How many recruitment agencies are registered in the uk

With the fallout impacting all industries, the knock-on effect was felt by recruitment but not as acutely as first forecasted. As the grip of the finance crisis tightened, high unemployment led to an influx of CVs on the market.

At a time when identifying individuals with the right skills was critical, many businesses found it difficult to recruit the skills they needed. Recruiters with focused networks and a deep understanding of client requirements were able to pinpoint the right hires without delay. Overall, the recruitment industries unique position enabled it to weather the storm and increase value as the job market remained depressed into Public distrust in the corporate machine and rapid digitalisation provided fertile ground for new tech industries.

A new generation of media savvy individuals were entering the job market , shunning the conventional In the UK, the unemployment rate increased from 5. In , the number and proportion of people in work remains close to record levels despite some predictions that unemployment would rise following the Brexit vote.

According to Paul MacKenzie-Cummins, the Managing Director of ClearlyPR who conducted the research, the growth in the number of recruitment agencies has been gathering momentum over the past few years. Speaking to insider. Our research has shown that the momentum not only continued into , it gathered pace. Growth in the recruitment industry is a double-edged sword.

Growth can be seen as a positive sign, an indicator of confidence and growth in the economy and a rising demand for recruiting services. It can be an opportunity for you to consolidate your business and potentially grow it in a significant and sustainable way.

However, there are downsides. With more and more agencies being created, it creates more competition and could lead to the market becoming saturated, with agency numbers outstripping the growth in underlying demand. Compared to many other industries, recruitment is not regulated and anyone can call themselves a recruiter and can be up and running with a computer, phone and access to the internet.

According to an article in Recruitment International , in the UK, 8 out of 10 companies fail in the first year, leaving behind a trail of disappointed clients and candidates, many of whom will have a negative view of the industry. Why You Should Never Miss the Opportunity to Grow Despite the downsides of the growth in the number of recruitment agencies, the underlying causes can be used as a catalyst for the growth of your recruitment firm.

The fact that there is confidence in the economy and an increasing demand for recruitment services cannot be passed-up. None of us can predict the future and we may not see such a fertile opportunity for growth for some time. We live in an increasingly uncertain world, and if economic conditions worsen, you may regret not taking the opportunity to grow your business when you had the chance.

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