REC ‘getting stronger’ as recovery boosts recruitment industry, says Smith
Fri, 20 Jun 2014
The Recruitment & Employment Confederation (REC) is continuing to strengthen its position representing the industry, chairman Neil Smith says in its 2013 Impact Statement.
With the UK recruitment industry market forecast to surpass the pre-recession peak of £27bn by the end of 2013/14, many REC members have reported significant growth as the UK economy as a whole has grown for five consecutive quarters.
Smith reports an 8% increase in employer/client awareness of the REC and a 3.5% increase in marketshare of recruitment businesses in REC membership.
With a surplus of £188,744 in 2013 compared with £53,868 for 2012, the REC is benefiting from the recovery mood. Turnover was £6,024,589 in 2013, down slightly on 2012’s £6,130,852.
Membership renewal rates have exceeded target and the confederation now has 3,349 corporate members (458 of them new) and 5,759 individual members. The statement says: “We anticipate achieving above budget income from this, our major income stream.”
With a trading update showing that training products are selling at 30% above 2013 levels while costs remain under control, the REC says: “Our forecast is that we will again deliver the budgeted surplus (£184k) in 2014.”