Get More HR Clients
Every week I speak with clients and contacts who are busy running HR-related businesses around the world.
(‘HR-related’ means Talent Acquisition, Learning & Development, D&I, Employee Engagement, General HR, Compensation & Benefits, and so on).
There has been one recurring question ever since we were first hit by Covid:
When do you expect to see the HR industry properly bounce back?
On our pre-Christmas HR podcast panel discussion, the general consensus was that the market wouldn’t be back fully until after Easter but that now looks like an optimistic call in some, but not all sectors.
Industry Sectors
Here are the main categories of HR-related businesses . . .
Before We Start [Bonus Resources]
Want some help getting more clients? These may help:
- Free Growth Presentation: Briefing video and slides (no signup required) on 10 Clever Ways That Successful Consultancies Are Bringing In More Business.
- Profitability Article: 45 Ways To Make Your HR Consulting Business More Profitable
- Marketing Services: Marketing support for HR-related companies.
- Start A Podcast For Your HR Business: Details here.
- HR Industry Podcast: ‘A Better HR Business‘
Also, are you receiving our private business growth briefings and free resources?
“When Will The HR Industry Bounce Back”?
The conversations below are from the last few months. Some conversations were from earlier in the year and were based on whether the industry would be back by Easter (hence some references to Easter).
Why are the comments anonymous?
All comments have had names and company identifiers removed.
Why?
Some businesses have suffered badly and not everyone wanted their details published so, out of respect for all, we’ve removed the names. However, all comments are from recent one-to-one conversations on email and LinkedIn.
We have full permission to share these comments here with you here.
Let’s hear from leaders of HR-related businesses around the world . . .
Compensation & Benefits
Employee Benefits Consulting & Projects (USA)
Hi Ben,
I didn’t realize it wasn’t at full strength! I would argue it’s in overdrive at the moment given how the future of work is all of sudden here right now.
Employee Benefits Consulting/Brokerage (USA)
Not sure when the market will bounce back.
Employee Benefits Consulting (UK)
Hi Ben
I don’t share the general consensus that the HR industry is in a dip.
Some projects died and there was some initial fall off last spring. But in recent months the HR consequences of Covid seem to me to have made HR professionals as busy as they’ve ever been – busier in many cases.
There are many obvious reasons for this: furlough, working from home, partial returns to work, developing new policies and working practices for the future, stress and welfare management… the list is long and all these issues need specialist HR input.
And coming soon there will be the impact of a return to something more like normal: the end of the JRS; the removal of the ban on foreclosures (causing work premises to close or to be consolidated, and some insolvencies); efficiency changes; restructuring, recruitment and (sadly) redundancies.
There will also be a strain on pay structures which include a London weighting. If everyone’s working remotely 2 or 3 days a week in future, why should anyone in the London office earn more than anyone in the Cardiff or Leeds office? This is going to be a massive issue for some national employers, especially in the professional services sector. And (not for
HR professionals but for real estate people) what is the impact of that in office and residential rental and capital values in London? And do we still need HS2 (other than as a job creation scheme)?
All this will make yet more demands on HR professionals in the coming months.
That’s not all optimistic for the employees concerned and we need to be mindful of the suffering this pandemic has caused for many people. But I don’t think the HR industry is in the doldrums at all, so I can’t answer your question about a bounce back.
I have no up to date industry turnover stats etc to base that view on: it’s just my perception of the market.
Dare I suggest that people who attend a lot of webinars are self-selecting, and by definition not representative of the busiest parts of the industry?
HR & Payroll Software (USA)
Hey Ben, interestingly we are not seeing much of a downturn. Many companies were forced to pivot obviously due to Covid and along with doing so are looking at opportunities to make instrumental changes in their current processes.
Employee Benefits Education – USA
Hi Ben, we are seeing a lot of traction right now for communications changes (our industry). With remote workers, we have had about 10 big demos in 1 week. I’d say the communications consulting business is picking up now.
Payroll & Benefits Software (UK)
We have seen many clients continue to grow despite Covid. I expect the start of the return in April but there will be a dip from June due to Brexit and labour movement taking effect. There is a major fallacy that UK workers will do low-paid manual work – before Brexit we had a jobs shortage, recovery from Covid will create a jobs boom but the prevention of low-paid itinerant labour will temper any resurgence – hope that is useful.
