Business Plan For Recruitment Agency Samples †MyAssignmenthelp.com

Question: Discuss about the Business Plan For Recruitment Agency. Answer: Preliminary operational plan: Number of new applicants has to be increased since the sales has to be increased by the end of the year. 10 recruitment personnel have to be given individual targets which will also incorporate work load for new opportunities. There has to be an extensive report on individual performance. There has to be an extensive market survey to find out what are the skills the personnel are lacking. Since there is a new office, the firm is tight on budget. The firm has to be very careful about spending money on resources. To issue market survey, firm will have to hire new personnel adept in assessing the state of the market. Firm has two offices in Australia, one in Melbourne and the other in Adelaide. Firm has working capital that already has been invested in the business. The firm has 5 sales executives and 10 recruitment personnel. Firm has to locate where new jobs are opening and keep track of the other recruitment agencies strategies adopted to get new applicants. The recruitment firm needs to make new contacts with new firms. To conduct the consultation process, there will be individual face-to-face meeting and group meeting with each and every personnel and stakeholders of the company. There will be separate meetings with the Board of Directors, most of which will be ad hoc. The operational plan will be discussed with the owners of the company and each member of the board of directors. There has to be an individual feedback report taken from every individual involved with the activities of the firm. The feedback report should include some key aspects that will chiefly address the issues regarding performance. There will be proposal for training sessions with the old personnel. The training module will involve discussions on performance and way of improving performance. Key Performance Indicators (KPI) to measure organizational performance: The speed with which pre-screening of the applications are being done. To correctly identify where the best candidates are coming from. To correctly identify the number of applications actually getting the job. It is important to evaluate the ratio of people actually qualified for the jobs to number applying for the same. The ratio of phone screening to the next level screening, i.e. speaking to the candidates face to face. Two contingency plans for those who fail to meet KPIs: As regards to the operational plan, there will be target set for each candidate. Failing to meet the target will be met with penalty in the form of salary deductions according to the proportion of the loss of sales revenue that this will be causing (Sheehan, 2014). Individuals failing to meet KPIs will have to be called up by the internal management and they will be answerable for their failure to meet KPIs. The individuals will be assessed according to the gravity of the problem. If there is lack of ability detected, they will be replaced by new hiring. Business Proposal: This business proposal is for a recruitment agency Excel Personnel. Excel has two offices in Australia one in Melbourne and a new one in Adelaide. The agency currently has five sales executives and ten recruitment personnel. Purpose statement: This proposal will introduce a strategic plan for increasing sales by 8% by the end of 2011. The company will also be introducing training programs for its employees since the company observed loss of clients in last few months. The client base is also showing no indication of further change. Long term outcomes: The company is aiming a recovery from the losses incurred from the loss of clients. The company wants a strong presence within the industry. Anticipated changes in the next few months: 1) There is expected a substantial change in the performance of the personnel. 2) There is expected a better position in the market. 3) Better work culture is anticipated. Change in manager-employee communication is expected. Business functions: New training will be introduced where employees will be trained to increase their performance. Employees individual performance will be assessed as per Key Performance Indicators stated above. New communication plan will be introduced to improve internal communication. There is a lack of transparency regarding external communication that is affecting the business. The training must incorporate tools to build better communication with customers. Customer satisfaction will be addressed. Client satisfaction is one of the key issues that needs to be discussed. There is loss of clients observed in recent times. This indicates that the new employees recruited by the firm are under-qualified. New technology needs to be implemented to review the pre-screening and final screening process of the candidates. Better performance of the sales executives required to enhance the number of applicants. New hiring required who will be experienced and adept at assessing the industry. The factors that is causing the firm to lose its clients as well as the factors that is making the other firms more attractive needs to be detected. Flow chart of relevant parties to seek approval of the business proposal from: How to communicate the business plan to the staff: The business plan involves sensitive issues like