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04 February 2019, LONDON – The majority (59 per cent) of UK recruiters say there is an “opportunity divide” between affluent talent and less privileged talent, according to a survey of more than 2,000 global recruitment professionals by Bullhorn, the cloud computing company that helps staffing and recruiting organisations transform their businesses.
This “opportunity divide” further compounds a chronic challenge for recruiters – the lack of available talent. More than three quarters (78 per cent) of respondents claimed that dealing with shallow talent pools and skills shortages and gaps will be a top hiring challenge this year. In fact, 57 per cent of respondents agreed that skills shortages in certain sectors in the UK are worse in 2019 than they were five years ago.
The generational divide is a significant stumbling block for recruiters: 45 per cent said that Millennials (those between 22-37 years old) are the hardest group to reach. Comparatively, only 15 per cent said the same of Baby Boomers (54-72 years old).
Addressing talent shortages
The survey highlighted other possible solutions for skills gaps. Seventy-seven per cent of recruiters agreed that their clients must accelerate salary increases if they are to compete for the best candidates. However, 34 per cent also said that encouraging employers to do this will be another top challenge for this year, largely owing to uncertain economic conditions.
Reskilling the workforce – and understanding the role recruiters should play in this process – was the third most commonly cited hiring challenge for 2019. A quarter (25 percent) said that reskilling workers due to the changing nature of jobs will be a daunting prospect. Despite this challenge, 77 per cent agreed that reskilling workers will be an effective way to address the problem of shallow talent pools.
The research also found that a majority (60 per cent) of recruiters believe organisations with a strong degree of diversity are more productive.
Peter Linas, Bullhorn’s Executive Vice President of Corporate Development and International, commented: “Economic, political, and generational considerations are aggravating talent gaps, and recruiters must look beyond conventional solutions. While there is a clear ‘opportunity divide’ in the jobs market, adopting diverse hiring practices isn’t just the right thing to do: it’s good business.”
Despite hiring challenges, more than a quarter of UK recruiters expect a revenue increase of 25 per cent or more this year, 61 per cent expect their number of temporary placements to increase, and 58 per cent anticipate increasing their investment in technology. When asked specifically about a firm’s primary growth strategy over the next three to five years, only 9 per cent of respondents expected to grow via mergers and acquisitions. The majority (80 per cent) of respondents expected to grow their businesses organically, expanding business from new and existing clients.
When asked for their three most urgent operational challenges for the year ahead, recruiters cited:
Some 86 per cent of recruiters agreed that staffing and recruitment firms must embrace digital transformation — defined as the integration of technology into all areas of their business for the purposes of improving operations and the way they deliver value to customers — in order to remain competitive.
“Technology will play a critical role in encouraging more diverse hiring practices,” said Linas. “Intelligent CRM and ATS technology can help recruiters spot candidates who might not be the most obvious choices, but do in fact have the right experience and skills to succeed.”
Political and economic challenges
Bullhorn’s research found that macroeconomic and political issues are expected to apply more pressure to the industry in 2019. The three most commonly cited were:
“The common thread for all of these challenges is the potential impact of Brexit,” commented Linas. “Uncertainty is still the name of the game, but it’s encouraging that the industry still anticipates growth, still expects to make more placements, and is proactive in adopting new technologies. The UK recruitment industry has always been robust, resilient, and ready for anything; the question now is whether it needs to prepare for a spot of bad weather or an oncoming storm.”
To read more about Bullhorn’s Global Recruitment Insights and Data research, visit https://grid.bullhorn.com/uk/.
Bullhorn is the global leader in CRM and operations software for the recruitment industry. More than 8,000 staffing companies worldwide rely on Bullhorn’s cloud-based platform to drive sales, build relationships, and power their recruitment processes from end to end. Headquartered in Boston, with offices around the world, Bullhorn is founder-led and employs more than 900 people globally. To learn more, visit www.bullhorn.com/uk or follow @BullhornUK on Twitter.
0207 580 6502
SVP, Global Support & Training
As Senior Vice President, Global Support and Training, J.R. leads our global Support and Training for all Bullhorn product lines. J.R. directs both the company’s customer service and training efforts around the world engaging customers throughout all points in the customer journey, both proactively and reactively, delivering incredible customer experiences via transactional interactions and client engagements. He brings a broad range of customer service leadership skills and experience to the company spanning performance management, project management, employee and leadership development, organizational design, and strategy which all align to focus on driving an incredible customer experience. Prior to joining Bullhorn, J.R. led call center optimization efforts for AT&T Mobility, directing the call center strategy for more than 100 contact centers. J.R. has spent 20 years working in the contact center space and has held a number of key leadership roles prior to joining Bullhorn.
SVP of Product and Salesforce
Jonathan Novich is SVP of Product and Salesforce for Bullhorn, the global leader in CRM and operations software for the recruitment industry. A staffing technology innovator, he has developed broad and deep product and technical experience consulting to staffing firms over the past 15 years. Jonathan has acted as an independent consultant for some of the largest staffing companies in the world and advised companies on acquisition targets.
At Bullhorn, he oversees product initiatives as more than 10,000 staffing companies rely on Bullhorn’s cloud-based platform to drive sales, build relationships, and power their recruitment processes from end to end. He graduated with honors from Princeton University, earning a Bachelor of Science in Engineering in Computer Science and a certificate in Operations Research.
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