The latest Business Barometer Survey from global recruitment network NPAworldwide shows that demand for talent has strengthened significantly over the last six months. Sixty per cent of respondents reported results that were better by at least five per cent over the prior 180-day period. This positive growth is expected to continue in the near future. Thanks to this healthy business environment, independent recruitment firms are seeing significant increases in revenue and profitability.
“Demand for talent has strengthened over the last six months. Sixty per cent of respondents indicated results better by more than five per cent over the prior 180 period,” said Dave Nerz, president of NPAworldwide. “While the last half of 2021 was quite positive, and up from prior year results, the continued growth has been impressive for the first half of 2022. More than 40 per cent of reporting recruitment businesses indicated growth of 15 per cent or more over a strong close in 2021. Responses, which arrived in line with talks of global recession and continued market volatility, also show an optimistic view for the next six month period. Businesses are still searching for talent.”
Other results of the Business Barometer Survey of the 550-plus independent members of NPAworldwide indicated:
· 44 per cent of survey respondents are from outside of North America.
· The largest respondent group was from North America at 60 per cent followed by Australia/New Zealand at 18 per cent.
· The remaining respondents were from Asia, EMEA or LatAm.
· At the time of the survey, 88.2 per cent of the respondents see the next six months as positive or the same as the last six months.
· 36.6 per cent of those taking the survey have seen fees increase in the last six months.
“The strongest sectors continue to be technology, manufacturing/supply chain, and accounting/finance. Our independent member firms working these sectors are experiencing strong demand for talent,” said Nerz. “Signals from the economy and from markets are not as positive as the results being experienced by our member firms. While the complexity of hiring is smoothing post-lockdowns and limits driven by the impact of the pandemic, there is still much to learn about hiring and retaining in today’s employment market. Candidates continue to receive multiple offers and counter offers from existing employers. Speed and aggressive compensation planning are required to attract and retain top talent.” NPAworldwide members typically work executive/professional full-time positions on a global basis.
