Hot off the acquisition of TextRecruit by iCIMS, a new recruiting trends report from Bullhorn supports the strength of text messaging to communicate with job seekers over email and phone calls. Of the staffing professionals surveyed by the CRM and operations software solutions provider, 69 percent of firms expecting their usage to increase, especially communicating with millennial and Generation Z candidates.
This tidbit of information was just part of a larger report entitled North American Staffing & Recruiting Trends Report, the company’s eighth-annual survey hoping to shed a light on where recruiting is going in the coming year. In addition to the growing importance of text messaging to reach a younger demographic, Bullhorn tackled a bevy of topics, including the impact of automation on recruiting, the current level of confidence in light of political and macroeconomic pressure, and the rise of digital hiring platforms like Upwork and Shiftgig.
“The year 2018 holds tremendous opportunities for North American staffing and recruiting firms as they look to continue growing their businesses during a period of relatively strong economic growth,” said Gordon Burnes, Bullhorn’s chief marketing officer. “While there are long-term strategic decisions to be made, especially around automation and digital staffing platforms, adoption of these new technologies has been relatively slow, and staffing firms should feel encouraged about the industry outlook for 2018 and prepare for another successful year.”
Perhaps most notable, however, is that fact that 75 percent of staffing and recruiting firms anticipate revenue increases in 2018. Additionally, Bullhorn found a majority of staffing firms expected increases in hiring needs (70 percent), billable hours (62 percent), and temporary placements (59 percent) for next year.
This contradicts some of the findings around confidence levels, however, as 68 percent of respondents said they were “very or somewhat concerned” about the rate of economic growth. Additionally, many polled worried about healthcare policies and regulations (66 percent), inflation (59 percent), restrictive labor policies (57 percent), and the current administration (57 percent). Overall confidence levels for industry performance have slipped, with one-third of respondents (33 percent) feeling more confident about the future heading into 2018, compared to 38 percent last year.
Sticking with the negative, roughly 55 percent of staffing firms predicted that both bill rates and margins would stay flat or decrease in 2018, and about half of respondents ranked pricing pressures and margin compressions as a top three challenge.
Other key findings include the following:
While interesting, the information revealed in the Bullhorn report is neither surprising or groundbreaking. The numbers and predictions remain in line with other such surveys; however, getting confirmation of pre-existing research is never a bad thing. Overall, the report showed that the industry remains optimistic going into 2018, just like 2017, despite increasing concerns and emerging challenges related to the issues outlined above.
Bullhorn’s eighth annual North American Staffing & Recruiting Trends Report is the result of a global survey conducted among 1,442 staffing and recruiting professionals from September 17, 2017 to October 7, 2017. The findings spotlight the industry’s take on the current staffing landscape — from financial forecasts and top priorities to persistent challenges and emerging technologies.
