The prediction for 2014 looks good for the recruitment industry.
Whilst the economy is forecast to grow above 2% this year the recruitment sector has forecast a growth above 7% in the first quarter this year and above 8% rest of the year *
The key challenge for businesses in 2014 is to adapt to the changes in the working environment whilst managing costs. Companies still battle to source and attract the best skilled talent, at the lowest cost possible. In addition to this the pool of available candidates with the right skills is much smaller. Many companies are seeking to recruit applicants with new niche digital and mobile skills. In addition to this candidates are favouring the stability of staying within their current workplace as opposed to the potential risk of a new job.
Business confidence has definitely increased. Here are some of the the key trends we have seen that we are expecting to continue into 2014.
1. In January this year, our consultants have experienced a 20% increase in briefs given for permanent roles. We believe this optimism will definitely continue throughout the first half of this year.
2. The market is still candidate driven, especially for job seekers with between 2 and 5 years’ relevant work experience. In response to the increase in demand for key skills, our clients have had to adapt their recruitment methods as they realised that their processes sometimes hindered the opportunity to attract top talent. They are much more flexible in the way they hire as they try to meet the demands of their business. For example companies are now more receptive to recruiting talent with fixed term visas on contract. They are reducing the turnaround time of the entire recruitment process by reviewing and removing unnecessary delays and realising that their competitors are much quicker to recruit. They are also more open to considering a wider range of backgrounds for jobs they want to fill.
3. Whilst some of our clients have established in house recruitment teams to help them manage their recruitment processes, they still rely heavily on their external suppliers. Their recruitment suppliers allow them to tap into a pool of candidates to which they would not usually have access.
4.In 2013 we saw a notable increase in demand for candidates with 2- 5 years’ work experience across all roles. 43% of briefs taken, fell within the £25,000 – £30,000 salary band and 34% within the £30,000-£45000 bracket.
5. Towards the latter end of 2013 we saw an increase in demand for graduates and more junior level candidates with up to 1 years’ experience, although our clients still expected them to have previous work experience either within a work placement or internship whilst at school or studying.
6. Many of our larger clients expanded their overseas offices in 2013 as their clients asked for international expertise and their business confidence in general grew.
7. The creative and media sectors were leaders in hiring last year. We witnessed a dramatic increase (18%) in the number of business development roles for our marketing sectors.
8. There was a 20% increase in demand for senior management across the marketing and media sectors in addition to a 9% increase in the number of in- house roles as our clients sought to develop large internal teams of specialists.
9. Digital and mobile communications are an integral part of everyday work activity.
10. Big data, international projects, social research (in light of the pending 2015 elections), and media analysis and audience measurement are going to be big themes in 2014.
11. Salary levels in 2013 remained much the same however. Our prediction for 2014 is that there will be a minimal rise with the latter part of 2014 starting to see some notable increases.
12. Emphasis for candidate attraction will, however, be focussed on career development, training and staff benefits.
All in all we expect this year to be a solid year for growth in all our client sectors and look forward to working on some fantastic recruitment projects throughout the year