{"id":79065,"date":"2024-03-13T09:00:16","date_gmt":"2024-03-13T09:00:16","guid":{"rendered":"https:\/\/www.bullhorn.com\/uk\/?p=79065"},"modified":"2024-03-12T21:19:18","modified_gmt":"2024-03-12T21:19:18","slug":"top-recruitment-trends-for-2024","status":"publish","type":"post","link":"https:\/\/www.bullhorn.com\/uk\/blog\/top-recruitment-trends-for-2024\/","title":{"rendered":"Top recruitment trends for 2024"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">Every year, Bullhorn surveys global recruitment professionals to find out their top priorities, challenges, and predictions for the year ahead and publishes the results in the annual <\/span><a href=\"https:\/\/www.bullhorn.com\/uk\/grid\/2024-industry-trends-report\/\"><span style=\"font-weight: 400;\">GRID Industry Trends Report<\/span><\/a><span style=\"font-weight: 400;\">.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The following are some of the key findings, along with recommendations for how to act on these insights. Listen to the <\/span><a href=\"https:\/\/www.bullhorn.com\/uk\/events\/top-recruitment-trends-2024\/\"><span style=\"font-weight: 400;\">Top Recruitment Trends 2024 webinar<\/span><\/a><span style=\"font-weight: 400;\"> for the full discussion.<\/span><\/p>\n<h3><b>Most agencies express cautious optimism about 2024<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">2023 was a difficult year, with a little less than half of recruitment agencies reporting revenue growth \u2014 down from 68% in 2022. In spite of that, nearly two-thirds of agencies predict they will see revenue growth in 2024. More than one-third expect growth of more than 10%.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Heading into 2024, most list gaining new customers and increasing placement volumes as their key priorities. Macroeconomic uncertainty, hiring freezes, and the ongoing talent shortage top the list of challenges agencies face \u2014 followed closely by a rising concern about competition from gig and freelance platforms.<\/span><\/p>\n<h3><b>In a tight revenue year, successful agencies relied on technology to drive productivity and efficiency<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">65% of agencies that saw revenue growth in 2023 placed candidates in less than 20 days\u2014and this was largely true across regions and verticals. These agencies achieved this level of efficiency in part by automating key tasks like candidate screening and candidate intake.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In fact, top-performing agencies were 2.4 times as likely to have automated gathering client requirements. Overall, agencies that saw the most revenue growth were around 30% more likely to have automated top-of-funnel activities to drive candidates through the process faster and ultimately drive more placements.<\/span><\/p>\n<h4><strong><i>Putting it into practice<\/i><\/strong><\/h4>\n<p><span style=\"font-weight: 400;\">Optimising your talent funnel begins with capturing reliable data and making it readily accessible across the organisation. 50% of agencies say they don\u2019t trust the validity of their data for making decisions. To realise the productivity and efficiency benefits of automation, agencies need to capture reliable, standardised data from the beginning and centralise that data.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Once that foundation is laid, agencies can really <\/span><a href=\"https:\/\/www.bullhorn.com\/uk\/products\/recruitment-automation\/\"><span style=\"font-weight: 400;\">unleash automation<\/span><\/a><span style=\"font-weight: 400;\"> to drive productivity. Real-time data and analytics can be available on a self-service basis to track productivity and unlock efficiencies. And <\/span><a href=\"https:\/\/www.bullhorn.com\/uk\/products\/copilot\/\"><span style=\"font-weight: 400;\">AI can be applied<\/span><\/a><span style=\"font-weight: 400;\"> to handle low-value, repetitive tasks, streamlining workflows. This adjustment can give recruiters back time while simultaneously reducing the possibility of human error.<\/span><\/p>\n<h3><b>Successful agencies are addressing the talent shortage head-on<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">43% of agencies cite the ongoing talent shortage as a top challenge for their business. However, the most successful agencies are investing in technology to improve the candidate experience through tailored engagement and outreach, better search and match, and faster conversion rates. They are 50% more likely to say they can rely on their databases and are using analytics to better understand job classifications and talent pools.