No one needs reminding that 2020 has been a rollercoaster ride of a year.
The events of the past 12 months have affected every corner of the economy in some way. The recruitment industry, in particular, has felt the impact of the pandemic.
But, we are starting to see light at the end of the tunnel. And while 2020 has taught us that things can turn on a knife edge, planning ahead is the key to building business resilience and being prepared for what the future may have in store.
With this in mind, here are six strategies for approaching business goals for your recruitment agency in 2021:
Revisit your long term goals and objectives
The first step is to review your progress in 2020.
Chances are the year didn’t really pan out as expected. But where are you now, compared to January 2020?
Spend some time taking a step back and re-assessing where you’re heading, and why. It’s important that you’re realistic about the current status of your business and the future outlook.
That’s not to say you need to change your long term goals and objectives. The goals and objectives may not need to change, but the timescales might.
Make sure all your goals are specific
Whether you’re re-assessing existing goals and objectives — or setting new ones — always make sure they’re tangible.
Vague targets for your recruitment business may lead to a lack of clarity as to whether you’ve achieved them, or even worse, not provide the incentive to push yourself in the way that specific goals might.
Review your outgoings
Are there ways you could reduce your outgoings for 2021, or perhaps there are places you really need to invest?
For example, working from home permanently could be a consideration for 2021 – if you can stay productive, it might mean you can drop the office lease from your list of outgoings.
It’s important that you put your business in a position where you can be agile and adaptive to changes in the marketplace. Being thrifty with spending will help with that – and don’t forget there are cashflow options for recruitment agencies available.
Analyse your marketing spend
Take a look in particular at your marketing spend, where have you spent and what return did you receive?
Armed with that information, you can decide where to spend your money in the coming year and what goals you want to apply to each aspect of your marketing.
Assess your relationships
The pandemic has hit everyone hard, but some more than others, and everyone in a uniquely different way. For some it has simply meant more time at home with family, for others it has meant losing loved ones or their livelihood.
Sensitively reach out to your clients and try and gauge their potential business for 2021, to help you assess the value of your client list.
Establish short, medium and long term goals
Having looked at what you achieved in 2020, compared to your business goals at the start of the year, build the strategy and plan on how you will progress towards your long term goals in 2021.
Break down the long term goals into smaller, short term goals. And then, identify the work that will be needed to hit them.
What do your goals look like when broken down monthly, weekly, daily? What will you need to do to achieve your targets? What are the KPIs that will ensure you’ll be on track to hit short, medium and long term goals?
You may even want to go further and implement a strategy for each short, medium and long term goal.
2021 feels completely unknown at the moment, but get a plan in place and it’s yours for the taking.