Compensation & Benefits Consulting (USA)
If our workload is any indicator, the C&B market is back full throttle. We are busier than we have ever been at this time of the year – recognizing that our business is pretty cyclical. I have spoken to our partners across the country and they are experiencing the same phenomenon.
Strategic Benefits Advisory Consultancy (USA)
Business is strong on the client support and retention side of things, existing clients really leaned on us during the pandemic.
A little choppier on the new business side as some of the networking opportunities have been limited.
Are you receiving our private business growth briefings and free resources?
Wellbeing, EAP & Diversity & Inclusion
D&I Consulting Company (Canada)
Hi Ben, actually we have been quite busy with consulting on equity, diversity and inclusion.
I am finding that as companies are getting more certainty, other consulting will pick up.
Belonging & Inclusion Consulting (UK)
Hi Ben,
Interestingly, I have been busier than ever during lockdown. I think it entirely depends on what your focus is. As I specialise in Belonging & Wellbeing, which were identified as the key people priorities for organisations in the Deloitte 2020 survey, I have found interest in these areas has increased exponentially.
In addition, I specialise in neurodiversity, which is an area of increasing interest for organisations and receive enquiries daily.
Interesting that you say some sectors of the HR industry may take longer to bounce back… I am having a book published by FT/Pearson later in the year and it is my prediction that the HR landscape is going to (and in my opinion, should) change completely. This, I believe, will mean some areas of HR will become obsolete.
EAP Service Provider (USA)
Hi Ben, quick answer: I am seeing the bounce back now in training and development as we have moved out of the crisis response phase and the ongoing people management issues become more apparent.
Workplace Mental Health & Wellbeing (UK)
Hi Ben
Yes, I agree that a full reboot of the market by Easter might be optimistic but there is a lot of variation. For example, we specialise in mental health and wellbeing; we experienced a big drop in the first few months of the pandemic but since the summer we have been very busy. Maybe other areas, such as recruitment and selection might be more patchy – some sectors are recruiting but many are at a standstill.
You asked how we managed it. Partly I think the market has changed and there is much greater awareness of mental health and wellbeing as an important business issue. In addition to that we maintained outgoing communications with all of our contacts – in particular providing helpful free material, with no hard sell – but genuinely trying to be supportive.
Employee Experience Company (Europe)
I have never been busier than I have these last 6 months.
HR Consulting
HR Consulting – Public Sector & Not-For-Profit (USA)
Hi Ben — we are extremely busy in the recruitment and selection arena — we are adding people so for us, so far it has been a very busy year!
HR Consulting For Start-Ups and Rapid Growth Companies (Canada)
I’ve been consulting in retail, e-commerce, etc.. and it really depends on the company – some retailers have had terrible results in 2020 while others have seen sales skyrocket. Just look at Amazon vs Top Shop. So I would suggest that much is based on the product/service and how Covid has impacted that particular sector.
Following that, it depends on the type of HR consulting you do and how it adds value to that company. For those companies that are just barely keeping afloat, most likely they will not be looking to add consultants to their books, however, if your HR sweet spot is start-ups / high growth/change management you might be lucky enough to find work in those companies who are thriving in Covid times.
HR Consulting Company (UK)
What is Normal, Ben?
In short no.
Too much slack in the market I.e. unemployed HR professionals.
Easier and cheaper for businesses to hire redundant specialists on Fixed Term Contracts rather than expensive specialist consultants on expensive day rates. Once their is less supply in the market then consulting will be more appealing. Sadly it’s often down to the simplicity of Supply and Demand.
HR Consulting (Canada)
Hi Ben, I agree with the assessment above. I think technical consulting will continue to move at a much faster pace but strategic consulting may lag a bit.
Workplace Conflict & Organisational Performance Consulting (UK)
Hi Ben I’m busier than ever … turnover is higher than last year even with 2 slow months at first lockdown … I’ve expanded my team and now have 20 associates!
