How To Pick your Agency Niche

Summary

This 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

00:00

📈 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.

05:02

🔍 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.

Keywords

💡Recruitment Niche

A 'Recruitment Niche' refers to a specific industry, sector, or job title that a recruiter focuses on. In the video, it's emphasized as a critical strategy for recruiters to specialize in a particular area to increase efficiency and profitability, rather than trying to recruit for every possible job. The script uses examples such as 'Healthcare assistant' and 'software engineer' to illustrate this concept.

💡Jack of all trades

'Jack of all trades' is a term used in the script to describe someone who is skilled in many areas but not an expert in any. The video contrasts this with the idea of specializing in a niche, suggesting that recruiters should avoid being a 'Jack of all trades' and instead become experts in a specific area to be more successful.

💡Lucrative

The term 'lucrative' in the script refers to the potential for high financial gain or profitability. It's used to highlight why focusing on a recruitment niche is beneficial, as it can lead to more money being made by being an expert in one area rather than spreading efforts across many.

💡Recycling candidates

'Recycling candidates' is a concept mentioned in the script that involves reusing a pool of potential candidates for multiple similar job positions. This is efficient because once a recruiter has identified suitable candidates for a specific job, they can be considered for similar roles without the need for additional sourcing.

💡Working smarter

The phrase 'working smarter' is used in the script to advocate for more efficient methods of recruitment. It suggests that by focusing on a niche, recruiters can achieve more with less effort, as opposed to 'working harder' which implies putting in more effort without necessarily increasing effectiveness.

💡Boolean string

In the context of the video, a 'Boolean string' is a search query technique used on job boards like Indeed. It helps to narrow down job listings to very specific criteria, such as a particular job title. The script explains how to use it to search for 'software developer' jobs in Dublin, Ireland.

💡Job viability

'Job viability' in the script refers to the potential of a job or a niche to be profitable and sustainable for a recruiter. It's determined by factors like the number of available jobs and the ratio of employment agencies to employers, as illustrated by the script's analysis of 'software developer' and 'healthcare assistant' jobs.

💡Staffing agency ratio

The 'staffing agency ratio' is a metric discussed in the script to evaluate the demand for recruitment services in a particular niche. A higher number of staffing agencies compared to employers indicates that the job is harder to fill and thus potentially more lucrative for recruiters.

💡Employer

In the script, 'employer' refers to the companies or organizations that have job openings and are looking to hire candidates. The script discusses how the number of employers and their ratio to staffing agencies can affect the viability of a recruitment niche.

💡Candidates in the market

'Candidates in the market' refers to the pool of potential job applicants that recruiters can source from. The script emphasizes the importance of having a large enough pool of candidates to ensure consistent recruitment success, using LinkedIn as an example to show the availability of 'software developer' candidates in Dublin.

💡LinkedIn

LinkedIn is a professional networking platform mentioned in the script as a tool to gauge the number of potential candidates available for a particular niche. It's used to illustrate the size of the candidate pool for 'software developer' roles in Dublin, indicating a viable recruitment niche.

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