Eighty per cent of recruitment agencies met or exceeded their 2013 revenue goals and 95 per cent expect an increase in agency revenue in 2014, reveals Bullhorn, the leading provider of recruitment software, in its annual industry report.
The Bullhorn 2014 UK Recruitment Trends Report, based on data from 195 recruitment agency professionals, also reveals that 83 per cent of recruiters expect a salary increase in 2014, indicating a healthy industry.
Peter Linas, Bullhorn international managing director, comments: “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.”
Key findings:
- Economic recovery, social media usage and a richer candidate talent pool were attributed to better performance in 2013: Fill rate increased for 52 per cent of candidates, 43 per cent of respondents citing the economic recovery and 30 per cent citing social media.
- Agency revenue performance continues to increase: 80 per cent of agencies met or exceeded their revenue goals in 2013, compared with 75 per cent in 2012.
- Remuneration increased: 60 per cent of recruiters saw an increase in remuneration in 2013, which is lower than the 79 per cent that expected salary increases last year.
- The skills shortage is still a top concern: 79 per cent of recruiters cited a shortage of quality candidates as their greatest challenge.
- All eyes are on the tech industry: 29 per cent of recruiters identified technology as the hottest for recruitment, with fewer than expected respondents voting for energy and chemical as the top industry.
- Large agencies dwarf smaller competitors in revenue per producer: For the first time Bullhorn surveyed agency revenue, which when compared with size revealed a chasm between large and small agency revenues.
Ninety per cent of respondents, who provided information about their performance, remuneration and agency revenue anonymously, report that competition increased in 2013 and named ‘total number of placements’ as the most important metric for measuring performance for the third year in a row.
The Bullhorn 2014 UK Trends Report also draws comparisons to recruitment performance in the United States – click here to download it for free. Bullhorn’s cloud-based recruiting ATS/CRM, back office, and social recruiting products serve more than 10,000 clients representing nearly 300,000 users across 150 countries.