The increase is in a number of very serious bullying and harassment investigations and mediations … we have a high level of credibility and expertise in this area … issues which are festering under the surface have escalated during lockdown.
Change Management Consulting (International)
It depends what sector you’re in. Some consultancies are overwhelmed with work especially due to the pandemic.
HR Consulting (UK)
I doubt the market will be fully back for at least 12 months.
HR Consulting (UK)
Hello Ben, with a large proportion of my clients in the hospitality trade, I am directly impacted. The extension of the Furlough scheme will extend this further.
Are you receiving our private business growth briefings and free resources?
HR Consulting (UK)
Bounce back??? Have not a seen a decline. Demand for our services has remained strong throughout the pandemic
PEO (Professional Employer Organization) & HR Outsourcing (USA)
It never left and is doing better than ever.
HR Consulting (USA)
Consulting and professional services is such a broad arena, it’s hard to say. Some elements will come back sooner than others. I’m personally seeing lots of consulting opportunity in culture building, developing/maintaining community in a virtual world, work from home, returning to the office, and compliance issues related to COVID. These areas of consulting are robust now. Other more traditional areas of consulting such a recruitment optimization, learning and development, compensation design will come back by mid-year. I agree that April seems a little too soon.
HR Consulting (UK)
Hi Ben, what I’ve seen is quite disheartening: 1) I personally will find working remotely difficult and hope necessity does not become the ‘new standard’ – HR and particularly many of the works I have been involved in do not lend themselves to remote working 2) The government’s lockdown is candidly obsessive and medical advice is both confused and contradictory 3) I think the issue is not being addressed by the government and certainly the damage to the economy, savings, mental health is rapidly becoming more of a threat than Covid ( and I am in the highest vulnerability group) ….March I believe should bring things to a head and then expect to see a return to full working ‘normality’…..I see no reason why any lockdown should go beyond Easter …
HR Consulting (USA)
Fall 2021
Inclusion + Talent Consultancy (UK)
Business interest and client work has increased recently so all is looking positive.
Small-Medium Business HR Consulting (USA)
Hi Ben, my opinion is that early third quarter there may be a start of a return but I doubt before summer. Companies have gone through a lot of changes and if they haven’t already engaged help in navigating those changes, they are less likely to embark on voluntarily moving ahead with big ideas. I think folks are just looking for solid footing and time to reevaluate a new normal. Just my two cents and observations so far.
HR Consulting (UK)
Hi Ben, I think it will be towards the end of H1 to be honest. Many businesses are being conservative with costs right now and are focussing on surviving. I think movement will be when they see their business picking up.
That said, I have clients in tech who have not been impacted and are busier than ever.
Outsourced HR (USA)
Hi Ben – I think Easter is a bit optimistic – I’m charting more toward the middle to latter 3rd quarter. I hope it’s quicker than that!
Outsourced HR For SMEs (UK)
Within the HR space things will pick up when furlough is nearing an end although there have been many people issues during the pandemic meaning SMEs certainly have realised the importance of HR more than ever. In the operational space anyway.
HR Consulting (UK)
Interesting that you are talking about the industry bouncing back.
From my own business’s experience, there has been no step backwards – in fact, we have had our busiest year and finding 2021 is bring more new clients to our door.
I think if consultancy businesses got the last 12 months right by focussing on customer care and retention and gave some goodwill to help others as we did then this will be repaid.
Talent Management (UK)
Hi Ben, HR has never been more important than now but I think the emphasis will move towards people experience and culture because people will need a lot of caring and nurture after all this. If people thrive… business will thrive too.
HR Consulting (USA)
I’m faring very well. I have more work than I can handle so I have 2 subcontractors helping me. It’s a good problem to have!
I have built a strong reputation, and I serve my clients well. They keep coming back to me to do additional work, and they refer me to others. I’ve had to say no to some potential new clients so that I can focus on current clients and previous clients with new engagements.
Organizational Development Consulting (Canada)
I don’t think we will see broad vaccinations until fall in North America, looks various pacing elsewhere- JNJ vaccine will be a nice addition given one shot and easy storage- in terms of the HR world, I believe the workplace is forever changed and there will be ongoing health issues- mental health, continued use of masks, higher hygiene standards- the best workplaces will address and position the workplace as the safest, healthiest and most informed place to be
Workplace Conflict Resolution (USA)
Seeing a pretty major bounce back now and not sure if it’s a result of increased advertising or a market shift.
