Recruitment industry’s turnover reached £38.9 billion last year

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£33.4 billion was generated through temporary/contract placement activity, while £5.5 billion was achieved through permanent placements.

Latest data has shown that recruiters made more than a million permanent placements in the year to March 2019 and on any given day the industry put over 1.1 million people in temporary and contract roles.

The REC’s annual Recruitment Industry Trends report for 2018/19 shows that the industry’s turnover reached £38.9 billion.

The number of recruitment businesses and people working in recruitment also grew; in March 2019 there were 31,140 firms in the industry, up 2% from the previous year. The total number of staff rose by 3% to 119,000 people, approximately the population of Colchester.

During this time a significant proportion, up to 82%, of UK employers who use recruitment agencies were satisfied with the service they got. Similarly, many hirers, up to 83%, were satisfied with the candidates coming through the agencies they work with.

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Neil Carberry, Chief Executive of the Recruitment and Employment Confederation, said, “With skills shortages and economic uncertainty dominating the agenda in 2019, many firms reported that client confidence was an issue – so making progress was that little bit harder. With that in mind, it’s testament to the great work recruiters put in that industry turnover reached £38.9 billion. The industry’s progress is good news for the whole economy because good recruitment underpins growth and productivity for clients and opportunity for candidates.

“As we go into 2020, things aren’t getting any easier. There are big legislative changes on the horizon, as well as the next stage of Brexit. What will IR35, the Good Work Plan, an ageing workforce, automation, or decarbonisation mean for the labour market and recruitment? The REC will be by the sector’s side as it faces up to and navigates these changing times.”

To find out more about contracting please contact Jaime on 01442 795 100 or email jaime.thorpe@dolanaccountancy.com

Why Dolan Accountancy?

Dolan Accountancy was set up by Simon J Dolan, the man behind the well-known brand SJD Accountancy. With over 25 years experience in the contracting marketing, Dolan Accountancy has the heritage, reputation and credibility you can trust. Working closely with our sister company, Contractor Umbrella, it means we can offer one low cost, fixed fee package at £95 + VAT per month. This gives you the flexibility of using both our Limited Company Accountancy Services and our award winning Umbrella Service, for one inclusive cost. We don’t believe in tiered packages or hidden extra fees, instead we aim to give you everything you need, including:

  • Free Company Formation – This is where it all begins. Once you have decided on an available name, we will form your company free of charge (if using our accountancy services) and it will be ready for you to use in as little as three hours.
  • Free use of Contractor Umbrella – With changes in Public Sector IR35 Legislation we understand that sometimes you are required to contract via an umbrella company. We will keep your limited company ticking over, while you work margin free via our sister company, Contractor Umbrella.
  • A Dedicated Accountant – Your accountant will be there for any company or personal tax advice that you require. We will never outsource work, even to internal teams.
  • Free Access to FreeAgent – The founder behind the multi award winning FreeAgent platform was one of Simon’s first clients, therefore it only seems fitting that we offer all of our clients access to FreeAgent, free of charge.
  • Free Business Banking – We have decided to waive our commission so our clients can use Tide free of charge for the first year.
  • Unlimited IR35 Status Reviews – We will review all of your contracts for IR35 purposes and provide you with our professional opinion as to its status.
  • Free Registered and Director’s Service Office Address – Sometimes you just don’t want your home address on display at Companies House. When you sign up to our accountancy services, we will offer the use of our address as an alternative.
  • Your Business and Personal Taxation Needs – This includes Company Accounts, Director’s Personal Tax Return, VAT Returns, Payroll, Corporation Tax and Dividend advice, to name just a few.
  • Same day payments- We offer same day payments as standard providing funds are received into our account by 9am, for no additional fee.

If you’d like to find out more about how Dolan Accountancy can help you and your business, please give us a call on 01442 795100 or email sophie.lewis@dolanaccountancy.com or jaime.thorpe@dolanaccountancy.com.

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