Recruitment industry growth continues
In the first four months of 2017, the amount of new recruitment agencies that have opened up ample of opportunities, has reached to almost 900. And that is just the beginning of 2017. A leading PR firm for the recruitment industry states that the rate of growth is a bit less than the one in 2016, but, the number is stated to rise after the results of General Election comes out.
As per the reports and figures by ClearlyPR, under the fundamental right of Right to Freedom of Information, a request from the Companies House was made which shows that a total number of 887 new recruitment agencies or businesses were registered officially between 1st January and 30th April, 2017.
In January alone, 302 new recruitment agencies were officially registered. February saw the registration of 181 new agencies and 298 agencies were registered in March alone. April saw a comparative decline to registration of 106 new recruitment agencies. This happened because of the news of General Election that appears to have a slowing effect on the number of recruiters.
An average of 221 new recruitment agencies were registered within and in each of the first four months in 2017 in comparison with the average of 380 agencies which were registered in each and every month during 2016 as a whole. This is entirety brings the gross number of recruitment agencies in UK to a record-breaking high of 27,788 which is thrice the increase since 2012 and a raise of 18,158 agencies in just five years.
4529 new recruitment businesses were officially registered in 2016 in comparison to the 3984 agencies registered in 2015 and 3027 in 2014. The Managing Director of ClearlyPR, Paul MacKenzie-Cummins, commented that the last three years have proven to be exceptional for the frowth of recruitment sector.
He further said that the positive trading conditions along with improvement in the employer confidence has been fundamental to provide a perfect platform for the new aspiring recruitment entrepreneurs or the budding recruiters to go it alone. He said that even though the number of new agencies registered since the very start of the year has been a little lower than the average in the start of last year, he can see an upswing in the coming months to follow.
He said that the first half of 2016 had seen the registration of new companies but the number was lower than the ones seen today. This was majorly due to the postponing of plans by the would-be recruitment entrepreneurs owing to the pending outcome of Brexit vote in June. Similar story could be seen this year as well with the pending General Election in June. The General Election in June has been responsible for lowering the numbers of the agencies in April. He also said that if the last year was any indication, then the numbers would rise again once again after the results of the election come out.
This is a true fact since immediately after the two months of the decision taken by the UK to leave the European Union, there was a sharp rise in registration of the new recruitment agencies that was almost 1,051- covering almost 23% of the entire new registrations in 2016.
Since the recruitment industry is a major driver for the UK economy, there are hardly any sectors that can match it in terms of the entrepreneurship. For overcoming competitors and making a mark for themselves, the agencies need to find new ways for raising their profile and position. Being just a brand is no longer important. Word-of-mouth publicity is now the go to tool. Social media presence is essential for candidate engagement.