify their strengths and weaknesses. This will help you to discover any opportunities that you could take advantage of, as well as highlighting any risks that may affect your business in the long run. Prepare your answers to how you’ll overcome challenges posed by fellow recruitment specialists in your target niche, and how you operate differently to them.

Think About Your Sales Strategy

Once you’ve defined your candidates, clients, and competitors, you’ve got to think about your sales strategy. It’s all very well having a fantastic recruitment business, but how will you target your customers and make money without a sales and leads strategy?

Think ahead to the next 3-5 years and establish who you might need to hire to drive sales and what channels they might use. This is where you can really demonstrate your understanding of sales, including the barriers, opportunities and the key metrics for success.

Focus on the Numbers

If you’re going to use your recruitment business plan to pitch for investment, then you need to be clear about the numbers. Investors will be looking closely at this section, evaluating whether your business is profitable.

Break it down by:

• Costs (fees, commission, salary, contracts, business costs)
• How you plan to make profit
• Turnover projections for the next 3-5 years

Make sure you get really granular with the details – any gaps or cause for concern will have an investor raising doubts about your business model.

Once you've figured out your recruitment business plan, you need the following steps from Recruitment Entrepreneur when considering how to start a recruitment agency . 

How Will You Get Funding?

If you’re planning on getting funding for your new business venture, then you need to be realistic. The average budget for a UK start-up is £5,000 , so unless you’ve got that saved up, you need to think about where you might source the money from.

Personal Funding

One of the most popular funding options for start-ups is personal funding, with 82% opting to self-fund their new venture . However, start-up budgets tend to be highest in recruitment, with 75% of recruitment businesses budgeting over £10,000 to start their business. 

Business Start-Up Loans

Start-up loans are another great funding option for recruitment start-up businesses. The government released the Start Up Loan Scheme in 2012 and in 2019, there was a massive 200% increase in recruitment businesses – all of which needed funding.

However, the only issue with start-up loans is that, unlike investors, they’re a simple cash-injection into the business and don’t come with any further support, such as business mentoring and guidance. Whilst this might be ideal for some new business owners, it may not be the best option for others – especially those who are launching their very first start-up recruitment business.

Funding and Investment for Recruitment Businesses

Another popular funding option for recruitment businesses is working with investors . Investors provide a cash injection to get the business off the ground, however, unlike loans, investors enter into a partnership, providing business mentoring and guidance, as it’s in their best interest to ensure the business is a success.

At Recruitment Entrepreneur, we not only provide investment, but we also deliver:

• Financial advice
• Marketing strategies
• Operational support
• Talent acquisition
• Legal advice
• Development opportunities

We enter into a partnership with every business we invest in, helping you to build real value in your recruitment business and drive it to success.

What Not to Include in your Recruitment Business Plan

So now you know what you need to include in your business plan, it’s worth noting the things that should be omitted. Some of the most common mistakes made when writing a start-up business plan include:

• A lack of planning
• Underestimating your competition
• No focus on sales and profit
• No personalisation
• Exaggerated financial growth
• No direction or focus
• Unrealistic goals or assumptions

It’s important to be as transparent as possible when writing a business plan, so avoid making any bold or unrealistic claims, fiddling with your numbers or making any assumptions without tangible evidence in order to make your business look investment worthy.

Here at Recruitment Entrepreneur, we are always on the lookout for business leaders who want to scale their own recruitment business. We can help you with everything, from setting up your new recruitment business to scaling an existing one. Get in touch today to see how a partnership with us could benefit you and your business. 

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How to build a recruitment plan, step-by-step

• Recruitment Strategy

Job reqs are boom or bust, so you’re either scrambling to cover everything or worried about proving your team’s value. Every hiring manager has different expectations on compensation and time to hire, and when they change their mind, you always feel like the last to know.

To break the cycle, what you need is a robust recruitment planning process. A full recruitment plan should include an agreed-upon workforce plan, hiring approach, and marketing strategy. If you don’t have time for the full process, you can also do a quick-and-lite version if needed, though we recommend going through all the steps eventually.

A proactive recruitment plan is the first step to becoming a true strategic partner in the organization. You can get ahead of hiring manager requests, set clear expectations, and demonstrate how critical talent is for achieving the broader goals of the business.

We’ve asked our own recruitment team, as well as experienced recruiters from a range of industries, how they do recruitment planning. Here’s their step-by-step guide, along with the real templates they use every day as part of their recruitment strategy. 

Get your free recruitment planning template

Step 1: assess the situation, collect the headcount plan.

Ask each team to share the roles they plan to open this year, and how each role supports their team’s annual goals. For example, this can help you understand which roles must be hired by a certain date, and which roles are more flexible.

You need to understand what the company is trying to accomplish, how that rolls down to [each] department, and then how they see all these hires contributing to that. Mike Bradshaw, PHR Head of Talent Acquisition, Pinpoint

Review internal and external materials

Start by auditing your core metrics. Check internal reports and your ATS’s reporting for core hiring metrics, including:

• Time to hire
• Time to fill
• Average time in each interview stage

Candidate attraction

• Hires by source
• Candidates by source
• Offer acceptance rates
• Cost per hire
• Actual vs. budget
• Net Promoter Score
• Performance after hire
• Retention rates
• Candidates by demographic groups (race, gender, age, disability, veteran status, etc.)
• Hires by demographic groups
• Conversion rates on specific jobs by demographic groups

Then move on to qualitative materials, such as:

• Feedback from candidates (surveys, Glassdoor reviews, coffees with new hires)
• Feedback from hiring managers and leaders (surveys, performance reviews)
• Internal notes on what has and hasn’t worked before

And take a look at your current candidate experience, including:

• Careers site
• Job descriptions
• Communications sent to candidates

Ask for feedback

Have an open-ended conversation with your stakeholders about how they think hiring is going. Consider requesting feedback from:

• Recent hires
• Hiring managers
• Department leaders
• HR and recruiters 

Where do they see untapped potential? Where do they want to see improvements? What attracted them to the company and what was their candidate experience like?

Identify opportunities

As you review all this information, look for signs of issues and potential opportunities. It’s also helpful to write down your baseline in each area so you can track improvements over time. 

Typically, the opportunities you find will fall across three areas: Talent sourcing, employer brand, or new hire onboarding.

Finding talent: Are there untapped opportunities?

• Channels that work and don’t work, untested networks or tactics
• Channels that are delivering volume but aren’t delivering quality
• Channels that have delivered quality, but aren’t getting the attention they deserve

Branding: Are you selling your company?

• Is your employee value proposition (EVP) strong? How can it be improved?
• Is your messaging and branding cohesive across your careers site , branded emails , and job postings? 
• Is your EVP included in each job post?
• What are candidates saying about you in candidate surveys and review sites like Glassdoor?

Onboarding: What happens after a candidate accepts your offer?

• Are systems in place to give HR what they need to set up new hires for success?
• Is your onboarding process streamlined? 
• What’s the feedback from new hires and hiring managers about the onboarding process?

