Whether you believe the recruitment industry is going through a “bad time” or “has simply returned to normal after the highs of 21/22”, there’s no doubt that things haven’t been as easy as they once were! Regardless of what you read, I’m seeing many still deliver really positive performances across multiple verticals 🙌! This recent update on Seed / Series A funding is a positive light too. Whilst I’m sure many companies won’t repeat uncontrolled headcount splurges of the past, I do believe we’ll see much more positive hiring trends in the latter parts of this year and early 24. More movement in the private equity space coupled with organisations moving back towards offence as they suffer the impact of RIF’s means a larger demand for the best talent. That demand has never left, but it will become more pronounced 💯 Those recruiters who have doubled down on their processes, measured their conversion metrics closely, focussed on the right types of business at the top of the funnel and invested in developing solution led approaches will see the biggest upswing in results over the next 6-12 months. There is absolutely market share up for grabs but relationships need to begin being built, or built upon, now. How do you see the end of the year shaping up?
I tend to agree Dougie. I think many Rec/Search firms are already lean from a headcount perspective, but have also invested in rec tec/processes to ensure they're as efficient as possible. Those doing well at the moment, or even those managing to cover their costs, are well placed to benefit from any upswing, or failing competitors. With 25+ years in the sector, I'm not sure Recruitment ever been easy? Some niche sectors are still very strong.
Couldn’t agree with every thing you said more! 👏🏼
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1y"measured their conversion metrics closely" - this is where we've spent the most time with recruiters over the past ~6m - ensuring a clear understanding of what's happening/working at the outreach/engagement stage. Recruitment as an industry is usually very strong on conversion metrics across the 'delivery' section of the funnel, not so often at the very top. Some great tools out there which are making this easier, though... 😊