This article was provided for the Recruitment Start up Centre by James of www.initiate8.co.uk
There’s no doubt that financially the UK is in better shape recently. In the first quarter of 2015 the UK economy grew by 0.3%, industrial output increased significantly and the jobless total fell to a seven year low; all positive markers for industry, and especially for the job market.
As a result the recruitment industry is heating up with 4,083 new recruitment agencies launched in the UK in 2014 alone (APSCo). Three quarters of all recruitment agencies reported growth in 2014 and the REC Jobs Outlook survey has predicted continued industry growth of 9% in 2015/16.
The figures suggest there has never been a better time to set up a recruitment agency, and if you are thinking of doing this, here are some of the fastest growing recruitment sectors of the year:
IT
We’re all aware of the impact technology has made over the past decade and London particularly, as well as being a cost effective market place, is fast becoming the tech centre of Europe. With the new demands of mobilisation, big data, and cloud storage, rapid growth is inevitable. Oxford Economics predicts that 46,000 tech jobs will be created over the next decade and the need for workers with niche skills means that demand will continue to outstrip supply in this area for the foreseeable future.
Construction
You only have to attempt house hunting to realise the extent of the housing shortage. With a predicted short fall of 40-50,000 new homes in 2015, the construction industry is struggling to meet demand. As the construction industry continues to grow, the CITB (Construction Industry Training Board) forecasts that 200,000 jobs will be created in this sector over the next 5 years.
Engineering
Engineering has a skill shortage equating to 81,000 people and is crying out for available candidates. 20% of workers in this sector are over 50, so demand for skilled workers will increase further over time. The Royal Academy of Engineering has reported that to bridge this gap 100,000 STEM (science, tech, engineering, maths) graduates are needed each year until 2020. Currently there are around 12,000 engineering students only graduating yearly.
Financial Services
Due to the picture of improved economic confidence, this is another sector performing well. The number of banking and FS jobs advertised has risen by 10% at the beginning of 2015, compared to the same time last year (Robert Walters UK Jobs Index).
Marketing
Whilst companies strive to hit their growth objectives, the marketing sector is experiencing a surge in demand for first-rate candidates who can guide them through their on line marketing campaigns. The role of marketing manager has changed considerably over the past 5 years and the need for niche professionals, who can cope with the technological, creative and statistical aspects of the job, has risen as a result.
Health Care
Shortages of doctors and nursing staff continue, and coupled with an ageing population, the healthcare industry is under stress. The number of jobs in this sector rose by 3.6% in the years 2011-2014 (CareerBuilder). Continued pressure means that sustainable staffing solutions will remain an issue.
As evident from the statistics above, effective recruitment solutions will become increasingly significant over the coming years. Mobilisation means that more workers than ever are using their devices to job search, so both financially and technologically this is a great time to exploit a rapid growth industry by setting up your own recruitment business. Initiate8 are here to help you do this. As a new business incubator, we help with every aspect of launching your business and provide ongoing support with no upfront fees. Contact us now and let’s talk about how we can help you realise your dream of being a business owner.
