How To Pick your Agency Niche
Summary
TLDRThis video script offers a guide on selecting a recruitment niche, emphasizing its importance for efficiency and profitability in the industry. It explains that specializing in a specific job title or sector allows recruiters to recycle candidates across similar roles, thus working smarter. The script provides practical steps to identify a lucrative niche using job boards like Indeed, analyzing job postings and the ratio of employment agencies to employers, and ensuring a sufficient candidate pool on platforms like LinkedIn. The goal is to choose a niche with high demand and a substantial number of potential candidates to consistently generate revenue.
Takeaways
- 📍 A recruitment niche is an industry, sector, or job title that a recruiter specializes in.
- 💰 Specializing in a niche can be more lucrative as it allows for the recycling of candidates for similar job positions.
- 🔍 It's important to avoid being a 'Jack of all trades' in recruitment to increase efficiency and profitability.
- 🛠 The process of determining a niche involves using Boolean search strings on job sites like Indeed to find specific job titles.
- 📈 A good niche should have more than a hundred job listings, indicating a viable market for recruitment.
- 🤝 The ideal ratio of employment agencies to employers should be slightly higher for agencies, indicating a need for recruitment services.
- 🔎 A niche with a high number of staffing agencies and job listings is a strong indicator of a challenging recruitment landscape.
- 👥 Assessing the candidate pool is crucial; a niche should have a substantial number of potential candidates to ensure consistent recruitment opportunities.
- 📊 Using platforms like LinkedIn to search for candidates by job title and location can help determine the size of the candidate pool.
- 🌐 A niche should have a large enough pool of candidates, with at least a thousand being ideal for a broad recruitment approach.
- 📝 The video provides a step-by-step guide on how to choose a recruitment niche, emphasizing the importance of market research and candidate availability.
Q & A
What is the definition of a 'niche' in the context of recruitment?
-In the context of recruitment, a 'niche' refers to a specific industry, sector, or job title where a recruiter focuses their efforts.
Why is it beneficial for recruiters to specialize in a niche rather than recruiting for everything?
-Specializing in a niche allows recruiters to work more efficiently by reusing candidate pools for similar job roles, leading to increased profitability and a more focused approach.
What is the significance of the saying 'Jack of all trades' in the script's context?
-The saying 'Jack of all trades' implies someone who is skilled in many areas but not an expert in any. In the context of recruitment, it suggests that being a generalist is less desirable than specializing in a niche.
How can a recruiter determine if a niche is lucrative and worth pursuing?
-A recruiter can determine the viability of a niche by analyzing the number of job postings, the ratio of employment agencies to employers, and the availability of candidates in the market.
What is the recommended minimum number of job postings to consider a niche viable?
-The script suggests that a niche with more than 100 job postings is likely to be viable, especially when considering a single city.
What is a 'Boolean string' and how is it used in the script to help determine a niche?
-A 'Boolean string' is a combination of keywords and Boolean operators used in search queries to refine results. In the script, it is used to search for specific job titles to assess the potential of a niche.
What is the ideal ratio between employment agencies and employers when evaluating a niche?
-The ideal ratio is slightly higher on the staffing agency side compared to the employer side, with a ratio of around 50 to 60 being considered good.
Why is the ratio of employment agencies to employers important when assessing a niche?
-The ratio indicates the difficulty of recruiting for a position. A higher number of staffing agencies compared to employers suggests that the position is harder to fill, making it potentially more lucrative for recruiters.
How can recruiters use LinkedIn to determine the availability of candidates in a niche?
-Recruiters can use LinkedIn's people search feature to find candidates within a specific location and job title, looking for a large pool of candidates to ensure there is a consistent supply for recruitment.
What is the suggested minimum number of candidates in the market for a niche to be considered viable?
-The script suggests that ideally, there should be around a thousand candidates in the market for a niche to be considered viable, allowing for a consistent flow of recruitment opportunities.
What is the final step in determining if a niche is worth pursuing according to the script?
