Twice annually, we conduct a business barometer survey of our members. The purpose of the survey is to benchmark past results as well as to help form a short-term recruitment outlook. Survey participants are the owners of the nearly 500 recruitment firms that make up our membership. In our newest survey, fully two-thirds of respondents reported a positive outlook for the next 180 days. Seventy percent indicated that business over the past 180 days was the same or better when compared to a year ago.
Survey participants are also asked to provide where their business is physically located compared to where most of their actual recruitment activities take place. Approximately 60 percent of respondents are located in the USA and also conduct most of their business in the USA. Nearly 23 percent are located in Australia / New Zealand and conduct their business in that region as well. The remaining respondents were located in Asia, EMEA, and South America.
More than 80 percent of survey participants said that recruitment fees are in line with or ahead of last year; this is to be expected as the severe talent shortage continues. Simple supply and demand laws dictate that prices are higher when supply shrinks. Fees are, in many cases, rising either due to price increases or because salaries are rising in order to remain competitive.
The strongest vertical markets reported by NPAworldwide members are:
- Accounting / Financial Services
- IT / Hardware / Software / Electronics
- Manufacturing / Mining / Construction / Supply Chain
A number of respondents anecdotally suggested that consumer goods (particularly FMCG) and retail also have strong recruitment activity.
There were not significant weaknesses reported in any verticals apart from some pockets in manufacturing. Again anecdotally, members who are working in petroleum-related sectors have reported some slowness due to continued low oil prices.
Overall, members are growing and feel positive about continuing that growth into the year.
Good news all round.