Whilst Companies House showed close to 40,000 UK registered recruitment consultancies in 2019, Talint International estimates that there were actually a maximum of 20,000 fully functioning businesses operating in the sector…employing 148,000 people.
Simple maths tells us that the average number people employed by a UK recruiter in 2019 was eight. In reality we know that this number is inflated – a relatively small number of companies [825] have a turnover in excess of GBP 5m and are ‘large’ employers.
So how do you take a high performing recruitment business and grow it beyond the capability and capacity of its founders and a small number of employees?
A founder’s ability to transition from entrepreneurial recruiter to business leader is fundamental to achieving sustainable growth in profit and equity value. Most owners fail in this respect and never see their companies grow in a meaningful way.
Our advisory team help recruitment leaders successfully navigate this particular journey. Here is one example of how we do it.
“As the business owner, I have benefitted from massive pressure release with Hyvve’s advice, input, streamlining and recommendations.
The key for me is Hyvve’s operational approach. I didn’t want a high level management consultant – I needed hands on advisers and that’s exactly what Hyvve does – they are an extension of our business.
We are now well positioned to see sustainable, profitable growth to realise my personal goals.”
Founder and CEO, Global Mining Search Firm
The founder of an executive search firm focussed on the global mining industry was looking to scale the business across existing and new international locations, balancing the dichotomy of a booming market and the impact of Covid.
The owner, a mining industry entrepreneur, was also looking at his own evolution, recognising that taking the business to the next level was only going to be possible if he could move from being ‘everything to everyone’ to creating more structure and autonomy for his staff.
We worked closely with the client to define his goals and objectives for the business before developing a business strategy and plan that would inform its future growth.
The outcome was a clear roadmap that enables our client to grow the business and stand out in a flooded marketplace. Monthly meetings with Hyvve combine reviewing performance against plan and brainstorming business challenges.
Our client has a sounding board – through regular communication with Hyvve he benefits from checks and balances against his natural entrepreneurial vigour. He has benefitted from assistance in hiring key staff, objection handling on massive deal negotiations and material input to funding new location growth.
Every aspect of the business is better organised and the company is well positioned to scale up. Financial performance has already improved and the outlook is positive.
For more information and case studies of how Hyvve has helped recruitment leaders take their businesses to the next level, please get in touch.
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