-The final step is to ensure there are enough candidates in the market for the niche, as a niche without a sufficient candidate pool will not yield consistent revenue.
Outlines
📈 Choosing Your Recruitment Niche
This paragraph introduces the concept of a 'niche' in the recruitment industry, explaining it as a specific industry, sector, or job title to focus on. It emphasizes the importance of specializing rather than being a 'Jack of all trades' to increase profitability and efficiency in recruitment. The speaker suggests that by focusing on a niche, recruiters can find and repurpose candidates for multiple similar jobs, thus working smarter. The paragraph also encourages viewers to determine their niche by considering sectors like healthcare, software engineering, and renewable energy, and offers help for those who are unsure. It concludes by highlighting the importance of choosing a lucrative niche for consistent earnings.
🔍 Assessing Niche Viability Through Job Market Analysis
The second paragraph delves into the process of determining whether a niche is viable for recruitment. It suggests using Indeed.com to search for job titles and analyze the number of available jobs in a specific location, using Boolean search techniques to narrow down results. The speaker provides an example of searching for software developer jobs in Dublin, Ireland, and explains that a niche with over a hundred jobs in one city is likely to be viable. The paragraph also discusses the importance of the ratio between employment agencies and employers, suggesting that a higher number of staffing agencies compared to employers indicates a harder-to-fill position, which is beneficial for recruiters. The speaker advises looking for niches with a good job count and a favorable agency-to-employer ratio. Lastly, the paragraph touches on the necessity of having a sufficient candidate pool, recommending LinkedIn as a tool to gauge the number of potential candidates in the market.
Mindmap
Keywords
💡Recruitment Niche
💡Jack of all trades
💡Lucrative
💡Recycling candidates
💡Working smarter
💡Boolean string
💡Job viability
💡Staffing agency ratio
💡Employer
💡Candidates in the market
Highlights
The importance of choosing a recruitment niche in the industry.
A niche defined as an industry, sector, or job title for focused recruitment.
Specialization leads to higher earnings and efficiency in recruitment.
Recycling candidates for similar job roles within a niche.
The inefficiency of being a generalist recruiter.
Using Indeed.com to research and determine the viability of a niche.
Employing Boolean search strings to filter job listings effectively.
Evaluating niche viability by job listings count and location.
The significance of the ratio between employment agencies and employers.
A higher number of staffing agencies indicates a harder-to-fill position.
Software development as an example of a lucrative recruitment niche.
Healthcare assistant niche analysis and its market demand.
The importance of having a sufficient candidate pool for consistent recruitment.
LinkedIn as a tool to assess the number of potential candidates in a niche.
A minimum candidate pool size for a viable recruitment niche.
The method to determine if a niche is worth pursuing based on job demand and candidate availability.
The conclusion summarizing the steps to choose a profitable recruitment niche.
