I have recently run Masterclasses with around 100 MDs, CEOs, business owners and managers of successful recruitment companies from all around the UK and there is no doubt that the boom is here.
So, what can you do?
This is a heat map of activity in the UK recruitment industry researched by APSCo, their trade Association.
It is by region across the top and industry sector down the side. Red indicates activity over 100% up in last year, orange 50-100% up and yellow up to 50%. Overall they say the job market is up 43% with property & construction the highest.
The recruitment companies were telling me that in many sectors now it’s already flipped from a Client led to a Candidate led market - and, of course, remuneration rates are rising as a result.
That’s the start of a boom.
If you then look at the Roland Berger Associates recent authoritative “2030 Global Trends Survey” which clearly flags that demand for people will exceed supply throughout that period and that we are entering a ‘war on talent’ then it must be time, like the recruitment industry is doing, for us all to change our mindset.
It’s not easy maybe after some years of recession and austerity thinking to do that - but do that we must. Not just to take advantage of the boom but to survive by having the right people in the right numbers.
It’s not just people of course - you need to flip your thinking right across your business:
- If demand goes up, say, 40% in the next six months can you handle it?
- Do you have the resources - people, capacity, inventory?
- Are you ready to increase your prices now? (and the best way is to just stop giving
discounts)
- How will you be realistic about giving promises on delivery - and never miss a promise?
- As a Business Leader it really is time for you to get in your helicopter and plan out all the
potential growth scenarios for your business - and mean it!
Roger Harrop the CEO Expert, is an Author, Mentor and Motivational Business Growth Speaker with a broad background including experience as a CEO of a FTSE Quoted Hi-tec industrial group.
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