\u00a0<\/span><\/p>\n<h4><strong><i>Putting it into practice<\/i><\/strong><\/h4>\n<p><span style=\"font-weight: 400;\">Identifying and plugging gaps in candidate data makes it possible for recruiters to take advantage of automated sourcing tools that will improve job matching and speed up the placement process. This \u201cdatabase-first mindset\u201d enables your team to easily and quickly search across all candidate sources or <\/span><a href=\"https:\/\/www.bullhorn.com\/products\/copilot\/\"><span style=\"font-weight: 400;\">take advantage of AI<\/span><\/a><span style=\"font-weight: 400;\"> to handle the initial search for candidates without fearing missed opportunities. Right now, 70% of placements are typically made with candidates sourced outside of the agency&#8217;s database \u2014 and 66% of those externally-sourced candidates already existed within the database, creating a completely unnecessary delay and duplication of effort.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Additionally, agencies should focus on mapping out a communication strategy to optimise candidate engagement. Automation can <\/span><a href=\"https:\/\/www.bullhorn.com\/uk\/products\/recruitment-automation\/\"><span style=\"font-weight: 400;\">track and prompt candidate communication<\/span><\/a><span style=\"font-weight: 400;\"> to ensure there is consistent communication, as well as tailoring communication channels according to candidate preferences. Agencies that don\u2019t automate typically only engage with about 10% of the candidates in their database, leaving a huge missed opportunity. And Bullhorn\u2019s <\/span><a href=\"https:\/\/www.bullhorn.com\/uk\/grid\/grid-2023-talent-trends\/\"><span style=\"font-weight: 400;\">GRID 2023 Talent Report<\/span><\/a><span style=\"font-weight: 400;\"> found that frequent communication is a significant driver of candidate loyalty.<\/span><\/p>\n<h3><b>Some agencies had success at winning new business in 2023 in spite of the economy\u00a0<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">Some agencies were able to continue attracting net new clients even as the staffing industry slowed down considerably in 2023. What did they do differently?\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In keeping with the focus on productivity and efficiency, these agencies were able to spend less time supporting current clients and more time acquiring and nurturing new ones \u2014 70% of these agencies said their recruiters spend less than 50% of their time working with existing clients. This isn\u2019t because they are neglecting them, it is because they have automated their workflows to allow them to provide excellent service and value with less human effort. The agencies that were the most successful at winning new business were three times as likely to offer self-service tools to clients and candidates. And they were 44% more likely to have automated new lead engagement, helping recruiters focus their efforts on the best, most viable leads.<\/span><\/p>\n<h4><strong><i>Putting it into practice<\/i><\/strong><\/h4>\n<p><span style=\"font-weight: 400;\">Centralising and cleaning up the database makes it easier to serve up data and insights that help recruiting and sales see how to make an impact fast. They can see who can be redeployed, which jobs have no activity, and which leads have no calls. <\/span><a href=\"https:\/\/www.bullhorn.com\/uk\/products\/recruitment-automation\/\"><span style=\"font-weight: 400;\">Automation<\/span><\/a><span style=\"font-weight: 400;\"> can search for job leads in the background, only notifying team members when it is the best time to take action, improving sales percentages and limiting wasted effort.<\/span><\/p>\n<h3><b>AI adoption and investment was linked to revenue growth<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">This year\u2019s GRID Industry Trends Report showed a strong correlation between those agencies that are investing in <\/span><a href=\"https:\/\/www.bullhorn.com\/uk\/products\/copilot\/\"><span style=\"font-weight: 400;\">AI tools<\/span><\/a><span style=\"font-weight: 400;\"> and those that saw revenue growth in 2023. They were significantly more likely to be experimenting with AI for tasks like shift scheduling, onboarding, and gathering client requirements. <\/span><a href=\"https:\/\/www.bullhorn.com\/blog\/7-ways-ai-will-revolutionize-recruiting\/\"><span style=\"font-weight: 400;\">Interviews with Bullhorn customers<\/span><\/a><span style=\"font-weight: 400;\"> made it clear that the best way to enable recruiters to take advantage of AI tools is to have them embedded directly in the ATS.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The data and automation strategies discussed here are all crucial to laying the foundation for a successful AI strategy.