Managing Growth A Key Challenge For Recruitment Agencies in 2019
FastTrack recently held a range of interactive events across Australia and New Zealand with prospective clients to get a better understanding of the market outside their existing customer-base. A key part of the event was a live poll that helped agencies share their challenges, priorities and opportunities for 2019, which sparked some fantastic discussion.
“The number one pain point identified by recruitment agencies of all sizes was ‘managing growth’” says Jamie Killmier, Director of Sales, ANZ.
“As one attendee put it ‘we want to be able to easily open new offices when the opportunities are there. Our current software hurts our ability to grow’. Agencies of all sizes want to make it easier to open offices, brands or expand to new locales without being restricted by their software of choice”, explained Jamie.
The FastTrack Interactive events also found that more than 25% of businesses identified that finding the right candidates for client jobs is the biggest cost blow-out when it comes to running a recruitment agency. With the rising costs of advertising, as well as the increased competition for the right candidates, recruitment agencies are finding it increasingly costly to attract the right talent to fill the roles they need to.
It was also unearthed that 21% of agencies consider compliance and legislation the biggest challenge they face.
“Given the amount of compliance and legislation change in the last 12 months alone, this was not surprising. We have had Labour Hire Licencing Laws, the ATO’s Single Touch Payroll and the IRD’ Payday filing in New Zealand, for example. It’s never been harder for agencies to manage their businesses”, says Jamie.
“The feedback we had from agencies being able to share their challenges with like-minded individuals and hear they are not alone was excellent. Plus, it’s surprising how many agencies aren’t aware of the solutions there are to many of these problems.”
“To be able to show how FastTrack360 has helped support the growth of agencies of all sizes, and their legislative compliance was eye-opening for many attendees.”
The full report detailing all the findings from the FastTrack Interactive events will be distributed to attendees shortly. The FastTrack Interactive events are coming to Melbourne, Perth and Brisbane in May and June for recruitment agencies who are evaluating their software in 2019. Details are available at https://fasttrack.com.au/events/