Since our company opened in 2004, we have often had to revisit the question of diversification. Getting the balance right has always been a fine line the advice from colleagues and business contacts has always been forthcoming… and varied.
The general consensus is to stick to your specialism. Concentrate on what you know best and where your expertise lies.
For our business, Completely Care Ltd, the specialism is recruitment for social care, healthcare, childcare and education. This is a wide area to cover and includes a variety of jobs including support workers, nurses, care managers, project workers, nursery nurses, education specialists, care assistants, healthcare workers and many more.
The question has arisen as to whether to reach outside of these areas and delve into other areas of recruitment. This could be mainstream commercial recruitment, catering, industrial, cleaning or any of the many other specialisms in our sector. Recruitment is the same irrespective of the industry, after all.
So what is the right balance? Should a business stick with it’s specialist field and expand it’s reputation within that field? Is it better to expand geographically instead? Or is it better to expand those specialisms and grow the business into a multi- sector company?
Please leave your comments below. I will be interested to hear what other members think on this subject?