8 July 2010, 4MAT and Kamanchi hosted an event, the third part of the Success in Tougher Times series at the Skylon restaurant to discuss strategies for growth during the recession. The event was chaired by Jeff Grout, former UK MD of Robert Half International and listed as one of the '100 Best Speakers in Britain' and featured the following panel:
During an hour long discussion, some of the key points made about strategies for growth were:
- After slashing margins throughout the course of the recession, it is now important to try to push them back up otherwise everyone will find themselves stuck on recession margins in a growing economy. Recruitment companies need to educate their clients on the value of their services.
- Now is an excellent time to hire experienced recruiters. The standard of graduates currently in the market is also higher than ever.
- Companies need to invest in training to keep their competitive edge. It's not just about training skills but also about continuously communicating the company culture.
- Strong marketing and branding strategies are important. Those who invested in marketing throughout the recession are now reaping the rewards.
- Managers need to back the right people and ensure they have what they need for their journey, to do this they need to spend time with their people and talk to them. Managers need to hear the things they don't want to hear to be able to fix problems and motivate staff.
- The key to retention and motivation of recruitment consultants: communicate vision, values and report on the success of the business so staff members know and support the direction the company is going.
- When seeking funding, there are banks out there that understand recruitment and will back small businesses. Lloyds TSB was repeatedly praised for their understanding of the recruitment industry.
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