The Future of the Recruitment Industry in the light of economic uncertainty

The recent threat of terrorism and uncertainty comes just as the UK records its slowest economic growth in 12 years; heavy consumer debt and high oil prices are taking their toll and Britainís manufacturing sector has fallen into recession. Consumers often react to uncertainty by not spending money, particularly on expensive items like major appliances or cars and department stores are reporting a drop in sales of up to 15%. Whilst the economy is steady, this slower rate of growth will have an impact on the way companies respond to key decisions. In times of uncertainty companies will be looking for ways to sharpen business processes, improve their supply chain and cut costs.



So what does all this mean for the recruitment industry?

Cautious about investing in expensive senior level executives, companies may turn to Interim Managers for the answer. ìWhen our economy is facing uncertainty, businesses need to find fast and effective ways of improving their efficiency. This paves the way for the appointment of an interim manager, which is a very cost effective alternative to the use of a management consultancyî comments Paul Steiger, Head of Interim Appointments at Ellis Fairbank plc.

ìGood individuals with specific senior management experience are hard to find. There is an acute skills shortage in the UK and interim managers fill the gap where permanent employees are either not required or can not be found quickly enough. Employers are now becoming more familiar with interims and we have seen interest in our business significantly increase in recent timesî.

Appointed to develop Ellis Fairbanksí interim offering, Steiger has 10 years experience within this market. ìInterim Managers can seamlessly merge into a companyís culture and provide solutions that will sustain a business throughout this uncertain period. Often compared to management consultants, they are different in that they are more hands-on and able to actually implement the required solution. Our interim managers are exceptionally well qualified and have the ability to be sensitive to a companyís ethos whilst still remaining objective and impartialî.

The investment in an interim business is the latest in a series of initiatives launched by Ellis Fairbank this year in their goal for flotation in 2007. Beating all profitability records last year, Ellis Fairbank has developed a business that is truly differentiated from its competitors by offering a range of human resource services that span the attraction, assessment, recruitment, retention and development of human capital. The addition of an Interim business comes at a time when demand is increasing and businesses are crying out for value-based solutions to business problems.