Plimsoll Recruitment Industry Report

The recruiter.co.uk identifies that the latest report into the UK recruitment agency market from industry analysts Plimsoll rates 155 of the UK’s leading 1,000 recruitment firms as being in financial danger.

The report shows:

• 82 increased their debts last year
• 122 saw profits fall last year
• 101 are losing money
• 85 managed to increase sales last year
• 63 so-called “well-established” firms are failing to adapt to the modern agency market and are now failing behind the result of the market.

“It is clear that many of these 155 ‘danger’ businesses are fundamentally poor, aggressive or disruptive and are unhelpful to the market,” a Plimsoll statement said.

“The reality is, for many of these 155 danger businesses, their problems go back year, certainly long before the current UK slowdown, yet they have failed to fix their problems…Our analysis is clear, not all of these 155 businesses will survive. Of those who do, very few will be in their current shape and many will be in the hands of new owners.”