Starting A Recruitment Agency
Considering starting your own recruitment agency? With experience as a successful recruitment consultant, starting your own recruitment firm will take your hard work and impeccable knack for placing skilled candidates in successful positions.
You’ll already have asked yourself why you’re setting up your recruitment business, perhaps you desire the freedom of a more flexible work life balance or perhaps it is an ambition to earn and work on your own terms which drives you. However you have reached your decision to take the leap of faith you can be sure that New Millennia will be there to support you in your venture.
What Is A Recruitment Agency?
A recruitment agency is a specialised organisation that assists businesses in hiring suitable candidates for their job openings. Recruitment agencies will be hired by companies and the agency will act as an intermediary between the company and potential candidates to streamline the hiring process.
Companies outsource recruitment because it takes a lot of resources in order to find the best talent, and recruitment agencies will have the expertise to find the best candidates for the specific job role. By leveraging their expertise and extensive networks, recruitment agencies will actively find and shortlist candidates based on the specific job requirements that businesses have provided for them. Recruitment agencies use various methods such as advertising and networking to find potential candidates and some recruitment agencies may offer additional services like managing background checks and conducting interviews.
Recruitment agencies are experts in their industry and have access to a wide range of talented candidates and they provide invaluable support to businesses looking to hire new employees.
Should You Start A Recruitment Agency?
Starting a recruitment agency from scratch can be challenging and demands a wide range of skills and expertise however it also offers numerous rewards. If you are thinking of starting a recruitment agency, it is important to think about the challenges and rewards.
One of the main challenges when starting a recruitment agency is the competitive nature of the industry. A lot of successful recruitment agencies are started by recruitment professionals who have experience working in the industry who have the necessary skills to start a recruitment agency so it can be a difficult market for newcomers to enter. Additionally, building a robust network of clients and candidates can take time and effort.
Despite the challenges that come with starting a recruitment agency, there are also many benefits. Having the opportunity to connect talented individuals with their dream job can be extremely fulfilling. Plus, a successful recruitment agency can bring financial stability and growth. Starting a recruitment agency requires careful consideration and at New Millennia we can help you start up a successful recruitment agency.
Recruitment Start-up Costs To Consider
Starting a recruitment agency requires many different funds and it is important that you map out your costs before starting up a recruitment agency.
Start up costs that you will need to consider could include:
- Creating a website
- Branding/ advertising
- Office space
- Subscription fees
- IT infrastructure
- Employee salaries
It is important that you are confident when mapping out your business plan and outsourcing bespoke startup support including financial support and financial security can be invaluable when setting up a recruitment agency.
Supporting Your Recruitment Agency
At New Millennia, we specialise in providing back office and funding for startup recruitment agencies. Our bespoke offering provides startup support, the financial & commercial security that your startup recruitment firm requires, leaving you free to offer the highest quality service to your clients and provide quality candidates.
A strong start is important for a start-up; the team at New Millennia and the tools available to you will help this become a reality.
Save time and limit your workload with assistance in payroll management, processing online timesheets, handling worker enquiries, producing payslips and P45s, handling enquiries from Inland Revenue and more. In addition to all of this, your temps and clients can all access their own timesheets and invoicing on their own personal portals. If you are looking for flexibility, you’ve found it on our online platform.
We also strive to offer you security with our funding, bridging the gaps between incomings and outgoings, gaps which can occur all too often for startup temp agencies. As payroll specialists we can accommodate a wide variety of payment methods (PAYE, Limited Contractors, Intermediaries and CIS), if the necessary paperwork is signed, we can do it!
Why Choose New Millenia?
We have worked in the recruitment industry for over 19 years, we work intimately with new start-ups and have an acute understanding of the back office processes and their importance in your business, especially a temp agency, which is our specific area of expertise.
A genuine 100% risk free solution.
We understand startups at New Millennia, we understand the expense that can be incurred when setting up and know that a new recruitment agency may wish to keep costs to a minimum. Outsourcing payroll, invoicing and credit control, which can also prove time consuming tasks, may therefore be preferable than investing in keeping this in house. We offer a simple, effective solution all under one roof, streamlining your systems and allowing for no unnecessary distractions when building your successful recruitment agency.
What You Can Expect
Most importantly, you won’t be alone, as part of the start-up support network which New Millennia provides, you have a personally dedicated team to guide you as you grow and become well acquainted with the system.
Our Operations Director Paul O’Rourke who heads up the team and has exceptional recruitment experience will personally come to meet with you to discuss the details before your recruitment firm joins us.
Overall, you can expect a well rounded funding solution, support across the board and increased efficiency of your back office; we believe that if you follow our 3 fundamental steps to success you can’t go wrong;
- Obtain credit against your client
- Get the relevant terms signed
- Have a signed timesheet
Contact us today to start your recruitment agency!