[EP 202] Maximising the Value of a Recruitment Business in 2022

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Joanna:

Hi, it’s Joanna Oakey here and welcome back to The Deal Room podcast, a podcast proudly brought to you by our commercial legal practice Aspect Legal. Now today we talk to one of our favorite serial guests Rod Hore of HHMC Global. In this episode, I talked to Rod all about the hot new trends and how to maximise the value of a recruitment business in 2022. We discuss niche strategies, talent, attraction, compliance, and the rising costs the face the recruitment industry. This episode is valuable listening for tips on maximizing the value of a recruitment business and planning for exit. So sit back, relax, and here is our discussion with Rod.

Rod, I just wanted to say a massive thank you for coming back to The Deal Room podcast, you are one of my absolute favourite guests. So it’s always a pleasure to have you on the show.

Rod:
It’s a pleasure to be back again, and always many things to talk about. It’s a wonderful world of business at the moment.

Joanna:
Yeah, it’s a very interesting landscape. It’s an unusual landscape, there’s two, I guess, two components of the m&a in recruitment that make it unusual. The m&a world is in a very unusual spot right now. And then recruitment, obviously, also has, you know, has had some real challenges coming out of the Bedlam that has been the last couple of years. And so when you merge them together, it just really is some very unusual space that we’re in right now, isn’t it?

Rod:
It is. And there is the detail is so interesting, you can say things that are very high level, and you say, Oh, yes, business is going great, or something like that. But the detail is actually fascinating. You know, it’s a, it’s a complex world out there at the moment,

Joanna:
It is complex and I guess this, this, you know, dovetails so well into this survey that you run annually. I love the survey that you guys run. And it brings out so many interesting themes and topics that are relevant to the recruitment industry. Before we start to dig into that, I just want to make sure that we’ve let our audience know about this fabulous Buy Grow Sell Summit that is coming up really soon. And if you’re listening to this, after the summit, then you’ll also be able to access recordings after the event, but it’s definitely something not to miss and Rod and really excited we’ve got a really strong lineup, talking specifically about the recruitment industry in this food, this concept of buy, grow and sell, you know, and how it impacts the recruitment industry, how recruiting firms can set themselves up, you know, through using acquisitions for growth, how to properly grow, and scale, particularly in these difficult times, and then how to really get themselves up for maximum exit, I’m excited about it, maybe I don’t know if you have a few words that you want to throw in about this some summit that’s coming up?

Rod:
Well, I’m excited about the whole three days. Because there are some great speakers. And there are some topics that are really relevant to every business owner and every leader, in business and professional services. But then, of course, there are some very specific things that relate to the recruitment industry. So a little two-hour slot on the second day of the conference, we want to really dig into specific issues for the recruitment industry. And we got a great lineup of speakers and a big panel session so we can answer your questions. And very, very much looking forward to it. I think it’s going to be alike a little cherry on the top for those who attend the whole conference that has got an interest in the recruitment industry.

Joanna:
Absolutely. I’m so excited about it. And, you know, just so exciting to see some of the speakers that you’ve got coming along. It’s, it’s going to be quite the event. But I guess let’s then dovetail into your latest survey, maybe let’s start by talking about what the survey is and why you run it on an annual basis.

Rod:
Okay, so we started, this is the ninth survey we’ve just released, we do it every six months. And so after year five, I suppose that means and we wanted to the goal was to try and get some trends about how people were feeling about the industry. So within the recruitment industry, it’s difficult to get local information across Australia and New Zealand. So we’re asking the same set of questions about how did you go for the last six months? What are you expecting to do for the next six months? What are the opportunities for you? What are the barriers for you, but then we do that every survey. And the data from that is fascinating, especially as you can imagine over the last couple of years where everything just went haywire. But we always have a couple of additions to that. And in this particular survey, we wanted to have what we call their final look back at COVID. Because we don’t want to talk about it anymore. So not only some survey questions but also a lot of others have contributed data so that we’ve got a really good view of everything back over the last two years. And then we ask people their thoughts and opinions and forecast for what they thought was going to happen in 2022. And, and that gave us surprising information and I think really highlighted some trends. They’re a little bit different, and maybe showing that what you’ve got to do in 2022 is not returned to normal, but you’ve actually got to be focusing on some slightly different things to take advantage of the market and to enter really create the value in you in your business.

