I have spent quite a lot of time talking, thinking, tweeting and debating on this subject. Increasingly i'm becoming convinced that the future of recruitment is relational rather than transactional. I don't think it is about inventing a new way of working, rather a return to the way we were before computers took over. During the last 10 years or so, speed in the process and volume has taken over from quality of the service. Both the clients and candidates have driven the process this way.
The recession has changed the landscape with hiring companies demanding that recruiters actually earn their money through service and candidates are demanding real advice and help in their job search. Decision making is taking twice as long on average, with both clients and candidates needing a lot more influencing in the process and a lot more interaction to make it happen.
Hiring companies are now demanding to see value from their suppliers or asking for significant discounts. The modern day recruiter will need to be transparent in the process or risk losing out.

Top 4 future trends:
1: The Recruiter that owns the talent pool will own the market. The candidate will come before the job.
2: Greater emphasis on relationship and consultancy over transaction.
3: Closer, more pro-active relationships with less clients and candidates.
4: greater collaboration with HR to plan future recruiting.

Just my thinking,

Bill