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The majority (80%) of recruitment agencies met or exceeded their 2013 revenue goals and 95% expect an increase in agency revenue in 2014, according to a recent study from recruitment software provider Bullhorn.
The Bullhorn 2014 UK Recruitment Trends Report, based on data from 195 recruitment agency professionals, also revealed that 83% of recruiters expect a salary increase in 2014, indicating a healthy industry.
Peter Linas, International Managing Director for Bullhorn, commented: “We dug even deeper than usual in this year’s report and secured more information about revenue and remuneration than ever before. The results this year set the benchmark for recruiter salaries and also reveal a startling chasm in revenue per producer between small recruitment businesses and large agencies.”
The key findings of Bullhorn’s report are:
- Economic recovery, social media usage, and a richer candidate talent pool all contributed to better performance in 2013. Fill rates increased for 52% of candidates, with 43% of respondents citing the economic recovery as the cause of the improvement, and 30% citing social media.
- Agency revenue performance continues to increase with 80% of agencies meeting or exceeding their revenue goals in 2013, compared with 75% in 2012.
- Remuneration increased with 60% of recruiters reporting increased in remuneration in 2013, which is lower than the 79% that expected salary increases last year.
- The skills shortage is still a top concern with 79% of recruiters citing a shortage of quality candidates as their greatest challenge.
- All eyes are on the tech industry: 29% of recruiters identified technology as the hottest recruitment trend, with fewer than expected respondents voting for energy and chemical as the top industry.
The vast majority (90%) of respondents, who provided information about their performance, remuneration and agency revenue anonymously, stated that competition increased in 2013. They listed the ‘total number of placements’ as the most important metric for measuring performance for the third year in a row.
To read the full report, please click here.