Joanna:
And just out of interest, how is it that keeping this tab on market trends really links into that element of exits? That, you know, obviously very well known for Ron, how do you what’s the linkage with a with at all,

Rod:
it’s like all good benchmarks is that nobody gets out of bed to be average. Okay, nobody runs a business and devotes all of their time and sweat and energy to being just an average company. And without some measurement, and without some understanding of where you sit compared to what’s going on in the marketplace, I think people don’t have the that, you know, that immediate goal and the drive to be able to say, we need to be better than this, we need to improve this area, we need to improve that area. And the recruitment industry is made up of a lot of small to medium businesses and a lot of people that are running their business for the first time. And they don’t necessarily have years and years of experience running the business. And so anything that we can help people with, with guidance to show them what they need to do to be excellent. And to create value and to be of interest to people who might be looking to acquire in the market that helps the whole process. So So we’re hoping that we can make better businesses, which is a very generic term, but in but we can actually create wealth for business owners, by them focusing on the things that are going to make them both attractive and valuable.

Joanna:
It’s an interesting point, I’ve actually finished, here’s that hot press announcement of my draft of a book that I’ve written, it’s all here focused on buying, growing and exiting, actually, how about that. And, and I wrote the book because I’m just I’m constantly amazed at how little understanding business owners have at exit of what actually creates that value at exit, you know, they’ve got all of their eggs in this business basket generally, without any understanding whatsoever, of what creates that, you know, the wealth creation abilities within their business and how to maximize and then I love it, when I have discussions with you abroad because you’re so focused on that message. And that understanding and so many businesses just don’t understand, you know, it’s just such a, it’s an important message isn’t it’s critical.

Rod:
Yes. And it’s obviously bigger than just creating value because people think creating value or multiple of profit or something, but that’s sort of like the pub door come in at, it’s a bigger story than that. And so people need to make themselves attractive so that people want to talk to them and want to talk to them about acquiring their business, and they need to create value in the right areas so that people see it as low risk and positive thing to acquire. And then they need to create value as well so that there’s a decent number there. And so you know, it’s that all-around understanding of what is going to be attractive to a potential acquirer, and so that they will come to you, and they’ll negotiate with you. And it’ll be an easy transaction, and they’ll want to do it, and they’ll pay the proper price. And, and so it’s, you know, it’s a really, really great conversation. And it gets away from all of the stuff that happens down at the pub, I talk about pep talk a lot, you know, because you got to dismiss that a little bit, and get back to some reality about the, I suppose the broader and more detailed version of what you need to do in your business.

Joanna:
Yeah, and I think, you know, I just think it’s such an important point for businesses that are growing in a particular industry to have a very close connection to the people who are the figureheads, in, in, in exit in that industry, you know, obviously, as you are in recruitment, because the whole point is, you know, you see what makes a good sale, you see where the real you know, where the real fight is on from on the acquisition side what businesses, acquirers really want to be targeting. And it’s just it’s, it’s the knowledge that many business owners just don’t even realize they need to tap into early on in the piece to understand how they piece together growth. And what growth with exit in mind actually looks like. Yeah,

Rod:
for example, a lot of people are very surprised when we say it takes five years to sell a business and I got five years, but it’s actually, you know, two years to get ready because there’s always some things that you should do with external review that helps people and get themselves most prepared to go to market. And that can be in all sorts of areas, it could be some corporate issues, not just about profit, and so on, obviously takes time to do a transaction. And then there’s usually some lingering component of the transaction, there might be an urn out or whatever it may be. And so you know, it’s not something to wake up on Monday morning and say, I’m going to sell my business. It’s actually something you need to do a little bit of planning for and educate yourself on and go through a process.

