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Setting Goals To Scale Your Recruitment Growth This Year
Posted by Nicky Coffin
Setting goals to scale your recruitment business growth this year will be pivotal to your success. Your VISION will articulate what your recruitment business will look like in the future, it will be idealistic; Something that is not the finished article, and that continues to grow
With a clear and successfully communicated vision everybody embraces; organisations have a clear focus and grounding when they are making decisions and employees will feel part of something bigger than their individual position
Your role as a leader is to hold a vision for yourself and for your team that is so compelling it influences the way that you live and act moment by moment, day by day.
What Goals Work In Recruitment?
Ideal goals are things like your results – turnover and profit, growth, client’s results, candidate results team and profile.
When you are setting your 12-month goals, I suggest our clients split these into six main areas.
What Turnover, Profit, number of placements needed, number of buying clients per consultant, % profit, % credits, average fee level
What new divisions will you have? What will be the average consultant billings? Number of buying clients needed to hit your turnover target. % existing business development, % of new business development?
Niches, geography? Number of buying clients, growth of existing business, new service offerings? Key account development – how many, average spend? Supplier of choice? Senior appointments? multi-contacts in clients? % excellence in service review?
Niche, geography? Candidate attraction, retention and growth – what measures? new service offerings? % candidates from non-advertising? Candidate control and matching measurements? Number of quality candidates?
Head count, retention %, consultant skill levels, new hires, succession planning, niches, location, incentives, hierarchy.
Awards, reputation, branding, network, marketing?
Here are some further questions that will help you to get clarity on your 12-month goals and vision.
1. Imagine that it is one year from today and it has been your best year yet… What would you be celebrating this time next year specifically?
2. Where do you want your business to be in one year’s time? In two years’, time?
3. At the end of the year, how will you define ‘success’ in relation to your business
4. If everything goes well, what will the business look like in 12 months’ time
5. What are some of the longer-term outcomes for your business?
So how do make sure that your daily and weekly actions are aligned with your key results?
First step with is it to decide what ONE goal you want to achieve that will bring you the best results.
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Identifying The One Result
So, looking at your goals you want to achieve for the next 12 months – I would like you to choose the one goal, that when you achieve it would give you 80%+ results – or have the biggest impact on your teams results.
The reason I’m suggesting you pick one thing you are more likely to be able to focus on it. It’s simple, and time effective and you know by doing this will bring you back results. This is the One Thing that you are going to drive within your team for the next 3 -6 months… we want to get rid of 80% noise that gives you 20% or less return – start to change your habit of swapping and changing.
Here are some ideas to consider that past clients have used.
- To develop our contractor base by 50%
- Increase average consultant billings to £180k by Sep
- Increase number of quality candidates registered and worked by 40%
- Get 90% of clients paying 23%+ fees by July
Your team will focus on what you talk about and so if you can pick one thing that you know that if they did that would bring good results, this is the thing to start banging the drum about consistently.
In our business it was first interviews and I can honestly say, probably for about 12 months, maybe even longer, I talked about where are we going to get first interviews, how are we going to get more first interviews, we had competitions around first interviews, we had team meetings that talked about how do we increase our first interviews, I had to morph the first interview focus in thousands of different guises but that one target achievement netted us in 12 months an extra million pounds revenue and the drum I was banging was how to increase our first interviews because I knew that every seven first interviews that we did, we’d make a placement.
Then ask yourself these questions
- What do you want to achieve specifically (make sure it’s positive focused and specific)
- How can you achieve this?
- What important things must you make happen with your team in order to convert this
aspiration into a reality?
- What do you intend to do to drive/ achieve this goal?
- What are the major obstacles and how will you overcome them?
- What’s missing? Where can you add more value?
- What is the competition doing well that you could model?
Now you should start to have a picture of how you are going to achieve this goal.
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Use 90 Day Planning
We want to keep this simple, so that you know what you are focusing on today, this week and the tool I use to do this is the 90-day plan.
The 90-day planning system will help you to get really clear on what are those little things are that you are going to be doing consistently and then how to make sure that you follow through. This part is the difference between achieving your goals or not…
When you are doing this, I would encourage you to take your big picture goal, your 12-month goal and focus on the next 90 days only.
Imagine it’s – April 6th and you’ve had the best 3 months – what do you see, here, what’s happening?
You then take this 90-day plan and highlight the key priorities and ask yourself, with each key priority what are the actions that I need to take consistently to guarantee I achieve this key priority?
When you have worked through all your key priorities, you will have a list of actions that you need to take over the next 90 days. The key thing to remember is that not all of these actions need to happen immediately – you’ve got 90 days to complete them – however there will be some things that you need to be doing each and every week to guarantee that you achieve your 90 day goal.
So therefore, you need to review your 90-day actions list each week to decide the 3 most important things for you to get completed.
This tool is extremely effective – the clients that use this process personally and within their business have sky rocketed their results, have more time to spend doing things they love and are working less; so I’d encourage you to do a 90 day plan with yourself and each of your team.
Couple of things to remember to have in your 90 plans:
- Make sure you review your 90-day plan weekly and daily and reset it each quarter
- If it’s not in your 90-day plan – stop it!!!
- Make sure you have added in specific and measurable KPIs and results – i.e. numbers
interviews, jobs, placement numbers, CV’s sent, client visits to hit your financial targets
Ready to Get Started?
I hope so because following a goal setting plan like this could completely change your results this year. If you would like our personal help to shift your results exponentially in 2020 you can apply for one of our profit accelerator calls here.
Nick and Katy