Are you ready for the Recruitment bounce back?
Last month Kevin Green, Founder of What’s Next Consultancy Ltd, delivered an insightful presentation on how to ensure you position your business as the Recruitment Industry picks up momentum.
Here is a short section where Kevin shares data and his thoughts on the current state of the Recruitment Landscape:
My Key Takeaway Points
+ Key Takeaway #1 - Some facts and figures
The Recruitment market is back and hotter than ever:
2021
4% growth
2022
7.3% growth
(faster than anything since records began)
Unemployment certainly looks set to increase:
2021
5%
2022
6.5%
That being said confidence is high among the 200 companies surveyed every month by the REC:
Reporting + 20 score which is the highest it has been for 13 months
REC/EMSI Tracker live jobs in UK through recruiters
March 2020
180,000
(pre-Covid)
May 2020
70,000
Oct 2020
140,000
Jan 2021
60,000
March 2021
180,000
Total of 1.3m active jobs advertised.
+ Key Takeaway #2 - Job fluidity will return quicker ... think Backfills
With the resurgence of growth, new businesses and new jobs are created, and as people take up these new roles job fluidity will increase.
IE. People will move and their existing role will be backfilled too.
+ Key Takeaway #3 - Challenges for the UK market
There are definite shortages across three key areas:
- Skills
- Labour
- Talent
SKILLS
Candidate shortages in areas such as data science, digital, software, professional services, care and the NHS
LABOUR
Over the last 10 years we’ve had 3m EU workers arrive in the UK who have taken up jobs in agriculture and hospitality. During the pandemic 800,000 of these workers travelled home. The hospitality and leisure industry now sees a definite labour shortage as this sector start to open up again in the UK.
TALENT
Employers have reported a definite Talent deficit in key roles and are currently paying more in fees to find this talent – bodes well for search.
+ Key Takeaway #4 - Conclusion - Opportunities and challenges
The market will grow by 10% – if you are nimble, active and close to both clients and candidates you can make this 20-25% at least.
What’s the plan for 2021 and beyond?
Think about what can inspire and keep the key players.
- Think strategically but make stuff happen
- Be change orientated - we are in changing times
- Be comfortable living with ambiguity
- Drive continuous improvement
- Inspire and motivate others
+ Key Takeaway #5 - A Vision Makes Businesses Buzz
This incorporates lots of autonomy and makes organisations much more responsive, given we are working in very fluid and changing times with client and candidate behaviour evolving.
This drives team’s activity, businesses don’t become hard wired, keeps teams small and nimble, and gts them working collaboratively.
An example of this at one of our members Innova Search is they have scapeed detailed KPIs. Their consultants self-manage. They measure in order of depth – deals done, interviews completed, CVs out. If there is an issue they dig deeper. It’s saved their Directors and Managers hours of time.
We have grown-ups.
If there's an issue we peel back layers but this only happened twice in 2020.
About the Author:
Simon Bliss
Chairman of TEAM
Simon took the helm at TEAM in October 2020 and is looking to build THE support network for SME Recruitment Businesses.
Connect with Simon today on Linkedin:
Want to watch the Kevin Green presentation in full?
[Already a TEAM Member? You can watch this recording in full via the TEAM Hub]
