Setting up for Success in 2024: A Proactive Approach to Strategic Planning and Growth
Alison Humphries Hon FREC
??Award winning NED and strategic advisor. Working with recruitment business owners to help them achieve their objectives profitably, sustainably and authentically
In Spring last year, I started working with a client who ran a small business (25 staff) placing tech infrastructure and UX specialists. They’d done pretty well during the job-rich year of 2022, and the owner was ambitious for 2023.
In fact, he wanted to increase net profit by 50%. His cost base for candidate generation and marketing had risen a lot, so he had calculated that he should be able to achieve this with a 20% increase to headcount, as his less experienced hires would become more productive and his investment in his tech stack started to produce returns.
About this time last year, he told me that he had presented the new sales budget and the “future organogram” to the team. Everyone, he said, was totally pumped. He saw no reason to revisit it with the team.
I am sure they were pumped. In their boss’s presentation, they just saw more of what they knew.
More people filling more jobs, generated by more marketing, and filled with more candidates from advertising.
Producing more commission.
I asked about the meeting. He told me he hadn’t wanted to clutter the meeting with too much detail.
So everyone left that (short) meeting and went back to their desks to do exactly what they did in 2022.
Of course, 2023 did not work out so well for them.
This year, he has a slightly smaller team, and a much closer eye on profit. What’s he going to do differently in that meeting this year?
That’s quite detailed- it includes new markets and territories.
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Better account development.
Enhanced lead and referral gathering.
2. Second, he is going to have to cut some non-productive spending. After a review, for example, we decided to keep in conferences (expensive) and reduce job ad spend, because we had in excess of 40,000 candidates in staff inboxes and on the CRM who had no contact with us for at least 6 months. Some of these candidates had been shortlisted for our jobs in 2023, and never contacted again.
3. Third, this time we have made a detailed plan about what sales processes (and yes, a limited number of important KPIs) we expect. We’ve already scheduled training to support this.
4. He then made time for all the staff to discuss in small groups with their manager how they would need to change. Written down.
5. Finally, we’ve built the big goals (and our progress) into management meetings, staff reviews, and sales reports.
I think he’s much better positioned this year than last.
The “big picture” needs detail.
If you haven’t thought through the detail, and would like experienced support, reach out to Alison Humphries today; a seasoned and award-winning NED to recruitment business owners and directors.
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1 年Really good article and I come across this lots also. Many companies have low paid telephone / linkedin appointment makers doing sales and wonder why they dont hit targets. I always start off the plans with what is the end of year target. Then work backwards as to how many of what size clients will that take. Who is the best to sell in each sector and who will train and monitor the delivery staff so they year is mapped out.
??Award winning NED and strategic advisor. Working with recruitment business owners to help them achieve their objectives profitably, sustainably and authentically
1 年Thanks, Insha Ali. Can anyone identify the biggest red flag?
Assistant Manager Human Resources at Jubilant Consulting | Experience in IT and Manufacturing Industry | End to End Recruitment | MBA in HR ??
1 年Informative article Alison Humphries Hon FREC