RECRUITMENT INDUSTRY CONTINUES TO GROW DESPITE BREXIT UNCERTAINTY
The number of businesses operating in the UK recruitment industry grew by almost ten per cent in the year to March 2018, totalling 30,430, and the industry employed approximately 115,000 people – enough to fill all the seats and the pitch at Wembley Stadium.
Other figures from the 2017/18 report include:
- Almost two thirds (64 per cent) of temporary assignments were for 12+ weeks, while one in five (20 per cent) were for 6+ months (compared to 61 per cent and 20 per cent respectively in 2016/17)
- 85 per cent of contract placements were for 12+ weeks, and 45 per cent of contract workers were on assignment for 6+ months (compared to 80 per cent and 44 per cent respectively in 2016/17)
- The average value of permanent placements from the wider recruitment industry was £4,238 (up by 6.4 per cent on the average in 2016/17)
- The average annualised turnover of each temporary/contract worker on assignment was £34,976 (up 20 per cent on the average in 2016/17)
Recruitment Industry Trends 2017/18 also includes the REC’s forecast for the next three years, which remains positive despite the unknowns in the political landscape. The REC forecasts that the UK’s recruitment industry will grow by 4 per cent in 2018/19, 4.5 per cent in 2019/20 and 5 per cent in 2020/21.