HR Consulting (UK)
Hi Ben, it’s difficult to assess. Before Christmas I would have said Easter – my gut feeling now is Autumn. Sorry if I sound pessimistic.
Operations Management & HR Services (USA)
Easter is an optimistic view as well due to businesses usually cutting those services first when finances are tight. However, professional services can help a business maintain daily operations without the responsibilities of an employee. For example, I offer management, billing, clinical assistant, HR, and front office services for small psychology practices. I work on a percentage of overall collections versus an hourly rate that an employee would receive. I have a unique setup, but this model has been helpful during this pandemic.
HR Consulting (USA)
For my firm, it has begun to pick up. I definitely see an increase now. We will see if it stays? [What did you do?] I just didn’t give up. Kept my foot on the gas.
Leadership / Learning & Development
Leadership Coaching & Consulting (USA)
I think it’s [Easter] a little optimistic . Although, I’m busier than ever. Working virtually mostly and scheduling into the future. There will also be a pent up demand, so just you wait and see.
L&D Consulting Company (UK)
HI Ben – I think Easter is far too optimistic. Although I’m not too sure I like the question. Bounce back is an interesting idea, not too sure it is how I look at the world, I think it is about redefining our world not waiting for it to bounce back!!
Career Development (USA)
Well, for federal consulting we are very busy. People with federal jobs now. Now that there’s a new president. Eventually, there will be a lot of new initiatives and more jobs talked about. Within a month.
Leadership & Workplace Culture Consulting (USA)
I think there are a few factors. One is COVID and when businesses expect to be back to ‘normal’. I don’t see this til maybe mid-summer. Personally, I think that the perfect timing for them is now. That type of thinking isn’t going to get them ahead of the curve.
Secondly, I think it is our era of civilization change. That breeds uncertainty and consequently a lack of urgency to change.
Then the economy and a host of other things too.
Leadership Development Consulting (Canada)
Hi Ben, interesting question. I agree Easter is overly optimistic if we are talking face-to-face work and international travelling . The work resumed virtually but to be somewhat similar to what it was before – probably not before 2022.
Leadership Coaching (UK)
My view is that we are in the eye of the storm and that, although we are seeing optimism across some areas there is a considerable delay with some of our clients not wishing to commit to projects until there is a little more certainty.
Leadership Development (USA)
I feel optimistic that it will bounce back after Easter. It is up to we, the consultants and professional services providers, to engage with with businesses and let them know how we are an essential key to helping their companies grow during these uncertain times.
Leadership Coaching & Consulting (USA)
Hi Ben – My primary business is for Executive, Leadership, and Career Coaching and I have been very busy. My work comes from referrals so perhaps I am not hit with the normal slow-down? If anything, I have been busier during the pandemic. I am very grateful for that and beginning to pause on new clients.
Leadership Development (UK)
I think the answer to your question is somewhat market and industry-specific. As I mentioned in my earlier message, my HR business boomed in 2020 and shows no signs of slowing down. COVID brought to the forefront the realization for many leaders that they were unprepared to lead through the crisis. This drove them to find ways to shore up those skills and find support, which included enrolling in leadership courses like the one I offer and seeking coaching on how to lead their teams better and navigate COVID’s sometimes muddy waters.
The industries hardest hit in our region were hospitality and tourism. So many restaurants and hotels either closed or are in survival mode to see if still, they will weather the storm. That said, I have a number of hospitality clients and all of them reached out to me during the last year for help, either with supporting them personally as leaders, or with the personnel issues that arose as a result of the realities of pulling back during COVID. Some, even though still in crisis, are looking to the future and seeing the value of doing HR planning for when things do open up.
That said, some of my HR consultant colleagues have had an opposite experience, where their businesses ground to a halt in 2020 and have still not rebounded.
