The UK job market is booming! In the first quarter of 2018 alone, vacancies rose by 11.8%, according to CV-library data – and application rates increased by an impressive 27%.
This is great news for recruitment agencies; provided you are in the right place at the right time. For, while these positive headlines tell the national story, some areas of the country are experiencing a bigger job surge than others right now.
So where does your recruitment business need to be, in order to feel the full benefit of the job market boom? Let’s look at some of the top trends impacting UK employment prospects…
High-density population areas are always going to need employees, and because of this, London brings in a lot of business for recruiters. However, because of its high cost of living and difficulty getting on the property ladder, many people are turning their backs on our capital city in favour of places with a better financial work-life balance.
For example, Leeds, Milton Keynes, Nottingham and Reading are proving to be fruitful areas for recruitment agencies, due to the high volume of companies in these cities looking for new talent. At the same time, potential employees are happy to move to these parts of the country because their hard-earned income goes further than in London, and affords them a better quality of life.
If you’re looking at locations to set up as a recruiter, it pays to research what the major UK growth industries are at present, and which parts of the country are emerging as hubs for these sectors.
For instance, the UK tech market is continuing to experience significant growth, and this is leading to several major cities becoming technology recruitment hot spots. Cambridge was recently declared the best city in which to work by a major recruitment company because of its reputation for growing great tech companies. In fact, more than 4,000 technology firms are now based in this famous university-city.
In addition to seeking out sectors that are on the up, it never hurts to keep an eye out for areas of major regeneration investment, as they can often indicate a potential business opportunity.
The last couple of years have seen parts of Manchester undergo a complete makeover, for example, with huge projects bringing big corporations – including the BBC – to Salford Quays and the Northern Quarter. Meanwhile, more than £75 million is being spent on Bradford town centre, to attract ‘urban entrepreneurs’ to the neighbourhood.
Other parts of the UK set to benefit from significant regeneration investment over the next 12 months include Glasgow, Lincolnshire and West Yorkshire. Therefore it may pay off for recruiters to keep abreast of developments happening in these regions!
Wherever you are looking at launching or expanding your recruitment business, finding the right location is just half the battle won. The most successful agencies combine good local prospects and knowledge with an efficient set-up, so that you don’t waste time and money on everyday back-office tasks.
ETZ can help your business to grow, by enabling you to focus on winning new clients in your local area – not filing paperwork. We take the time out of timesheets and the pain out of payments, and our software can reduce your back-office costs by up to 85%.
To find out how ETZ can help your recruitment agency run more efficiently, book your free demo.
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