The buzzword of the moment seems to be “pivot”. If you are captured by the idea that you can somehow switch gears and totally re-engineer your recruitment business on the fly, you better think again.
Most times, (granted there are a few exceptions) this takes research and a well thought out strategy to implement.
Is it just a sexy word?
Is pivot now just a sexy term we are throwing around that really means hustle for a few extra bucks elsewhere? I don’t know, maybe someone can set me straight.
To me pivot has a maverick tone to it; spin around and see where you land! Stop doing what you are doing and chase something else instead.
“I get it, there are businesses who have turned on their heels and been incredibly successful.”
I think if you take a closer look though most times what seemed an overnight success probably took a lot of work.
I’m not saying standstill
I’m not saying don’t create and test new ideas or be innovative. Do all that. What I think is important is this. To leverage what you already have in your toolkit; your experience, your networks, your deep understanding of your clients and your market, your skills and your reputation. Make them the foundation of your new ideas to further build your value to your current market right now.
Let me give you an example
If your agency recruits for the Advertising industry and most of them have put the brakes on hiring, look for pockets of opportunity. Who are the agencies with health clients or government accounts? And what are their issues?
Well one is it is likely that it is very hard for them to forecast what resources they will need over the coming months as government directives shift almost daily. If you don’t know talk to them and find out. How can you help solve that problem for them? One obvious way would be to get in touch with all your candidates that have any healthcare or govt experience.
Are they set are up to work from home? (if not you can help them on behalf of your client)
What hours could they work/family obligations?
When could they start etc?
Maybe your client has let go of internal HR so when they take these guys on as freelancers include that as part of a package deal.
Advise your client you have a bank of temps who are not only available at short notice but who are set up ready to start working from home as soon as your client hits the go button.
Do you think that might take some pressure off your client in that situation and make you some money?
To me, looking for opportunities like this makes far more sense than chasing revenue in another market that you know is hiring. Why? Because every other recruiter will be chasing that business. However, more importantly, there are specialists in that area that already have great relationships and will be first port of call. And while you are focusing where you think the grass is greener your own patch is left vulnerable as free game to your current competitors. While the cats away… ☺
If I am wrong in my understanding of the word pivot and this example is a demonstration of pivoting, then I stand corrected. To me it’s simply solving a problem using what you already have.
Semantics aside, my message here is look closer to home for where you can make a difference. And in doing so, help your clients and make some money along this bumpy road.
Take care, stay safe and most importantly stay in action.