RECRUITMENT company iMultiply has increased turnover above £1million for the first time in its three-year history, as it highlighted the importance of repeat business to its fortunes.
Turnover at the Edinburgh-based
company, which specialises in finance and executive hires for high-growth businesses, grew in the year it launched a new executive search division and opened an office in Glasgow. It had booked revenue of £588,000 the
year before.
The company said operating profits increased by 67 per cent in the year ended March 31, but declined to give a specific figure.
A spokesman flagged that turnover had been driven by growth in placements in the SME sector (small and medium-sized enterprises), technology and not-for-profit organisations. It also cited a high level of repeat business in a year when it claimed to be the first in the sector to link staff bonuses directly to customer satisfaction.
The company is now aiming to double its headcount in its current financial year as it focuses on expanding its temporary staffing division.
Having employed 11 staff by the close of its last financial year, iMultiply has already started to add to its headcount. It anticipates moving into bigger premises in Glasgow as staff numbers increase.
Kirsty Mackenzie, who founded iMultiply in 2012, said securing repeat business in the recruitment sector is “especially edifying because there has been a level of dissatisfaction with our industry historically.”
She added: “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 firm boosted its leadership throughout the year by appointing finance director Arturo Carbonell, who heads its executive search division, to the board. He has been joined on the board by John Gilbertson.
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