Times are a-changing!
Both before and after Brexit, over 300 UK and mainland Europe recruitment firms were surveyed. The survey has allowed for an insight into how UK firms are responding to the current Brexit situation.
The survey found that recruitment agency's optimism surrounding the industry has significantly increased. Within the next two years, many firms expect their agencies revenue to increase more than it did last year. They also expect that the total number of placements will increase, compared to last year; and they saw that this increase, was in part, due to social media. Reason enough to invest in social media, that's if you haven't already!
The survey also found that what remained the same for recruitment professionals was the challenge of identifying qualified, relevant candidates and dealing with skill shortages. This challenge is great news for niche recruitment agencies and is a big source of opportunity for recruitment agencies, as it means they can keep up and compete with the demand for skilled workers.
There appear to be three key trends that have emerged during this period:
In order to overcome a number of the challenges that agencies are facing, technology must be utilised. Technology plays an important role when taking advantage of the opportunities on the market. 19 percent of the respondents in the Post-Brexit survey commented that new technology, such as improved CRM platforms and sales automation, represent the best opportunity for agency growth. However, 17 percent of respondents commented that social media had the greatest potential. Many agencies use a CRM system for candidate management, the poll taken in Pre-Brexit found that 82% have used one. In the Post-Brexit poll, it seemed interest in CRM systems grew; with 78% saying they plan on using one, whilst 13% still appeared to be unsure.
Both surveys showed a general optimism about the challenges recruitment agencies face. Respondents indicated a high level of confidence in their own skills in finding niche candidates that clients need. 36 percent of respondents in the Post-Brexit survey said the lack of specialist skills is a trend that represents the best opportunity for growth for the next two years, whereas a quarter outlined that the lack of candidates is their best opportunity for growth.
Amongst all industries, there appears to be a shortage of skilled candidates which makes it a challenge for recruitment agencies, such as ourselves, to find the right person to fill a certain role. A huge 83% of respondents agreed with this notion within the Pre-Brexit poll. In the Post-Brexit poll, 65% of respondents said they expect this to persist for the next two years. 40% of respondents agreed that a shortage of skills for specialist positions seems to be the biggest industry challenge that recruiters will face with a lack of candidates being the next challenge, swiftly followed by the challenges of social media recruitment and the incorporation of new technologies.
What do you think of these results found in the survey? Do you agree? Disagree? Tweet and share your opinion with us!