Transcripts
welcome back to the channel So today
we're going to determine your
recruitment Niche how to pick a niche in
your recruitment industry so what is a
niche first of all a niche is basically
an industry or sector or even job title
that you are going to be recruiting in
why is it important to determine your
Niche why can't you recruit for
everything well
um the kind of famous saying the Jack of
all trades so to speak is not what you
want to be
you can make a lot more money and it's a
lot more lucrative if you go after one
specific thing or one specific area why
this is because you can get you know
five ten different jobs and and you only
have to source for that job or find
candidates for that job once and then
you can recycle all of those candidates
into those 10 jobs
if I'm recruiting for let's say
Healthcare assistant like what's on the
screen or a software engineer I'm
recruiting for a doctor I then have to
recruit three different times three
different types of candidates three
times the work
it's about working smarter here guys not
harder so the best way to do this and
the most lucrative way to do recruitment
is to pick a niche to go after
I.E Healthcare software engineering and
renewable energy is a great one
um you know anything medical related
medical devices is also good and look
after this video if you're still unsure
of your Niche drop a comment below and
we can we can talk and I can help you
decide your Niche so but this is the
best way that you're going to determine
whether your Niche is good to go after
or not because obviously there's a lot
of sectors out there you can choose from
however
not all them are going to be lucrative
alright so it's important to hear to
make sure that you choose the right
Niche that's going to make you money
consistently
so what we do is we go to indeed.com
and we type in the words
so we do rockets title
semicolon
and Rockets and then we type our job
file that we want to search in the
middle well why do we do this title
thing here this is because this is like
a Boolean string it will bring up
specifically only the job file that you
asked it for and this is great for when
we're determining our Niche so that's
what it's software developed
software developer
we're gonna look at it specifically in
Dublin in Ireland
so as we can see here there's 307 shots
I can already tell this is an okay Niche
and the reason why I say that is because
it has more than a hundred jobs
it's likely going to be a viable Niche
and this is just in one city bear in
mind so if we go to the whole of Ireland
you can see this there's gonna be a lot
more so we can already see this is quite
a good Niche to go after
now the other thing that you need to
look for is how the ratio between
employment agencies versus the actual
employer
okay so what we look for is here so 140
167 guys this is a perfect ratio okay so
what we're looking at is
ideally we want the staffing agency side
to be slightly higher than the employer
side so 140 to 167 this is perfect
anything above kind of 50 60 is good and
why do we want this this basically shows
if there's more staffing agencies than
employers
it will basically mean that the position
is harder to recruit for so employers
will require staffing agencies to
recruit for that position I.E software
developers it's a really good Niche and
just looking at the metrics here
for example if we and let's look at
another one so if I type in healthcare
assistant for example
I don't care
in the medical field
okay 121 jobs it seems good not too bad
there's over 100 jobs if I go here right
see look at the ratio here see the
difference so on the employer side
there's 96 and the staffing agency is
only 25. that basically means that ratio
would tell me that the employers are
finding very easy to recruit for these
positions and that's why there's not so
many staffing agencies recruiting
Because the demand for staffing agencies
is not so high with this job title so
what we're kind of looking for is
ideally you know above 50 staffing
agencies when we look at these ratios if
you have above 50 to 60 staffing
agencies and you have over 121 jobs or
looking good guys so that's on the job
front
the last thing that you need to do to
determine if this is going to be a
viable Niche or not is obviously to
determine if there's candidates in the
market there is no point in going after
a niche if you have 20 candidates in the
market the statistics show that let's
say on on average basically in on
LinkedIn if we're looking at LinkedIn
for example uh candidates that are not
actively looking in the market if we
have a pool of candidates only three
percent
are actively looking for a job usually
at that time if you're approaching
provided they're not on job boards and
things like that so if you have 20
candidates in the market it's highly
unlikely that you're going to be able to
make consistent Revenue through that of
course so what we need to see is you
know like ideally a thousand candidates
would be good because let's say if we
have 20 percent are that are you know
somewhat interested in changing jobs or
can be swayed even but they're not
actively looking then that still gives
us a good pull to go after and and haunt
and have conversations with so that's
what we're kind of looking at and I mean
you could if it's a very specific Niche
very kind of and you're going to go
after more than one job title then we
can we can go for slightly less than a
thousand but you get my gist anyway
there needs to be enough candidates for
you to constantly be talking to
um in order to recruit for the for the
positions itself
so we'll go on to LinkedIn and we'll go
into people search and what we're
looking at is we said software developer
right so software developer with Niche
so we're going to
type in software
into
indeed or sorry into LinkedIn
nope
and we're going to be specifically
looking at the location that is greater
Dublin Dublin
show results
okay right now we can see there's 9700
results so I can see already that is a
viable recruitment
look at that so we've a huge pool of
candidates to go after in one city
that's only in one city so
that basically boils down or summarizes
how we can choose our Niche we can
obviously choose various different job
titles in here we can choose doctor we
can choose lawyer we can choose anything
we want and
um yeah look uh that's how you choose
your Niche so that's the end of the
video guys I hope you found it helpful
please like And subscribe if you need
anything else and just comment below if
you if you need help
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