Twice each year, we survey the members of our global recruitment network to benchmark past results and predict future results. I’m pleased to share the latest results of our business barometer benchmarking survey today. NPAworldwide has more than 500 member locations across six continents. The business barometer asks members to report on all of their recruitment activity, not just the split placements made with other NPAworldwide members.
Some background data about the survey respondents:
- For 65% of respondents, the majority of their business is conducted in North America
- 23% primarily conduct business in Australia/New Zealand
- The remaining 12% report the majority of their business occurs in Asia, Latin America, or EMEA
- More than 70% of respondents focus on both clients and candidates; 17% exclusively work with clients to fill openings and the remaining 12% exclusively provide candidates for other recruiters’ job openings
We ask members to compare business within the past 180 days on a year-over-year basis. Over the past six months, 79% of survey respondents indicate that their global recruitment results were the same or better than the same time frame a year ago. Looking at the most recent 90 days, 68% say that business results are in line with or above expectations. Members were split nearly 50-50 on whether there is more competition compared to last year or the same.
More than 70% are bullish about the next six months. This is in line with a recent report from Jobvite indicating recruiting is expected to be just as challenging in 2017. Just 15% are reporting that fees are on the decline from a year ago. Separately, we are seeing increases in both fees and salaries across multiple sectors.
Next we ask members to report on both strong and weak verticals over the past 180 days. The strongest verticals reported are accounting/finance, technology, and manufacturing/supply chain. There continue to be soft pockets in the chemical and oil/gas sectors due to continued fluctuations in the global prices of crude oil. Nearly half of respondents say that none of the verticals they work have been weak.
With a well-known and reported candidate shortage, we are expecting to see continued strong demand for global recruitment in the weeks and months ahead. What are you seeing in your recruitment market? Comment below!