individual performance level and regarding lack of internal communication (manager - employee relationship). The information regarding the business plan will be revealed by the members of the immediately higher post in the flow chart of hierarchy shown in the flow chart above (De Kok, Uhlaner and Thuri, 2016). Smart plan to make employees demonstrate the details of the business plan: The business plan will be requiring having strategies of implementation recommended by individual staff. There can be arranged a form in which individuals recommendations to strategies and tactics will be documented and the response will be kept anonymous. There can be arranged a meeting at the employees level where each will be asked to demonstrate the flaws and strengths of the plan. The individuals response in this meeting will be noted. How to strengthen relationship with external personnel: There needs to be more clarity regarding the internal activities while communicating with the external recruitment personnel. There inconveniences (if any) in working with the firm needs to be known and worked upon to improve work relationship. As they work outside of the organizational structure, they have certain autonomy that enables them to have a better view of the market situation. Extra information needs to be elicited. There needs to be implemented a better incentive structure to make these personnel more efficient. Ways of measuring performance: The speed with which pre-screening of the applications are being done. To correctly identify where the best candidates are coming from. To correctly identify the number of applications actually getting the job. It is important to evaluate the ratio of people actually qualified for the jobs to number applying for the same. The ratio of phone screening to the next level screening, i.e. speaking to the candidates face to face. Internal anonymous survey regarding internal communication (for example, improvement of manager-employee relationship). Tool to measure performance: There will be an internal production report and a review and rating report based upon the former to assess the effectiveness of the business plans and newly introduced processes. Ways of monitoring financial information: There needs to be a thorough financial audit of sales, recent expenses and profitability. It is important to look after expenditure as the firm is tight on budget owing to opening of a new office. Comparison of the financial performance with the previous years performances. Comparison of the financial performance with the performance right before the newly implemented business plans and feedback processes. The audit is necessary in order to evaluate the effectiveness of the newly implemented business plans and feedback processes as well as to see if there is any change in desired sales target (of increasing by 8%). Lack of skills and performance and factors affecting it: There is a rift in communicating between the companys levels of hierarchy. The incentive structure is not clear and transparent, leading to demoralization in work. Lack of resources has affected companys growth. Department managers are complacent and show no tenacity to contribute to the companys growth. This not only affects the work culture, but also affects the team work. That consequently affects the productivity (Barquet et al. 2013). Lack of proper market research has pulled down the productivity to a great extent. Managers need to devise better ways to communicate with the stakeholders and the external recruitment personnel. Measures to eradicates such issues: There has to be proper integration of staff, manager, owners and board of directors to improve quality as well as productivity. Internal conflicts also reflect on the impression that the firm has within the industry. An internal communication officer may be hired in order to conduct a thorough internal communication audit and increase the capacity of teamwork (Marchington et al. 2016). Ways to increase morale within the departments and improve trust and openness: The interdepartmental communication can be improved through communication beyond work. The company can conduct a new promotional event that will require everyone to work together. The company can carry out new campaigns outside the office boundaries to have more exposure in places where there are potential candidates. For example, campus placement drive. This will help every staff to coordinate with one another. Also, reducing the distance between firms hierarchies through recreational events can also help employees communicate. Flow chart on approval of variations to plans: Flow chart of implementation of variations of the plan: References: Barquet, A.P.B., de Oliveira, M.G., Amigo, C.R., Cunha, V.P. and Rozenfeld, H., 2013. Employing the business model concept to support the adoption of productservice systems (PSS).Industrial Marketing Management,42(5), pp.693-704. De Kok, J.M., Uhlaner, L.M. and Thurik, A.R., 2016. Professional HRM Practices in Family Owned?Managed Enterprises.Journal of small business management,44(3), pp.441-460. Marchington, M., Wilkinson, A., Donnelly, R. and Kynighou, A., 2016.Human resource management at work. Kogan Page Publishers. Sheehan, M., 2014. Human resource management and performance: Evidence from small and medium-sized firms.International Small Business Journal,32(5), pp.545-570.