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Recrutiment & Employment Confederation

REC Annual Report and Accounts 2023

The REC is here to help you succeed every step of the way. Take a look at how we helped our industry and members in 2023. 


Chief Executive's welcome

Neil Carberry headshot 4

2023 was a significant year for the REC. As well as welcoming Michelle as our Chair, and developing a new range of business advice products, the REC moved into its new home, a space that offers better value-for-money for members and delivers our team a more fit-for-purpose working environment.

We also made some significant changes to our team, welcoming Maxine Bligh to the REC to lead on member experience and services, and promoting Lorraine Laryea to be our first Chief Standards Officer. Both appointments are critical to the delivery of our strategy. I also want to take this opportunity to thank the REC staff for all their hard work last year in support of members.

Financially, the REC had a good year especially given the slower performance of the sector in 2023 by comparison to the post-pandemic boom. We delivered a surplus which can now be re-invested into member services. As a member-owned organisation, any profit the REC makes is always used to benefit members.

A particular highlight remains corporate member retention, where in 2023 we delivered a second successive year ahead of any pre-pandemic year. I am delighted to say that this trend has persisted in 2024. We never take your support for granted, so thank you for your commitment to the work that we do on your behalf.

In terms of the work of the REC, my highlight was the large-scale return to in-person meetings around the country. September, when we ran a number of regional events as well as our masterclasses with Greg Savage, saw us see 1,000 members! Getting around the country is the most important part of our job – it helps us to understand what we need to do for you.

2023 was a year full of activity. From our seminal report on technology, to our sold-out equality, diversity and inclusion summit, a fantastic RECLive, and our ever-popular awards night – where we celebrate the work that you do – the REC was noisy and visible in backing you, our members

Our work representing members was no different. We continue to deliver high levels of media coverage for the sector and its important role. Our research has become a touchstone for the Bank of England, and our lobbying has built strong relationships that leave us well positioned, whatever the result of the election.

Your REC entered 2024 in good health. There is a lot to do – but we are positioned to support members’ growth for years to come.

All the best to you and your business

Neil


Annual General Meeting (AGM)

First chance to review the 2023 Annual Report and Trading Accounts. To find out more join us at the Annual General Meeting on 10 July


REC Annual Report and Account 2023

PDF

Each year our annual report highlights our performance and achievement over the past 12 months. Throughout the year we continued to make great work happen for our members and the industry at the heart of the UK economy.

Our 2023 annual report includes: Chair’s welcome, Chief Executive’s welcome, the new home of the REC, helping members tackle the big issues, REC member events, the impact of our campaigns, our influence and reach, members are at the heart of the REC, improving professionalism and industry,  standards, the shape of our industry, trading update 2023, directors’ report and financial statements, look ahead: REC Strategy 2024–2028 and our governance committees.


The chair’s welcome

MM headshot

Welcome to my first Annual Report as Chair. As we navigate the rapidly evolving landscape of the recruitment industry, it is imperative that we embrace change and seize the opportunities it presents. The future holds both challenges and immense potential and it is our collective responsibility to shape it with vision and resilience.

First, I would like to express my sincere gratitude to Sarah Thewlis, my predecessor, for her leadership and dedication during the pandemic and the subsequent recovery period. Her tireless efforts have positioned the REC strongly for the future, despite the headwinds we faced, Sarah’s contributions have left an indelible mark on the organisation.

Since taking up the role of Chair, I have been privileged to engage with members of all sizes and collaborate with our exceptional team. Across all stakeholders, we have leveraged their feedback to develop a new strategy for the REC. This strategy, aptly named “Raised Expectations,” is centred around the paramount goal of member success.

The recruitment industry is undergoing a transformative journey, influenced by technological advancements, the transition towards a low-carbon economy, changing client expectations and potential shifts in government policies. These evolving dynamics present both challenges and opportunities for recruiters to navigate.

Our strategic approach is built upon three pillars, where the REC can make a unique and invaluable contribution:

Our Voice: We will amplify our voice not only to a new government but also to clients and candidates, advocating for the value our industry generates based on value rather than purely price-based competition.

Our Advice: Building upon the success of our ground-breaking report, “Tech-enabled Humanity,” and our comprehensive guide for recruitment businesses on equality, diversity, and inclusion, we will fortify our resources to provide more insightful advice on topics ranging from artificial intelligence (AI) to team development.

Our Professional Focus: Standards and strong professional development are not optional in the world we are moving into. As a professional service with ever-higher levels of regulation and expectation, we all need to step up and the REC is uniquely positioned to help support this endeavour.

The UK recruitment and staffing sector is the third largest in the world, and maintaining this position requires concerted efforts across all three pillars of our strategy. I am excited to collaborate with you, our valued members, as we embark on this ambitious agenda and shape the future of our industry together. 

Michelle