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24 companies out of 100 are recruitment agencies
8th December 2008
What does it say about the UK economy when nearly a quarter
of the 100 fastest growing companies in the UK (24%) are recruitment agencies? Published on Sunday 7th December the Sunday Times Fast Track 100 listings are always interesting reading, but I was amazed to see so many recruitment companies, all less than 3 years old on average, in the listing, OK this top 100 does not include Technology companies but if I were in recruitment I would be pretty worried about the future.
I think it also says a lot about the power recruitment agency have had in booming economy but also how much it appears we will pay for the best people. In past recessions recruitment agencies have suffered badly like any service industry directly linked to growth.
So I think recruitment is up for a big change. Online recruitment still makes the employee pay big time but perhaps a leveling of the playing field will start happening now the market will be a lot more fluid.
Corporate Social networking is going to be the killer application which will change the recruitment landscape forever and a new online model which 'levels the playing field' by using a Google style 'adsense' engine for people, jobs and ranks them by keywords, back linking and verification of information will be the next innovation. It just needs a big leap of faith from outside the industry and I think it should come from the Government.
Linkedin is already doing a good job in this area but a pure play solution is needed.
So email me stuart@greenfield.co.uk if you want to join the team that builds the first real alternative to recruitment agencies.
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