Recruiters predict revenue increases and aggressive growth for firms: study

Recruiters predict revenue increases and aggressive growth for firms: study

Finds one of the biggest drivers for this business growth is recruitment technology

Recruiters in Asia-Pacific are expected to achieve aggressive growth in 2012 despite global uncertainty and the threat of the European crisis, according to Web-based recruitment software developer, Bullhorn.

In its 2012 Staffing and Recruiting Trend Report, it highlighted that 93 per cent of the recruiters expect more revenue in 2012, with specialist firms best placed to achieve growth in skills-short markets.

The report surveyed over 548 recruitment firms worldwide – including 85 within Asia-Pacific.

“In booming sectors, such as mining and IT, a niche understanding of the market is driving success for recruiters. It is also providing an opportunity for a new generation of recruiters; with professionals from industries such as mining, IT and law crossing over into recruitment,” Bullhorn Asia-Pacific sales director, Ben Fuller, said.

According to Fuller, one of the biggest drivers for this business growth is recruitment technology and social media.

However, recruitment firms in Asia-Pacific lag behind their North American counterparts when it comes to sourcing candidates through social media.

The survey showed 77 per cent of Asia-Pacific firms successfully placed candidates sourced via LinkedIn, 15 per cent via Facebook and nine per cent via Twitter. In comparison, 87 per cent of North American recruiters placed candidates sourced via LinkedIn, 17 per cent via Facebook and 11 per cent via Twitter.

It also reported that some Asia-Pacific recruiters are still unsure of the value of social media. 38 per cent rate its effectiveness in sourcing candidates as ‘neutral’ and 33 per cent said its most challenging aspect is that it cannot be measured.

“The point of social media is that it is a two-way conversation. Clever recruiters are using social media platforms strategically; engaging with candidates and developing relationships,” Fuller stated.

He also added that many recruiters are now using social media to source candidates; However, he claimed that they should effective make use of social media platforms rather than simply using LinkedIn as a resume database.

Other statistics from the survey include:

  • 79 per cent of respondents said the top reported benefit of social recruiting is finding passive candidates
  • Other strategies to source new business are joining professional groups (57 per cent) and maintaining an online presence (39 per cent)
  • 38 per cent of firms agree that social networking is a critical client acquisition channel
  • Social media also has a positive impact on business, with 60 per cent citing the building of brand awareness as a significant benefit
  • The inability to measure results and effectiveness is the most difficult aspect of social media, according to 33 per cent of agencies, followed by the time it takes to use it, 26 per cent of respondents said.

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