A new survey has shown that for the third consecutive year, the UK recruitment sector is enjoying growth. One of the key influencers contributing to a strong recruitment market is the overall buoyant economic health of the country.
According to the UK Recruitment Index 2015, which is based on a record number of APSCo Deloitte Benchmarking Survey responses, recruitment companies are witnessing stronger performance than during 2014. The survey interviewed 200 recruitment firms throughout the UK.
Key Findings of the UK Recruitment Index 2015
One of the Index’s key findings was that 83% of professional recruitment agencies reported an increase in net fee income, which is considerably higher than the previous Index of 2014. Furthermore, the number of recruiters experiencing a fall in net income is half of what it was last year.
The study also found that 30% of recruitment agencies planned to open more offices during the next year.
In the light of the survey’s results, Ann Swain, chief executive of APSCo, commented:
“The UK recruitment sector is a £30 billion market and it is very encouraging to see that growth has not only been sustained but has also increased since our last report. This can only bode well for the overall economic landscape.”
So what exactly is fuelling the UK’s buoyant recruitment market?
Post General Election
During the month leading up to the general election, many sectors in the UK were a little fidgety and nervous. With an all-Conservative government now in power, many of the pre-election nerves have been eliminated and none more so than in the recruitment sector.
As Maria O’Donnell, associate director in Grant Thornton’s advisory team in the Midlands, said:
“The recruitment sector is certainly enjoying a buoyant period at the moment and now that the UK has a majority Conservative government we anticipate that any pre-election jitters will evaporate and the trend for increased deal activity will continue.”
Flexible labour is continuing to be a key driver of employment growth as the more flexible employment market is catering for employer’s requirements for more specialist workforces to fulfil contracts. With flexible recruitment patterns being noted as a driver of employment growth, it has been estimated that freelancers will be in a better position to secure competitive, lucrative contracts.
As the recruitment sector grows, many recruitment firms are placing more effort and emphasis on supporting growth in the sector and are concentrating on staff training. According to the 2015 Recruitment Index, 62% of the firms surveyed said that staff training will be an important feature in sustaining growth and promoting further growth.
Consequently, recruitment agencies are concentrating on building and maintaining strong teams and are re-modelling training packages to achieve higher talent within their company and subsequently generate better staff retention.
Reputable recruitment companies that invest in staff training can help take your business to the next level. It takes a recruiter with expert knowledge of their field to tap into the lucrative, fast-moving, flexible labour market.
If you’re not used to dealing with recruiters, making the first move can be daunting. If this sounds familiar, we have a few pointers that may help you identify a quality recruitment consultant.