So the less than definitive answer to your question is – depends ?. I don’t see it as a black and white answer. The key for me has been a focus more than ever, on providing value – not in offering services but in shifting and adapting to their changing needs, offering compassion and understanding for what they are going through (including sometimes lowering or eliminating my fees), being creative in how services were delivered (sometimes combining with other organizations to deliver services to reduce costs), and giving them the assurance that I was there for them.
No crystal ball here, but my hope is that we will begin to recover sooner than later, and get on with business!
Leadership Development (Canada)
You can start to feel the loosening of the purse strings and the need for investment back in leadership areas. I think within 2021 seems realistic by q2 hmmm not sure.. optimism isn’t a bad thing though!
Leadership Development (USA)
Good question, but what did they mean by after Easter? There are a lot of variables to consider but I’m hopeful things will continue to improve in the second half of 2021.
Personality Assessment & Consulting (USA)
Hi Ben,
Things are starting to pick up again in our business after a difficult year for all. We are quite hopeful about the future.
Pre-Employment
Pre-Employment Screening Company (USA)
We just had our highest day in screening yesterday, since April 2019. So hiring appears to be back, and that is what matters for us. I couldn’t make a guess on consulting. But since hiring seems to be a leading indicator, I feel optimistic, which I haven’t felt for a long time.
Pre-Employment Verification (UK)
Probably May June this year however HR Recruitment is still ongoing
Pre-Employment Interviewing (Canada)
Hi Ben. I can tell you that business is down for us due to the difficulty in finding anyone who has the time to even speak about candidate assessment. Collections have also been difficult.
Pre-Employment Assessment (USA)
Nice to meet you here as well, Ben. In answer to your question, to some degree that depends on where the business is located. Overall, I’d love to see that market return in the next 2-3 months — however, the amount of agreement accumulated on being “locked out” and “locked down” — I wouldn’t be surprised if it wasn’t the fall or later.
Recruitment & Talent Management
IT Recruitment (UK)
I am super busy at the second but my short answer would be ……………….I think it already has [bounced back].
I can only speak about IT which is my world but we have had records smashed in October, November and January 2021. The market is great and very buoyant in my opinion.
Executive Search (USA)
I think Easter is being very optimistic for it to “properly bounce back.”
Financial Services Recruitment (UK)
Hi Ben. My firm which specialises in Banking and Financial Services has been reasonably busy throughout this year. All the indications point to a reasonably active market for 2021.
Construction & Engineering Recruitment (UK)
Entirely depends on your market – construction is improving now – but not back fully yet.
Construction & Engineering Recruitment (Canada)
The market will stay strong with tenured relationships and will provide new opportunity for those who can deliver versus those who didn’t.
Global Talent Acquisition and Management Advisory (UK)
Hi Ben, interesting question. Looking at the various entities, commercial and otherwise, I deal with it’s a very mixed picture. But certainly in TA volumes are increasing again markedly which is a good indicator of general activity. The answer, I suppose, is it depends. In some sectors, activity has been broadly maintained and my various friends in accounting, law and professional services say they have never been busier. There will be a lot of pent-up demand, but I think it will take until the summer to see a real bounce back. Assuming, of course, we don’t get outmaneuvered by virus mutation. But my guess is no better than anyone else’s. You could try an astrologist!
Talent Acquisition & Retention Consulting (USA)
Hi, Ben
I believe it is picking now… business owners are tired of the B.S. going on so they want to expand. I see this in my own activity.
Talent Selection & Career Coaching (UK)
Hi Ben,
I try to stay optimistic, but everyday reality kicks me where it hurts! My own view is it will be September after people have hopefully got vaccinated and had some sort of holiday.
It is so difficult to predict, but fingers crossed it is sooner rather than later.
Talent Acquisition Services & Recruitment Technology (UK)
Hi Ben,
Personally, I feel we will feel a positive bump come April and then things will go stable for a while. However, if the vaccine roll-out is accurate and carries the necessary protection that we all need, I can see a great future ahead from September onwards.
Legal Recruitment (UK)
Hi Ben, you probably won’t like my view. I don’t think these markets will or can ‘properly’ bounce back (even if they superficially seem too). They are not sustainable.
