How big is the UK recruitment market?

2020: A YEAR LIKE NO OTHER On the eve of the new year, in December 2020, the REC published its UK Recruitment Industry Status Report 2019/20. This confirmed that the sector’s direct contribution to the UK economy amounted to £42.3billion in 2019 – a rise of 8% on the preceding year.

How much is the UK recruitment market worth?

Recruiters’ direct contribution to the UK economy reached £42.3 billion in 2019, accounting for 2.1% of UK Gross Value Added (GVA)*, according to the REC’s UK recruitment industry status report published today.

How many recruitment businesses are there in the UK?

There are currently 39,232 recruitment agencies registered as trading in the UK. With the latest figures from the Office for National Statistics showing there are 2.67 million limited companies as of end of March, this equates to around 67 businesses per recruitment agency.

How much is the recruitment industry worth 2020?

From a market size of 151.8 billion U.S. dollars in 2019, the U.S. staffing and recruiting market is predicted to decrease to 119.4 billion U.S. dollars in 2020 due to the coronavirus outbreak, a 21 percent decrease from the previous year.

What are the new trends in recruitment?

7 talent acquisition and recruitment trends in 2021

Remote interviewing. One of the most recent trends that has emerged in the talent acquisition and recruitment area is remote interviewing.
Candidate experience.
Diversity and inclusion.
Contingent workers.
Analytics.
Artificial intelligence.
Skills and competencies.

How do you attract talents in 2020?

Attracting the best talent is no walk in the park….

Create a candidate persona. You don’t want just anyone responding to the jobs you’re posting.
Launch an employee referral program.
Improve your employer brand.
Leverage social recruiting.
Embrace recruitment automation.

Is the recruitment market down in the UK?

Despite the impact of the global pandemic, transaction volume in the UK recruitment market ended the year with just four fewer deals than 2019, and with significant momentum heading into 2021. Globally, deal volumes were down 20% compared to 2019.

Is the UK job market showing signs of recovery?

The latest figures suggest that the jobs market is showing signs of recovery. The number of payrolled employees has increased for the sixth consecutive month, up by 197,000 in May 2021 to 28.5 million. It is however 553,000 below levels seen before the coronavirus (COVID-19) pandemic.

Are there any trends in the recruitment industry?

Yes, we’re now in an age where AI, augmented reality, and machine learning rule. But finding the right balance between digital and traditional channels is key to accomplishing recruitment priorities such as improving quality of hire (52%) and time-to-hire (23%) (HRD America, 2020, 2021). Source: Jobvite, 2021.