Step 2: Develop the headcount plan

Now that you have context, data, and feedback on previous hires, you can start planning for the future. The more an organization invests time into these exercises, the easier and more likely it will be to meet recruiting goals on time and within budget. 

Understand team goals and priorities at a high level

Organizational goals are driven by your employees. Meet with senior leadership and department heads to discuss company goals for the year. Is this a year of growth, or efficiency? Are there certain departments or regions we want to develop? Answering these questions will help your team to be aligned with leadership on the hiring mission and messaging. 

Design dream staff plans—then prioritize

Give department heads the opportunity to design their ideal team to reach that year’s goals, budget notwithstanding. This will grant you greater visibility into their vision for the department, and what skills they want on the team. 

Then, help department heads refine each job description and prioritize each role, based on actual needs and realistic expectations. Some roles may be less vital this year, or could be solved without a full-time hire. In these conversations, you can help shape the plan for each department, manage expectations around hiring, and avoid frustration later on. 

Get on the same page about levels

Internal alignment on levels ensures your hiring plan is both competitive and equitable. In a competitive labor market where remote work opens up more opportunities for employees, it is even more important to offer the right rate to hire the right person at the right level. 

At the same time, you want to avoid overpaying or overpromising. Not only will this impact your budget, but it could contribute to internal equity issues, which disproportionately affect women and people of color . 

Outline what is required at each level and define salary bands to mitigate the risk of some employees being unfairly valued. If it becomes harder to hire people at the right level because of pay, then it may be time to reassess trends in the market and adjust compensation levels accordingly.

Tip: Salary transparency attracts quality candidates. On Pinpoint, companies that include salaries in their job descriptions move 15% more applicants to the interview stage

Depending on the size of your organization, there are two ways to approach leveling: 

• Uniform leveling: Everyone across the company follows the same track (associate, manager, director, etc.)
• Functional leveling: Each department has a specialized and unique track. For example, the marketing team may have associates, managers, directors, etc., while the engineering team has engineer Is, engineer IIs, staff engineers, senior staff engineers, etc. 

Determine what makes sense for your organization based on your size and complexity. If developing levels from scratch, the process may take upwards of 9 months, but it will give your whole organization greater clarity.

Plan for backfills and promotions

In addition to new hires, you’ll also need to plan for people who are leaving their roles to minimize the impact of losing skills or capacity on the team. To anticipate backfills, consider past year attrition and industry benchmarks along with current economic factors (growth in the sector, recession, etc.). 

Then, look at your current team to understand who is at risk of leaving their role due to performance, attrition, or promotion. Meet with managers to understand who is on track to be promoted and when so you can plan for their backfill. Be conservative with your budget and resourcing plans so you aren’t surprised when the needs arise. 

Set realistic and fair budgets

With defined level expectations and a conservative hiring plan, it will be easier to set budgets for new hire compensation. To stay on top of industry trends and remain competitive, we recommend these resources:

• Comprehensive.io

Include a budget for the resourcing you will need to reach hiring goals. It can be difficult to anticipate how challenging it will be to hire certain roles, and your talent team may be impacted by attrition as well. It’s possible you will need to increase the capacity of your talent team with new hires or external support from contract recruiters, recruitment agencies, or recruitment process outsourcing provider (RPO).

Any budget proposal will inevitably result in pushback. By working through these steps, your plan should already be aligned with company priorities, but you can make your case even stronger by:

• Demonstrating past recruitment cost per hire and recruiting budgets as a reference, and reiterating how the organization wants to improve this year
• Leveraging leaders who are most invested in making good, fast hires to advocate for the budget
• Using research (benchmarks and models) to illustrate estimated return on investment of those hires for the company 

An iterative approach

A workforce plan will set you up for success, but won’t be set in stone. Shifting priorities, feedback from hiring managers and candidates, and macroeconomic factors will alter your plan over time. Regularly report on data, solicit feedback from stakeholders, and realign on goals to stay on top of these changes. How often you should check in on this plan will depend on your team size and existing processes, but here is an ideal cadence: 

• Weekly: Meet with hiring managers while you have active roles open
• Monthly: Meet with department heads if you are hiring for their teams
• Quarterly: Meet with all department heads to review goals, along with potential backfills and promotions

Step 3: Set realistic timelines

Manage expectations for your team and increase the likelihood of hiring people on schedule by setting estimated timelines. Outline the process for hiring managers and any other stakeholders to ensure they know what is required of them, like submitting requisitions in a timely fashion and allocating time in their schedules for interviews. When recruiters and hiring managers know what actions they need to take and when, your team will be able to respond quickly when strong applications come in. 

To set timelines, refer to historical hiring data along with industry benchmarks . Keep in mind that other economic factors may impact timelines. For example, post COVID-19 and the Great Resignation, more people have reevaluated their priorities and found that they could find better options that fit their values , meaning employers have had to act fast to land top talent. 

For hiring managers, the wait always feels long. Be upfront and provide a detailed timeline so they can see what is involved in the hiring process and feel assured that work is being done.

Example timeline from the Pinpoint Recruiting Team:

• Day 1: Job is posted
• Gather initial results from job posts and adjust accordingly (title, salary, location, etc.)
• Fine tune alignment on required skills and background with real world profiles
• Ramp up sourcing and screening
• Initial screening conversations with 5-10 candidates per week
• Hiring manager interviews with 3-5 qualified candidates per week
• Continue to fine tune alignment on job post and target profile
• Continue to source as needed to meet benchmarks for qualified candidates
• At Pinpoint, most roles can be filled in 60 days or less (time to accepted offer). Executive (Director and above), technical, or highly specialized roles could take up to 90 days to get to an accepted offer.

At Pinpoint, we dedicate a section of our internal communication tool to share documentation on the recruitment strategy and approach so the whole team has visibility. We also share reports from our ATS to keep hiring managers and senior leaders up-to-date on the status of open roles. 

If you still receive pushback, explain the value of having recruiters conduct a thorough, high-quality screen. With more time to vet applications, recruiters can protect hiring managers’ time and only forward the best candidates. If hiring managers become the bottlenecks, here are tips for staying on pace without adding more work to their plates:

• Ask hiring managers to share a sample of CVs or LinkedIn profiles that reflect the ideal candidate and align on what “great” looks like 
• Reserve interview blocks on interviewer calendars in advance 
• Bring in additional interviewers for various parts of the recruitment process
• Utilize automatic scheduling in your ATS to allow for one-click booking
• Align on the priority of roles to expedite those that are most immediately needed

Step 4: Launch the search

Search kickoffs are about identifying what kind of candidate you would like to hire, how you’ll get their attention, and how you’ll keep the search on track. 

Start by getting detailed information about what the hiring manager actually wants and needs via a Requisition form. It’s most helpful if they share this in advance so you can review it before the first conversation with them. You can then verify and expand upon this information when you meet.

While it can be tempting to publish open roles as quickly as possible, it’s worth investing time to customize job postings so they communicate your Employee Value Proposition and attract the right talent . This will allow you to bring in qualified, interested candidates more quickly. 

