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One of the first steps to starting your staffing business should be performing a SWOT analysis, an in-depth evaluation of your agency’s strengths, weaknesses, opportunities, and threats.
Our SWOT analysis template has starter questions to help you identify your staffing and recruitment process strengths, biggest weaknesses, opportunities, and threats.
To help you get started with a strengths and weaknesses analysis for your staffing agency, we’ve developed an easy-to-use SWOT template example that you can download for free.
What Are Recruiter Strengths, Weaknesses, Opportunities & Threats?
Strengths
What are your staffing agency strengths? This is the opportunity to show off your biggest assets as a company. Does your recruiting team focus on filling jobs in specific markets? Do you help hiring managers place candidates in hard-to-fill positions? Whatever your strengths are, include them here.
Weaknesses
Can you identify the key weaknesses of your organization? Have there been big changes to the job market recently, is the economy influencing the job market or causing hiring freezes? Does your staffing startup lack standout branding, messaging, or a solid online presence? Are you having difficulty funding payroll for your recruitment agency? Does your back office lack efficient accounting, recruitment software or bookkeeping? These are all weaknesses you want to account for in your SWOT.
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Opportunities
What opportunities are influencing the staffing industry? New government insurance requirements, economic changes, and more all provide job openings that need to be filled. Do you have relationships that give you a leg up on hiring trends and opportunities? These are all opportunities to include in your recruitment SWOT analysis.
Threats
Under the new healthcare and insurance laws if you fill more than 50 temporary staffing positions you have to provide healthcare. Are you prepared to take this on and provide health insurance? This would be considered a threat to your bottom line. Anything that causes you to raise prices or negatively affects your firm is a threat, and should be listed in this portion of the SWOT.
SWOT Recruitment 101
As you go through the SWOT recruitment process, don’t forget: Strengths and weaknesses are internal factors. Opportunities and threats are external.
Examples of SWOT Analysis Questions:
- What are your core competencies?
- Where do you lack resources?
- What is the overall business climate for the industries you serve?
Going through this SWOT process will help:
- Differentiate your staffing business from your competitors
- Identify your key messages
- Prepare for external factors that could affect your business in the market and competitive landscape
