Breaking down the recruitment market and preparing for the future

Agencies have never been more in demand and this has created a bumper year for most. I recently had a discussion with a recruitment leader who mentioned that the majority of her consultants were billing over $200,000 a year without doing any business development or client visits. Justin Falk, Managing Director of TalentVine writes.

We all know that this is unsustainable. A correction will come, demand will slow down and recruiters will find more of their time being put into new client acquisition. As we saw at the start of the pandemic, this creates a rush of new recruiters registering on TalentVine to supplement their deal flow. Agents who had done this before the pandemic could capitalise in a more competitive marketplace as their profiles stood out compared to the newer consultants on the platform. So, whilst we should certainly continue to make hay whilst the sun shines, we encourage recruitment leaders to start preparing for a shift in the market.

Working closely with these leaders has enabled us to continue evolving our product to make life easier and more profitable for recruitment agencies. Some new updates include the admin user dashboard allowing leaders to monitor how their team are benefiting from the platform, more of a focus on encouraging employers to work exclusively, some employers paying licence fees which result in agencies retaining 100% of the fee, and soon you’ll have the option to bid for retained work too.

We support employers recruiting across all industries and at market-agreed fees. Over the past 5 years, IT Recruitment has been the most popular industry and has steadily grown in demand.

From making up 16% of roles posted to TalentVine in 2018, requests for IT recruiters now take up 33% of the share on TalentVine in 2022. Construction and Engineering & Manufacturing talent are also in-demand, growing by 126% and 56% respectively. Over the past year, recruitment fees have also risen, by an average 15% increase for exclusive roles and 10% for non-exclusive. In a market like this, employers struggling to find candidates on their own are willing to pay more for recruitment support.

Whilst utilising TalentVine for additional deal flow is a good long-term move for recruiters, there’s also no better time to jump in to access new clients and roles that match some of the positions you’re currently helping other employers to fill. Registration is free and takes less than five minutes. We would love to welcome you to APAC’s leading recruitment marketplace.