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Recruitment - UK - August 2019

“The recruitment industry has been set back by Brexit uncertainty and a weakening global economy. These factors have reduced the rate of growth, but also increased demand for flexible temporary labour. Combined with the ubiquity of computing and the internet, a continuing influx of new SMEs are driving competition and fostering the growth of innovative platforms that take advantage of these trends in technology and the labour market.”
– Francesco Salau, B2B Analyst

This Report looks at the following areas:

  • No-deal Brexit will amplify existing skills shortages
  • Brexit uncertainty is both a boost and a hindrance

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Table of contents

  1. Overview

    • What you need to know
    • Executive Summary

        • The market
          • Economic uncertainty drags on recruitment market growth in 2019
            • Figure 1: UK recruitment market value and forecast, £ billion, 2015-24
          • Flexibility of temporary recruitment props up market value
            • Figure 2: UK recruitment market value, by type, £ billion, 2014-19
          • Public sector employment increases for the first time since 2010
            • Figure 3: UK public sector employment, ‘000, seasonally adjusted, 2010-19
            • Figure 4: UK private sector employment, ‘000, seasonally adjusted, 2010-19
          • Companies and brands
            • What we think
            • Issues and Insights

              • No-deal Brexit will amplify existing skills shortages
                • The facts
                  • The implications
                    • Brexit uncertainty is both a boost and a hindrance
                      • The facts
                        • The implications
                        • The Market – What You Need to Know

                          • Recruitment sector growth slowed by uncertainty
                            • Benefits of flexibility offered by temporary employment sustain demand for it
                              • Market value forecast to grow robustly if Brexit is resolved
                              • Market Size

                                • Market value growth slows from 2018
                                  • Figure 5: UK recruitment market value, £ billion, 2014-19
                                • Economic uncertainty has damaged employer confidence
                                  • Figure 6: REC JobsOutlook index, employers’ economic outlook and investment hiring confidence, May-July 2018-Mar-May 2019
                                • Public sector sees growth for the first time in almost a decade
                                  • Figure 7: UK public sector employment, ‘000, seasonally adjusted, 2010-19
                                • Composition of public sector employment
                                  • Figure 8: Public sector employment in central and local government, ‘000, seasonally adjusted, 2010-19
                                • Private sector employment growth continues despite Brexit uncertainty
                                  • Figure 9: UK private sector employment, ‘000, seasonally adjusted, 2010-19
                              • Market Segmentation

                                • Flexibility of temporary recruitment props up market value
                                  • Figure 10: UK recruitment market value, by type, £ billion, 2014-19
                                • Popularity of temporary recruitment reinforces its stability
                                  • Figure 11: Segmentation of temporary and contract employment through recruitment, % volume, 2017 and 2018
                                • Temporary recruitment demand is being shaped by Brexit
                                  • Figure 12: Segmentation of temporary and contract employment through recruitment, % volume, 2018
                                • Permanent recruitment growth slowed by political uncertainty
                                  • Figure 13: Segmentation of permanent employment through recruitment, % volume, 2017 and 2018
                                • Drivers, education and healthcare sectors continue to bolster permanent recruitment demand
                                  • Figure 14: Segmentation of permanent employment through recruitment, % volume, 2018
                              • Market Forecast

                                • Forecast growth remains strong but faces short-term risk
                                    • Figure 15: UK recruitment market value forecast, £ billion, 2019-24
                                  • Future sources of recruitment demand
                                    • Information technology
                                      • Energy, oil & gas and construction
                                        • Health and social care
                                        • Impact of the Economy

                                          • Economic uncertainty presents a growing obstacle to investment
                                            • Figure 16: UK GDP, year-on-year, chained volume measures, seasonally adjusted, £ million, 2012-18
                                          • Business confidence and investment
                                            • Figure 17: ICAEW UK National Business ConfidenceTM index, Q3 2013-Q2 2019
                                            • Figure 18: UK business investment, £ million, Q1 2015-Q1 2019
                                        • Market Trends

