I, along with the MDs of most of the UK’s top recruitment marketing agencies, attended a very strenuous RBI Summit for two days last week at Ashford Castle, County Mayo, Ireland. It was pretty tough as you can imagine but in between the socialising, we did receive a detailed analysis of the UK economy over the past three decades or so and, if things carry on as they are, warnings about just how nasty the impending downturn might be, particularly for companies like us who rely on our clients recruiting people! Every time in the past there’s been the merest sniff of a slow down, everyone stops spending and goes in to hibernation. And agencies like us catch a cold.
So, interesting that the UK’s recruitment marketing sector is still so strong. Like many other agencies, we’ve actually had a very good 2008 so far and, whilst there are bound to be clouds ahead - we’re pessimistic by nature - it seems that organisations across the board are defying the doom-mongers and continuing to recruit come what may. Certainly the Association of Graduate Recruiters, for example, are reporting significant growth for the foreseeable future. And 75% of recruitment marketing agencies are predicting growth at least until the end of the year.
As the RBI’s Economist kindly said, either we know something the Chancellor doesn’t, or we’re just rubbish at forecasting. Time will tell!