Commissioned by the REC, this ground-breaking study explores the socio-economic impact of recruitment and looks at how, as an industry, recruitment can accelerate the country’s road to recovery from the pandemic.
It’s a fascinating read and really demonstrates the value that the recruitment industry brings to UK productivity. As a recruitment business and long-term member of the REC, we find this report very promising and will continue to play our part in ensuring we do our utmost to help speed up the recovery from the damage that this pandemic has created.
A few of the report’s key findings:
- The recruitment industry supports £86 billion in gross value added across the country
- By sales revenue, the UK has the biggest recruitment sector of any country in Europe
- In total, the recruitment sector is increasing UK productivity by an estimated £7.7 billion a year by improving the quality of matching
- Every 21 seconds somebody finds a permanent role through a recruitment agency
- Covid-19 has accelerated the shift towards a more flexible labour market – 28% of large businesses said they were more likely to hire people in the future who do not live close to the office – remote working itself could boost UK productivity by £9 billion.
It’s a great study that shows how getting recruitment right is crucial for workers, companies, and the economy as a whole.
The full report can be found here.