                                          • Labour market structure and conditions
                                            • Figure 19: UK employment rate, % of working age population, 2010-19
                                            • Figure 20: UK unemployment rate, % of those aged 16+, 2010-19
                                            • Figure 21: UK average weekly earnings growth, 2001-19
                                          • Population growth and migration
                                            • Migration
                                              • Figure 22: UK migration, thousands, December 2010-18
                                            • UK post-Brexit immigration regime
                                                • Figure 23: UK net migration, by citizenship, December 2010-18
                                              • Vacancies
                                                • Figure 24: UK job vacancies, 000s, 2010-19
                                                • Figure 25: UK job vacancies by industry, April-June 2018 and April-June 2019
                                              • Regional labour markets
                                                • Figure 26: UK employment rates, by region, % of those aged 16-64, Mar-May 2018 and Mar-May 2019
                                                • Figure 27: UK regional employment, by industrial sector, %, March 2019
                                            • Market Drivers

                                              • Skills shortages in the UK
                                                  • Figure 28: Number of apprenticeship starts, 2015/16-2018/19
                                                • Increasing prevalence of flexible working
                                                  • Figure 29: Self-employment in selected industries indexed to 2010 values, 2010-19
                                                • Introduction of IR35 tax legislation
                                                • Companies and Brands – What You Need to Know

                                                  • Influx of new businesses drives competition in an uncertain economic climate
                                                  • Industry Structure

                                                      • Changes in industry structure
                                                        • Figure 30: Analysis of the changes in the structure of the recruitment industry, number of outlets and businesses, 2013-18
                                                      • Structure by employment
                                                        • Figure 31: Analysis of the employment structure of the recruitment industry, 2017 and 2018
                                                      • Structure by turnover
                                                        • Figure 32: Analysis of the financial structure of businesses in the recruitment industry, £’000, 2017 and 2018
                                                    • Company Profiles

                                                      • Adecco UK
                                                        • Recent company activity
                                                          • Financial information
                                                            • Figure 33: Financial analysis of Adecco UK, £ million, 2014-18
                                                          • Hays Plc
                                                            • Recent company activity
                                                              • Financial information
                                                                • Figure 34: Financial analysis of Hays plc, £ million, 2014-18
                                                              • Impellam Group Plc
                                                                • Recent company activity
                                                                  • Financial information
                                                                    • Figure 35: Financial analysis of Impellam Group Plc, £ million, 2014-18
                                                                  • Page Group
                                                                    • Recent company activity
                                                                      • Financial information
                                                                        • Figure 36: Financial analysis of Page Group, £ million, 2014-18
                                                                      • Reed
                                                                        • Reed in Partnership
                                                                          • Figure 37: Financial analysis of Reed in Partnership, £ million, 2014-18
                                                                        • Reed Online
                                                                          • Figure 38: Financial analysis of Reed Online, £ million, 2014-18
                                                                        • Reed Specialist Recruitment
                                                                          • Recent company activity
                                                                            • Financial information
                                                                              • Figure 39: Financial analysis of Reed Specialist Recruitment, £ million, 2014-18
                                                                            • Robert Walters
                                                                              • Recent company activity
                                                                                • Financial information
                                                                                  • Figure 40: Financial analysis of Robert Walters, £ million, 2014-18
                                                                                • SThree
                                                                                  • Recent company activity
                                                                                    • Financial information
                                                                                      • Figure 41: Financial analysis of SThree, £ million, 2014-18
                                                                                  • Appendix – Data Sources, Abbreviations and Supporting Information

                                                                                      • Abbreviations
                                                                                        • Methodology
                                                                                        • Further Sources and Contacts

                                                                                          • Trade associations
                                                                                            • Chartered Institute of Personnel and Development
                                                                                              • Recruitment and Employment Confederation
                                                                                                • Association of Professional Staffing Companies
                                                                                                  • Recruitment Society
                                                                                                    • Trade magazines
                                                                                                      • Human Resources
                                                                                                        • Online Recruitment Magazine
                                                                                                          • People Management
                                                                                                            • Personnel Today
                                                                                                              • Recruiter
                                                                                                                • Recruitment International
                                                                                                                  • Trade events
                                                                                                                    • Recruitment Agency Expo
                                                                                                                      • Recruitment Agency Expo

                                                                                                                      Recruitment - UK - August 2019

                                                                                                                      £995.00 (Excl.Tax)