This also applies to marketing the role—collaborate with the hiring manager to think beyond your typical go-to job boards and identify if there’s anything new or different you can try for this particular search. 

Schedule an initial kickoff meeting with the hiring manager to establish your processes for working together. Identify a day and time to meet each week to check in on the search. Confirm the interview process early on so that everyone knows what to expect and this information can be shared with candidates, ideally in the job posting. 

Step 5: Coordinate the recruitment process

Once the search has started, recruiters will be overseeing a lot, including hiring managers. For them, hiring is essential, but it amounts to just a small percentage of their day. An ATS should make it easier for recruiters to keep the process moving without adding excessive work for hiring managers. Here’s advice from some of our customers on how they’ve been able to increase efficiency up to 70%, in part by collaborating better with hiring managers:

Hiring manager portals

The New York Public Library has about 400 managers who are involved with hiring, in addition to their many other responsibilities. The NYPL team set up a streamlined hiring manager view that made it easy for their team to comment, tag, rate, and share feedback on candidates all within Pinpoint. 

Hiring managers now have greater visibility and a more active role in the process, resulting in greater outcomes for everyone.

It’s really allowed us to coach our hiring managers to be better at creating a great experience for candidates. Craig Senecal Senior Director of Employee Experience, NYPL

Interview scheduling

Franklin Electric hires across a complex and international organization. Balancing people’s schedules and time zones can be a huge challenge. For them, the best solution was to find an ATS with automated interview scheduling . Hiring managers are thrilled to have the access and functionality to fill roles faster, without having to wait on HR.

It’s been a game-changer in terms of the impact and how easy it is. Amanda Hecht Corporate HR Manager, Franklin Electric

Icario is always looking for more data behind their hiring decisions, especially to keep track of their diversity and inclusion goals. After implementing Pinpoint, they began using candidate scorecards to standardize the feedback process and make more informed decisions. If your ATS doesn’t have built-in scorecard functionality, you can use this manual score sheet template .

It’s been really cool to see the type of metrics that we get, or that we can even get metrics in the first place! Rachel Todd Senior Talent Acquisition Specialist, Icario

Step 6: Report on progress

To track team goals, you’ll want to get a quick snapshot every week (or more likely everyday) of whether your search is on or off track. Your ATS should be your go-to source for data, with reports and dashboards that allow you to calculate key metrics. 

In some systems, you may need to create or download a report to get this information. If all else fails, you can also manually track this data outside your ATS (e.g. Google Sheets). 

Top 5 metrics to track during a search:

• # Days Open
• Average Number of Daily Applications
• # Candidates in Each Stage
• # Candidates Who Reached Each Stage (aka Historical Activity)
• Conversion Rates (aka Ratios)

These daily or weekly numbers are most useful when compared against benchmarks. You can establish benchmarks based on your own organization’s historical data or public information about the performance of organizations similar to yours. These benchmarks will vary based on industry, company brand recognition, company size, location, level of specialization, management level, and recruiter experience. 

Example: Benchmarks for Days Open

• By 21 days open, should be hitting goals for weekly candidates sourced, screened, and interviewed
• By 45 days open (for non-technical roles), should have 2-4 strong candidates in final stages
• By 60 days open (for technical roles), should have 2-4 strong candidates in final stages

Example: Benchmarks for Candidates in Each Stage

• 25-50 candidates receiving messages from sourcing outreach per week
• 5-10 candidates interviewing with the recruiter per week
• 3-5 candidates interviewing with the hiring manager per week

If you find yourself struggling to meet benchmarks as the search goes along, continue to revisit and ask questions about your sourcing and marketing plans. 

• Do you need to try new channels or new strategies to reach more candidates with the target profile?
• Has the target profile evolved?
• Are there enough people who fit your target profile to realistically fill the job in a reasonable amount of time? (E.g. if you’re looking for someone with niche technical skills within close proximity to a physical office, there may simply not be enough people in that target profile to find someone without providing relocation.)
• Should you try different messaging in outreach to candidates or in the job posting?
• Are you and the hiring manager both clear and aligned on what good and great candidates look like? 

Step 7: Improve year-over-year

The only constant in recruiting is change. Once you’ve devised your plan, be prepared to return to it repeatedly, iterating and improving on your recruitment strategy as you learn. 

With a hiring tracker and reports showing key metrics, your team will be more aware of what is working and can pivot quickly if needed. When you embed reporting into recruitment, your team will be able to see the forest through the trees and have more control over the process. 

And it’s never too late to start. Even if you are beginning this process mid-year, by the time you are planning for the next fiscal year, you will have more documented information to drive decision-making. 

By working directly with senior leadership, department heads, and hiring managers, you will also have greater visibility of the organization and more advocates on your side. With each subsequent year, you will be able to improve efficiency, collaboration, and the candidate experience. 

A final word of advice

As you’re going through the process, “ask a ton of questions and be selfish with your time,” says our own Head of Talent, Mike Bradshaw. When he took over the role—as the company’s first dedicated talent leader—he used a recruitment plan similar to the one outlined here to understand and prepare for upcoming hiring needs. 

Every one of us that's involved in recruitment—from leadership all the way down to individualized hiring managers—has improved the way that we think about talent as a result. Tom Hacquoil CEO Pinpoint

To get that kind of trust from the leadership team, don’t worry about asking a silly question; just focus on making sure you get all the information you need.

“Some people are sort of timid about asking questions, or asking them again, or asking for more time,” says Mike. It’s natural to want to look confident and autonomous, especially if you’re taking over a new role. 

“But then you end up making a lot of assumptions, and you might start running with something and find it doesn’t work out, and then you have to take a step back,” warns Mike. “Ask all the tough questions. Really try to understand what’s going on, good or bad.”

Further reading

Inbound recruiting vs. outbound recruiting, programmatic recruitment advertising: a recruiter’s guide.

Ready to get started?

RECRUITMENT BUSINESS PLAN: How To Write a Recruitment Business Plan

• by Folakemi Adegbaju
• August 14, 2023

Table of Contents Hide

How to start a recruitment business, how to write a recruitment business plan, final thoughts, how do recruitment agencies make money uk, how much commission do recruiters earn uk, do i need a licence to start a recruitment agency uk.

It’s obvious that recruitment agencies now face a very different problem as the country’s economic recovery picks up speed. Although the environment for recruitment businesses is undoubtedly difficult, there are significant opportunities for intelligent operators, and the medium-to-long-term prospects for the sector are excellent, but having a good recruitment business plan in the UK makes it easier. A solid recruitment business plan is very important when you are starting your own recruitment agency to serve as a road map to a productive recruitment business.

Let’s zoom off!

What Is a Recruitment Business?

External companies, known as recruitment agencies, help organizations discover qualified applicants. Employers assign them the responsibility of locating applicants for open positions within their organizations in order to save time and money and to gain access to a wider candidate pool than a direct advertisement or company network can.

