Small but focused recruiters are more likely to have success in the long term as new technologies and social media will hinder the presence of some worldwide firms.
That’s the conclusion drawn up by the Recruitment and Employment Confederation (REC), cited by hrmagazine.co.uk, which suggests niche players will shape the market in years to come.
Other figures from the survey suggest the recruitment industry will be on the rise, with the sector predicted to peak at £27 billion by the end of 2013/14. In addition, the industry managed to grow this financial year by 4.3 per cent to £25.7 billion, reports recruiter.co.uk.
Consequently, healthy growth is expected in many areas of recruitment. London, Birmingham, Manchester and other recruitment hubs could potentially prosper regionally from such growth, too.
REC chief executive Kevin Green commented on the growth: “The recruitment industry won’t be able to piggyback on strong economic growth in the wider economy as it has done in the past and running a successful agency is only going to get harder and demand more of recruiters.
“The ones who survive and thrive will be those who stay ahead of these trends and become expert providers of talent within their particular niche sectors. The future is all about being an inch wide and a mile deep in terms of focus and knowledge,” he added.