HOPEFUL: Recruiting professionals believe that the economy will improve by the end of 2020

30% of recruiting professionals report that their business is doing better or similar to this time last year a new study reveals. 

Research which was conducted by cloud computing company Bullhorn has found that recruiting professionals are remaining optimistic about COVID-19’s economic impact. Only two per cent predict a sustained depression that extends past 2021, and more than half expect the economy to improve by the end of the year.

The news comes as Britain slowly begins to re-open its economy after a challenging and unprecedented three months. In April (when the country spent its first full month in lockdown) the economy shrank by 20.4% the largest monthly contraction on record. A dip which has plunged the UK into the worst financial recession in reportedly over three decades. 

Throughout this time 81% of recruiters said that reduction in job requests had been the biggest customer-related challenge. What’s more is that 55% cited increased difficulty in winning new customers, while 21% reported that clients were unable to make payments.

Staffing professionals are now beginning to move their priorities towards the remainder of 2020 and improving the management of client relationships remains a core focus.

Nearly 64% expect remote jobs to be more common post-COVID-19 and more than half expect contactless recruiting to become more prevalent. Agencies are responding to the new landscape by investing in and utilising recruitment technology such a video conferencing.

“The recruiting industry has always been brave and resilient the impact of COVID-19 has been profound, but as always, optimism and opportunity abound amidst challenges,” says Gordon Burnes, chief marketing officer at Bullhorn

He continues..

“While respondents expect permanent changes to the industry, such as the rise of remote jobs, staffing and recruiting is still fundamentally about people, and the top priorities for agencies improving client and candidate engagement demonstrate that the path to success is through relationships.”

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