For recruiters, 2022 was dominated by the sheer scale of demand from clients as the economy normalised after the pandemic. Much of our work focused on helping members to meet this tide of demand and framing the debate about how to tackle shortages with both government and clients.

Personal highlights for me included the annual conference, which focused on helping members navigate a unique market, and the strong relations the REC was able to build with both front benches in the House of Commons. On the Government side, autumn was a unique challenge as we had three Prime Ministers in just a few weeks. Attendance by senior politicians at our Parliamentary Reception, in January this year, served to emphasise how far we have come. Finally, identifying a new, fit-for-purpose home for the organisation was a special moment – delivering both value for members and a great workplace for our team from the middle of 2023.

Last year was also notable for the REC delivering its highest-ever rate of renewal amongst our company members. Thank you – we never take your support for granted. I’m pleased to say that the REC’s core services to members – from legal advice and contracts, to training and awarding – also drew strong member support during the year. This left us with revenue growth of over 8.5% in the year despite constraining rises in membership and service fees to well below the rate of inflation again. As members would expect, we put every penny of this to work in support of members in such a challenging market, leaving the business in a break-even position overall, despite the impact of inflation on our costs.

Finally, on a personal note, I want to thank Sarah for all her work to support the REC over the past decade, but especially since becoming Chair in 2020. Every Chief Executive knows the value of having a good Chair, and Sarah is one of the best.

All the best to you and your business.

Neil

Welcome to this year’s REC Annual Report. After three years in the role, this is my last as your Chair. I look forward to handing the role on to my successor with the REC in good shape to deliver for you, our members. Looking back to 2020 when I took on the role of Chair, so much has changed as we emerged from the pandemic.

Over this past year, I have particularly enjoyed the ability to get around the country to meet REC members in person and to discuss their hopes and concerns. Now that we can host them regularly, our more regular regional meetings and engagements have become very popular with members and deliver on the commitment we made back in 2020.

Big events, like our awards each November, also emphasise the vibrancy of our industry and the importance of in-person connection. The other main priority I set on becoming Chair was around the role and standing of recruitment.

From the progress that the REC is making with equality, diversity, and inclusion (EDI) and hiring dedicated resources to better support members, to the way in which the REC has become a go-to voice on key people issues, the impact of the organisation has grown significantly. Our Overcoming Shortages report, for instance, has opened up a wide range of new discussions - not just with governments and the media, but with the wider business community too.

This last point is an important one for us. The standing of our industry has risen with the focus on talent that the last few years have brought. As businesses, the opportunity exists to sell and deliver as the professional services sector we are. That is a big change – from the seniority of our client relationships, to the nature of our delivery. But I know the REC is already working to support you with it. I pass on your organisation in good health.

Many thanks for all your support over these past three years. I want to particularly mention my fellow REC Directors on this, who continue to ensure the REC is developing in your best interests.

Sarah