Recruitment firms should be focusing on the silver liningAs we emerge from the gloomy winter lockdown into spring 2021, there is hope for better days ahead. Recruitment, like all other industries, should be ready for the uptick.

The roadmap out of lockdown is in place with the lockdown measures being eased further from April 12. If all goes well, then the UK should be completely open in a few months and ready for the new normal.

Role of recruitment technology

For recruitment firms running a business in these extraordinary times, technology played a substantial role in ensuring that the wheels of business kept turning as efficiently as possible.

Recruitment software was crucial in helping with remote recruiting and conducting digital interviews.

And as redundancies escalated, an increasing number of job seekers flooded the employment market. Recruiters found themselves deluged with more CVs and applications than was needed. Skills testing software facilitated a better and quicker search for candidates. Unqualified applicants were rooted out easily through online skills testing and the top talents were highlighted.

Preparing for a head start

It is now time for recruitment firms to prepare to get back on track. Employers are hiring.

According to REC, there was a net level of +13 rise in employer hiring confidence between December 2020-February 2021.

It surged in February as the government announced its strategy to ease lockdown and gave impetus to businesses to stride into the post-lockdown plan.

Neil Carberry, Chief Executive of the REC, said, “Recruiters report that this latest lockdown has been much less damaging than many feared back in January. The relative health of the economy and the jobs market is now being reported by business surveys, official figures and our own data. Today’s figures show that hiring companies are confident about bringing people into their businesses now, and that has to be good news for all of us.”

With business owners proposing to hire more staff (both permanent staff and temp workers) and robust recruitment technology platforms to capitalise on, staffing agencies have plenty to look forward to.

Government support for businesses

Budget 2021, declared ‘the most important Budget for business in a generation’ by the BBC, clearly attributes great value on strengthening the economic climate.

The government’s £65 billion plan aims to slowly help businesses get back on track. The continued support will cover furlough extensions, additional grants and VAT cuts, and support to the self-employed, etc.

Recruitment firms should be aware that the Budget includes support for companies making investments to improve efficiency.

Super deduction and your recruitment firm

So, what does super deduction mean for your recruitment firm?

The UK government is offering a 130% deduction on qualifying investments. What this signifies for recruitment firms is you can make a claim to reduce your tax bill by nearly 30% if you make a capital investment. The qualifying assets comprise a new recruitment software for staffing firms.

This is a great opportunity for start-ups or businesses who are seeking to change their recruitment CRM service provider.

However, it is important to keep in mind that most software vendors these days (including Ikiru People) offer services on a subscription model. This SaaS purchase model is not considered a capital investment. Buying a software licence upfront, however, will be supported by the government’s new budget.

Thus, we are now offering Voyager Infinity and FileFinder executive search software on a licence purchase basis. We will also be continuing to provide our SaaS subscriptions. Any recruitment firm seeking to make a new technology investment should ask about the government’s super deduction before finalising their deal.

New developments at Ikiru People

At Ikiru People, we have had exciting developments to look forward to as well. In January, we launched Talentis, a powerful executive search software. It is revolutionary in the way it works and the results it can deliver. Talentis is built on big data and AI techniques. Our clients have found its candidate sourcing abilities to be quite unparalleled, venturing beyond the traditional research and social media talent sourcing practices.

In the last year, we have made integrations to help our recruitment clients work better. CV-Library’s huge database of CVs can be accessed by Voyager Infinity software users without having to leave the platform.

We have also integrated Microsoft Teams into our Infinity recruitment software to help with video interviews.

Excellent customer service has always been at the core of our business at Ikiru People. Our objective is to always deliver quick, efficient and brilliant service to all our clients.

In 2020, we decided to upgrade our service and offered our Voyager Infinity customers free access to our reputed ISV.Online skills testing software.

ISV is used by a variety of market leaders such as the NHS, Hitachi, Thameslink, and Allianz. Recruitment agencies can use our recruitment CRM and free online skills testing software to promptly find, filter and place the best-qualified candidates.

Making new moves

While there is still reason to be wary, the fact remains that it is time to push ahead. Employers are hiring. Government support is available. There has never better reasons than these in the recent past.

Those who respond smartly to the changes and the support have the advantage. Businesses with advanced technology will move quickly and efficiently to adapt to the new business climate.

Hence, despite the lingering uncertainty, recruitment firms should be focusing on the silver lining.

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