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  • One in five recruiters to go out of business, predicts Hays’ Finance Director

    One in five recruiters will go to the wall in the next two years, according to UK recruiter Hays’ finance director Paul Venables. Speaking after Hays released its latest interim management statement, Venables said: “My expectation is that we will see 20% of companies disappear in the next two years.” Venables continued: “In the perm market there are more than 10,000 registered companies in the UK, and including those who are not registered that is a massive amount of companies, and a lot of those small one will really be hurting now. If you are in a niche area or in perm market place you are  going to struggle.” Recruiterblog has heard from many sources that it is the bigger players trying to work in multiple sectors that are struggling, not the niche players unless that niche happens to be banking or construction.  He know of 2 IT recruiters who had built up a team of 8 games consultants between them where now only 1 consultant remains.  And not for much longer!  Companies still hiring need to remember the flight to quality when times are hard.

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