Starting a Recruitment Agency

You’ll already have asked yourself why you’re setting up your recruitment business, perhaps you desire the freedom of a more flexible work life balance or perhaps it is an ambition to earn and work on your own terms which drives you. However you have reached your decision to take the leap of faith you can be sure that New Millennia will be there to support you in your venture.

Companies outsource recruitment because it takes a lot of resources in order to find the best talent, and recruitment agencies will have the expertise to find the best candidates for the specific job role. By leveraging their expertise and extensive networks, recruitment agencies will actively find and shortlist candidates based on the specific job requirements that businesses have provided for them. Recruitment agencies use various methods such as advertising and networking to find potential candidates and some recruitment agencies may offer additional services like managing background checks and conducting interviews. 

Recruitment agencies are experts in their industry and have access to a wide range of talented candidates and they provide invaluable support to businesses looking to hire new employees.

One of the main challenges when starting a recruitment agency is the competitive nature of the industry. A lot of successful recruitment agencies are started by recruitment professionals who have experience working in the industry who have the necessary skills to start a recruitment agency so it can be a difficult market for newcomers to enter. Additionally, building a robust network of clients and candidates can take time and effort. 

Despite the challenges that come with starting a recruitment agency, there are also many benefits. Having the opportunity to connect talented individuals with their dream job can be extremely fulfilling. Plus, a successful recruitment agency can bring financial stability and growth. Starting a recruitment agency requires careful consideration and at New Millennia we can help you start up a successful recruitment agency.

Start up costs that you will need to consider could include: 

• Creating a website 
• Branding/ advertising 
• Office space 
• Subscription fees 
• IT infrastructure 
• Employee salaries 

It is important that you are confident when mapping out your business plan and outsourcing bespoke startup support including financial support and financial security can be invaluable when setting up a recruitment agency. 

A strong start is important for a start-up; the team at New Millennia and the tools available to you will help this become a reality.

Save time and limit your workload with assistance in payroll management, processing online timesheets, handling worker enquiries, producing payslips and P45s, handling enquiries from Inland Revenue and more. In addition to all of this, your temps and clients can all access their own timesheets and invoicing on their own personal portals. If you are looking for flexibility, you’ve found it on our online platform.

We also strive to offer you security with our funding, bridging the gaps between incomings and outgoings, gaps which can occur all too often for startup temp agencies. As payroll specialists we can accommodate a wide variety of payment methods (PAYE, Limited Contractors, Intermediaries and CIS), if the necessary paperwork is signed, we can do it!

A genuine 100% risk free solution.

We understand startups at New Millennia, we understand the expense that can be incurred when setting up and know that a new recruitment agency may wish to keep costs to a minimum. Outsourcing payroll, invoicing and credit control, which can also prove time consuming tasks, may therefore be preferable than investing in keeping this in house. We offer a simple, effective solution all under one roof, streamlining your systems and allowing for no unnecessary distractions when building your successful recruitment agency.

Our Operations Director Paul O’Rourke who heads up the team and has exceptional recruitment experience will personally come to meet with you to discuss the details before your recruitment firm joins us.

Overall, you can expect a well rounded funding solution, support across the board and increased efficiency of your back office; we believe that if you follow our 3 fundamental steps to success you can’t go wrong;

• Obtain credit against your client
• Get the relevant terms signed
• Have a signed timesheet

Contact us today to start your recruitment agency!

Related Articles: 

• 3 Tips For For Startup Recruitment Agencies
• 5 Recruitment Agency Startup Costs You Need To Budget For
• 5 Mistakes To Avoid When Starting Your Own Recruitment Agency 
• How To Boost Your Cash Flow As A Startup or SME Recruitment Agency