As a recruiter, you have targets. You want to be as successful as possible - but for that you need money. How easy or difficult is it to gain access to that money? That's the question The Institute of Recruiters and Simplicity aim to answer with their new comprehensive survey.
It’s the second time the two businesses have joined forces and this new survey will expand on the findings of their 2012 study which found that 71% of respondents said that access to more funding would enable them to grow their recruitment business. This year, they aim to assess the state of the industry with regards to spending, borrowing and expansion plans for the future.
The survey comes at a time when the economy is completing a U-turn, showing the most promising signs of recovery since the financial crisis struck 6 years ago. British economic growth is expected to be twice that of the Euro-zone average this year, meaning that many more job vacancies will be created in Britain than most other EU countries.
Due to the poor economy in recent years, businesses have either been maintaining the same levels of employees or taking on less permanent and temporary staff. With unemployment now plummeting to 7.1% - the biggest ever quarterly increase in the number of people in work in the UK, competition between recruitment businesses is set to increase.
With unemployment levels down, the General Director of the IOR, Azmat Mohammed believes that there is a definite need for recruitment agencies to grow and expand. “There are plenty of job seekers and there are always new ways to engage new opportunities” he said, “Companies are always looking for new talent and those already in work will continue to look for new possibilities.”
There may still be a demand but Azmat acknowledges one major factor that could spell out problems for those recruitment businesses looking to grow. “You will need a solid cash flow and you need to be sure that you are securely funded from a source you can trust”, he says.
Simplicity offers funding and back office solutions for recruitment businesses - whether you are looking to start up a brand new company or breathe new life into an existing one, they are the go-to people when it comes to change and development within the recruitment sector. Their combined 40 years of experience means they are well placed to partner with the IOR, who along with the survey are launching a new social network in 2014, which will put recruiters back in control of the industry. It will re-enforce the need for recruiters and will ensure that recruitment’s future is strengthened.
The partnership between Simplicity and the IOR truly is a meeting of minds and they aim to use their vast amount of knowledge and industry insight to consult recruitment businesses and help them access the funding they need for growth. To make your opinion heard, take 5 minutes to complete the survey - they will be sharing the results in coming months so that we can all see a little more clearly what exactly is going on in this ever-changing industry.
