Recruitment Start-ups Get Ahead, and Grow
Recruitment Start-ups – Get Ahead, and Grow
Specialist recruitment agencies launched into the market by HCIG (Human Capital Investment Group) over recent years just keep on growing. So what steps have the entrepreneurs behind these businesses taken to enjoy continued growth, in turbulent markets? Agencies in question are Caritas, attenti, En-Spiral and latest HCIG member ewi recruitment.
The all important backing
The entrepreneurs behind the Joint Venture (JV) portfolio at HCIG were strong management teams and expert recruiters with the passion and desire to build their own businesses. As a mid-market private equity firm specialising in recruitment, HCIG’s strategy centres around identifying successful individuals or teams like these, with a consistent track record, and the ability to launch a business.
Debbie Smith, Managing Director at Caritas is one of those who saw a growth in her market and the potential in the HCIG JV Programme three years ago. Through forming a JV, Debbie, and her business Caritas, benefits from shared services from HCIG Operations’ corporate headquarters.
With this backing and support, social care recruiter Caritas went from a standing start to a turnover of £8m and Gross Profit (GP) of £1.4m within their first year. Year two saw them build on this success, and the 2011/2012 figures hit £17m turnover and £1m profit. And their success hasn’t gone unnoticed – 2011 saw Caritas short listed for several industry awards.
Adam Herron, Chief Operating Officer of HCIG, comments “Debbie’s vision of what the business could achieve, and what its success would mean for her employees, gave them an exciting opportunity. Caritas has quickly become the place for exceptional social care recruiters to thrive – through this they have secured the highest GP per employee within social care.”
Tristan Ramus, Managing Director of HCIG Private Equity works closely with the JVs as part of their boards, and believes their ability to attract, retain and develop the right talent has been integral to their success. “The importance of hiring top quartile performers is part of the core DNA in all HCIG companies, and as MD of HCIG Private Equity, I am passionate that all of our businesses are led by people ahead of product and service. Within Caritas, getting the right management team correctly incentivised and managed into the business has been one of their key successes. Even when a market hardens, it goes to show that good people will drive performance.”
Strategy is key
As a strategic investor, HCIG provides potential partners with a combination of financial investments, as well as commercial expertise - essential to launch a business. With an expert investment management team comprised of highly experienced and professional entrepreneurial talent who are focused on adding value to joint venture partners, HCIG offers a wealth of individual expertise, as well as seasoned Directors who have launched, built and scaled recruitment businesses.
Ramus further comments “Here at HCIG, we pride ourselves on the quality of service and value we add to our joint ventures. We invest in people across a number of industry sectors, with a focus on high quality training and great career prospects.”
Follow market demands
As a valuable addition to the HCIG pack, and a solid footing in global markets, international recruiter ewi are forecasted to drive a profit growth for HCIG over the next 3 years of £3m, to serve a gap in the market. And HCIG have yet another new start-up on the horizon to fill another space for opportunity in the actuarial market, named Visir, forecasted to add £1m of profit over the next 3 years.