Recruitment Watch - May 2010
Welcome to the May 2010 edition of Mishcon de Reya's Recruitment Watch, prepared by the Firm's Recruitment Services Group. Its aim is to provide those involved in the recruitment sector with a snapshot of what has been happening in the world of recruitment in the last month.
News
Policy
The Association of Recruitment Consultancies will not pursue a judicial review of certain parts of the Agency Workers Regulations because of the 3-month timescale to make the case.
Recruitment Consultant, May 2010
Market
A study by the Institute for Public Policy Research has found that the number of people working part-time in the UK because they cannot find full-time work has now exceeded 1m.
Chris Tighe, Financial Times, 12 May 2010
According to research from Astbury Marsden, a financial services recruitment company, the average number of qualified candidates for each new City vacancy has fallen from 5.7 a year ago to 2.7 in March 2010.
Brian Groom, Financial Times, 4 May 2010
Trends / Practice
Manpower has said that employers will retain the flexible working practices introduced during the recession even when the job market improves and demand for services increases.
Gill Plimmer, Financial Times, 10 May 2010
Begbies Traynor’s latest Red Flag update has shown that 1,725 recruitment companies suffered significant or critical financial problems in the first quarter of 2010, a rise of 18% compared to the previous quarter.
Recruitment Consultant, May 2010
Industry analysts Plimsoll have said that almost two-thirds of the top 1,000 recruitment companies are worth less that last year whilst 359 companies have lost more than a third of their value.
Recruitment Consultant, May 2010
Plimsoll have said that 400 of the top 1,000 recruitment companies are showing 10% growth per year but 77 companies have seen their margins crash.
Recruitment Consultant, April 2010
Companies
Adecco has reinforced its prediction that employment conditions will improve across almost every market and sector after reporting a sharp rise in quarterly earnings.
Haig Simonian, Financial Times, 7 May 2010
Hays has reported a 10% like-for-like fall in net fees for the first quarter of 2010 compared with the same period in 2009.
Recruitment Consultant, April 2010
StepStone has agreed to sell its Solutions talent management software division to HgCapital for €110m.
Recruitment Consultant, April 2010
Mishcon de Reya
Mishcon de Reya's Recruitment Watch is published by the Recruitment Services Group of Mishcon de Reya Solicitors who were established to meet the demands of their clients within the recruitment sector. The Group is made up of cross departmental specialist lawyers who are able to meet the diverse legal needs of the recruitment industry, with wide and varied experience within the sector and who have a proven track record in being able to meet the growing demand for a one-stop service amongst their recruitment clients.