New REC report points to positivity

New REC report points to positivity
Thursday, February 18, 2021

Industry Trade Association the REC (Recruitment & Employment Confederation) have published a new report today, revealing some interesting findings about the recruitment sector and our significant contribution to the economy. The report was compiled as they wanted to look at the socio-economic impact of recruitment and how our industry sector could support the UK' economic recovery – the results of the report are fascinating!

Below are some of the key findings.

  • Every 21 seconds someone finds a new permanent role through a recruitment agency.
  • Every year, over 300,000 unemployed people use a recruiter to find a permanent job, more than twice as many as those who go through the Job Centre.
  • Two thirds (63%) of businesses that work with a recruitment agency say it helped them increase the diversity of new recruits.
  • The jobs matched by recruiters support £29 billion in annual tax revenues, more than double the Government’s R&D budget.
  • The recruitment industry increases UK productivity by £7.7 billion every year by improving the quality of job matching, putting the right person into the right job.
  • One in five (19%) companies that use temporary workers say that they would not be able to operate at all without them, meaning that temporary recruitment agencies directly enable 3% of the economy, worth £61 billion in GDP

To read the full report, please visit the REC's website at: www.rec.uk.com/recruitmentrecovery