Diagnostic tool for recruiters

To assesses their ability to achieve their strategic goals



Recruitment companies can now benefit from a new diagnostic tool which assesses their ability to achieve their strategic goals, according to joint developers Intelligent Human Capital Management (IHCM), a consultancy providing professional services to the recruitment industry, and Cohesion Capital, a corporate finance practice providing strategic consultancy, fund raising and merger and acquisition advice to mid-market growth companies.

ìThe recruitment market, which is worth an estimated 22 billion, is facing a series of unprecedented challenges as the economy weakens; clients demand ëmore for lessí and legislation challenges traditional business models,î according to Nigel Barratt, chief executive of Cohesion Capital. ìCompanies must react to these challenges by re-thinking their strategies if the value of the company is not to be diminished or completely destroyed.î.

The new tool, called Credentia, has recently undergone extensive trials, including most recently with a large owner-managed recruitment business based in the northwest. The diagnosis highlighted a number of key issues, ìThe Company will face a number of challenges in achieving its short to medium term goals,î says Nigel Barratt. ìIn particular, for example, there is a skills gap which needs to be filled either by adopting a more aggressive recruitment policy or even by considering a small acquisition.î

Cohesionís relationship with IHCM provides clients with expertise from within the industry in addition to expertise in analysing a companyís financial and strategic position.

ìCredentia looks at the business as a whole: its customers, management, staff, processes and finances to produce a series of recommendations which IHCM/Cohesion can then assist in implementing whether it be a key account management programme or the sale of the businessî says Steve Newman of IHCM.

Steve met Nigel when the two worked together on the sale of Steveís former business to TMP Worldwide and was impressed with his approach, having advised on the sale of a number of recruitment businesses he has a real feel for the market. ìI enjoy working with entrepreneurial growth companies and the recruitment sector has many such companies. In the current climate forward- looking companies have an excellent opportunity to seize market share and build real value,î says Nigel.

Further details about Credentia can be found on Cohesion Capitalís web site at www.cohesioncapital.com