Eighty-Five Percent of Australian Recruitment Professionals Expect Revenue Growth in 2017
22 March 2017, Sydney – Eighty-five percent of industry professionals expect revenue growth over the course of 2017, and 21 percent expect revenue growth of more than 25 percent, according to Bullhorn’s 2017 Australian Recruitment Trends Report. Based on a survey of 230 Australian recruiters, the report indicates strong optimism and growth in the country’s recruitment industry.
Fifty-six percent of respondents said that driving profitability is their top priority for the year. The second and third most widely-cited priorities were driving top-line revenue growth (38 percent), and managing client and candidate relationships (also 38 percent). Sixty-three percent of recruiters also anticipate a corresponding increase in their clients’ hiring needs
Simon Greening, APAC Regional Director at Bullhorn, comments: “There’s so much proactivity in Australian recruitment, and I think it’s responsible for much of the industry’s success. Companies who work in this market are determined, hardworking, and committed to sustainable growth and profitability.”
Also highlighted by the report are the many challenges Australian recruiters face. The most pressing consideration, according to 68 percent of those interviewed, is pricing pressure and margin compression. The second most critical challenge is a shortage of talent (66 percent), followed by economic uncertainty (53 percent) in third.
Bullhorn’s report also indicates that recruiters are taking steps to improve their relationships with clients and candidates, with levels of technology adoption continuing to grow. Significantly, more than three-quarters (78 percent) of those interviewed now use a CRM or an ATS to track candidate activity.
Some 93 percent also said they provide good service to clients and 82 percent said the same of candidates – though many of those interviewed either do not track client and candidate satisfaction, or do so inconsistently.
“Australia’s recruitment community has benefited greatly from its willingness to embrace technology and CRM”, adds Greening. “The positive approach to innovation and problem solving has served it well so far, and it will serve it well in the future. There’s every reason to believe the optimism and drive of these recruiters will be rewarded in 2017 and beyond.”
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Bullhorn is the global leader in CRM and operations software for the recruitment industry. More than 7,000 firms rely on Bullhorn’s cloud-based platform to drive sales, build relationships, and power their recruitment processes from end to end. Headquartered in the United States, with offices around the world, Bullhorn employs more than 600 people globally. The company is founder-led and backed by Vista Equity Partners. To learn more, visit www.bullhorn.com/au or follow @BullhornAPAC on Twitter.