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Recruitment Agencies (Permanent) Market Report 2009
Published on February 2009

                                                                                                               Report Summary

This Key Note Market Report examines the UK permanent recruitment market, including companies that engage in both general and
executive permanent appointments. The report comes at a particularly difficult time for the recruitment industry as, in response to the
economic downturn that began in the last quarter of 2007, many companies have made staff cutbacks and frozen their recruitment
plans. In November 2008, the online jobsite Monster.co.uk reported that employers were forecasting a bleak outlook for the first
quarter of 2009, claiming it would be the weakest January to March period in terms of staff hiring for 15 years (since the end of the
last recession in the early 1990s).


According to the Recruitment and Employment Confederation (REC), the UK permanent recruitment market was worth £4.28bn in the
year ending March 2008, and the number of permanent placements stood at nearly 727,000. The market was very strong in 2007, but
began to falter after February 2008 as the outlook for the economy became increasingly uncertain. In the last quarter of 2008, the
market contracted each month, and the drop in staffing needs had a negative impact on almost every sector of the economy, with
financial services, construction, property, retailing and secretarial/administrative jobs being the worst-affected industries.


The major firms operating in the permanent recruitment market include: Adecco UK Ltd; Alexander Mann Group Ltd; Hudson Global
Resources Ltd; Impellam Group PLC; Matchtech Group PLC; Michael Page International PLC; Modis International Ltd; Morson Group
PLC; NES Group Ltd; Robert Walters PLC; Rullion Ltd; Spring Group PLC; and SThree PLC.


A large amount of corporate activity took place in 2008. For example, Adecco made a bid to buy Michael Page ' this was not
successful, but the company may come back and make a hostile bid in 2009, or it may well seek to buy another high-margin specialist
recruiter. In addition, Carlisle Group and Corporate Services Group merged in 2008 to form Impellam Group PLC. More mergers and
acquisitions are expected in 2009 as margins and profits in this industry are weakening, which will threaten hundreds of recruitment
firms.


One positive message for the recruitment industry can be drawn from the results of a 2008 survey conducted by the Chartered
Institute of Personnel and Development (CIPD), which revealed that a higher percentage of employers were using recruitment firms
than was the case in its 2007 survey. The use of executive search firms had also increased, according to the survey.


Key Note forecasts that the value of the UK permanent recruitment market will fall by 7% in 2009, but will begin to recover in 2010
and 2011. Returning the economy to full prosperity will take time after the recession comes to an end, and meanwhile the recruitment
industry is likely to undergo a period of restructuring.




                                                                                                                Table of Content




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Executive Summary


1. Market Definition


REPORT COVERAGE


MARKET SECTORS


MARKET TRENDS




The Weakening Market


Falling Salaries


Some Shortages Still Remain


Lowered Fee Rates


Online Recruitment Continues to Expand


ECONOMIC TRENDS




Population




Table 1: UK Resident Population Estimates by Sex (000), Mid Years 2003-2007


Gross Domestic Product




Table 2: UK Gross Domestic Product at Current and Annual Chain-Linked Prices (£m),


2003-2007


Inflation




Table 3: UK Rate of Inflation (%), 2003-2007


Unemployment




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Table 4: Actual Number of Unemployed Persons in the UK (million), 2003-2007


MARKET POSITION




Table 5: The Permanent Staff Recruitment Market Within the Overall Recruitment Market by Turnover (£bn and %), Years Ending
March 2000-2008


2. Market Size


THE TOTAL MARKET




By Value




Table 6: The Total UK Permanent Staff Recruitment Market by Turnover (£bn), Years Ending March 2003-2008


Figure 1: The Total UK Permanent Staff Recruitment Market by Turnover (£bn), Years Ending March 2003-2008


By Volume




Table 7: Number of Permanent Staff Placements, Years Ending March 2003-2008


Figure 2: Number of Permanent Staff Placements, (000), Years Ending March 2003-2008