We are at a critical point in our global history with a number of megatrends converging. We simply can’t avoid this tsunami. As we barrel towards 2030, we need to work together to find clever ways to keep all the professions relevant and earning.
IT & Engineering Recruitment (UK)
Oh Ben – I feel its already ON – just pivoted more towards a new Virtual Normal.
Executive Search (USA)
Hi Ben, I think it’s already back and while there still may be some more to go, the market looks good and is getting traction. I have clients hiring like crazy and I see tons of job postings out there every day.
Multi-Discipline Recruitment (UK)
Hi Ben, great question. I think it’s going to a gradual increase in confidence. I don’t think we are going to see anything drastically improving until after Q1.
I too am optimistic and have never been so excited about my business but its been a long year.
Recruitment (Canada)
I think we will be all cutting costs for some time.
Networking & Infrastructure Recruitment (UK)
It’s already back Ben.
Headhunting (International)
We have never been busier but our relationships with clients are extremely deep and the way we operate is different to every other firm – our major clients (all over $30bn revenue) have benchmarked us as class-leading. I guess we are first in the queue within our clients so haven’t felt the impact. To us, it’s extremely buoyant right now and has been for the last 2 months.
We have just signed major campaigns in both Europe and America worth over £1m in search fees so since I wrote to you, for us anyway, it has become even busier!
Human Resources Careers Recruitment (UK)
After Easter sounds about right for an increase in levels – can’t see it be a full bounce-back though. Some specialisms are have rebounded (HRMI, EDI, L&D).
International Recruitment (Canada)
We are as busy as ever in this space.
Construction & Engineering Recruitment Company (UK)
[The market will be bounce back by] Q2 and beyond, but it will be churn, not growth.
Executive Search (UK)
Hi Ben, tough to say. I think after Easter is accurate.
Having said that, things are still moving forward in some areas. It a matter of finding those and focusing on them.
Executive Recruitment (USA)
I think that’s probably a fair assessment. I think Q2 or Q3 depending on vaccine rollout and these new strains. Hope that helps!
Graduate Recruitment (UK)
Hi Ben
From our perspective (other than a big dip March-May last year) the demand has really held up. If anything we are seeing more demand this year than in previous ones. But speaking to others in the sector I fear we are bucking the trend somewhat. On a recent labour market webinar where I made some predictions for 2021 I muted that Summer would be the point at which we see economic and job creation recovery start in earnest. I hope that is helpful.
Multi-Discipline Recruitment (UK)
Hi Ben, my view is [the industry will bounce back by] Easter depending on how the roll-out of the vaccine goes. But were hoping Easter as a worst-case before things are generally back to normal.
Medical Recruitment (UK)
Hi Ben, I think for general non-essential services-based recruitment it will be a year or two.
The economy and general confidence is going to take a heck of a lot longer and it is of course all inextricably linked!
Talent Acquisition & Management (USA)
From my PoV, the market is very strong.
Legal Recruitment (UK)
Hi Ben, I think it is so dependent on the market in which you work. I know some people in legal who have done brilliantly over the last 9 months and not so well as well.
I think it could be a while until the market returns to normality but it’s hard to say without any certainty.
Renewables and Finance Headhunting (UK)
Things are going relatively well here in finance.
Administrative Support Recruitment (USA)
My recruitment desk is struggling but starting to show some signs of returning. It is, however, “stop and go” right now.
Print & Packaging Industry Recruitment (UK)
Hey Ben, I don’t think we will have much improvement until the summer at earliest. I think the wheels will start moving again in April but it will be a slow start
Public & Third Sector Recruitment (UK)
Hi Ben, sadly there’s not a simply answer to this question.
I believe the answer depends on which sector you work within.
I work within the public sector, so my business thankfully managed to bounce back after a few months.
Recruitment agencies operating within the hospitality or retail space unfortunately have a more challenging journey ahead.
Whilst we’re unified in the recruitment industry, the sectors in which we work within very much dictate the timeframe attached to the “bounce back”
With government guidelines changing so consistently, it’s very hard to plan ahead and forecast accurately.
It’s impossible to predict. In my opinion, it would be advantageous for those that are working within challenging sectors to look at diversification to safeguard their businesses.
