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There is a lot of money to be made in the recruitment industry, but you can only make it if you know what you are good at and can do it well.
For example, the recruitment industry has many niche markets to choose from. They range from finance to catering, engineering to sales. It encompasses everything from temporary work to permanent positions.
So, it is better to specialise and know where your focus is. Most successful recruitment agencies are doing it that way. There are two ways of tapping into this industry. You can start your own recruitment agency or buy a franchise.
Recruitment agencies provide an essential service with regard to work and employment. As a recruitment agency you will be helping employers find good staff and vice versa. You also save employers a lot of time and effort by finding and qualifying potential candidates.
If you know what you are doing, you might find yourself with hundreds of businesses and thousands of individuals as clients. So, education is very important if you are to run a recruitment business since you will be offering a specialised service.
The most common types of recruitment agencies are the ones that hire out permanent, temporary or contract-based staff in different job categories. It is a supply and demand industry.
Your role is to liaise between employers and employees with a view to finding a perfect fit. When an appointment goes well, the praise is twofold, but if it does not work, you are exposed to double criticism.
It is not an easy business, though. When you start up you sell yourself, which includes a lot of cold calling followed by face-to -face meetings. These demand good communication skills.
Just like in all businesses, you will have to retain current clients, while you are looking for more.
One good thing about the recruitment agency industry is that start-up costs are low. You need a computer with Internet access and software to build your database of employers and employees.
You will also need a telephone with a business number, copier, scanner and fax machine. If there is an online component to your business, website setup and management are needed.
With regard to traits a recruitment agent should have, you must be a good judge of character. Sending out workers that do not have a good work ethic can result in damage to your business.
You need good organisational skills to keep track of where workers are at any given time. Your listening skills must also be good in order to listen to potential workers as you interview them.
Remember, choosing the right job for potential workers depends on insights into their character and personal needs.
How do you make your money as a recruitment agency? By charging employers commission as a percentage of the salary or fees that will be paid to the candidate or employee. The higher the salary, the higher the reward for the recruitment agency.