UK recruitment industry status report 2022/23
Recruitment industry status report
Welcome to the REC’s Recruitment Industry Status Report for 2022-2023. Every year we survey REC members across the UK to bring you the latest figures for the value and size of the staffing industry and the number of people we place into work.
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Recruitment is thriving after calmly coming off something of a sugar rush in the immediate post-pandemic era. Recruiters remain an exciting, thoughtful and vital part of our economy as they use their expertise to help clients find and keep talent in the tightest labour market for a generation.
A result is that, in real terms, the sector’s growth between 2021 and 2022 was 5.9% which represents strong growth performance compared to other sectors. The recruitment industry’s direct GVA amounted to an estimated £41.3 billion in in 2022.
The story of the past 18 months is candidates seeking higher wages as employers competed to attract them and as they dealt with increased costs of living. This played out particularly in talent short sectors. Virtual interviews and remote hiring processes were prominent, impacting the dynamics of candidate interactions. There are very obvious signs people wanted to work for organisations where there is a real purpose to the bigger picture. Skills and the diverse demographics of the labour force meant employers and organisations had to look more towards personalising the offer and enhancing flexibility for an ever-changing talent pool.
Michelle Mellor Chair, REC Board.
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