Recruitment and Personnel Industry

Every business is different, however there are particular issues that recruitment companies face that are unique to the sector.

These include:

• Hiring bans by larger clients
• Online competition
• Overdrawn directors accounts
• Slow payments by debtors
• Falling revenues
• Difficulty to lower costs to match demand
• Large debtor books through factoring companies
• Preservation of quality recruitment advisors

The good news is there is usually no trading stock involved in recruitment and it is usually straight-forward. Assets mainly consist of office equipment, like computers, phones and desks.

People will always need jobs so the industry will never disappear. The main concerns are beating the competition and employing expert recruitment advisors to keep the business a success.

As turnaround practitioners, our specialists can help tackle these issues with you to get your recruitment business back on track. We can go through all the available options, like expert assessment of the issues your company faces, improved financial reporting,  Time to Pay deals, CVAs and pre-pack administrations.

The recent budget announcement of the increase of employers NIC has spooked a great deal of companies in holding back hiring plans.