Growing your portfolio of clients is vital to any new recruitment business. The following are the steps you need to follow when starting your recruitment business:

#1. Learn About Recruitment

Anyone considering starting a recruitment business would benefit from prior experience as a recruiter or recruitment manager, but it is also feasible without prior HR knowledge. If you are new to the recruiting industry, you might think about taking a recognized course that will provide you with the skills and knowledge you need to understand how the recruitment industry operates.

Most importantly, you will discover efficient techniques for finding and hiring candidates. Knowing this is important since it can assist you in hiring HR professionals and recruiters who are qualified for your recruitment business. When you assign them recruitment tasks, you can use this expertise to ensure that they are efficient and productive.

#2. Find Your Niche

If you’re going for a specific business sector, work to establish yourself as an authority and specialist in that field by conducting in-depth studies, participating in industry-related events and reading industry publications, and gradually building relationships with its major players. You have little chance of surviving as a freshly created recruiting agency unless you establish a specialty. Given the well-known brands and prominent positioning of the big companies, it is extremely challenging to compete in the general recruitment market.

Many of the most prosperous smaller-scale recruitment firms have flourished by adhering to a niche market they are intimately familiar with.

#3. Write a Business Plan

You can write a recruitment business plan to more effectively organize all of your recruitment business concepts. When launching a business, business plans are crucial, especially when you’re looking to get financing.

#4. Register Your Recruitment Agency

The most formal procedure for opening a recruiting agency is filing business registration forms with Companies House and HM Revenue and Customs (HMRC). You can do it yourself if you believe you have the required knowledge and abilities. A business can often be formed in a matter of hours, and the process can be completed online. Hiring a seasoned accountant to assist you in this procedure is an additional choice. You would receive a certificate of incorporation after registration, which would include the agency’s founding date.

#5. Invest in Tech Tools

These days, technology and recruitment agencies are closely related. As a result, you should spend money on the appropriate instruments because you’ll wind up saving a lot of time and money that way. One of the most well-liked and dependable pieces of online software used by recruiters is the applicant tracking system (ATS).

#5. Assess Your Competitors

After deciding on the market and the type of recruiting firm you intend to launch, analyze your main rivals. Never play a game without understanding its rules and the players you’ll be up against as you strive to advance in the ranks and gain clients. Because of this, your initial study should focus on the major players in your target market, including their standing, record of success, and business background. Find out how their agency differs from what you had in mind and how you might take advantage of the holes they don’t fill.

#6. Invest in People

When you decide it’s time to bring on extra recruiters to aid with workload management, it’s critical to continually provide them with alluring advancement prospects. They can continue developing their abilities in order to support the success of your organization in this way.

#7. Be Visible

Make sure your business appears towards the top of online search results for potential customers. A responsive website, SEO, Google Ads, and social media marketing are all excellent resources that can help you outperform your rivals.

 #8. Assess Your Finances

Even while most other companies need more capital to get off the ground than recruiting businesses need, you should still be aware of your available resources. Be deliberate and learn what it takes to operate an HR-related firm effectively, or you’ll start your company without the essential resources and in the dark.

Think about expenses for things like office supplies, technology, personnel, insurance, etc. Consider your financial situation, how much cash you have on hand, and whether you would be able to get a credit loan or government assistance.

#9. Research Laws and Regulations

You should investigate the market and the competition, and you should be familiar with the rules and laws that apply to your business. Without those details, you run the danger of unintentionally breaking the law or skipping important tasks. If you want to manage a successful recruitment agency, you must equip yourself with information and assemble the necessary staff to assist you in keeping up with the most recent regulations and policies. As a result, the majority of businesses rely on attorneys and counsel to handle legal matters.

However, as the owner of a recruitment business, you should always invest time in learning about pertinent rules and regulations to avoid future legal issues.

What Is a Recruitment Business Plan?

A recruitment business plan doesn’t have to be extremely complex. However, you do need a well-thought-out plan to help you lay a solid basis for development, minimize risk, and free up your time once you go live to focus on the fun part of billing instead of figuring things out as you go. By making the necessary preparations now, you’ll have fewer distractions during the truly enjoyable portion of earning money and be able to fully appreciate having the freedom to run your own business. We assure you it’s a great investment, and you’ll be happy you did when you take off at your new recruitment business.

Spend as much time going through some samples of service-related business plans as you can before you begin drafting your recruitment business plan.

There are some steps you need to follow while writing a recruitment business plan. Here are they:

#1. Executive Summary

An executive summary provides a broad overview of the company and all of its components. In many cases, writing it after you’ve created the other parts of a business plan might be advantageous. 

What would you say if you were pitching your company to an investor? Keep in mind that banks and investors have likely heard thousands of other pitches before yours, so you must really stand out to get their attention. It will be worthwhile to put substantial thought and effort into the executive summary of your recruitment business plan UK.

Keep in mind that this is your chance to persuade investors of the legitimacy of your company. Keep your tone upbeat, concise, and understandable. Don’t get sucked into lengthy explanations or descriptions, and steer clear of technical jargon. Go and capture your investor’s mind.

Consider these facts when writing your executive summary:

• Keep your language clear, concise, and easy to read. Make it short and sweet.
• What makes you stand out from other recruitment agencies?
• Why should they be confident they will get their money back?

#2. Company Overview

You should thoroughly define the agency’s main services, activities, goals, and management style in this part so that readers may understand how the organization operates and how its management style supports those aims in this section of your recruitment business plan UK. You would also specify here who you wanted the clients of the recruitment business to be. Furthermore, you have the opportunity to adequately introduce yourself and your recruitment business in the company overview. You can provide more information about your strategies for guaranteeing the success of your recruitment agency to possible investors.

Also, keep in mind that the reasons investors should choose to invest in your recruitment agency and the reasons they should feel they will receive a return on their investment should be your main focus. However, you must demonstrate that you’re already in the recruitment sector. Tell them how much you understand the market, what changes you anticipate, and how your business is poised to succeed in the future.

Consider the following while writing your company overview, it will help you when writing a company overview:

• How will you stand out from your competition?
• Exactly who are your target clients? Do you have an ideal customer?
• What is your current financial status?
• What previous experience do you have in managing a business?
• What made you decide to start a recruitment agency?

#3. Management Team

This section of your recruitment business plan UK focuses on the management and staff members who would aid your organization in achieving its objectives. It also outlines their obligations. However, a company is only as good as the individuals running it. You’ll need the assistance of an excellent staff if you want to truly succeed with your recruitment firm. You should describe your management, personnel, and future growth plans in the area of your strategy devoted to management and important individuals.

It is also not necessary for this part to be overly lengthy or intricate. Investors only care that you have a strong management team and, where necessary, that you have strategies in place for future expansion. You’ll be alright as long as you’ve demonstrated this.

You can also include the following in this section to make it more attractive and catchy for your reader:

• Your staff’s salaries
• Do you plan to bring new people into the business? If so, when? How many? And what kind of salaries will they be paid?
• Staff members and their roles at the agency
• The previous experience of your staff

#4. Market Research

You must also consider your target audience and how you will stand out from the competitors in this part. In order for investors to understand your agency’s priorities, you should try to be as specific as you can with this. Potential investors could think you haven’t given it much thought if you are too unclear. Also, consider yourself to be your ideal client. What will persuade them to pick you over another recruitment agency?

