BACK ON TRACK?
Turnover in the UK’s recruitment industry has bounced back by more than 25% to just under £25bn, according to the Recruitment Industry Trends Survey 2010/11 launched 9/11/2011 by the Recruitment & Employment Confederation.
The report, which covers April 2010 to March 2011, reveals a sharp upsurge in annual industry turnover to £24.6bn, an increase of 25.3%, compared to £19.7bn in the same period the previous year (April 2009 to March 2010).
Here are the key findings of the survey:
Turnover in temporary/contract staffing has returned to 2006/2007 levels at £22bn compared to its low point last year of £17.8bn, a rise of 24.1%.
Permanent recruitment also rallied to reach £2.5bn in the past year, a massive 37% increase on £1.8bn recorded in 2009/10.
Volumes of perms placements rose by 38.3% from 436,822 last year to 604,193 in 2010/11 while temp placements were up 19.3% and top the million mark again at 1,049,333 compared to 879,000 last year.
Vertex Solutions International has seen unprecedented growth to mirror these facts in what most companies have found an increasingly tough and unpredictable market. The reason for our success is adapting to an ever changing recruitment landscape. Clients are demanding more from their recruitment partners and the resource that they require which has seen a large number of “Agencies” fall by the wayside as they have failed to adapt to the “new cool” and continue with their “old school” recruitment methods.
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