We’ve got some great news for 94% of staffing firms. Did you know you can grow your profit margin by creating a redeployment strategy? And not by some negligible sum. You can increase your profit margin by a lot.
For the other 6% of you, this is not news. Some of you may even be tracking your firm’s redeployment percentage. But are you doing anything to up your redeployment rate?
100% of recruiters can agree when you compare the many costs of nurturing a new lead from the top of your funnel to placement with the savings of engaging and redeploying talent from your database, the case for redeployment becomes exceedingly clear.
Let’s unpack the numbers around redeployment and how much you can expand your profit margin by focusing on the contacts you already have.
Making Sense of the Cost/Benefit of Redeployment
We hope this illustrates the surprising range of costs across three primary recruiting strategies. Several sources (most notably, this article and the 22 Human Capital Report from SHRM) indicate the cost of chasing new leads and nurturing them all the way to placement comes with a hefty price tag of roughly $4–$5K.
It’s easy to see how you can increase your profit margin by significantly reducing the frequency of tasks like:
- Top of funnel (TOFU) marketing campaigns
- Introductions
- Background checks
- Compliance tasks
- Vetting work history
- And so many more!
Redeployment Unlocks the Goldmine in Your Database
Just picture it: You’re spending less time and wasting less margin chasing down new leads. You’re reallocating that time to tapping into your existing database to redeploy the contacts you’ve already paid for the chance to engage with.
But what kind of potential savings are we looking at over time? This is where the value of redeployment becomes even clearer (and more exciting!).
The savings of just one redeployment are impressive. And the journey from engagement to placement could be super short. But it’s the compounding results of repeated redeployments over time where you really get a feel for how this hiring strategy can potentially transform your business and build some serious monetary momentum.
That’s Great—But How Do I Do It?
The key is in data management, messaging and automation.
Get a deeper understanding of the people in your database, what matters to them and where they are in their candidate journey. Then, you can deliver the right content to the right audience at the right time—your pathway to connected recruiting success and higher profits.
At PARQA, we’re helping clients discover the value that’s right under their noses. If we can increase your redeployment rate by even 15–20%, you could see a significant impact on your business and its profitability.
How can redeployment boost your profit margin? Let’s find out together.
Let’s Grow That Profit Margin
At PARQA, we’re helping clients discover that value that’s right under their noses. If we can increase your redeployment rate by even 15–20%, you could see a significant impact on your business and its profitability.
How can redeployment boost your profit margin? Let’s find out together.