Joanna:
And I know we’re completely deviating from our topic. but that’s what makes this podcast special, you never know where you’re going to go. But it really is that reality, I find that when people start thinking about exits, you know, they don’t think about exit until they’re at that point of exit. And then the problem is, they have this emotional connection to feel like they need it to happen immediately, they just can’t even think of themselves staying in the business for another five years to do it properly. So

Rod:
we were very happy to say publicly that we talk to more people that are selling them we take on as clients because they quite often come to us and say, I need to sell my business. And it’s exactly the wrong reason, or they haven’t thought through the issues, or it’s actually a poor personal choice for them to not continue to run their business. And so you know, when you sit down and look at the personal components and the business components together, and quite often the best opportunity for people is to actually get a little bit of focus and, you know, continue on with the business for some period. And then maybe you have an event further down the track.

Joanna:
All right, well, look, let’s, let’s actually then get stuck into the outcome of your recent survey. So maybe, let’s just start with the hot new topics.

Rod:
Yeah, look. So we didn’t set out to write the report to say, here’s a bunch of hot topics. But when we started analyzing the data, we saw that some things were had changed a lot. Okay, so so it’s because we’re running been running the survey for a couple of years before the pandemic, two years during the pandemic. And now we’re coming out of it. We’re saying that actually, there’s some differences and some questions that we might have asked three or four years ago, and now being answered very differently, or the number of people participating in a particular activity, it’s quite different. One of the things I want to start with, though, is that when we were trying to look back on COVID, we asked a question about how has COVID impacted you the person who’s filling the response in the survey? And, and we asked questions in three areas, how has it impacted you personally? How has it impacted you from your professional life? And how has it impacted you from your business? And we expected those three answers to be fairly similar. And I was really quite surprised at the variation. And this reminds us that we need to continue to be empathetic leaders and we need to treat everybody as an individual. And we need to not make generalizations or assume how people are feeling because a lot of people said, this is the best time I’ve ever had for my business. But personally, it’s been horrible. So we asked people to fill it in on a one to 10 scales. So you know, people might have been in lockdowns, Melbourne and Sydney, you know, kids at home, you know, just the whole personal issue actually really came out in the survey more than I expected. So it might be the best time ever for my business. But I’m ranking my personal two years have been awful. And the professional one was actually halfway between so there was a difference between how’s my business has gone? And how have I gone personally? So that was actually a real, okay, put that in light, because we need to just continue to be as nice if I can use that word be as nice to people as we have over the last couple of years. This isn’t over yet. In terms of the impact on people,

Rod:
So anyway, just I wanted to sort of say that and put that aside, but uh, but it was, it was an interesting piece of information that came out. So one of the things that if I could make a generalization, and this is a little bit specific to recruitment agencies now is that those companies that are doing the basics well are going to prosper, going forward. And those companies that are maybe have been cutting corners, because the markets been great, and the market is great. And everybody’s having a fantastic time and revenues up and profits up and so on. But those companies are doing well, so that shows itself in a couple of areas. A lot of people are saying that the biggest challenge they’ve got and the biggest barrier to profit growth. Now going forward is actually the attraction of new candidates. In other words, there’s a staff shortage out there. Well, those companies that have done all of the basics really well and built talent pools and done all the hard work, which is sometimes unrewarded, are now better placed than those people who’ve been skating along the top and just relying on job ads and all those sorts of things. So you know, the, it’s coming home to roost in terms of how that works. Say second thing in that area is that those people who grew their business by just going out and hiring an experienced staff of the market, or maybe waiting for some UK people to come over who’ve got experience or whatever it may have been. They’re struggling at the moment because there’s a huge staff shortage within the recruitment industry. And so if your business model is based on hiring experienced people, you’re going to have a really tough year. So the people who’ve done the hard work of either experiencing of hiring people that are having the sectors that they work in, or hiring juniors and training them up. But having that learning and development capacity, and whether it’s internal or external, having that learning and development capacity, those people are continuing to grow. And the other people are scrambling to try and catch up with that. So that’s sort of all the basics about running a business, you know, how am I going to be sustainable in this area, wherever I’ve got access to the talent, or if I’ve got the talent, internal, what are the relationships, I’ve got to be able to do good things within the business. And, yeah, it’s, it’s a great time for a period for a number of companies. But a lot of companies are running into challenges in this particular market.

