How to Adapt Your Pricing Strategy for a Tougher Market in Recruitment in 2023
Summary
Whilst last year 90% of agency owners predicted an uplift in revenue, in 2023 this number had dropped to only 70% - and in the first quarter, we’ve seen some indications of the marketing softening a little with permanent recruitment. With the cost of living and wages continuing to rise, it’s important to hold your ground and ensure you get paid a fair rate for your services. This won’t surprise anybody, but breaking down services into components is a powerful pricing strategy that can help your agency stay competitive in a tough market. If your client is hesitant to take on a permanent role, the best thing you can do is fill the position with a temp-to-perm candidate or a short-term contractor – at least until the market stabilises a bit. One of the biggest advantages of this model is the chance to build long-lasting relationships – after proving to your client that you can provide high-quality service, they’re more inclined to sign with you on a perm basis rather than go looking for a completely new agency they’ve not worked with before!
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