iMultiply Resourcing, the recruitment agency specialising in finance and executive appointments for high-growth businesses, has reached the £1 million turnover milestone in its third year of business. Year-end results for the company, whose fast-growing Glasgow office was launched during 2015, also showed a 67% increase in operating profit.
Kirsty Mackenzie, the company's founder, said iMultiply is on track to meet its goal of doubling headcount by the end of 2016, with a particular focus on expanding its Temporary Staffing division.
Repeat business was a key engine for growth during the 2015 financial year as more Edinburgh and Glasgow area companies were attracted to iMultiply's unique service-based approach to recruitment. The company was the first in its industry to link staff bonuses directly to customer satisfaction.
"The employers and candidates that we work with are asked to complete a customer satisfaction survey, and 98% of respondents say that iMultiply is a recruitment company they would use again and would recommend to colleagues," Mackenzie said. "That's a satisfying figure no matter what industry you're in, but in recruitment it's especially edifying because there has been a level of dissatisfaction with our industry historically. Companies are hungry to work with agencies who prioritise service and high-quality candidates, rather than throwing CVs at a vacancy and hoping something sticks.
“The companies we work with comment on the high quality of candidates we're providing, and we also hear from candidates that they feel our consultants go above and beyond -- like in-depth face to face interview preparation, and taking calls when it's most convenient for the candidate. Contactability has been a big issue in our industry, and I'm delighted to see that iMultiply is changing perceptions.”
New service packages for our clients
Key developments during the year included the launch of a new range of iMultiply Service Packages, including video-enhanced candidate cover letters, psychometric and skills testing, and transition packages for candidate families. iMultiply also expanded its advertising offering with a direct media-buying service for client companies, delivering online and print advertising, including client-branded ads.
The company's new Executive Search division continues to grow and has made a number of executive placements, including for an early-stage energy business. Heading up Executive Search is Arturo Carbonell, who also serves as iMultiply’s Finance Director. The company further expanded its board during the year with the promotion of John Gilbertson and is anticipating further internal promotions.
Glasgow on track for fast growth
Mackenzie said the Glasgow office under manager Debbie Shields looks set to replicate the success of the Edinburgh operation and is due to relocate to larger premises by 2017. "The market for fast-growing small and medium-size enterprises is larger in Glasgow, which is we why we expect the Glasgow office is likely to overtake Edinburgh in terms of size and growth," Mackenzie said. "Ultimately we expect Glasgow will grow to double the size of Edinburgh."
iMultiply's own recruitment drive is particularly focused on its Temporary Staffing Division. "The pace of interim staffing recruitment is so much faster – we're looking for someone who understands that sense of urgency and is accustomed to the speed of the environment," Mackenzie said.
The company continues to focus on its key sectors of high-growth and entrepreneurial companies and not-for-profit organisations. Clients include the investment company Par Equity, a venture capital firm supporting high-growth companies which is itself expanding rapidly. iMultiply recently filled two key vacancies at Par, including for a senior hire of Portfolio Manager.
“Portfolio Manager is obviously a vital resource in an investment business: iMultiply understood our requirements, especially the technical skills of the person we were looking for, and they provided an impressive shortlist,” said Par Equity Partner Paul Munn. “Recruitment is easy to do, but it’s not easy to do well. We get a personal and direct service from the whole team at iMultiply.”
An abbreviated verson of our story was recently published in the Herald.