International Recruitment (USA)
Hard to say Ben, so many factors to consider based on the particular business. For my company, I expect our covid affected parts of the business to be fully back by Fall.
Private Equity Headhunting (UK)
Hi Ben,
I don’t think it will be fully back for a long time. Probably a number of years. But it will be much better after Easter. I’m basing this purely on gut feeling gathered from our company’s activity which is strong in Finance but not so much in HR.
Are you receiving our private business growth briefings and free resources?
Data Centre Recruitment (UK)
It is busier now than it was 12 months ago and we saw no drop-off in 2020.
Return-To-Work & Job Placement Services (USA)
Hi Ben. I think the key measuring stick is vaccinations, which will trigger public confidence, which will hopefully result in leading again to some normalcy in many of our markets.
Student Intern Placements (UK)
It depends on the industry. I’m lucky enough to be in the position where I support businesses across all industries, so I have witnessed a steady growth in activity since around late Summer.
It’s picked up even more since the turn of the year but there’s still a long way to go!
Recruitment & Talent Management (UK)
Regarding the recruitment market there are different issues within this.
Businesses that are growing and not affected by the pandemic are struggling to find good quality people (There is a reluctance to move at the moment due to so much uncertainty) Also when they do find a good quality candidate that they want it’s a struggle to get them onboarded properly due to lockdown so these candidates can struggle with integration and, as a result, companies are delaying start dates or just ‘waiting’ until lockdown/workers can go into an office safely again.
So I think there may be a slight improvement in a few months’ time it will probably coincide with the Furlough scheme ending and unemployment rising sadly. Therefore this is likely to impact the market for longer than just a few months. I don’t want to sound pessimistic though as I do believe that as a Nation we are determined people in the UK and with more trade deals being agreed I think that may help.
Only time will tell how effective the vaccine is on winning the war against this virus and that ultimately will be the deciding factor.
Another thought for you… with the Uber decision today it could be the end of the Gig Economy as we know it and what impact could this have on the market with unemployment. Great for the ‘workers’ to get these rights but to what detriment overall?
Recruitment & Talent Management (UK)
Properly bounce back means the international situation needs to mirror where we are in the UK. Easter is a good call if you add 2022 to the date.
Recruitment & Talent Consulting (UK)
Ben… we are very small and having been around for 18 years have a loyal client base that has helped us. The key is that the client base is predominantly global/international clients so not affected wholly by UK market. We are going to be down in revenue for 2020 but OK.
The other thing to mention is that most of our work consists of small-ticket items ie around £50k bracket which often does not require huge engagement from vast numbers of front-line people and secondly ends in a report or ppt deck(s). They are on the whole low risk and requiring minimal change at this moment in time.
Headhunting (UK)
I had a terrible year last year (double whammy of Brexit and covid) but have just had my busiest January in 13 years of trading. Hoping it’s not a blip! I am a headhunter only and don’t offer wider HR services.
How? I would love to say I am a master business tactician but I think it’s either luck or just the natural flow of business. I get the impression that everyone was so nervous last year about what impact Brexit would have and if/when covid would allow for a return to ‘normality’ that they put everything on hold but then January came, and people realised that we have to plough on and get things moving again. Might be vaccine related, I guess that signals the beginning of the end (hopefully) so perhaps business confidence is higher? Or, it could be a blip… ask me again in 6 months’ time!
About Get More HR Clients
Get More HR Clients provides briefings on marketing for HR firms.
Want some help getting more clients? These may help:
- Free Growth Presentation: Briefing video and slides (no signup required) on 10 Clever Ways That Successful Consultancies Are Bringing In More Business.
- Profitability Article: 45 Ways To Make Your HR Consulting Business More Profitable
- Marketing Services: Marketing support for HR-related companies.
- Start A Podcast For Your HR Business: Details here.
- HR Industry Podcast: ‘A Better HR Business‘
In our HR marketing podcast, we talk with different HR consultants and HR tech companies from around the world to learn about what they do and how they keep their businesses healthy and moving in the right direction.
If you have questions you want to ask about growing an HR consultancy, visit the HR marketing services page.
All the best,
