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Recruitment Agencies (Permanent) Market Report 2006Product Type: Market Research ReportPublished by: Key Note Publications Ltd Published: January 2006 Product Code: R310-1275 Description This Key Note Market Report examines the UK market for permanent recruitment agencies, which includes firms engaged in general and executive permanent appointments. The market is segmented into the following recruitment sectors: blue collar, computing/IT, drivers, education, financial, hotel/catering, nursing/medical, professional/managerial, secretarial/clerical and technical/engineering. More than a quarter of the placements in the market are for secretarial and clerical appointments, while computing/IT and financial appointments represent more than 10% each.According to figures from the Recruitment & Employment Confederation (REC), in the year to March 2005, the market was worth £3.21bn and the number of appointments was 654,203. Both figures represent massive increases on the previous year's figures from the REC. However, the figures for the year ending March 2005 cannot be compared directly with those of previous years because the methodology used to compile the figures has been changed. While there has indeed been a rise in the value of this market, it would seem that the latest figures overstate the increase. From March to December 2005, the market continued to perform well. In fact, for some small firms, the last 2 months of 2005 were their best since 2000. The major firms include Adecco Holdings (UK) Ltd, Brook Street (UK) Ltd, Carlisle Group PLC, HR GO PLC, Hudson Global Resources, Michael Page International PLC, Pertemps Recruitment Partnership Ltd, PSD Group PLC, Robert Walters PLC, SThree PLC and Whitehead Mann Group PLC. Most of the industry is UK owned. The growth in the market and the improved profitability triggered a significant rise in mergers and acquisitions during 2005. Companies that specialise in executive search reported very strong growth during the year, although a few of these firms did not benefit from the improved market conditions as much as their rivals. Although the market has improved, it appears to have become more competitive. One difficulty experienced by almost all recruitment firms has been a shortage of good candidates. Key Note forecasts that the market will drop in value in the year to March 2006, before resuming a steadier pattern of growth thereafter. This forecast is based on the assumption that the UK economy will grow by around 2% in 2006. Much will depend on what happens to the UK and the EU economies as a whole in 2006, in particular whether interest rates will be reduced. Table of Contents Executive Summary 1. Market Definition REPORT COVERAGE MARKET SECTORS MARKET TRENDS Market Performance Staff Shortages Salary Levels Recruitment Firms' Fee Rates ECONOMIC TRENDS Population Table 1: UK Resident Population Estimates by Sex (000), Mid-Years 2000-2004 Gross Domestic Product Table 2: UK Gross Domestic Product at Current and Annual Prices (£m), 2000-2004 Inflation Table 3: UK Rate of Inflation (%), 2000-2004 Unemployment Table 4: Actual Number of Unemployed Persons in the UK (million), 2000-2004 MARKET POSITION Table 5: The Permanent Staff Recruitment Market's Share of the Overall UK Recruitment Market by Turnover (£bn and %), Years Ending March 2001-2005 2. Market Size THE TOTAL MARKET By Value Table 6: The Total UK Permanent Staff Recruitment Market by Turnover (£bn), Years Ending March 2001-2005 By Volume Table 7: Number of Permanent Staff Placements, Years Ending March 2001-2005 BY MARKET SECTOR Blue Collar Computing/IT Drivers Education Financial Hotel/Catering Nursing/Medical Professional/Managerial Secretarial/Clerical Technical/Engineering 3. Industry Background RECENT HISTORY INDUSTRY SYNOPSIS NUMBER OF COMPANIES Table 8: Number of UK VAT-Based Enterprises Engaged in Labour Recruitment and the Provision of Personnel by Turnover Sizeband, 2001-2004 EMPLOYMENT Table 9: Number of UK VAT-Based Enterprises Engaged in Labour Recruitment and the Provision of Personnel by Employment Sizeband, 2003 and 2004 REGIONAL VARIATIONS IN THE MARKETPLACE HOW ROBUST IS THE MARKET? LEGISLATION KEY TRADE ASSOCIATIONS Recruitment & Employment Confederation Other Professional Bodies Association of Executive Search Consultants Chartered Institute of Personnel and Development 4. Competitor Analysis THE MARKETPLACE General Permanent Recruitment Executive Recruitment MARKET LEADERS Adecco Holdings (UK) Ltd Company Structure Current and Future Developments Financial Results Brook Street (UK) Ltd Company Structure Current and Future Developments Financial Results Carlisle Group PLC Company Structure Current and Future Developments Financial Results HR GO PLC Company Structure Current and Future Developments Financial Results Hudson Global Resources Ltd Company Structure Current and Future Developments Financial Results Michael Page International PLC Company Structure Current and Future Developments Financial Results Pertemps Recruitment Partnership Ltd Company Structure Current and Future Developments Financial Results PSD Group PLC Company Structure Current and Future Developments Financial Results Robert Walters PLC Company Structure Current and Future Developments Financial Results SThree PLC Company Structure Current and Future Developments Financial Results Whitehead Mann Group PLC Company Structure Current and Future Developments Financial Results MARKETING ACTIVITY 5. Strengths, Weaknesses, Opportunities and Threats STRENGTHS WEAKNESSES OPPORTUNITIES THREATS 6. Buying Behaviour WHAT THE CLIENT IS LOOKING FOR Executive Search THE ROLE OF THE RECRUITMENT/SEARCH FIRM 7. Current Issues MARKET CONDITIONS EXECUTIVE SEARCH CORPORATE ACTIVITY RECRUITMENT AND RETENTION TRENDS 8. The Global Market MARKET SIZE LARGEST MARKETS Table 10: The World's Five Largest Recruitment Markets ($bn), 2004 and 2005 TOP GLOBAL COMPANIES Table 11: The Top Three Executive-Search Firms Worldwide by Revenue ($m), 2005 9. Forecasts INTRODUCTION The Economy Table 12: UK Economic Forecasts by Population, Gross Domestic Product, Inflation and Unemployment (000, % and million), 2005-2009 FORECASTS 2006 TO 2010 Table 13: The Forecast Total UK Permanent Staff Recruitment Market by Turnover (£bn), Years Ending March 2006-2010 FUTURE TRENDS Mixed Messages Restrictive Covenants Corporate Activity Market Challenges 10. Company Profiles Adecco Holdings (uk) Ltd Brook Street (uk) Ltd Carlisle Group Plc Hr Go Plc Michael Page International Plc Pertemps Recruitment Partnership Ltd Psd Group Plc Robert Walters Plc Sthree Plc Whitehead Mann Group Plc 11. Consumer Confidence METHODOLOGY THE WILLINGNESS TO BORROW Table A: The Average Amount Consumers Are Willing to Borrow in Order to Purchase Expensive Items at Current and Constant November 2004 Prices (£ and £bn), November 2004, February 2005, May 2005, August 2005 and November 2005 The Desire to Borrow Stays Strong Table B: The Number of Adults Willing to Borrow in Order to Purchase Expensive Items (000 and %), November 2004, February 2005, May 2005, August 2005 and November 2005 THE WILLINGNESS TO SPEND FROM SAVINGS Table C: The Average Amount Consumers Are Willing to Spend from Savings in Order to Purchase Expensive Items at Current and Constant November 2004 Prices (£ and £bn), November 2004, February 2005, May 2005, August 2005 and November 2005 Consumers Increasingly Cautious Table D: The Average Amounts Adults are Confident Spending to Purchase Expensive Items (£ and %), November 2004, February 2005, May 2005, August 2005 and November 2005 12. Further Sources Associations Publications Government Publications Bonnier Information Sources |
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