A record number of new recruitment agencies were registered in 2018, increasing the total number of recruitment companies in the UK to its highest ever. 8,488 new recruitment agencies registered last year, more than doubling the growth of the industry from the previous year. Over the last ten years, the industry grew on average by 27% per year. Almost three quarters of the recruitment companies in the UK began since 2010.
There are nearly 40,000 recruitment companies in the UK, employing around 115,000 people. The UK recruitment industry is now worth £35.7 billion.
Why UK Recruitment Is Booming:
People Can Change Jobs Faster Than Ever
New technology allows us to find new jobs faster than ever. Linkedin, job sites, and specialised industry apps allow job seekers to see more opportunities that are out there.
Millennials change jobs faster than other generations: on average they stay at a job for a maximum of three years before moving on. Recruiters take on the role of career advisor, helping people transition into new roles and careers when the time is right for them.
Recruiters can now forge professional relationship with candidates, working with them over a long period of time, helping them develop their own networks and cultivating new opportunities.
New Technology Helps Recruitment Companies Innovate
AI and data analytics have helped recruitment companies become more efficient than ever before. Used in tandem, these technologies give recruiters more control over their time, greater insight into their candidates, and more of a chance to get them into a new role.
AI can help segment candidates into different categories, and can help screen them to see if they’re qualified for the role. Analytics systems can help recruiters see their whole process, how much time each step takes, and where things can be improved.
This means the actual service they deliver is done faster, better, and more consistently than in the past.
Social Media and Smartphones Allow for Constant Communications
84% of businesses now use social media for recruiting, and 90% of job seekers use their mobile to look for a new job.
Thanks to Linkedin, recruiters are now able to search for candidates in any field, and tell them about potential opportunities they might be interested in.
Recruitment companies have realised the power of social media, and have focused their efforts on building their professional networks to expand their reach. This allows them to access a more diverse range of candidates, and can get in touch with them at times that suit them best. Recruitment companies have used social media to gain brand awareness for almost no cost.
Niche Recruitment Agencies have A Deeper Understanding Of Their Markets
Many recruitment companies work in a specific niche, hiring experts in that sector to ensure they deliver the very best possible service.
By working in a niche, they get to know that market better than any other, and can engage with candidates using the technical language they’re used to.
If you’re interested in joining VHR to work in recruitment, get in touch with us today to start your recruitment career.