Include the following in this section to give your reader a better understanding of what you are saying:

• How much do you know about your competitors?
• How many large recruitment agencies operate in your area?
• What is the average cost of employing a recruitment agency?
• Do they specialize in any particular industry? How does this compare with your own business?
• How will you get the attention of clients?
• How much will you charge your clients?
• What will make them choose you over other competitors?
• How can you gain their loyalty?

 #5. Business Objectives

Imagine where your business will be in a month, six months, a year, and perhaps five years. But don’t lose your mind. Ambition is admirable, but you shouldn’t claim that your company will dominate its sector after a few years because that will make you appear foolish. However, both short-term and long-term objectives will be necessary for your recruitment firm. These goals should define for possible investors what you hope to accomplish over a specific period of time. To keep track of your objectives, you can also try to apply the S.M.A.R.T. (Specific, Measurable, Attainable, Relevant, Time-based)  criteria.

You can also include the following to help you add more objectives:

• How many clients do you expect to have after the first two months?
• How much revenue do you expect to see after the first six months?

#6. Financial Forecasting and Financial Projections

The financial strategy, which outlines how you intend to fund the organization, is one of the most crucial components of your recruitment business plan UK. You can use it as a place to project how much money the agency will bring in . It may also take the greatest effort and time to complete this part of the recruitment business plan, but doing it right is crucial. You’ll need to demonstrate to potential investors how you’ll make back their investment. What is your potential profit per client? How many customers do you expect?

You need to also consider and  budget for the following:

• Purchase estimations
• Hiring costs

The following must also be added to your financial forecasting and financial projections to make your investors get a better understanding of your recruitment business plan in the UK:

• Sales forecast
• Expense budget
• Cash-flow statement

It seems confusing, right? That’s why we’ve compiled a recruitment business plan for you to make it easier and stressless.

#7. Funding

Be as transparent as possible about your financial situation. While writing your recruitment business plan, nothing should be kept from your investors. Do you already have existing financial support? Your investors will need to know how much start-up capital you have, and where it’s coming from. You need to let them know whether you’re using money from your own pocket, or whether you have investments from some other backer.

You must also be clear about how much cash you will require now and in the future. Investors should be informed about how the money will be used, whether it is for staff salaries, equipment purchases, or rental fees for space.

However, don’t ask for more than you need because doing so would likely be a turn for investors.

You can get funds through the following means:

• Personal loans
• Partners or sponsors
• Family and/or friends

By developing a thorough and understandable recruitment business plan, you’re giving yourself the best chance of success. As a result, you’ll be able to open your recruitment business with confidence. Investors adore comprehensive business plans, so keep in mind that the more specifics, the better. We’ve compiled a recruitment business plan just for you! With this, you can open your recruitment agency with confidence!

In the UK, companies that hire applicants from recruitment agencies pay the firms. Typically, the agency receives payment from the company in the form of a percentage of the starting compensation for the new hire

When hiring higher-paid employees, recruiting services may demand hefty fees. A recruitment agency will typically charge between 10 and 30 percent of the annual basic wage. The expected recruitment agency fees for base wages range from £20,000 to £100,000

Despite the fact that the sector is regulated, the majority of agencies don’t need a licence to operate, though there are a few exceptions. A licence from the Gangmaster and Labour Abuse Authority has required if an agency supplies workers to the agriculture, horticulture, or food processing/packaging industries.

Despite the fact that the sector is regulated, the majority of agencies don't need a licence to operate, though there are a few exceptions. A licence from the Gangmaster and Labour Abuse Authority has required if an agency supplies workers to the agriculture, horticulture, or food processing/packaging industries.

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• Recruitment Agency Insurance: A Detailed Analysis
• BUSINESS LIFE INSURANCE: Definition, Types And All You Need
• TRAINEE RECRUITMENT CONSULTANT: Qualification, Skills, And Salaries(Updated!)

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Last Updated on August 15, 2023 by Folakemi Adegbaju

How to write a business plan for a recruitment agency

Table of Contents

Why a business plan is important

Provide direction,  minimise risk , reduce spending, market research , budgeting and financial planning, examples of swot analysis for a recruitment agency, opportunities , how countingup can benefit your recruitment agency.

If you’re looking to start a recruitment agency, you’ll need to create a business plan as any other startup would. Remember, though, that you’ll need to also account for the specific situations that might arise while working in the recruitment industry.

This article will serve as a guide to writing a great business plan for your recruitment agency. We’ll look at what your plan should look like, as well as why a plan is important. The topics we’ll cover include:

There are a few different reasons why you need a business plan before starting a business , but one of the most important is that it will guide your business going forward. Without a plan, no matter how simple the plan is, you’ll likely struggle to develop your business and make effective decisions. 

A business plan doesn’t have to be set in stone — you can adapt it to account for any unique events that affect your recruitment agency. That said, it’s essential to have at least a vague idea of the purpose your business will serve, the potential obstacles you might encounter, and how you’re going to deal with those obstacles.

A business plan is also necessary to minimise the risk you’ll face when starting a recruitment agency . One of the key sections of a business plan is the SWOT analysis, where SWOT stands for strengths, weaknesses, opportunities and threats.

In order to minimise risk effectively, it’s vital that you analyse both the weaknesses of your agency as well as the threats it may face. In doing so, you’ll be able to fix your weak points and avoid potential threats more effectively.

Finally, business plans are important because they provide valuable data for minimising your spending. For example, during your SWOT analysis and financial planning , you may find that you’ve budgeted a large amount of spending to support a part of your business that’s actually very strong. 

In a recruitment agency, this might mean you’ve planned to spend a lot of money on marketing, but your business already has a strong brand because you (as the owner) have many good personal contacts in the industry. In this instance, you can safely reduce your marketing budget and save your business money. 

Thorough market research is the best first step when you’re writing a business plan . Market research means examining the industry your business will exist in, and finding out the needs and preferences of that industry’s consumers.

For a recruitment agency, a key research topic for your business plan would be finding out the impact COVID-19 has had on the market. Many new markets emerged during the pandemic, which you can provide your services to. As the UK is currently recovering from the pandemic, it would also be wise to look into which industries are now recruiting heavily after laying off staff in recent years.

Planning out how you’ll spend your money when starting your agency is also a key part of a good business plan. You need to consider your budget for starting the business as well as how you’ll manage your business finances going forward.

It’s smart to prepare a budget for each section of your business. For instance, you might set aside different amounts for recruiting staff, purchasing business premises, and marketing. Your advertising budget is particularly important when you’re a small business , as you may not be able to rely on personal contacts or existing clients for referrals, so you’ll need to attract clients independently.