Joanna:
Fascinating, I love hearing this, it’s just so interesting, we see subsets of, of the industry, and it’s just so interesting to see this across the board, you know, type of study of the industry. And we quite often, I think, deal with parts of the industry that are perhaps more organized more corporatized. And some of these things you’re talking about a really really feeding into the reasons why that is. so critically important. And I know this is a topic that’s dear to your heart Rod. But, you know, maybe if we talk, if you can talk very quickly about what you think has the results have shown in this latest survey that really linking with that, you know, that feeling you have about that importance of, you know, taking your business looking at it from a more corporate perspective.

Rod:
Yeah, look, I don’t know the numbers in this, because it’s impossible to get the data. But I always estimate there are about 8000 recruitment companies in Australia, we don’t know, it could be 6000, it could be 10,000, we’re not really sure. But the vast majority of those companies are very small, and selling without in any way being demeaning in some ways they can be put aside, in this conversation, we’re talking about organizations that have sort of got to the medium size and growing and have got, you know, leadership structures and management structures, and they’ve got some capacity and sustainability about their business. And that those companies, a great portion of those companies are doing very, very well at the moment. And the number of companies that I am really enthused about that are having this strategic sort of conversations and having the strategies on the table that they’re evaluating in a manner that they probably weren’t previously, is a very positive thing. So I think it’s been a great business lesson over the last couple of years for a lot of organizations. And I think the quality of leadership and the rewards for those organizations that have put the hard work in over the last couple of years is actually really showing, I could put it another way, from an m&a perspective, about four or five or six years ago, there were the largest companies in Australia were pretty well bought out by Japanese US UK companies. And so I was a little bit despondent about whether Australia was going to become a branch office, you know, we’re just going to become a branch office of international companies, quite the opposite. And they’re really excited about the emerging companies in Australia that are bursting through and really starting to show themselves. They’re making great profits. They’re making great businesses in terms of staff engagement, in terms of presence in the marketplace, in terms of use of technology, all of those sorts of things. And they’re delivering, and they’re growing. And so it’s a very exciting time. And maybe if we didn’t have the big shake up that we’ve had during COVID, we wouldn’t have actually got that.

Joanna:
Isn’t that a fascinating outcome? You know, and, and I, I’m with you what an exciting, you know, a progression that we’re seeing, and you can

Rod:
actually say 10 or 12 years ago, when we had the GFC, the global financial crisis, it actually wasn’t felt hard enough in Australia to change anything, because it was all over and done within one quarter or two quarters. And we’re back to where we were. And so no, no new habits were learnt. We didn’t change anything we just carried on with the way we were before. And that meant that we had basically an unbroken period of 20 something years of growth. And then we’ve had this massive change where people have had to really re-evaluate what they’re doing, and the great leaders and have come through, and then great companies have been formed.

Joanna:
I love it. I love it. Now, I guess talking about other themes that have come out, I’m interested, you know, where compliance ranked in terms of the focus for organizations in the recruitment sector at the moment.

Rod:
So So compliance was probably always put in the category of like governance is, yeah, it’s something I read about in the paper, but it doesn’t apply to me. And within the recruitment industry, that is not the case anymore. The legislation just continues to be more onerous every year. It doesn’t go backwards at all. And also the media reporting around it. And the awareness of your brand in the marketplace continues to rise. And so wage theft is an example, if you are not so on top of paying your contractors, for example, then your name may appear in headlines in local papers. And as a company, your reputation is shot, you could lose 20 years of reputation overnight.

