In the last year, the recruitment industry grew rapidly past its pre-recession peak, with annual revenue of £28.7 billion; 6.3% higher than the previous record. Whilst the industry is experiencing growth, it is also evolving, but are you evolving with it?
The rapid development of today’s diverse and distributed workforce has resulted in the recruitment industry having to play catch up to stay relevant.
With a varying list of motivational factors and a shift in working lifestyles, traditional recruitment models are in need of a refresh. Combine this with the internet and technology’s rapid development, making communication and interaction between businesses and potential candidates easier, and you have a recipe for recruitment companies becoming cut out of the loop.
What is shaking things up?
- An estimated 14.1 million British people, both men and women, want flexibility in the work place, either in hours or location. Flexibility is seldom mentioned in job adverts, creating a significant bottleneck in the job market. It is estimated that only 6 in every 100 jobs would consider flexible working hours; however, 9 out of 10 recruitment managers would consider flexible working hours for an employee with the right skills and working ethos. This needs to be communicated better to candidates. As the job market strengthens, recruiters need to stay in tune with what candidates want and not just focus on their client’s demands.
- A significant proportion of talented professionals are now already employed and not ‘actively seeking employment’, as a result there is a growing trend for businesses to headhunt the perfect candidate themselves. 75% of professionals are open to changing jobs if a suitable opportunity arose. The increased use of social networking sites like LinkedIn, which has recently overtaken twitter with 364 million users, is making the process easier for business’ to source the perfect potential new team member directly – with no need for a recruitment company.
- Alluded to above, social media is connecting potential candidates with potential employers. With 41% of global firms using social media in 2014 as a marketing device, more of them are noticing the potential of the same media as a recruitment tool.
A changing market
The days of having a job for life are over. Employees have complex and varied expectations. Social media and the internet have changed the rules, making communication between businesses and their potential employees, direct and instantaneous.
To stay relevant recruiters must alter their offering and methods and demonstrate how they can add value to both candidates and clients. Demonstrating an awareness of the changing needs and requirements of modern employees and businesses, and showing an innovative use of social media and new technologies to connect the perfect candidate and business together, are key components of this.
With an estimated one third of UK workers expecting to change job roles in 2015, there is a huge market for recruitment companies, but it is only those that can continue to demonstrate their value to clients and candidates alike that will thrive.
Enabling Change offer recruitment training, recruitment development and headhunting training courses to ensure your recruiting business is one that thrives in the new age. To find out more about our courses, contact us on 01264 360 234 today.