Whether you’re a start-up recruitment agency or an existing agency, analysing data should be a part of your daily work routine. Receiving statistics about your agency and reading up on key trends in the industry enables you to stay one step ahead.
At TBOS we understand the importance of such figures which why we produce monthly management accounts for our clients. This type of reporting delivers key information about their business enabling them to make informed decisions about hiring more staff, investing in new tech and much more.
In light of this subject, TBOS have listed 30 recruitment statistics you should be aware of in 2019…
- For July to Sept 2019, there was an estimated 813,000 job vacancies in the UK.
- 137,000 job vacancies were in the human health and social work activities sector; this accounted for 16.9% of all vacancies in the UK.
- Salaries for new jobs increased by a staggering 17.7% in Q3 2019. In fact, average pay jumped up to an impressive £40,900 in the UK as a whole.
- Applications are up an impressive 15.9% compared to last year (2018) figures.
- The biggest increase in applications have been located in Portsmouth (36.9% rise), followed by Brighton (19.3% rise) and Southampton (17% rise).
- A record 32.69 million people are employed, that’s 282,000 more than 2018.
- The charity sector experienced the largest surge in applications year-on-year (72.3%), followed by hospitality (45.7%), IT (36.3%), legal (33.6%) and electronics (26.7%).
- The arts & entertainment industry grew the most in job vacancies, with a 12.4% increase compared to its statistics in 2018.
- There has been a 46% year-on-year increase in recruitment company registrations since 2017.
- London is the most popular place for a recruitment start-up, followed by Birmingham, Manchester and Leeds.
- 27.5 days is the average length of the job interview process.
- The recruitment industry grew its valuation by 11% to £35.7 billion in 2018.
- 86% of the UK recruitment industry turnover is comprised of contract placements.
- Average value of a contract placement is up 20% on 2016/17 to £34,976.
- A record 32.69 million people are employed, that’s 282,000 more than 2018.
- According to LinkedIn, 75% of candidates research a company online before applying for a job, researching their social media channels, company website and reviews, this has led to a significant investment from companies in their social media content and management.
- CV library conducted a study on hiring managers which found 90.6% of them would use job boards as their top sourcing channel, followed by LinkedIn (57.9%), their own career website (35.8%), employee referral schemes (34.6%) and lastly aggregators (22.8%).
- 849,000 jobs were unfilled in September-November 2018.
- The average value of permanent placements from the wider recruitment industry was £4,238 (up by 6.4% on the average in 2016/17).
- £3000 is the average cost per hire
- 15% of the UK’s working population are self-employed, totalling 4.88 million people.
- UK pay growth rises to 3.1%, the highest in almost a decade.
- 85% of contract placements were for 12+ weeks, and 45 percent of contract workers were on assignment for 6+ months.
- 43% of the contract market is highly skilled professionals, meaning higher margins are available for recruiters.
- The top three countries for contract recruitment are the US, Japan and the UK.
- The recruitment industry has a reputation for high staff turnover with research showing 45% of recruiting professionals leaving a role after 9 months.
- IR35 contractor opinion showed 72% of contractors would stop working a particular project if they were given an ultimatum by their client or agency to go PAYE or work through an umbrella company.
- 40% of employees are neglecting other aspects of their life because of the pressure of demanding work culture in the UK, making them more vulnerable to mental health problems.
- Flexible work arrangements are the future. Almost 70% of small businesses now offer some form of flexible working to their employees. With 73% of employees saying it has improved their overall job satisfaction.
- 83% of millennials say they are engaged at work when they believe the organisation fosters an inclusive culture.
Sources:
ONS, CV Library, Companies House, REC, SIA, BBC, GOV.UK, Glassdoor
