When you talk about people being “special” the term has a vague meaning. But in the business world, the label has a more exact definition. You’re talking about the competitive advantage of your staffing firm. Differentiating your business allows your competitive advantage to shine through to potential clients and candidates.
Why would someone turn to your staffing firm rather than the competition? That’s the fundamental question you are trying to answer. You need to differentiate yourself from all the other recruiters.
For a staffing firm, this dynamic represents a double concern. Not only do you have to stand out to your customers. You also need to attract the top candidates. Defining your place in the market lets you win on both fronts at once.
So what can you do to differentiate yourself from your competitors?
Four Ways to Help Your Staffing Firm Stand Out
Define Your Niche
We’ve talked about the way the word “special” can have multiple meanings depending on the context. Let’s turn to another important term for your staffing firm that can have various meanings: “worker.”
Your business depends on matching workers with companies that need help. But “worker” could mean almost anything. You could fill positions as diverse as CEO, doctor, electrician, or an entry-level spot on an assembly line.
Given this almost infinite breadth, it’s important to carve out your spot in the market. You need to determine the type of skills your candidates will focus on and the type of companies you’ll seek out as clients.
Ask yourself questions like:
- What is my background? How can I apply those special talents to the staffing industry?
- What niche is underserved in my area?
- Which specialty presents the biggest growth opportunity?
- What market segment offers the highest profit potential?
Investigations like these will let you target high-value parts of the staffing industry. At the same time, you’ll find a niche that will provide a foundation for a growing recruiting business.
Concentrate on Service
Discovering a niche lets you fine-tune what you will offer. However, there is another crucial factor in setting yourself apart from the competition. You also need to consider how you will provide your service.
Even in a crowded market, you can become a go-to provider. Just dedicate yourself to your clients. Build a brand and a reputation built on service. You’ll retain clients longer and increase revenues over time by word-of-mouth marketing.
Give Candidates More
Taking care of your customers will turn them into long-term partners. But you’ll also need to provide the candidates they require. Without access to talented workers, your staffing firm will fail.
As such, be prepared to give more than the competition in terms of candidate services. Add offerings like:
- Resume makeovers
- Interview practice and advice
- Long-term career counseling
- Post-placement support
Providing additional support will bring you the best candidates. This, in turn, will build your reputation as a first-class provider of talent — setting you apart from the competition and fueling further growth.
Keep Up with Market Demands
The definition of what’s special about your business will change over time. As such, it’s important to stay flexible. Routinely review your market and determine if you need to change direction.
Say you established the first staffing firm in your area focused on the health-care industry. For a period of time, you’ll have that market cornered. But others will see your success and set up new firms catering to your niche.
Within a few years, you’ve lost your competitive advantage. Yes, you were first. But now, you’re just one of a crowd of healthcare-focused staffing firms.
Prevent this dynamic from sapping your strength. Constantly look for new market inefficiencies and be prepared to redefine what makes your staffing firm special.
Frontline Funding Can Help You Get The Funding You Need to Stand Out
To leverage your competitive advantage as much as possible, you’ll need to maximize your financial resources. A top financing partner, like Frontline Funding, can give you the support you need.
Contact Frontline Funding today to get started.