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Recruiting firms report healthy hiring plans for 2014, according to Bullhorn’s annual North American Staffing and Recruiting Trends Report, “A Numbers Game,” released today. Seventy-five percent plan to grow headcount, slightly less aggressive than last year when 82 percent planned to add staff. Two percent of respondents said their firms plan to reduce headcount this year.
Overall revenue, as well as total number of placements, increased over the past year, according to the report. However, the report found signs of a slowdown for 2014 as 77 percent of staffing firms met or exceeded their goals for 2013, down from 73 percent in 2012. And 88 percent of respondents think their firm’s revenue performance will increase in 2014, down from 92 percent in 2013 and 96 percent in 2012.
Other findings include:
- Growth in investment is slowing: only 23 percent of respondents' firms plan to launch new offices in 2014, compared to 48 percent last year.
- Salespeople and account managers made considerably more money than recruiters in 2013.
- For the third year in a row, total number of placements was the most important metric for recruiting agencies.
- 72 percent of respondents generate 50 percent or more of their revenue from repeat client business.
- 22 percent of respondents reported that 50 percent or more of their revenue comes from their largest client.
- The average time-to-fill in 2013 was six days for temp, eight days for contract and 32 days for perm.
- 71 percent of respondents admit to having a shortage of skilled candidates in their respective sectors for 2014 versus 76 percent for 2013.
- The most successful source of qualified candidates for 2013 was existing candidates from respondents’ applicant tracking systems, followed by referrals and social media.
- For the second year in a row, survey respondents identified a lack of skilled candidates as their greatest challenge and social media as their greatest opportunity.
Bullhorn Inc. is a Boston-based staffing software provider. The report is based on a survey of more than 1,300 recruiting agency professionals.