Conducting a SWOT analysis is a great way of evaluating your business even after starting up, but it’s particularly helpful when you first put together your business plan. SWOT stands for strengths, weaknesses, opportunities and threats, so a SWOT analysis requires you to think of an example of these for your business. In a recruitment agency, these might be:

As mentioned above, it may be that you have a good reputation because you have a wealth of experience and personal connections in the recruitment industry, so you’ll not need to worry as much about marketing.

Recruitment agencies frequently have to use a lot of software to track their clients’ needs and organise candidate applications. If you’re not very good with technology, you may need to hire staff who are to account for this weakness.

The UK is currently rebounding from the struggles of the COVID-19 pandemic, and this presents a wealth of opportunities for a good recruitment agency.

You need to take immense care when you’re handling people’s personal information, which you’ll often do at a recruitment agency. Sending this information to the incorrect person can have a considerable negative impact on your business, as there is a lot of new legislation regarding privacy. 

Your business plan should include a good amount of financial planning, as tracking your cash flow (your incoming and outgoing cash) is hugely important in any business. 

Countingup is the business current account with built-in accounting software that allows you to manage all your financial data in one app. With features like automatic expense categorisation, invoicing on the go, receipt capture tools, tax estimates, and cash flow insights, you can confidently keep on top of your business finances wherever you are. 

You can also share your bookkeeping with your accountant instantly without worrying about duplication errors, data lags or inaccuracies. Seamless, simple, and straightforward! 

Find out more here .

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How to Create a Recruitment Plan (with a Template You can Use)

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When it comes to hiring, even the most successful companies can get tripped up by the complexities of recruitment. Without a clear strategy, the process can feel like a maze of job ads, interviews, and unanswered emails. This is where a well-defined recruitment plan comes into play.

A recruitment plan acts as a roadmap, ensuring your hiring efforts are organized, targeted, and aligned with your company’s broader goals. Whether you’re a global enterprise navigating large-scale growth or a mid-sized business trying to make strategic hires, a recruitment plan helps streamline the process, saving you time and resources while enhancing the candidate experience.

The real beauty of a recruitment plan lies in its ability to be tailored. From defining hiring needs and timelines to budgeting and branding, the plan provides structure without stifling flexibility. In this guide, we’ll walk you through the steps of creating an effective recruitment plan—and provide you with a template you can customize to fit your organization’s needs.

Let’s dive in and take the guesswork out of your next hiring cycle.

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What is a recruitment plan?

A recruitment plan is a comprehensive strategy designed to manage the entire hiring process from start to finish. It outlines your organization’s hiring needs, timelines, budget, and the specific steps required to attract, interview, and onboard the right talent. Think of it as a blueprint that keeps your team organized and focused, ensuring you make the best hiring decisions without wasting time or resources.

At its core, a recruitment plan brings consistency and clarity to hiring. By documenting everything—from candidate sourcing strategies to interview processes—you create a repeatable framework that can be applied to any future hiring needs. This prevents common pitfalls like rushed decisions, unqualified hires, or overextending the recruitment budget.

The value of a recruitment plan becomes even more apparent as your company grows. Larger organizations, especially those with global operations, face unique challenges like high-volume hiring or navigating international talent pools. A structured recruitment plan keeps things running smoothly, ensuring every step aligns with both immediate and long-term business goals. For mid-sized businesses, it’s a game-changer, helping maximize resources and ensuring each hire brings real value to the team.

Whether you’re looking to fill one position or a hundred, having a recruitment plan allows you to maintain control and flexibility in an ever-changing hiring environment.

The importance of a recruitment plan for enterprises and mid-sized organizations

Whether you’re leading a global enterprise or running a mid-sized business, a recruitment plan is essential for navigating the complexities of hiring. Without a well-structured plan, the process can quickly become inefficient, leading to poor hiring decisions, extended timelines, and strained resources.

For enterprises , recruitment plans are crucial for maintaining consistency across large, often dispersed teams. With multiple departments and global offices, enterprises frequently deal with high-volume hiring, and a lack of coordination can result in bottlenecks, delays, and mismatched candidates. A recruitment plan not only provides a unified strategy but also ensures that each department follows the same protocols, maintaining quality across all hires.

On the other hand, mid-sized organizations might not deal with the same scale of hiring, but they face their own unique challenges. With leaner teams and often limited budgets, these companies need to be more strategic about how they allocate resources. A recruitment plan helps ensure that every hire is well-thought-out, aligned with business goals, and justified in terms of cost and value. It allows mid-sized businesses to stay competitive without overspending or rushing into poor hiring decisions.

Whether managing a handful of new hires or hundreds, having a recruitment plan in place empowers organizations to hire faster, smarter, and more efficiently. It creates a roadmap that enables both enterprises and mid-sized businesses to scale their teams in a way that’s sustainable and aligned with long-term growth.

Steps to create a recruitment plan

Creating an effective recruitment plan involves a series of deliberate actions that guide the hiring process from start to finish. Below, we outline the key steps to help you build a plan that ensures a smooth, structured, and successful hiring cycle.

Step 1: Assess hiring needs and define goals

The first step in creating a recruitment plan is to identify your organization’s hiring needs. Start by analyzing your current workforce and forecasting future requirements. Ask yourself:

• Which roles are critical for business growth?
• Are there any upcoming projects or expansions that will require additional staffing?
• Are you aiming to reduce turnover, increase diversity, or shorten time-to-hire?

Clearly defining your hiring goals helps ensure that recruitment efforts are aligned with the broader objectives of the company. This step also lays the foundation for setting benchmarks that will guide the rest of the recruitment process.

Step 2: Create a detailed budget

A solid recruitment plan must include a clear budget. This helps ensure that your resources are allocated efficiently across the different stages of the hiring process. Your recruitment budget should account for:

• Job board postings and advertising costs.
• Sourcing tools like Applicant Tracking Systems (ATS) or LinkedIn Recruiter.
• External recruiter or agency fees.
• Employer branding efforts, including any marketing or social media costs.

Allocating a budget early on prevents overspending and helps you identify the most cost-effective channels to attract top talent.

Step 3: Select your recruitment channels

Not all recruitment channels are created equal, and selecting the right ones is crucial to finding the best candidates. Depending on the role and your organization’s needs, you may choose from a mix of internal and external channels:

• Internal channels : Employee referrals, internal mobility, and succession planning.
• External channels : Job boards like Indeed and LinkedIn, niche job sites, recruitment agencies, or social media platforms.

For high-volume hiring, enterprises may focus on internal mobility or large-scale external job postings, while mid-sized companies may rely more heavily on external networks and specialized recruitment firms.

Step 4: Build a strong employer brand

Your employer brand plays a significant role in attracting the right talent. Candidates want to work for companies whose values resonate with their own, and a strong employer brand helps you stand out in a competitive hiring market. Ensure that your branding is consistent across all platforms—your careers page, job descriptions, social media, and even employee testimonials.

Employer branding efforts should emphasize what makes your organization unique: your culture, benefits, growth opportunities, and mission. This not only attracts high-quality candidates but also ensures they align with your company’s values and work style.

