Accountancy and Finance continues to be a vibrant and growing sector, with a wealth of opportunities for a skilled recruiter. However, competition is fierce, with a number of skill shortages reported in the industry.
If you’re planning to start a recruitment agency specialising in the sector, there are a few things you need to know:
Check Out the Competition
Before you do anything, you need to take some time to review the market. Recruitment is a competitive industry and knowing who you’re going up against is so important. Take a look at how they speak to their audience, the different sectors they operate in and specialisms they promote. Consider the kind of roles they’re hiring for and any information about the way they work with clients and candidates.
Find Your Niche
When we speak to professionals starting their own recruitment agency, we always talk about finding a niche. Look at the stats and you’ll see that accountancy and finance recruitment is a crowded market, so deciding to be all things, to all people isn’t going to make you stand out. Think about your own experience, gaps you’ve identified in the market and find space for your agency to shine.
Showcase Your Expertise
When you tell clients that you’re an expert when it comes to hiring accountancy and finance professionals, it’s essential that you demonstrate that expertise. This means speaking in a way that resonates with the audience. Using language and terms used by professionals in your industry will help you attract the high quality candidates that your clients want to employ.
Keep Costs Low
One of the best pieces of advice we can give to anyone starting their own recruitment agency, is to keep startup costs low. It can be tempting to splash out on office space or invest in all the latest technology, but higher costs can put pressure on your startup business. Starting an accountancy and finance recruitment agency does come with costs, however you can find ways to reduce those costs to give your business the best chance of success.
Invest in Marketing
Though our advice is always to keep startup costs low, you do need to invest in your marketing. This is after all the only way clients outside of your existing network will learn about you. Think about the visual look of your brand, and then about how you’re going to take that brand to market. Digital marketing channels should be your focus, however don’t ignore the benefits of offline marketing techniques, such as networking events.
Read Up on Skill Shortages
Research has found that 60% of employers feel there is a real skill shortage within the accountancy and finance sector. Brexit in particular was identified as an issue that would further widen the skills gap. Being aware of the shortage is so important as it will impact on your ability to source skilled candidates. However it can also be a plus if you find a niche in an area where other agencies might struggle to find the right people. Financial analysts for example are considered to be in hot demand!
Get Your Funding in Place
Making your first placement of a finance professional as part of your own agency will feel like the biggest win! However waiting for months to get paid doesn’t feel quite as good. This can be frustrating when you’ve become used to earning a good, regular salary. Here at New Millennia we can help. We offer 100% recruitment financing, to fill the gap between placement and payment. Click here to find out more.