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Better business plans translate budgets into results

Recruitment leaders have been getting better at producing a budget for the new financial year, but to bring this to life it's also critical to craft a business plan with key actions and milestones, says an industry advisor.

Recruitment companies are becoming "a lot more sophisticated in their budgeting and are getting a lot more help from external sources", says Navigator Consulting MD Tony Hall.

There's been a transition away from "suburban accountants" to more specialised advisors on the accounting front, and this is helping recruitment companies "focus on the business of recruitment and not get too bogged down in the financial aspect".

But although having a budget in place is important, the next step is to ensure it goes hand-in-hand with a business plan, he tells Shortlist...