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.  

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Recruitment Agencies (Permanent)- 2009 Edition
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
Executive Summary 1. Market Definition REPORT COVERAGEMARKET SECTORSMARKET TRENDSThe Weakening
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MarketFalling Salaries Some Shortages Still RemainLowered Fee Rates Online Recruitment Continues to ExpandECONOMIC
TRENDSPopulationTable 1: UK Resident Population Estimates by Sex (000), Mid Years 2003-2007Gross Domestic Product Table 2:
UK Gross Domestic Product at Current and Annual Chain-Linked Prices (£m),2003-2007InflationTable 3: UK Rate of Inflation
(%), 2003-2007UnemploymentTable 4: Actual Number of Unemployed Persons in the UK (million), 2003-2007MARKET
POSITIONTable 5: The Permanent Staff Recruitment Market Within the Overall Recruitment Market by Turnover (£bn and %),
Years Ending March 2000-20082. Market Size THE TOTAL MARKETBy ValueTable 6: The Total UK Permanent Staff Recruitment
Market by Turnover (£bn), Years Ending March 2003-2008Figure 1: The Total UK Permanent Staff Recruitment Market by
Turnover (£bn), Years Ending March 2003-2008By VolumeTable 7: Number of Permanent Staff Placements, Years Ending
March 2003-2008Figure 2: Number of Permanent Staff Placements, (000), Years Ending March 2003-2008BY MARKET
SECTORComputing/ITConstructionDriving EducationFinancial Hotel/CateringIndustrial/Blue Collar Nursing/Other
MedicalProfessional/ManagerialRecruitment to RecruitmentSecretarial/ClericalTechnical/Engineering3. Industry Background
RECENT HISTORYNUMBER OF COMPANIESTable 8: Number of UK VAT- and/or PAYE-Based Enterprises Engaged in Labour
Recruitment and the Provision of Personnel by Turnover Sizeband (£000), 2004-2008EMPLOYMENTTable 9: Number of UK
VAT- and/or PAYE-Based Enterprises Engaged in Labour Recruitment and the Provision of Personnel by Employment Sizeband,
2004-2008REGIONAL VARIATIONS IN THE MARKETPLACEHOW ROBUST IS THE MARKET'LEGISLATIONKEY TRADE
ASSOCIATIONSThe Association of Executive Search ConsultantsAssociation of Professional Staffing Companies Recruitment and
Employment Confederation 4. Competitor Analysis THE MARKETPLACEGeneral Permanent RecruitmentExecutive
RecruitmentMARKET LEADERSTable 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 PLCMichael Page International PLCAdecco UK LtdSThree PLCSpring Group PLCMorson Group PLCAlexander
Mann Group LtdRobert Walters PLCMatchtech Group PLCRullion LtdNES Group LtdHudson Global Resources LtdModis
International LtdMARKETING ACTIVITYTable 11: Main Media Advertising Expenditure of the UK Recruitment Industry (£000),
Years Ending September 2007 and 2008EXHIBITIONS5. Strengths, Weaknesses, Opportunities and Threats
STRENGTHSWEAKNESSESOPPORTUNITIES THREATS 6. Buying Behaviour REASONS FOR USING RECRUITMENT
AGENCIES Executive SearchCONCLUSION 7. Current Issues MARKET CONDITIONSEXECUTIVE SEARCHCORPORATE
ACTIVITYRECRUITMENT AND RETENTION TRENDSMANAGED SERVICE COMPANIES8. The Global Market THE LARGEST
MARKETS — THE US AND THE UKTable 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), 20079. Forecasts INTRODUCTIONThe
Economy Population Table 14: Forecast UK Resident Population by Sex (000), Mid-Years 2008-2012Gross Domestic Product Table
15: Forecast UK Growth in Gross Domestic Product in Real Terms (%), 2008-2012Inflation Table 16: Forecast UK Rate of Inflation
(%), 2008-2012Unemployment Table 17: Forecast Actual Number of Unemployed Persons in the UK (million),
2008-2012FORECASTS 2009 TO 2013Table 18: The Forecast UK Permanent Recruitment Market by Value (£bn), Years
Ending March 2009-2013MARKET GROWTHFigure 3: Growth in the Total UK Permanent Recruitment Market by Value (£bn),
Years Ending March 2003-2013FUTURE TRENDS10. Company Profiles ADECCO UK LTDALEXANDER MANN GROUP
LTDMATCHTECH GROUP PLCMICHAEL PAGE INTERNATIONAL PLCMORSON GROUP PLCNES GROUP LTDROBERT
WALTERS PLCRULLION LTDSPRING GROUP PLCSTHREE PLC11. Further Sources Associations Publications General
SourcesGovernment SourcesOther Sources Key Note SourcesKey Note Research The Key Note Range of Reports
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