Diversification for recruitment agencies: “Never get target blind”
In a recent interview, Ann Swain, founder and CEO of APSCo, talked to Bev White, CEO of Nash Squared, for a conversation about (amongst other things) the importance of diversification in business.
Bev shares her insights and experiences in guiding Nash Squared through a journey of expanding its services and global presence, showcasing the need for adaptability and openness to new opportunities in today’s fast-paced recruitment sector.
APSCo members can also learn more from Bev and Ann by watching the full interview right here. Amongst other things, they also discuss AI in recruitment, people strategy and diversity.
Diversification in Nash Squared’s strategy
Under Bev’s leadership, Nash Squared has actively pursued a strategy of diversification, expanding its reach and services to meet evolving market demands.
In our interview, Bev describes the approach: “We're working with CIOs, CTOs and CDOs to really solve their technology problems [...] through finding fantastic talent, providing contractors with incredible skills and offshore services.”
This strategic pivot has not only enhanced Nash Squared's market position, but has also allowed it to weather changes in the global market with greater resilience.
Learning from competitors and other industries
Bev highlights the value of observing and learning from both competitors and other industries. For recruitment agencies, this strategy can be particularly effective.
By analysing how companies in sectors like technology, retail or healthcare innovate and adapt, recruiters can glean insights into new service offerings, customer engagement strategies and operational efficiencies.
Bev’s advice to “cheer on your competition” underscores the importance of a mindset geared towards continuous improvement and cross-industry learning. This broader perspective can help recruitment agencies to identify emerging trends and technologies that could revolutionise their operations or open up new markets.
The role of international expansion
International expansion is a key component of Nash Squared's diversification strategy, as exemplified by their recent developments in Toronto and plans for Frankfurt.
For recruitment agencies, venturing into new geographic markets can offer substantial benefits. It exposes the business to different cultural dynamics, recruitment practices and regulatory environments, enriching its global understanding and capabilities.
Expanding internationally also means tapping into new talent pools, which is crucial in a globalised economy where talent can increasingly be sourced from anywhere in the world. This geographical diversification can lead to more robust business models capable of withstanding regional market fluctuations.
Trade delegations enable you to make a detailed and cost-effective assessment of opportunities available in a new location. APSCo has two decades of experience running successful international Trade Delegations. Find out when our next trade delegation is and details on how to join.
A final thought
Under Bev’s leadership, Nash Squared is exemplifying the importance of diversification in achieving sustainable growth and resilience in the business world. Bev's philosophy of “never getting target blind” and continually seeking new opportunities and learnings is a valuable blueprint for any recruitment business aiming to thrive in a dynamic and competitive environment.
For further insights and to understand more about Nash Squared’s successful diversification strategy, APSCo members can watch the full interview here.