iMultiply Resourcing, the recruitment agency specialising in finance staff for high-growth businesses, has reported a doubling of turnover, rising £300,000 to £600,000 in only its second year of operations.
The company announced its full-year results this week and said it would double the size of its workforce, hiring an additional eight recruitment consultants by the end of 2016.
"During the past year we opened a division focused on temporary staff, which has contributed significantly to our year-end figures and to profitability," said Managing Director Kirsty Mackenzie. “We also made our first hire for our Glasgow team, which will focus on finding quality finance staff for growing companies in the Glasgow area.”
The 100% growth in revenue has been attributed to the company's unique approach to the market, including a consultative relationship with companies and a unique compensation scheme which links consultants' bonuses to customer satisfaction.
iMultiply was the first recruitment company in Scotland to link staff bonuses directly to customer satisfaction. Recruitment industry veteran Paul Atkinson, who joined iMultiply as a director during the year, said iMultiply’s growth was due to its combination of strengths.
“iMultiply has made fantastic progress not just in turnover, but also in profitability. That's down to the positive ethos and leadership from Kirsty, who's pulled a great team together to achieve these results," he said. "They're not just providing great service to clients, they treat their candidates exceptionally well, which is why they're able to serve the market with the right people for the right positions.”
Mackenzie said many companies are disengaging from their traditional recruitment suppliers and looking for something different from the market..
"There are so many recruitment agencies out there that clients often can't tell the difference between them,” she said. “Because iMultiply is so focused on customer satisfaction, it makes us memorable and it encourages companies to give us a chance. And because they get great results from us, they're coming back. Repeat business was a big contributor to our rise in turnover."
Growth through trust
iMultiply is also launching its revamped website this month, echoing its customer service focus and its "growth through trust" approach, to candidates and companies.
"We’re all about business growth and personal growth," she said. "We’re becoming known as a trusted recruiter for entrepreneurial businesses. But we also want to help candidates grow their careers by placing them with dynamic companies. Companies are talking about growth again, and fast-growing companies need the very best people. That means working with an organisation like ourselves, which is networked."
The company is recruiting now for additional recruitment consultants to join its Edinburgh office. It's particularly seeking experienced consultants who are passionate about service. Experience with and knowledge about entrepreneurial and fast-growing companies will be an advantage for applicants, but not essential.
"What's most important is that heartfelt commitment to our customers," she said. "We're an ambitious business, and in that way we have a lot in common with the entrepreneurial companies we serve. I think many recruitment companies tend to be stuck in their ways, doing what they've always done because it's always worked. But all of us here are focused on how we can do better, even if that means changing how the recruitment industry works – which is, I think, what we're doing."
iMultiply's new team members will chiefly have a focus on the Glasgow market, but will be located alongside the team in Edinburgh.