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22 March 2017, London – Ninety percent of UK recruiters expect to meet or exceed revenue goals this year regardless of continued economic uncertainty, according to Bullhorn’s 2017 UK Recruitment Trends Report.
However, the report also reveals that one almost third (31 percent) of respondents have a lack of confidence in the industry outlook after the Brexit vote. Additionally, 28 percent anticipate negative business implications from government policies, while more than half (53 percent) expect a negative impact on their businesses if greater restrictions are placed on the movement of labour.
Despite this, the report indicates another strong year of growth for the industry. Beyond the 90 percent that expect to meet or exceed their revenue goals this year, nearly a quarter (25 percent) of recruitment companies expect to grow their revenue by more than 25 percent. Accordingly, increasing profitability was rated by respondents as the most important goal for the year (65 percent), followed by improving management of client and candidate relationships (42 percent) in second place, and driving top-line revenue growth (41 percent) in third.
Peter Linas, International Managing Director at Bullhorn, comments: “UK recruitment companies need to be commended for their positive approach to business growth and profitability. Identifying opportunities in the market is half the job; maximising their potential requires stronger, long-term relationships.”
Three-quarters of respondents also expect hiring needs to increase this year. However, only 37 percent expect growth in temporary placements, which suggests that permanent recruitment will drive most of the industry’s growth.
But while hiring needs are expected to increase, the biggest challenge expected by recruiters this year, and possibly far into the future, is a shortage of qualified talent. More than 70 percent of all respondents ranked it as the top challenge, closely followed by economic uncertainty (67 percent) and pricing pressures (58 percent).
The report also highlighted the ever-increasing use of recruitment technology to drive operational efficiency, source talent, and improve margins. For example, more than three-quarters of recruiters (78 percent) of respondents use a CRM system to track candidate activity and 68 percent use one to manage sales.
“Adopting the right technology,” adds Linas, “can help recruiters take full advantage of one of their best sources of qualified talent and keep their clients fulfilled at a time when uncertainty threatens to compromise revenue targets.”
A superior client and candidate experience is front of mind for most recruitment companies. Ninety-four percent of respondents claim they provide good or excellent service to their clients and 86 percent say they deliver a quality candidate experience. Nevertheless, only some recruiters track their client and candidate satisfaction levels, while others admit that they don’t track them at all.
“Despite ongoing talent shortages,” concludes Linas, “recruitment companies remain bullish and proactive in their approach to business growth – and very much on course to achieve their ambitious goals.”
For more information, comment or interview opportunities, please contact:
+44 (0)207 580 6502
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/uk or follow @BullhornUK on Twitter.
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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