Annual Trends Report Illustrates Overall Industry Optimism Despite Concerns about Automation, Digital Staffing Platforms, Macroeconomics, and Politics
BOSTON—JAN. 17, 2018—Bullhorn®, the cloud computing company that helps staffing and recruiting organizations transform their businesses, found that 75 percent of staffing and recruiting firms anticipated an increase in 2018 revenue versus 2017 revenue, according to its “2018 North American Staffing & Recruiting Trends Report: The In....” Overall, the report showed that staffing and recruiting professionals remained optimistic for a successful 2018, as they did for 2017, despite increasing concerns and emerging challenges related to automation, digital staffing platforms, macroeconomics, and politics.
Staffing firms identified their top three priorities for 2018 as increasing profitability (45 percent), driving top-line revenue growth (43 percent), and improving candidate sourcing (42 percent). Their next five priorities represented operational strategies. These included: improving the management of client relationships (27 percent), expanding into new markets (26 percent), automating and accelerating recruiting and placement processes (23 percent), engaging candidates and improving the candidate experience (23 percent), and increasing employment brand development and marketing (21 percent).
The survey also found that firms anticipated revenue growth with limited margin expansion for 2018. A majority of staffing firms expected increases in hiring needs (70 percent), billable hours (62 percent), and temporary placements (59 percent) in 2018. On the other hand, a majority of firms (about 55 percent) predicted that both bill rates and margins would stay flat or decrease in 2018, and about half of respondents (49 percent) ranked pricing pressures and margin compressions as a top three challenge.
Key findings include:
“The year 2018 holds tremendous opportunities for North American staffing and recruiting firms as they look to continue growing their businesses during a period of relatively strong economic growth,” said Gordon Burnes, Bullhorn’s chief marketing officer. “While there are long-term strategic decisions to be made, especially around automation and digital staffing platforms, adoption of these new technologies has been relatively slow, and staffing firms should feel encouraged about the industry outlook for 2018 and prepare for another successful year.”
Bullhorn’s eighth annual North American Staffing & Recruiting Trends Report is the result of a global survey conducted among 1,442 staffing and recruiting professionals from Sept. 17, 2017 to Oct. 7, 2017. The findings spotlight the industry’s take on the current staffing landscape—from financial forecasts and top priorities to persistent challenges and emerging technologies.
To download the “2018 North American Staffing & Recruiting Trends Report: The Industry’s Outlook for 2018” for free, visit here.
Bullhorn is the global leader in CRM and operations software for the recruitment industry. More than 7,000 staffing companies rely on Bullhorn’s cloud-based platform to drive sales, build relationships, and power their recruitment processes from end to end. Headquartered in Boston, with offices around the world, Bullhorn is founder-led and employs more than 650 people globally. To learn more, visit www.bullhorn.com or follow @Bullhorn on Twitter.