Joanna:
And it’s such a motive. It’s such a motive headline that wage theft, you know, and it generates just such, you know, emotion in the responses, I see a lot of these.

Rod:
And that’s just one element of compliance. I mean, if you’re working in healthcare, then you cannot make a mistake if you’re working, you know, etc, etc. I mean, everything from labour-hire, you know, like a forklift driver has to get a license to sit and renew his license when it’s due. And all of those sorts of things. I mean, the importance of compliance is in every recruitment agency, and it is critical, it is one of the foundation legs now. It’s not something you can give just lip service to.

Joanna:
And when we reflect on compliance from an m&a perspective, as well, I think it’s so incredibly important to understand any sort of sophisticated acquirer, you know, and if you’re looking for a strong multiple in your sale, you know, you want to be attractive to, you know, to a breadth of acquirers, but this concept of how clean you are, from these compliance perspectives is absolutely critical at the moment, you know, they impact not only on your pool of buyers, and how you’ll behave, and how you’ll get through due diligence, and you know, obviously price at the end of the day, whether or not, you know, you’ll have a large enough pool of buyers and who they will be, but also on those post transaction receipts that you can take out, you know, the warranties and the indemnities. And, and the earlier you set up strength in your compliance and governance, you know, the cleaner, you will look, when it comes to that point of ultimate exits, or funding or whatever it is that you’re looking at,

Rod:
you need to have a very, very clear story about all aspects of the business. And that could be, for example, what do you do about long service leave for your temporary and contract workers? You know, do you have a legal position on that? Is it written into your contracts? Is it clearly understood? Is it recorded? You know, what is your position because you need to be able to show all of that in due diligence. And that’s just one of many. Because if you can’t show it, and it’s uncertain, then the purchaser might say, well, actually, I’m going to take off some money off the price, because I need to make an allowance for something that might appear in the future. So you know, it’s not just in the contract, it can actually impact the price as well.

Joanna:
Absolutely. Okay. Well have the other any other topics that you feel were real standout?

Rod:
In, one of the things is that, again, a very recruitment industry specific one is that perm recruitment at the moment is actually on fire. I mean, so the the number of people being placed into permanent positions has gone through the roof, and so on. And perm recruitment is great in terms of cash flow for organizations, so and usually for profit if they’re doing it as well. So recruitment agencies at the moment are cash rich, in general, and profitable in general. And the challenge is, is that that’s not necessarily the right business mix that you need to create value and to sell your business in the future. So temp is hard at the moment. But what are you doing as a business owner to really focus on temp and contracts so that as temp and contract become a little bit more even-handed in the marketplace, you’re actually building the business in the manner and in the structure and in the style that you want to go forward into the future and to create the maximum value in the future. So Greg savage actually has a term for being seduced by perm. And I think that’s true because everybody loves the immediate hit. You get seduced by the immediate hit of placing somebody but you also get seduced by the cash impact, okay, it’s a positive thing. And the contract is harder. And as a leader in the organization, you constantly need to be looking for those more recurring levels of revenue, because that’s what’s going to add value to the organization in the future, very hard to do at the moment.

Joanna:
Love it. It’s such an important point, isn’t it? You know, making sure the decisions that we’re making today aren’t just about today but are about the future as well.

Rod:
Don’t miss the opportunity for a perm. But boy, you’ve got to be actually having a focus and discussing internally and putting specific actions in place to not lose where you want to be in the future. Yeah, yeah, absolutely. Find the balance,

Joanna:
find the balance. I love it. I love it. And so are there any other last topics that

Rod:
yeah, look at a look, I felt like the Christmas grouch when I start talking about cost management and so on. Because you know, it’s doesn’t come, it doesn’t come naturally to me, I’m not a, I’m not an accountant. But,

