Key takeaways from "New Dawn" webinar;
Simon Lewis, Host, Chris Moore, Chairman of the REC, and Una McGuinness, Business Consultant and Advisor.
Now is the time to look at your business, I think we have asked this question before; what is niggling you, what doesn't fit, you have probably known about it for a while, but not had the impetus/desire to change it.
Don't take back into the business things that didn't work well previously. This issue might be a sector/team, people, clients, a supplier relationship etc.
- Re-focus - what does the world now look like, which job functions are to be in demand. Healthcare, some areas of IT and technology, Food, Contact work, just a few examples of sectors, many are thriving. Can or do any of your functions serve them? Some jobs will diminish as the way we work changes forever. Think about your specialism, do you need to increase your focus into an 'in-demand area?'
- Larger Recruitment companies - increasing pressure to hold their positions, family-run and smaller businesses can afford to be much more agile.
- Agility is vital; however, you don't have to rush to change products and services. Look at the people you serve, what are their challenges - what do they want? Now is the time to get very close to your clients. Do you want to re-invent your business model?
- Deepen your specialism; a niche is excellent and powerful. Brainstorm; Where ca you can add value to your clients and candidates – it may be something you can deliver when some of your furloughed staff return?
- Client Engagement is critical; Now is the time to be talking to your clients, to try and understand their businesses, what are they doing in this next phase? How will their actions affect their staffing requirements? What do they anticipate the recovery phase to be, how will their business look in 3-6 months?
- Where is the opportunity to get better with what we have got? Maybe review the last two years trading - plot on an axis, the salary you place at on one axis, the GP fee on the other. Where are your clusters - are they were you expected them to be?
- What are the opportunities? If you want volume at lower fees (all fees will be under pressure) - then you need a smaller cost delivery model, i.e. resourcing function, which can be highly effective and successful.
- If you wish to move up the ladder and serve your niche at the senior end - there are considerations;
- What types of conversations do you need to be having with clients?
- Who in the business has the skills to do this?
- What is the process? What is the added value? How will you scope the market? What are the benefits to your clients to use you for these roles? How will you market this to your existing/new clients? There needs to be a plan to make this happen.
- Recruitment and the future of the office environment? Should the standard be; remote, hybrid, or co-located? Lots of businesses giving notice on their office space. What are the plans to return, how do we work with our staff who might be fearful of returning and have a preference for working from home? The question of Culture, new recruits, training, feeling of isolation, challenge with creativity all come into play. We have an opportunity to create a better world of work – that works for our business and our people.