Step 5: Define your selection and interview process

Once candidates are sourced, a structured interview process is key to maintaining consistency and fairness. Develop a clear outline of each interview stage, from initial screening to final offers. This might include:

• Pre-screening questions to quickly narrow down applicants.
• Specific interview rounds focused on technical skills, culture fit, or leadership potential.
• Involvement of different team members, such as HR, hiring managers, and potential team leads.

Consistency in the interview process ensures that every candidate is evaluated on the same criteria, leading to more informed hiring decisions.

Step 6: Implement and track metrics

Tracking recruitment metrics is vital to understanding the success of your plan and identifying areas for improvement. Important metrics to monitor include:

• Time-to-hire and time-to-fill: The total time taken to fill a role, from job posting to acceptance.
• Cost-per-hire : The total recruitment costs divided by the number of hires.
• Quality of hire : A measure of how well new employees meet performance expectations.
• Offer acceptance rate : The percentage of candidates who accept job offers versus those who decline.

By monitoring these metrics, you can adjust your recruitment plan to improve efficiency, cut costs, and ensure a high standard of hiring.

Use this recruitment plan template

To make your recruitment process more streamlined and organized, here’s a customizable recruitment plan template. This template covers every crucial stage, from defining your hiring goals to tracking the effectiveness of your efforts. Feel free to adapt it based on your organization’s needs, whether you’re hiring for a single role or conducting a large-scale recruitment drive.

Recruitment Plan Template

Section 1: hiring needs and objectives.

• List the specific positions to be filled (e.g., Software Engineer, Marketing Director, etc.).
• Number of hires needed for each role.
• Are you expanding a department, replacing a role, or scaling up for growth?
• Focus on goals such as improving diversity in hiring , reducing time-to-hire, or hiring for critical skills.
• Essential skills, education, and experience for each position.
• Any additional traits or cultural fit requirements.

Section 2: Recruitment timeline

• Recruitment start date:
• Target hire date:
• Key milestones (e.g., job posted, initial interviews, final interviews):
• Sourcing window: _______ days.
• Interview process: _______ days.
• Offer and negotiation window: _______ days.

Section 3: Budget allocation

• Cost for job boards (LinkedIn, Indeed, etc.).
• Cost for recruitment marketing/ads.
• Cost for recruitment software (ATS, sourcing tools).
• Career fairs or recruitment events.
• Employer branding (social media, employee testimonials, etc.).

Section 4: Sourcing strategy

• Employee referral programs.
• Promotions or internal mobility.
• Job boards (e.g., LinkedIn, Indeed).
• Niche industry-specific job boards.
• Recruitment agencies.
• Social media platforms.
• Diversity hiring platforms, alumni networks, or specific industry associations.

Section 5: Interview and selection process

• HR team members.
• Department heads or team leads.
• Other stakeholders (technical experts, leadership, etc.).
• Number of interview rounds (e.g., screening call, technical interview, cultural fit).
• Key questions or assessments for each stage.
• Any technical or behavioral tests required.
• Candidate surveys or feedback requests.
• Hiring manager evaluations for each interview stage.

Section 6: Candidate experience and employer branding

• Messaging to be included in job descriptions and interview processes.
• Employee testimonials or case studies to share during recruitment.
• Regular communication touchpoints during the interview process.
• Timely feedback to candidates at each stage.
• Setting clear expectations and timelines for candidates.

Section 7: Metrics and tracking

• Time-to-hire : Average time from job posting to offer acceptance.
• Cost-per-hire : Total costs involved divided by the number of hires.
• Offer acceptance rate : Percentage of offers accepted vs. declined.
• Candidate satisfaction : Feedback on the recruitment experience.
• Quality of hire : Measure of how well new employees perform based on initial goals and expectations.

By filling out this template, you’ll be able to maintain control over every stage of your hiring process , ensuring that nothing is left to chance. Tailor it to fit your organization’s unique hiring needs and watch how it simplifies even the most complex recruitment campaigns.

Tailoring your recruitment plan for enterprises vs. mid-sized companies

While the core structure of a recruitment plan remains consistent, the approach can vary significantly between global enterprises and mid-sized companies. Each faces unique hiring challenges, and adapting the plan to suit your organization’s size and needs is crucial for success.

For global enterprises: Scaling and managing complexity

Enterprise recruitment often deals with large-scale efforts that span multiple regions, departments, and job functions. Here are key ways to tailor the recruitment plan to meet those needs:

• High-volume hiring : Enterprises may need to fill dozens or even hundreds of positions at a time. To manage this, leverage bulk recruitment strategies, such as internal talent pools, high-volume job boards, and recruitment automatio n tools. Having a dedicated hiring team or external agencies to handle high-volume roles can ease the burden on in-house recruiters.
• Geographical diversity : Recruiting for multiple locations requires different approaches based on local job markets, legal requirements, and cultural considerations. Enterprises should customize job ads and sourcing strategies for each region, taking into account factors like language, local salary norms, and compliance.
• Employer branding across regions : With such a large reach, it’s important to maintain a consistent employer brand while allowing for regional adaptations. The key is to balance your global brand identity with the local values and norms of each hiring market. Tailoring your employer brand messaging for specific markets ensures that it resonates with local talent.
• Data-driven decisions : With access to more resources, enterprises should regularly track recruitment metrics (time-to-hire, cost-per-hire, diversity ratios) and adjust strategies based on real-time data from different regions or departments. This helps pinpoint bottlenecks and inefficiencies in the hiring process.

For mid-sized businesses: Maximizing efficiency with limited resources

While mid-sized businesses might not face the same scale of recruitment as larger enterprises, their hiring challenges are often rooted in resource constraints. Here’s how to adapt the recruitment plan for more focused, cost-effective hiring:

• Prioritize quality over quantity : Mid-sized companies typically have fewer roles to fill but must ensure that each hire is impactful. Focus recruitment efforts on finding high-quality candidates who can add real value. This means targeting niche job boards, professional associations, or specialized recruitment agencies that cater to your industry.
• Leverage employee referrals : A cost-effective strategy for smaller companies is building a robust employee referral program. Employees can help source candidates who are already familiar with the company’s culture and values, speeding up the hiring process while saving on advertising costs.
• Streamline the interview process : With smaller teams, the interview process should be efficient and focused. Instead of long multi-round interviews, mid-sized companies can create a condensed but thorough process that assesses key skills and cultural fit without dragging on. Ensuring quick decision-making can prevent losing top talent to competitors.
• Employer branding on a budget : Mid-sized businesses might not have the resources for large-scale branding efforts, but they can still build a strong presence by using social media, employee testimonials, and engagement in local or industry-specific communities. Highlight the unique benefits of working for a smaller, more agile company, such as growth opportunities and a tight-knit culture.

Tailoring your recruitment plan ensures that your organization’s unique needs are met, whether you’re scaling globally or hiring strategically for a mid-sized business. By customizing your approach, you’ll not only attract better candidates but also create a smoother, more efficient hiring process.

Tools to support your recruitment plan

1. applicant tracking systems (ats).

