Recruitment Industry Trends 2017/18
Recruitment Industry Trends is the REC’s annual report about the shape of the UK’s recruitment industry.
In a year with no small degree of political and economic uncertainty, this report reveals some impressive results for the recruitment industry, particularly a 10 per cent rise in the number of recruitment enterprises, and an 11 per cent rise in total industry turnover, reaching a record £35.7 billion.
While we may not see the same level of growth over the next three years, we forecast that the industry will still see turnover growth of 4 per cent in 2018/19, 4.5 per cent in 2019/20 and 5 per cent in 2020/21, despite the unknowns in the political landscape.
Key stats from this year's Recruitment Industry Trends report 2017/18
- £30.85 billion (86 per cent industry turnover) was achieved through temporary/contract placement activity while approximately £4.84 billion (14 per cent) was generated through permanent placements activity.
- As a whole, the recruitment industry, including associated HR services, made 1,142,000 permanent placements in 2017/18.This was an increase of 14 per cent on the previous year.
- Almost two thirds (64 per cent) of temporary assignments were for 12+ weeks, while one in five (20 per cent) were for 6+ months.
- 85 per cent of contract placements were for 12+ weeks, and 45 per cent of contract workers were on assignment for 6+ months.
- The average value of permanent placements from the wider recruitment industry was £4,238, up by 6.4 per cent on the average in 2016/17.
- The average annualised turnover of each temporary/contract worker on assignment was £34,976, up 20 per cent on the average in 2016/17.
How does your business measure up against the rest of the UK recruitment industry?
Our new interactive tool lets permanent and temporary/contract recruiters benchmark themselves across a number of metrics.
Temporary/contract interactive tool
Permanent interactive tool