Successful business expansion relies on both hard work and effective strategy
85% of professional recruitment leaders are confident that their business will grow successfully over the next 12 months, despite the fact that one in three (30%) believe that Brexit will have an impact on financial performance. That is according to the latest survey data from the Association of Professional Staffing Companies (APSCo).
The survey was conducted as part of APSCo’s Growing Together campaign to gain new insight into the current issues associated with growth in the professional recruitment sector.
APSCo’s research also confirms that talent is key to growth, with 98% of respondents citing ‘having the right people on board’ as important or very important. The need to upskill employees was also identified as the main barrier to growth, with over half (57%) of those surveyed indicating that this is their primary concern.
Looking at the expected impact of Brexit specifically, half of all respondents (50%) anticipate fewer permanent vacancies as clients ‘wait and see’. A similar number (44%) predict that they will see an increase in contract assignments. Almost half (40%) are planning to review business strategy in response to Britain exiting the EU.
When quizzed about the usefulness of APSCo membership, 70% of existing members cited services that reduced risk, such as legal support, as most useful. Among non APSCo members, market intelligence was perceived to be the greatest value, with 72% of this group indicating so.
In response to the data, APSCo’s Chief Executive, Ann Swain, commented;
“These findings confirm what we have long suspected – that access to great talent is both crucial for growth, and an ongoing concern for the professional recruitment sector. Staff churn and access to CPD opportunities can have a negative impact on productivity, and having the right people ‘on the bus’ is the most important single factor in driving business success.”
“It is unsurprising that the impact of Brexit is being felt by the professional recruitment sector. However, it is encouraging that business leaders are pre-empting possible consequences so that they can flex and adapt in response. We may well see a drop in permanent vacancies, and a subsequent uptick in contract roles, but professional recruiters are nothing if not resilient, and the most successful businesses continually respond to market demand.”
“Against this uncertain landscape, it makes sense that APSCo members overwhelmingly recognise the value of the services we offer to help mitigate risk. APSCo is owned by its members and we have a responsibility to assist the professional recruitment sector in its growth and future profitability. Successful business expansion relies on both hard work and effective strategy, and while we can’t help much with the former, we have immense insight to share on the latter."
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