“The more you sweat in peace, the less you bleed in war”. A quote that highlights the criticality of discipline around executing the fundamentals, consistently. “Back to Basics”, however, unfortunately remains one of the most overused terms in recent history. In what remains a 1 trillion USD staffing and consulting market, businesses must be ready in 2024 to take market growth, market share, or both. Fundamentals and thoroughness are the key.
2023 has been a challenge on many fronts for the staffing sector. The halcyon days of 2021 and 2022 are long gone and the new normal is yet to fully reveal itself. As the market tightens, the attention to detail and discipline becomes critical to survival and navigating through these times. An economic year like to 2023, so close to the pandemic of 2020 is not what anyone wanted or foresaw. But it is here, and no one knows what 2024 will bring. As ever, the only thing we can control is our response.
Businesses had staffed up to the hilt to cope with the demand from clients during 2021 and 2022. Many had and have become victims of the buoyant market, where the need for lead generation and business development was not a priority. Most consultants were merely resourcing for roles from existing clients. New consultants were mainly resourcing for roles from excess new client demand. The true magic of our industry and of the salespeople in it, is and always will be, their ability to generate requirements. Filing jobs is the easier bit. Generating need and demand is the true art of recruitment. A tough market separates those who can do this, from those who cannot.
Along with “Back to Basics”, the word “Relationships”, is as commonly used in response to how best to navigate through a tough market. Unfortunately, this is another overused and under practiced skill in most businesses, where exceptionally poor CRM usage, data, and even poorer Target Operating Models to ensure productivity and efficiency required to nurture win and develop relationships are the norm. “Relationships” start with candidates, yet most businesses neglect this and apply the term purely to clients. The best businesses treat their candidate relationships as importantly as their client relationships because they know they are both halves of the optimal whole. Lead generation and business development are the cornerstones of what we do.
Marketing has never been as important as it now, but it is also heavily reliant on the quality of the CRM. “Selling”, remains the key, and despite increasingly being seen as a dirty word, it remains the key component that separates those that will ultimately Fail, Survive, Thrive, Win. Consistent, progressive business development, monthly, has and always will ensure success. Businesses must double down on ensuring fundamentals are refined, understood, trained, and executed, daily. This means fit for purpose Employee, Service, and Value Propositions that drive the right mindset, dataset, and skillset. This Holy Trinity have always been essential, but there is a fourth now, which is critical for succeeding in the new normal. The “Experience Proposition”. How you make people feel.
Clients have choice now and will work with people that they like, that make them feel good, that offer more value and genuine connection. This is more than a relationship; it is a human connection. It is the evolution of what staffing services need to become. Businesses must combine many of the “Right School” (not old school) fundamentals and the ability to really “Connect” with Colleagues, Candidates, Clients. Success and building a good business always rely on that process in that order. Colleagues, Candidates, Clients. The essential components of any target operating model for success.
Regardless of market conditions, there will always be several possible outcomes. Fail, Survive, Thrive, Win. These outcomes will be determined by your ability to evolve your business to truly connect with your colleagues, candidates, clients, whilst ensuring the fundamentals of hard work, an effective target operating model, data analysis and strong leadership. In 2021 and 2022, too many relied on being fed. In 2023 and beyond, we must get back to hunting. “Back to Basics” must become “Forward to Fundamentals”. The essential combination of process, emotional and social Intelligence, and thoroughness.