An Applicant Tracking System (ATS) is a vital tool for managing your recruitment process efficiently. It handles everything from job postings to candidate tracking and interview management, all in one place. For companies that want to streamline the entire recruitment lifecycle — including interview scheduling — choosing an ATS that integrates with GoodTime adds another layer of efficiency. GoodTime’s integration with leading ATS platforms allows seamless scheduling and automation, reducing the administrative burden on your team.

ATS options that integrate with GoodTime include:

• Workday : A strong enterprise solution, Workday integrates with GoodTime to streamline hiring processes for large organizations, providing both applicant tracking and scheduling automation.
• iCIMS : A comprehensive ATS, iCIMS supports high-volume hiring and integrates well with GoodTime to automate and manage complex interview scheduling.
• SmartRecruiters : Known for its ease of use, SmartRecruiters combines recruitment marketing, sourcing, and applicant tracking with smooth GoodTime integration for interview scheduling.
• Greenhouse : Known for its scalability and robust reporting, Greenhouse is ideal for enterprises. It provides strong integration with GoodTime, making interview scheduling smoother and more automated.
• Lever : Lever is great for mid-sized companies that prioritize candidate relationship management and collaborative hiring. The GoodTime integration simplifies interview coordination and scheduling.
• Jobvite : A popular platform for mid-sized and enterprise companies, Jobvite integrates with GoodTime to help automate the interview process, reduce scheduling conflicts, and improve time-to-hire.
• SAP SuccessFactors : Known for its enterprise-level HR capabilities, SuccessFactors integrates with GoodTime to offer seamless interview scheduling, helping large organizations manage recruitment across global teams.

With the right ATS and GoodTime integration, you can automate tedious scheduling tasks, manage candidates more efficiently, and improve the overall recruitment experience.

AI for more human hiring

Interview scheduling is just the start. Use human-centric AI to elevate your hiring experience while automating 90% of interview scheduling tasks — for any role, in any place, at any scale.

Bringing it all together: Build your recruitment plan today

Creating a structured recruitment plan is essential for organizations looking to streamline their hiring processes, save time, and improve the quality of hires. Whether you’re managing the complexity of a global enterprise or navigating the more focused needs of a mid-sized company, a well-thought-out recruitment plan ensures that every stage of the hiring process is aligned with your goals.

By breaking down each phase—assessing hiring needs, budgeting, sourcing candidates, and measuring success—you’ll gain more control and visibility over your recruitment efforts. The customizable template provided in this guide allows you to tailor your approach, ensuring that no detail is overlooked. Additionally, the right tools, such as an ATS integrated with GoodTime, can further simplify and optimize your workflow, freeing your team to focus on building strong relationships with candidates.

With a solid plan in place, you can confidently tackle your next hiring cycle, knowing that you’re equipped to make strategic, data-driven decisions that benefit both your organization and the candidates you bring on board. Start building your recruitment plan today, and see the positive impact it will have on your hiring process and overall business growth.

About the Author

Jake Link is a business process automation expert and Director of Content for GoodTime. He draws on over 10 years of experience in research and writing to create best-in-class resources for recruitment professionals. Since 2018, Jake's focus has been on helping businesses leverage the right mix of expert advice, process optimization, and technology to hit their goals. He is particularly knowledgeable about the use of automation and AI in enterprise talent acquisition. He regularly engages with top-tier recruitment professionals, distilling the latest trends and crafting actionable advice for TA leaders. He has advised companies in the tech, legal, healthcare, biosciences, manufacturing, and professional services sectors. Outside of work, you can find Jake exploring the coastline of Massachusetts' North Shore with his dog, Charlie.

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How to Develop a Business Plan That Will Help Your Agency Smash 2022

Creating a business plan for the year ahead is something you’d normally look forward to when running a business, but after two years of uncertainity, planning anything becomes a bit of a minefield.

But looking ahead to see the light at the end of the tunnel is good for business, and while Covid-19 has exposed any potential weaknesses in your strategy, it also highlights strengths and reveals opportunities .

Building your business plan is a good way to visualise what your agency will look like once we’re on the good side of 2021 and position yourself for future success.

Here are some things to think about when creating your 2022 recruitment agency business plan. 

Stick to a 6-month forecast

Although your forecast will be short-term, it’s a good idea to start thinking about it as early as the start of Q4 2021 as this gives you time to think strategically long term but implement short-term forecasts that won’t spell disaster if things don’t go according to plan.

Don’t base targets on last year’s results

Basing your targets on 2020’s results will give you a very skewed and confused picture. At the start of 2020, the recruitment industry was at its peak, then by April, it was one of the hardest hit industries as a result of the pandemic.

The market is now the opposite of what it was in Q1 2020. Basing your targets on results from a candidate-led market when we’re now in a job-led one will be counter-productive.

Instead, base your 2022 targets on your results from the last three months of business. Your most recent results will reflect the impact of Covid-19 on your recruitment business, and with no vaccine likely to become available until mid-2021, it’s the best forecasting data you’ll have for H1 2022.  

Be conservative with your predictions

Be conservative with your predictions but also include stretch goals to keep your recruiters motivated during periods where things pick up. Rethinking your KPIs in the context of a Covid-friendly commission scheme will be a great way to be realistic about the future.

Think about strategic hiring

If you’ve had to make redundancies due to the pandemic, hiring new recruiters might still not be an option in 2022, but what about hiring in other areas of the business that will strengthen the recruitment team you have now?

For example, could you hire a highly-skilled marketer to handle job ad promotion and company branding to get your name out there? Someone who will create a constant flow of leads for your recruiters to work so they don’t need to waste time hunting for them.

Strategic hiring like this is great to think about when your business is in recovery after a wave of redundancies and they could help you recover quicker.

Revisit your competitive power

Do any of your strengths not stand up in this new normal? Do you have to work on adjusting some things to become competitive again ?

Now is the time to start thinking strategically about the next steps for your agency.

Leave space for digital investment

If there’s one thing that Covid-19 has taught us, it’s that going digital is the best way to protect your business.

Businesses that can operate entirely online will be able to withstand another wave or even another pandemic later down the line. How can your agency pivot to adjust to the new normal? The one area you should think about investing in next year is going digital with your processes.

Rethink your business model

If you’re an agency that has relied 99% on contingency for revenue, you’ll struggle to hold up in a job-short market.

Would you consider targeting your recruiters on retained contracts instead of allowing them to continually fall back on contingency because that’s what they know? Will you start recruiting temps and contractors as well as perm?

Now is the time to take these kinds of risks to make big changes to how you do business.

The eBook below should inspire you to think about adopting a new recruitment business model in 2022. Good luck!

Katie Paterson

Katie once headed up the Firefish blog and marketing team. She now works as a freelance copywriter and continues to contribute to our award-winning blog.

Subscribe to our blog and receive top content to help you reach, engage and recruit more effectively!

Related blogs, 5 predictions of what recruitment will look like after covid-19.

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Recruiting in Covid-19: The Ultimate Guide

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