Is fear stopping your recruitment agency from growing?

“There is just one thing that makes your dreams become impossible,” said author Paul Coelho in his novel, The Alchemist; “the fear of failure”. But while it’s easy for individuals to dream big with their personal ambitions, there is a lot more at stake for business owners.
The recruitment sector in particular can be a fearsome place at times. Competition is intense, loyalty is low, and the rise of new automation tools are leading some talented staff to feel like their job is under threat.
However, rather than being afraid of change, embracing evolution can be critical to recruitment agency success. The challenge is being able to sift through all the trends and technologies to identify which ones matter most – and could yield the most benefit.
Understanding the next big industry innovations is a topic we discuss in our latest whitepaper, The Future of Recruitment, and how tackling a fear of technology could have a significant impact on your business growth. Let’s look more closely at the benefits…

Life in the fourth industrial revolution

One fundamental thing all recruitment agencies need to understand is that we are in an age where tech matters more than ever before. Some industry experts have even termed this the ‘fourth industrial revolution’, in which man and machine work together to improve performance.
This is certainly true of recruitment technology. Rather than replacing the traditional workforce, digital software is complementing human skill, to create a more effective way of working. Some good examples of people and technology working together in recruitment include:

• Finding new talent – as we discussed in our recent blog on innovating the talent searching process, Artificial Intelligence (AI) is making data analysis even stronger, helping to identify the right candidates for each contract without the need for manual management
• Building on the blockchain – secure infrastructures like the blockchain are enabling contractors to control their data more closely than previously, evolving recruiters’ role to that of a football manager in terms of negotiating deals – rather than holding the keys to the recruitment data kingdom
• Operation automation – instead of wasting lots of time managing timesheets, expenses and invoicing by hand, automation technologies are enabling recruitment agencies to focus on high value activities, with everyday operations running smoothly in the background

Although these are just three individual examples, they demonstrate the broad spectrum of impact that technology is having on recruitment agency relationships and processes. And in many cases, this innovation is making life easier for employees at the same time.

Blinded by choice?

With so many solutions entering the market, it is easy to see why a fear of making a poor move may deter recruitment agencies from embracing change. However, letting fear stop you from growing may end up being the worst move of all, as other businesses in the industry have the confidence to explore new technologies and move ahead of the competition.
Many industry leaders have already adopted the recruitment back office software we discussed earlier, for example, using it to automate regular processes such as timesheets, expenses and invoicing. By turning over repetitive processes to smart technology, their workforce is able to concentrate on the business development tasks that only skilled humans carry out.
It’s impossible for us to predict the future, but we can quite confidently state that those recruitment agencies that want to stand still will find themselves being left behind. Change and evolution is a necessary part of growth, and embracing new developments and trends being powered by technology is the only way for recruiters to run a stronger, smarter, more efficient business.
Download our whitepaper on The Future of Recruitment for more discussion of our industry’s emerging trends.