As Reed.co.uk gets ready on 9 October to launch a new marketplace that will connect direct employers with specialist agencies within their areas, Reed chairman James Reed has reassured recruiters that the service — called Reed.co.uk Exchange — will not damage their revenues.

Reed spoke this morning at the Recruitment & Employment Confederation’s annual convention in London.

A 10% floor has been set as the minimum a recruiter can ask for their services. But Reed said: “We hope you’ll value your business enough to bid above that. Reed certainly won’t be bidding that low.”

The exchange is open only to jobs paying over £25k and only to recruiters by invitation. 

For more details of the service, see the 5 October issue of Recruiter.

SAM BURNE JAMES reports from the convention