RECRUITMENT INDUSTRY: EXPLAINED IN FIGURES

Overall process of attracting, shortlisting, selecting and appointing suitable candidates is what we define as “Recruitment”. As market for Talent has agitated, it has given rise to new segment of recruitment called Recruitment Marketing.

In 2017, Global online Recruitment industry was valued at whooping US$ 22 billion and is expected to reach US $ 39 billion by 2025.

According to report, LATIN AMERICA is expected to grow fastest with CAGR of 9.1% though ASIA PACIFIC was the largest region in online recruitment valued at US $8 billion (2017) thanks to players like LinkedIn, Monster, CareerBuilder, Glassdoor etc.

The second reason which can be held responsible for APAC being the largest is growth of India and China.

Online Recruitment Industry in India is growing at 12% annually, according to the analysis by The Hindu in January 2018, thereby attracting a lot more investments. India does not have a problem of talent supply on a relative basis compared to many countries which have an acute talent problem. But in terms of regulations India is far behind other markets. Though factors like demonetisation and GST have pushed formalisation of employment to a faster rate.

Many players are adopting the strategy of acquisition and merger since the recruitment industry is highly fragmented. For example, acquisition of Glint by LinkedIn in 2018 has expanded engaging platforms, subsequently, generating more revenue.

2018 was the record-year for new recruitment agency start-ups with Technical/ Engineering continuing its dominance. By 2025, it would account for a share of 19.32% in global online recruitment market.

We can foresee the emergence of new sunrise industries like Insurance, Telecom, E-commerce and it would be definitely interesting to watch their contribution in staffing scenario!