Insolvency Practitioner vs Recruitment Consultant. Two very different careers requiring very different skills. Or so you would think.
However, while day to day, the jobs are very different, you may be surprised to learn that many of the skills gained by working in insolvency are actually highly transferrable to a successful career in recruitment.
At Ambition, we’ve had several ex-Insolvency Practitioners work for us over the years, all of whom have forged extremely successful careers in Insolvency Recruitment.
So if you’re an Insolvency Professional thinking of changing careers, a pivot into Insolvency recruitment could certainly be worth considering.
What are the skills needed to be successful in recruitment?
Below is a round-up of the top 3 transferrable skills you need in order to be successful in both a career in Insolvency and in Insolvency Recruitment.
1. Knowledge of Insolvency & Restructuring
To be truly successful as an Insolvency & Restructuring Recruitment Consultant, you’ll need to know the Insolvency market inside out, as you’ll be speaking with Insolvency Practitioners, both jobseekers and employers, on a daily basis.
For many people entering the recruitment profession, learning about the complexities of Insolvency & Restructuring and understanding the market is often the hardest part of the job.
So, as someone working in the industry, you will already have much of this knowledge which will give you a distinct advantage over other Recruiters. It will also give you added credibility when speaking with both jobseekers and clients as you already have insights into what certain roles involve and what it’s like to work in the industry - insights that most Recruiters don’t have.
2. Networking and building relationships
As an Insolvency Practitioner, you will find yourself working with many different people with different personalities.
This could be when speaking to HMRC, creditors or even colleagues. It will be important to take the time to build rapport and understand an individual’s situation when having these difficult conversations.
Networking will also be an important part of the job if you’re looking to progress your career in Insolvency & Restructuring.
If this is a part of the job you enjoy, then working as an Insolvency Recruitment Consultant could be a great fit, as you’ll be constantly talking to different people, building relationships and growing your network on a daily basis.
3. Time management
Most Insolvency teams are extremely busy and have to manage heavy workloads. So it’s likely that you’ll be used to juggling various tasks while having to meet strict deadlines.
As an Insolvency Recruitment Consultant, you’ll always be kept extremely busy, juggling multiple process while meeting client, candidate and internal deadlines. This means you need to have great time management and organisational skills, something that most Insolvency Practitioners already have!
My advice to anyone considering a career in Insolvency Recruitment:
If you want to be successful in recruitment, you have to come in with a positive mindset and be ambitious. It’s not something you can come into half heartedly, otherwise you won’t see the results you would like.
The job can be challenging at times, so it’s important to be resilient as there can be immense job satisfaction as well as lucrative financial reward.
My advice is to do your research on any recruitment firm you consider joining and specialise in an area you’re passionate about as this will help you keep you motivated always.
If you'd like to find out more about a career in recruitment with Ambition, find out more about what's it like to work here on our Work for us page or do feel free to reach out to me for a confidential chat.
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