The recruitment industry is worth a whopping $12 billion in Australia, IBISWorld data shows. If you want to carve out a chunk of that revenue, your agency must stay ahead of the 7,000-plus recruitment businesses you’re competing against by adapting to emerging trends and providing the best possible service.
With the right knowledge you can do just that. We’ve compiled the findings of Australia and the world’s foremost recruitment research to help you fully understand the state of Australian talent acquisition in 2018.
Recruitment budgets are flat – targeted investment is key
Despite impressive growth in the sector, the majority of recruiting budgets are expected to remain flat this year, according to LinkedIn’s Australian Recruiting Trends report. This means that the best avenue for improvement won’t be more spending, but focusing investment on the things that really make a difference.
Interestingly, the LinkedIn report also showed that improving branding, technology and CRM tools would be the priority if money weren’t an issue. Recruiters view these goals as important but expensive and difficult. This isn’t necessarily the case.
A strong brand is the most effective tool for increasing the efficiency and effectiveness of your recruitment.
If these tasks are tackled separately by investing in different platforms the process won’t be cheap or easy. Instead recruiters should use end-to-end recruit, time, pay, bill software that can help you manage your client relationships, brand all your communications, and streamline your administration.
By focusing your investment on one platform that does it all, you’ll spend less and see a return on investment sooner.
Brand messaging is increasingly important
A successful brand amalgamates a company’s values and goals into a consistent message and a cohesive image. Recent research by industry leaders has found that a strong brand is the most effective tool for increasing the efficiency and effectiveness of your recruitment efforts.
The most popular ways to advertise recruitment company brands are:
- Company website,
- Third party websites or job boards,
It’s essential that your brand’s image and messaging is consistent across all these platforms and more. That includes all contact with potential hires, client portals on your website and all other touch points that your business has with the outside world.
The more recognisable and consistent your brand is, the more likely you’ll be able to attract top talent or new clients.
Recruiters will use data to aid decision making
The future of the Australian recruitment industry lies in understanding clients, identifying high quality talent, then fulfilling roles based on a thorough understanding of both parties. Taking the time to gain insight and build relationships with the people you’re dealing with is essential to doing this well.
Unfortunately, recruitment has become increasingly transactional and repetitive due to the volume of hires most businesses handle. This means people often aren’t the priority. Data and smart software is the key to regaining the ability to understand people and create more of those high value interactions.
Solutions that automate or streamline time-consuming tasks such as payroll allow you to spend more time interviewing high quality candidates or gaining an insight into your client’s needs. If you use one smart system the data it gathers can also help you gain more insight into the way your business works, so that you can trim the fat and continue focusing on high value tasks.
Bring your company into the future you need with FastTrack360, Australia’s only truly end-to-end recruitment software. Get in touch or request a demo today to find out more.