It’s been an amazing couple of months here at The Recruitment Network HQ, spending quality time with members of The Recruitment Network, evolving their business strategies and supporting their growth aligned ever-changing economic landscape we are facing. The industry is buzzing at the moment with opportunity and it is so great to see so many recruitment businesses embracing this.
… and when I say embrace this, I don’t mean sitting around board rooms navel-gazing and chewing over possible future plans, but about getting out there and implementing new strategies and initiatives now that create meaningful and sustainable results at a time when the markets are crying out for it.
This is about turning words into actions.
Just yesterday, as an example, we completed the first stage of a new account penetration programme that we rolled out with one of The Recruitment Network members yesterday and have seen some incredible success stories already, just thirty days since launching the project, affectionately known internally as “Operation Goldmine”.
After analysing a series of data in their business using our lean account development tools, we identified a number of pockets of opportunity that were being overlooked by the business. In fact, we came up with over 420 clients where there was significant growth opportunities that were simply being missed!Armed with this data, and some new business development tools, we set about segmenting this client base of 420 and distributed them out to three different teams in the business to target for the next 30 days.
Yesterday, each of the three teams presented back their results to date, results just relating to the clients identified as part of the project:
– Team One – focused on a target group of 36 clients. In just 30 days, they managed to set-up 18 new meetings and brought on 9 new jobs.
– Team Two – focused on a target group of 39 clients. They set-up 14 new meetings and brought on 12 new jobs.
– Team Three – focused on a target group of 33 clients. They set up 20 meetings and brought on 20 new jobs from 14 different clients.
5 placements have already been made, with more to come in over the next 2 to 3 weeks and they are now in discussions about 3 new and very exciting RPO opportunities with 3 of the largest clients in their market!
So that’s a total of 35 new jobs that they wouldn’t have had, in just 30 days. If we presume they convert 45% of those (based on their current conversion ratios) and at an average deal size of £8,000, that equates to over £125,000 of new business that would have otherwise been overlooked.
The project continues now into month 2, with another 54 new clients from the project now added to their target lists for November, so we would hope to see a continuation of these results coming through leading up to Christmas and then into the new year.
Yes, we spent the time understanding the data, analysing their client universe and developing the strategy – that was crucial. But then the focus became on driving activity and implementation to create the results.
As we gear up for our next www.therecruitmentnetworkclub.com members’ meeting in November at the OXO Tower in London, where Tony Goodwin, Toby Babb, Graham Palfery-Smith, Kevin Green, Robin Sieger, Anna Hemmings, Gordon Stoddart and others will be working with our members to design their growth strategies for 2017, so too will our focus and processes after the meeting turn to supporting our members to implement and drive through these strategies across their businesses so we can continue to report some very measurable and very significant success stories across the network over the next few months.
This is about turning words into actions!