Introduction
With the evolving economic landscape, staying competitive requires strategic adjustments and forward-thinking approaches.
The REC has reported that in July, temp billings experienced a slight decline as firms opted not to renew or replace expiring temporary contracts, which hasn’t been a very hopeful situation for agencies that specialise in filling temp bookings.
So in this blog post, we’re here to help and will explore three key strategies that can help your agency thrive during this period.
1. Make Use of Technology for Efficient Matching and Management
If you want to be a future-forward agency, you should always consider how the latest tech can help you streamline your hiring and gain competitive advantage.
With the introduction of so much AI technology this year, it’s a no-brainer to implement these time-saving solutions to your business. This will not only impress your clients and candidates, but allow you to create efficient processes.
In terms of your recruitment processes, there’s a few ways in which AI can help you. One way includes candidate assessments. By using AI to quickly and accurately match temporary workers with roles, agencies can reduce the time spent on manual evaluations and increase placement precision.
Well-established organisation PwC employs AI for candidate assessments by using machine learning algorithms to analyse language, tone of voice, and facial expressions during evaluations.
When you meet with candidates and have remote calls with them, an AI meeting note taker can help you easily summarise their skillset and all their important information without having to type a single word. Otter.AI and Fireflies.AI are some popular examples of these.
As any recruiter will know, your business only flourishes as much as your network allows it to. So to build that network, you’ll need a good marketing strategy in place. Marketing-wise, AI can help you with a number of tasks – from providing content ideas, copywriting, target audience research and more. It’s worth taking a look at AI directories such as futurepedia.io to see what tools can help you.
Finally, one of the most crucial tech tools you need to invest in is a recruitment CRM or Recruitment Management Software. Designed to streamline the entire recruitment process from onboarding and management to payroll, it’s a no-brainer investment.
2. Strengthen Relationships: Enhance Candidate & Client Retention
While the summertime typically brings a slower business period, it’s a great time to enhance your candidate and client retention. There are a few ways you can do this:
Personalise Communication
Establishing a strategy that keeps your temp workers and your clients up to speed and informed at all times is no small feat. But it definitely helps when you’ve got recruitment management software and email marketing software to help you mass communicate.
By automating communication, you can send booking invites and confirmations in just one click. With the addition of customisable templates, PrimePRO ensures that communication is sent just how you like it.
Marketing email software can also help you keep a light-hearted and personable relationship with your contacts. Opt for a monthly newsletter that rounds up any team spotlights or updates, and use it to highlight any recent achievements or great feedback while providing insight into a recent trend or thought-leadership piece.
One-time offers
Offering a discount sounds more like an e-commerce strategy rather than a B2B strategy, but it’s well worth trying if you find business is slower than usual. Here are some ideas on how you can engage more clients:
- First Placement Discount: Offer a percentage off the first temporary placement service for new clients.
- Volume Discount: Provide a discount for clients who commit to filling multiple temporary positions at once or over a certain period.
- Loyalty Bonus: Give a one-time discount to long-term clients when they reach a certain number of placements or hours worked by temps.
- Referral Discount: Offer a discount on the next placement for clients who refer new businesses to the agency.
There are also ways to retain your candidates:
- Training and Development Voucher: Give candidates a free or discounted professional development course, training day or certification after they complete their first assignment. This not only adds value to their career but also builds loyalty to your agency.
- Early Bird Bonus: Offer an extra bonus to candidates who accept and start assignments within a short notice period. This helps fill urgent roles quickly and rewards candidates for their flexibility.
- Referral Reward: Provide a one-time bonus or incentive for candidates who refer a friend or colleague to your agency, especially if the referral successfully completes an assignment. This can help expand your candidate pool while rewarding existing candidates.
- Loyalty Reward: Implement a one-time loyalty bonus for candidates who have been consistently working with your agency over a certain period. This could be in the form of a cash bonus, a gift card, or even a small token of appreciation like a branded item.
- Seasonal gifts: Go one step further and enhance your relationships by showing appreciation to your temp workforce with small seasonal gifts.
Feedback channels
You must never, ever forget to request reviews.
Reviews are a testimony to your hard work and effort, and open the door to more business from people who are unknown to your services, so make sure you’re remembering to ask for them!
To create an easier process for yourself, why not automate an email asking for feedback? Or, write the review yourself and ask the client if they’re happy with what’s written. Set yourself a target of 2 new reviews a month so you’re always on top of it.
3. Expand Market Reach
Lastly, make the most out of the rest of 2024 by expanding your market reach. You can do this in the following ways:
Client Relationship Management
As we’ve already touched on, enhancing these relationships will allow you to grow further and stay competitive. Regular check-ins, tailored solutions, and proactive communication can help you understand and anticipate your clients’ evolving needs.
For example, using software like PrimePRO will allow you to elevate your client relationship management by setting follow up reminders, search for client contacts, mass communicate to clients and prospects and utilise useful rep. One example is PrimePRO’s online timesheet approval feature enables clients to log in, edit, and approve timesheets effortlessly, moving away from paperwork to a more modern, paperless approach.
Once timesheets are approved, they’re integrated into your payroll and billing systems, eliminating hours of manual administrative work each week. This automation reduces errors in payroll and invoicing, which enhances your agency’s reliability and efficiency.
New Industry Segments
As industries evolve and new sectors emerge, so do the demands for temporary staffing. Identifying and targeting these growing industries—such as tech startups, healthcare, renewable energy, or remote work opportunities—can help you diversify your client base.
For instance, recent research by Simply Business has touched on how the construction industry is facing a critical skills shortage, with a 35% decline in new tradespeople choosing self-employment since 2019. This might be a sign to consider expanding into new markets if this is currently your only offering.
Enhanced Service Offerings
Diversifying your service offerings allows you to better meet the changing needs of your clients. Consider adding specialised temp services, such as project-based staffing or highly skilled temporary roles, to cater to niche markets.
Conclusion
As we move through the second half of 2024, temp recruitment agencies must adapt to stay ahead in a competitive market.
By embracing technology for efficient recruitment, strengthening relationships with candidates and clients, and expanding into new markets and services, your agency can not only survive but thrive.
Implementing these strategies will ensure that your agency remains agile, relevant, and prepared to seize new opportunities in the ever-changing recruitment landscape. If you’re looking to stay competitive by utilising software that will impress both your candidates and clients, then reach out to the PrimePRO team for a demo today.
