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The UK recruitment sector grew by 2.8% during 2018 (read more), defying numerous economic and political challenges that have occurred over recent years. In this article, we will explain why the industry is continuing to flourish with the value that recruitment brings to customers.
No country is as good as the UK when it comes to recruitment, with revenue from UK recruitment firms hitting a staggering £12.3bn last year (read more). Moreover, 1.1m people were placed in permanent roles alone during 2017/18 (read more).
One reason for this growth is the fact that most recruiters, such as Hamlyn Williams have adapted well to shifting skills needs. As businesses continue to evolve their practices and adapt new-found innovative technology to streamline their processes, skills requirements within teams are changing fast. Recruitment firms who value client relationships and consult with their partnering Hiring Managers on a regular basis have seen the greatest success. Understanding new skills requirements early on in the recruiting process has enabled the ‘perfect candidate’ to be put forward far more often than usual.
Even though 96% of HR professionals and recruiters are saying Brexit has affected their strategies, the UK recruitment sector continues to grow and see huge investment (read more). One such high growth area is within the M&A space. The UK is considered the world’s number one for M&A recruitment (credit: Recruitment Sector Insights Report). With London’s stellar reputation for Financial Services, our Banking & Front Office team has been able to develop close professional relationships with some of the world’s leading financial institutions which are right on their door step.
Furthermore, uncertainty surrounding the UK labour market makes the need for recruiters to boost employment, even greater than usual. Work flexibility is continuing to grow and adapt, meaning that the need for recruiters to connect candidates and clients is crucial.
Recent advancements in technology have been a contributing factor to the growth of the UK recruitment sector. Through implementation of automation systems, artificial intelligence, etc. recruiters are able to save time, identifying more suitable candidates who may not actively be job searching. Algorithms that can self-learn over time to better and more quickly match candidates with clients is cutting time-to-placement and improving upon accuracy in matching suitable prospects. Over time, more data will be fed into AI systems, increasing its capabilities, potentially contributing to continued growth in the UK recruitment sector through more streamlined processes.
To summarise, the UK recruitment industry continues to flourish due to recruiter intuition and relationship-building, recent significant technological advancements, and other contributing factors. This is all despite skills shortages, shifting skills needs, and high levels of uncertainty surrounding Brexit.
Hamlyn Williams is at the forefront of this fast-paced and growing industry. See for yourself by taking a looking at our latest vacancies. Alternatively, email firstname.lastname@example.org or contact us on 0203 675 2920 for a consultation.