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<a href=\"https:\/\/www.bullhorn.com\/uk\/grid\/2024-industry-trends-report\/\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-79069\" src=\"https:\/\/www.bullhorn.com\/uk\/wp-content\/uploads\/sites\/2\/2024\/03\/GRID_Industry_Report24_Blog-Ad-Footer_V1APAC-1.png\" alt=\"\" width=\"1200\" height=\"200\" srcset=\"https:\/\/www.bullhorn.com\/uk\/wp-content\/uploads\/sites\/2\/2024\/03\/GRID_Industry_Report24_Blog-Ad-Footer_V1APAC-1.png 1200w, https:\/\/www.bullhorn.com\/uk\/wp-content\/uploads\/sites\/2\/2024\/03\/GRID_Industry_Report24_Blog-Ad-Footer_V1APAC-1-768x128.png 768w, https:\/\/www.bullhorn.com\/uk\/wp-content\/uploads\/sites\/2\/2024\/03\/GRID_Industry_Report24_Blog-Ad-Footer_V1APAC-1-300x50.png 300w\" sizes=\"auto, (max-width: 1200px) 100vw, 1200px\" \/><\/a>\n","protected":false},"excerpt":{"rendered":"<p>Every year, Bullhorn surveys global recruitment professionals to find out their top priorities, challenges, and predictions for the year ahead and publishes the results in the annual GRID Industry Trends Report. The following are some of the key findings, along with recommendations for how to act on these insights. Listen to the Top Recruitment Trends [&hellip;]<\/p>\n","protected":false},"author":519,"featured_media":79071,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"footnotes":""},"categories":[584],"tags":[],"class_list":["post-79065","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-industry-trends-and-insights"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Top recruitment trends for 2024 - Bullhorn UK<\/title>\n<meta name=\"description\" content=\"Every year, Bullhorn surveys global recruitment professionals and publishes the results in the annual GRID Industry Trends Report.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.bullhorn.com\/uk\/blog\/top-recruitment-trends-for-2024\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Top recruitment trends for 2024 - Bullhorn UK\" \/>\n<meta property=\"og:description\" content=\"Every year, Bullhorn surveys global recruitment professionals and publishes the results in the annual GRID Industry Trends Report.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.bullhorn.com\/uk\/blog\/top-recruitment-trends-for-2024\/\" \/>\n<meta property=\"og:site_name\" content=\"Bullhorn UK\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Bullhorn\/\" \/>\n<meta property=\"article:published_time\" content=\"2024-03-13T09:00:16+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.bullhorn.com\/uk\/wp-content\/uploads\/sites\/2\/2024\/03\/Updated-Recruitment-Blogs-UK_APAC-Megs-copy-15.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1360\" \/>\n\t<meta property=\"og:image:height\" content=\"710\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Lia Taniguchi\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Lia Taniguchi\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"5 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.bullhorn.com\/uk\/blog\/top-recruitment-trends-for-2024\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.bullhorn.com\/uk\/blog\/top-recruitment-trends-for-2024\/\"},\"author\":{\"name\":\"Lia Taniguchi\",\"@id\":\"https:\/\/www.bullhorn.com\/uk\/#\/schema\/person\/2747639f192c0e564270a92da0851698\"},\"headline\":\"Top recruitment trends for 2024\",\"datePublished\":\"2024-03-13T09:00:16+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.bullhorn.com\/uk\/blog\/top-recruitment-trends-for-2024\/\"},\"wordCount\":960,\"publisher\":{\"@id\":\"https:\/\/www.bullhorn.com\/uk\/#organization\"},\"image\":{\"@id\":\"https:\/\/www.bullhorn.com\/uk\/blog\/top-recruitment-trends-for-2024\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.bullhorn.com\/uk\/wp-content\/uploads\/sites\/2\/2024\/03\/Updated-Recruitment-Blogs-UK_APAC-Megs-copy-15.jpg\",\"articleSection\":[\"Industry Trends &amp; 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Insights<\/span>\n\t\t\t\t\t<h5 class=\"card-resource__title\">Top recruitment trends for 2024<\/h5>\n\t\t\t<\/div>\n<\/a>\n","_links":{"self":[{"href":"https:\/\/www.bullhorn.com\/uk\/wp-json\/wp\/v2\/posts\/79065","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bullhorn.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bullhorn.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bullhorn.com\/uk\/wp-json\/wp\/v2\/users\/519"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bullhorn.com\/uk\/wp-json\/wp\/v2\/comments?post=79065"}],"version-history":[{"count":2,"href":"https:\/\/www.bullhorn.com\/uk\/wp-json\/wp\/v2\/posts\/79065\/revisions"}],"predecessor-version":[{"id":79072,"href":"https:\/\/www.bullhorn.com\/uk\/wp-json\/wp\/v2\/posts\/79065\/revisions\/79072"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.bullhorn.com\/uk\/wp-json\/wp\/v2\/media\/79071"}],"wp:attachment":[{"href":"https:\/\/www.bullhorn.com\/uk\/wp-json\/wp\/v2\/media?parent=79065"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bullhorn.com\/uk\/wp-json\/wp\/v2\/categories?post=79065"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bullhorn.com\/uk\/wp-json\/wp\/v2\/tags?post=79065"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}