Joanna:
but we all like talking revenue a bit more, don’t

Rod:
wait, show me the profit. But there are some costs, which could really add a control at the moment. So one of them came out in the survey we did as well. People are prepared to pay above award rates to get people into their business because there’s such a shortage. I mean, that that’s a decision that will live with you forever because you’ve just, you’ve just corrupted your whole policy and your whole process about staff, and you do need to now pay everybody else more money. And you know, I mean, it causes problems. People are paid to pay additional commission structures for staff that are coming into the business. Again, that’s really hard to undo once you’ve done it. And then there are all the other costs, I mean, people are investing quite heavily in technology. But we found out that something like this is the number off the top of my head, but something like 70% of the people doesn’t do a return on investment on the technology that they get into their business, like at all full stop. And so so all these costs have grown and grown and grown within the organization. And I don’t think there’s any awareness of how difficult that’s going to be to wonder. So people are making very short term decisions to to get through the year.

Joanna:
But can we dig into then what are the what are some alternatives? So you know, in a tight labour market, you’re reacting by increasing what’s on offer, from a financial perspective, and I completely hear what you’re saying, You’re digging yourself this hole for the future. Let’s talk about what some alternatives might be, though.

Rod:
Well, in staffing, outsourcing has grown rapidly over the last 12 to 18 months, and it should have Australia’s been lagging, what’s been going on in the US in the UK, especially for a decade. And so as somebody who’s particularly interested in that area, because I have some relationships in that area, then that’s been pleasing to see. And so that’s a topic that wasn’t even been talked about, and considered previously by most recruitment agencies in Australia, and is now a hot topic. So using offshore resources to supplement your key onshore resources, your client-facing resources, it should have been part of the mix a long time ago. I won’t say the majority, but an increasing number of people are now considering they’re growing, what they’ve got a really working their way through that. And it’s not just recruitment processes, it could be back office, it could be marketing, it could be general administrative support. So all of that is, is now you who it’s finally happening. And, and that’s, that’s one way of sort of offsetting the cost structures. So you don’t need to hire five people, you might need to hire two people and get some support. Because there are smarter ways of doing things. Yeah, I

Joanna:
guess, looking at the problem from a broader perspective, then, you know, just the old tools,

Rod:
and greater use of technology. And so the best, the best companies are using superb technology, because the technology has really improved a lot. And there are great tools around which are not only helping you with compliance, and with pRoductivity and so on, but are actually helping you reach more people so that the whole sort of I don’t want don’t want to lump it into social media, but the whole, you know, toward reaching out the candidates and so on that all of the tools around that, you’ve got to find tools that are helpful for you in your particular environment. Yeah,

Joanna:
and I guess, as well, with rising costs, potentially rising inflation, we also then need to come full circle and look back at, you know, how often are we reviewing our rates? You know, are we on pace there in comparison to how our costs are moving as well?

Rod:
Yeah, and I think the average recruitment agency isn’t as good as a legal firm and doesn’t actually have a right review every year. And so I mean, nearly every person who’s running a recruitment agency was not in a senior position 30 years ago when we last had inflation in Australia. And so inflation is something that is brand new to nearly everybody. And it goes it’s more than the clauses in your contract. It’s actually how you treat your staff and, and how you do your forward budgeting and how you deal with clients and so on. It’s, it’s going to be a major, major impact as it takes hold

Joanna:
fascinating issues that you’ve covered off here Rod and I mean, what a great thing for you to be doing regularly this some this sort of temperature check on the market and then you know, out of that finding the elements that are required improvement owners should be really focusing on in terms of how they build value and how they deal with some of these issues that really across the board, actually, it comes back to one of the things that we’re saying right at the beginning about the difference perhaps in, in the feelings of the owners themselves versus the business. And they, you know, being a difference in those two areas that really does, it does remind you that owning and running businesses can be a bit of a lonely space sometimes. And it’s so great to hear that there’s a whole heap of other people who are suffering the same sorts of, you know, issues that you’re going through, you know, and I, and I like reports on trends from that perspective as well. It reminds us that there are a lot of other people who are working hard to find ways to grow businesses.

