Why You Must Have a Niche in the Manpower Business.
Manpower business is very competitive in Singapore and many other countries. Many business players are apparently very “specialised” in EVERY industry and EVERY function, and they will take on whatever business is presented to them.
Many times, the manpower consultants will have very few clients, and as such, do not have the privilege to “choose” who they want to service. Of course, with very few clients, they do not have the facilities to find a Niche in their business.
If you are not able find a niche in the manpower business, you will be like one of the over 200,000 recruitment agents out there in Singapore; and when that happens, the client can SPAM the job order to as many agents as possible to get their own quota fulfilled. This is what we call Market Tumour.
What are the advantages when you have a certain niche in the market, in terms of function or industry?
1) You will position yourself out of the normal agents out there, hence reducing the chance of clients SPAMMING their job orders to many agencies.
2) You will make yourself look more specialised and professional and will receive more respect and attention from the clients.
3) You will have synergy effect because the candidates you will have contacted may possibly match two or more clients if you have a fair number of job orders.
4) The clients that you contact may become your candidates when they are looking out for more opportunities.
5) The candidates may become your clients within the same industry too.
6) There will be less competition from the manpower industry because when you niche yourself, it will require more effort and focus. Not many agents are willing to go to the extra effort, though.
7) The clients will tend not to press your price lower if there are not as many vendors available.
8) Generally, you will be able to charge more in fees if you are in a specialised industry that not many people are doing.
There are tons of benefits and advantages when you are specialised and have a certain niche. Remember that specialisation means that you focus on ONE area only; if you want to specialise in legal and oil and gas, that is not a niche. Specialization means you only choose ONE and not TWO….
Last thing to take note, being specialised is great, but you must really go all the way to do your part and do your best to get that way. A specialised agent who is just around average is the same as any other agent who is not specialised. The key is to become extremely good in your specialised field, so that you will become better than those around average level within the same industry.