BY MARKET SECTOR




Computing/IT


Construction


Driving


Education


Financial


Hotel/Catering


Industrial/Blue Collar


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Nursing/Other Medical


Professional/Managerial


Recruitment to Recruitment


Secretarial/Clerical


Technical/Engineering


3. Industry Background


RECENT HISTORY


NUMBER OF COMPANIES




Table 8: Number of UK VAT- and/or PAYE-Based Enterprises Engaged in Labour Recruitment and the Provision of Personnel by
Turnover Sizeband (£000), 2004-2008


EMPLOYMENT




Table 9: Number of UK VAT- and/or PAYE-Based Enterprises Engaged in Labour Recruitment and the Provision of Personnel by
Employment Sizeband, 2004-2008


REGIONAL VARIATIONS IN THE MARKETPLACE


HOW ROBUST IS THE MARKET'


LEGISLATION


KEY TRADE ASSOCIATIONS




The Association of Executive Search Consultants


Association of Professional Staffing Companies


Recruitment and Employment Confederation


4. Competitor Analysis


THE MARKETPLACE




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General Permanent Recruitment


Executive Recruitment


MARKET LEADERS




Table 10: Selected Leading UK Recruitment Companies in the Permanent Recruitment Market by Total Turnover Including
Temporary Recruitment Revenue and Non-Recruitment Revenue (£m), Latest Financial Results


Impellam Group PLC


Michael Page International PLC


Adecco UK Ltd


SThree PLC


Spring Group PLC


Morson Group PLC


Alexander Mann Group Ltd


Robert Walters PLC


Matchtech Group PLC


Rullion Ltd


NES Group Ltd


Hudson Global Resources Ltd


Modis International Ltd


MARKETING ACTIVITY




Table 11: Main Media Advertising Expenditure of the UK Recruitment Industry (£000), Years Ending September 2007 and 2008


EXHIBITIONS


5. Strengths, Weaknesses, Opportunities and Threats


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STRENGTHS


WEAKNESSES


OPPORTUNITIES


THREATS


6. Buying Behaviour


REASONS FOR USING RECRUITMENT AGENCIES




Executive Search


CONCLUSION


7. Current Issues


MARKET CONDITIONS


EXECUTIVE SEARCH


CORPORATE ACTIVITY


RECRUITMENT AND RETENTION TRENDS


MANAGED SERVICE COMPANIES


8. The Global Market


THE LARGEST MARKETS ' THE US AND THE UK




Table 12: The World's Five Largest Recruitment Markets by Value ($bn), 2005-2008


Table 13: The Top Five Executive Search Firms Worldwide by Revenue ($m), 2007


9. Forecasts


INTRODUCTION




The Economy




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Population




Table 14: Forecast UK Resident Population by Sex (000), Mid-Years 2008-2012


Gross Domestic Product




Table 15: Forecast UK Growth in Gross Domestic Product in Real Terms (%), 2008-2012


Inflation




Table 16: Forecast UK Rate of Inflation (%), 2008-2012


Unemployment




Table 17: Forecast Actual Number of Unemployed Persons in the UK (million), 2008-2012


FORECASTS 2009 TO 2013




Table 18: The Forecast UK Permanent Recruitment Market by Value (£bn), Years Ending March 2009-2013


MARKET GROWTH




Figure 3: Growth in the Total UK Permanent Recruitment Market by Value (£bn), Years Ending March 2003-2013


FUTURE TRENDS


10. Company Profiles


ADECCO UK LTD


ALEXANDER MANN GROUP LTD


MATCHTECH GROUP PLC




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MICHAEL PAGE INTERNATIONAL PLC


MORSON GROUP PLC


NES GROUP LTD




ROBERT WALTERS PLC


RULLION LTD


SPRING GROUP PLC


STHREE PLC


11. Further Sources




Associations


Publications


General Sources


Government Sources


Other Sources


Key Note Sources


Key Note Research


The Key Note Range of Reports




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