Embrace The Pivot

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Aloha Geniuses!

Today, I have the pleasure of writing y’all from beautiful Hawaii and it couldn’t be more fitting as we spring into Q2 2024.

Many of you have already been able to experience the uptick from improving economic sentiment in the US. But there are plenty of you still struggling to find your footing in this new landscape. Here is what the former has realized that makes all the difference…

Your success lies on the other side of grasping the art of sales and prospecting.

However, sales becomes difficult if what you are selling is a commoditized transactional offer. This is why I created the Rec To Revenue program. It’s not to teach you sales or give you the perfect thing to say. Rather its to give you more opportunities to engage, build and earn at every step of the talent acquisition game. Arming you with a genuine, solution and results based program that allows recruiters and owners to be more strategic and add value beyond the resumes and search.

It’s exactly what we did at Atalent to earn more per placement, increase client LTV and deepen relationships. So if you have a solid system down and are looking for a competitive edge on the market, this could be the answer.

Which leads me to the topic of today’s newsletter, pivoting.

RecruiterFlow recently dropped their 2024 Staffing Blueprint report. Many will read the report and see doom and gloom. In fact, you may feel validated in the failure of the last 12 months and chalk the whole thing up to a bad year while changing nothing in your business.

For those of you just waiting it out, I have some bad news for you… the market is moving on.

The good news is there is opportunity a plenty. My take is below, but if you’d like to download your own copy of the report, request a copy here.

But before we dive in, lets go over some highlights and announcements.

LDE Rewind

Talking about offerings and how to differentiate, this rewind seemed only fitting to drop. Amber Penrose is a powerhouse and someone who brings such a refreshing take on the recruiting industry. Check out how she uses storytelling in her value proposition. If you want a library of videos like this to play on-demand, consider joining the P-Club tier in Boomlab. This gives you access to all past recordings, exclusive lives, and all of our current and future digital courses.

Embrace the Pivot: It’s Not All Doom and Gloom

In the latest scoop from the staffing and recruiting arena, the industry's resilience shines brighter than ever, despite the tumultuous waves of economic downturns and intensifying competition. According to RecruiterFlow’s 2024 Staffing Blueprint report, 2023 painted a rather grim picture for many, with net incomes taking a steep dive by 20% in the last quarter alone, reflecting an accelerated decline across the board. The way I read the report and from what I’ve seen working in today’s market, I’m reading the report as “It’s not you, but it is ON you to adjust.” Here's where the plot thickens for the nimble and the creative.

The whisperings from last month's SIA event in Vegas, echoed by insights from an exclusive LinkedIn Executive Dinner, suggest a silver lining. While the traditional paths in recruitment may be fraught with challenges, a door has swung wide open for those ready to pivot and innovate. Many of you will read the word pivot and immediately think I’m referencing industry. However, that is not the only type of pivoting you can do.

Those succeeding today are also pivoting in their offering. From vertical integration and RPO services to crafting cutting-edge software tools and offering employer branding consultancy, the possibilities are vast for those who dare to redefine their value in the talent acquisition game.

The rising topic today is around talent density and getting more from each employee. This was reflected heavily at Transform and in how companies are looking at talent today. This is translating to vendors, consultants and tech as well. Thats why RPO, fractional and embedded work have made such a rise in the last 6-8 months.

The industry's pulse, as captured by RecruiterFlow's insightful report, shows a market ready for transformation. With gross profits and net incomes under pressure, the narrative isn't about doom and gloom but about evolution and opportunity. The temporary and contract sectors, for instance, exhibit more resilience, hinting at where the agile recruiter's focus could beneficially shift.

Moreover, the backdrop of a competitive landscape where operating expenses are meticulously trimmed echoes a broader trend: a strategic shift towards efficiency and innovation. The market, surprisingly optimistic, has already started to reward the staffing firms that dare to adapt, with a noticeable uptick in market capitalization outpacing the S&P 500 index.

This moment, daunting as it may appear, is ripe with opportunities for those willing to look beyond traditional models and explore new terrains. It's a call to action for the staffing community to harness the wealth of affordable tools and resources at their disposal, like RecruiterFlow, Metaview, and Betterleap stack, and pivot towards building scalable, solution-oriented businesses. The question now isn't about if the pivot is necessary, but how swiftly and creatively one can navigate the turn.

So, to the agency recruiters and independent agency owners of Recruiting With Dynamite, the message is clear: The future belongs to those who can adapt, innovate, and add unparalleled value to the talent game. It's not just about surviving the storm but thriving in its aftermath.

The question is are you brave enough to pivot and unleash your potential?