Rod:
Yeah, I think the rise in either leadership groups like, you know, entrepreneurs, organization, and all those sorts of things, but also the number of managers and owners who’ve gone out and got a personal coach, or they’ve set up an advisory board or whatever it may be. I think that has risen dramatically over the last two years. And that is such a positive thing, you know because you need to have different conversations at different times, and you need sort of a Can I use the word a safe space to have those conversations, and for business owners that stopped at being such a lonely environment, and they can actually sit down and have a conversation about things which are not relevant in the day to day running of an organization?

Joanna:
Absolutely. Look, as I said, I think the survey that you’re running is just fabulous. It’s so insightful. I love seeing the results. And how do our listeners get a copy if they actually if they want to see the results because I think it’s something you actually publish and have available to our listeners.

Rod:
Yeah, it is available for free. There’s a link on directly on the top of our webpage, HH mc.com. Today, you and I’ll provide the link to you. So you can put it in the show notes.

Joanna:
Brilliant, we will. And we’ll also put a link right through to your Rod so that any of our listeners in the recruitment space can reach out to you if they want to talk further about some of the things that we’re talking about today. And just a reminder, of course, we’re going to dig into some of these really relevant topics about what to think about as you’re growing your recruitment business. So we’ll definitely put in the show notes, a link as well so that you can register for that event. And once again, if you’ve missed it, you will still be able to access for a short period of time, some recordings, but it’s far better to be on the life. We’ve got a live panel going. That Rod is hosting, talking specifically about some of these issues that are going on in the recruitment sector at the moment. We’ve got some great speakers, and it’ll just be you know, there’ll be opportunities for you to ask questions and get questions answered as well. So, so I’m super looking forward to that. We’ll have links in the show notes for that. Rod, can I just say, a huge thank you for coming on to the show. Again, I always enjoy our discussions together and always learn a lot.

Rod:
Oh, thank you so much. I’m really looking forward to the bias by growing cell summit in just a short amount of time. And look forward to seeing everybody that

Joanna:
Brilliant. Thank you.

Well that’s it for this episode. I hope you enjoyed our podcast episode today with the fabulous Rod Hore all about the hot new trends and how to maximise the value of a recruitment business in 2022 and just a recap of this episode, of course, in the episode, we took a look at HHMC Global survey report and its relevance to your exit. What the survey tells about recent trends in the industry, how to offset the current cost structure and how to effectively create value at exit which ladies and gentleman is of course, such an important topic that we cover again and again here on The Deal Room podcast. And it’s so important for those of you who are building for an ultimate sale. Now if you’re interested in talking to Rod Hoare, then just click the link in the show notes or head over to our website, www.thedealroompodcast.com as we link straight through to Rod at HHMC Global and of course, at that website, you will also find a booking for the free 15 minute discussion with our legal team if you would like to discuss any aspects of sales or acquisitions of businesses, shares or assets. Well, that’s it. I hope you enjoyed what you heard today. If you did, please subscribe to The Deal Room podcast on iTunes or your favorite podcast player to get notification straight to your phone. Whenever a new episode is out. We’d also love to hear your feedback. So please leave us a review and rating if you’re already one of our subscribers, or even if you’re listening to this podcast for the very first time. Well thanks again for listening in. This has been Joanna Oakey and The Deal Room podcast, a podcast proudly brought to you by our commercial legal practice, Aspect Legal. See you next time.

Our Business Sales and Growth by Acquisitions Services

Aspect Legal has a number of great services that help businesses prepare for a sale or acquisition to help them prepare in advance and to get transaction ready. And we’ve also got a range of services to help guide businesses through the sale and acquisition process.

We work with clients both big and small and have different types of services depending on size and complexity. We provide a free consultation to discuss your proposed sale or acquisition – so see our show notes on how to book a time to speak with us, or head over to our website at Aspectlegal.com.au