In order to better understand the value created by the recruitment industry, REC commissioned independent consultancy Public First to measure the industry’s economic and social impact. Using a combination of new modelling, research and extensive polling of workers and businesses, we sought to better understand the impact of good recruitment.
The industry directly employs 119,000 people and helps over a million other workers find a job each year in companies across the UK. Covid-19 has had a significant short-term impact on all of us - but the wider changes in flexible work and diversity look only to increase the importance of good recruitment in the future. Our study shines a light on three core themes:
- Recruitment is a major driver of UK productivity
- Giving workers new opportunities and supporting a more inclusive labour market
- The recruitment industry can help accelerate the recovery.
▶︎ The recruitment industry can help accelerate the recovery. Throughout the pandemic, the #recruitment industry has helped keep vital services running. Looking forward, the industry is likely to play a key role in helping displaced workers find new jobs, helping companies adapt to shifts such as the rise of remote working, and helping build a more diverse and inclusive #labourmarket.
▶︎ The #recruitment industry plays an important role in social mobility, helping people find new jobs and build their careers. Every year, over 300,000 people use the recruitment industry to leave unemployment for a permanent role.
▶︎ Alongside its significant direct impact, the recruitment industry also helps create better matches between workers and companies, boosting UK productivity by £7.7 billion per year.
▶︎ FACT: The #recruitment industry directly employs119,000 people and helps over a million other workers find a job each year in companies across the UK. #Recruiters make it easier for businesses to find people they need.
▶︎ View the full report rec.uk.com/recruitmentrecovery