There is always speculation and opinions about where the recruitment industry is heading and projected forecasts for the future. It is crucial for us recruiters to keep up to date with the latest reports in order to direct our own businesses in 2016. RedBox Recruitment are proud members of the REC and use their information and extensive reports to expand our knowledge on the market place and to discover the demands as well as the decrease of topic importance within our industry.
The latest REC recruitment industry trends survey conducted states that UK recruiters ended 2015 on a high, having generated record-breaking levels of turnover (£31.5bn) for the second year in a row – making £28.5bn from temporary/contract business and approximately £3bn from permanent placements. This is all positive news.
Kevin Green, REC chief executive explained that ‘2015 has been a cracker of a year for the recruitment industry. Sales peaked at £31.5bn in 2014/15, with growth of £1.8bn or 9.7% compared to last year. I was delighted to see a significant rise in permanent margins as employers hunted for the talent they needed.’
So what do we have in store for 2016? With the UK economic growth increasing at a steady pace, there seems to be no reason why this should lose momentum as we move forward into 2016. There is predicted growth of 2.5% from both the OECD and CBI, but what does that mean for us recruiters? It was found in the December Job Outlooks that the ability for employers to use agency workers to gain short-term access to key strategic skills remains of particular importance – cited by 86% of hirers in November. With skill shortages set to dominate this year, finding talent is more important than ever within our processes.
There is however the threat of UK referendum that is looming over large businesses which may affect their hiring decisions as they begin to operate with caution. The overall opinion from people is that remaining within a reformed EU is in the best interests of the UK jobs market.
As times constantly change, all we can do is be prepared and to keep up to date with the latest trends. RedBox Recruitment is excited to see what 2016 has in store and remains positive about the future of the recruitment industry.