New Bullhorn Report: 77% of Staffing and Recruiting Firms Met or Exceeded Revenue Goals in 2014
BOSTON, Mass, February 10, 2015 – Bullhorn®, the fast-growing provider of cloud-based customer relationship management (CRM) software for the staffing, recruiting, and services industries, today announced the release of its 2015 North American Staffing and Recruiting Trends Report, titled “Revving the Engine,” which found that 77 percent of staffing firms met or exceeded revenue goals in 2014. Overall, the report showed steady growth and suggests cautious optimism for the immediate future of the recruiting industry.
Compared to last year’s report, data remained consistent in areas such as overall revenue, which continued to grow at a relatively steady rate from 2013 to 2014. Revenue growth expectations also remained steady with 89 percent of respondents expressing a belief that revenue will increase in 2015, a one point improvement from the previous year.
Where metrics were not constant, they mostly improved from last year’s performance and showed signs that firms are investing in future growth. For example, the percentage of firms that experienced placement growth saw significant gains, as did the percentage of those that saw increases in fill rate and hit rate. In addition, usage of Vendor Management Systems (VMS) is a growing trend which indicates that temp and contract firms are looking to invest in technology that will improve their efficiency and help them make more placements, faster.
Bullhorn’s fifth annual North American Staffing and Recruiting Trends report is the result of a survey conducted among 1,285 agency recruiting professionals in December 2014. The report comprises performance benchmarks, metrics, and revenue and compensation figures broken down by firm size, recruitment type, industry, role recruited, and role of respondent. Recruiting professionals use this report to compare themselves and their firms to their peers in the recruiting industry. Download the full report for free here.
· Plans to hire remain healthy, with 74 percent of respondents’ firms planning to increase headcount in the coming year. However, those plans are markedly different by agency size, with 65 percent of small firms planning an increase as opposed to 86 percent of firms with 11 employees or more.
· Repeat clients continue to deliver. 79 percent of respondents said that more than half of their revenue comes from repeat client business, a 7 percent increase from last year’s study, a solid sign of consistency and success in the industry.
· Total placements are up. Among respondents surveyed, 77 percent said that their total placements grew, a significant improvement from 71 percent last year.
· Permanent jobs are filling faster. On average, it took staffing firms specializing in permanent jobs 23 days to fill a position, a significant drop from 32 days in 2013. Industries such as energy and healthcare contributed to this improvement, with permanent jobs in these fields taking an average of 23 days and 21 days to fill, respectively, an improvement from 36 and 39 days last year.
· Skilled IT/technical workers are in short supply. Out of all industries studied, IT/technical jobs received the fewest applications, with only 19 per job posting. Sales jobs received the most applications (an average of 33 per posting).
Link for more information:
· Download the full report for free: https://www.bullhorn.com/resources/2015-north-american-staffing-recruiting-trends/?LS=Public_Relations&LSD=NA_TrendsReport_2015
Bullhorn creates cloud-based customer relationship management (CRM) software solutions that help businesses grow faster and run more efficiently. As the global market leader in staffing and recruiting software, our innovations power the operations of fast-growing start-ups up through the world’s largest staffing brands. Headquartered in Boston, with offices in St. Louis, Richmond, Vancouver, London, and Sydney, Bullhorn provides a full suite of recruitment software including an applicant tracking system, CRM system, back office solution, VMS integration, and social recruiting product. The company has more than 10,000 clients representing nearly 350,000 users across 150 countries.
Senior Marketing Manager, Bullhorn
fama PR for Bullhorn