Business ideas for employment agency.
The 80/20 Pareto’s Principle states that, for many events, estimate that roughly 80% of the results come from 20% of the action. How does this principle able to assist employment or manpower agency?
This is to state that 80% of the employment agency sales comes from 20% of yours clients. Which is to say that if you have 100 clients, 20 clients will bring you 80% of your overall sales and the other 80 clients will ONLY brings you 20% of the business.TIPS: How do you take advantage of this? Pretty simple, focus 80% of your time in 20% of your clients and 20% of your time on the other 80% who are only producing 20% of the business. In fact, if you want to be EXTREMELY productive, identify the list of them and FOCUS ALL your time on the 20% of them. This will actually push your sales by at least another 50% – 100%, try this and you will be making more sales and profit in time to come.
For Recruitment Consultants
Well, basing on this principle, 20% of the recruitment consultants will bring you 80% of your business, that is to say that the other 80% of them actually bring you only 20% of the business, this is a very sad story in the eyes of the boss of the company but it is truth in many cases.
TIPS: How do you take advantage of this? You can actually ensure the top 20% are motivated and continues to give them room to excel even more, make sure you make them very happy because they are your 80% sales generator. At the meantime, you might want to let go of the people that are not productive and hire more potential consultants and if you are in luck, you might be able to find a few more consultants that are pretty good.
Management of Time
20% of your time will be spend on 80% of your productivity, productive activities includes, talking to clients, prospecting, building rapport with clients, candidates and staff. Non-productive activities includes, chit chatting, playing games, checking updates from Facebook, gossiping, queuing up to buy coffee or tea, etc.
TIPS: Identity YOUR own list that are productive and those which are not. Turn the non-productive time into more productive activities and you will be able to double or ever triple your output. Try it, it works like wonder!
Apparently 80% of them you see will not be the potential candidates for your clients, at such, only 20% of them will give you the huge chunk of 80% of them business. Which means that for every 10 candidates you interview, only 2 will bring you good business.
TIPS: Make sure you filter your candidate VERY carefully, if you have doubts, drop them. This way, not only you are going to be productive, it save you plenty of time and still get plenty of closure using the least resources.
The 80/20 Pareto’s Principle in employment agency business works very well, follow them faithfully and you can at least DOUBLE your productivity.
An article by The Recruitment Guru – Dougles Chan