Permanent Recruitment Industry Report by Regional Category Spend, Price Analysis, Key Demand, and Price Indicators, and Best Buying Practices

The global Permanent Recruitment market reached a value of about USD 231 billion in 2021. The industry is projected to grow at a CAGR of around 4% in the forecast period of 2022-2027 to reach a value of about USD 292 billion by 2027.

The global Permanent Recruitment industry report gives a comprehensive analysis of the industry, including key segments, trends, drivers, restraints, the competitive landscape, and other essential market aspects. The demand for an efficient recruitment process is driving the industry's growth. North America is the highest category spender by region, driving the need for the Permanent Recruitment industry.

Industry Definition and Segmentation

Permanent recruitment is about hiring highly qualified and bright employees with the skills, aptitude, and experience necessary to contribute to a company's long-term success. Employees hired permanently have full-time contracts and are eligible for the company's benefits. The Permanent Recruitment industry report comprises segments region (North America, Europe, Asia Pacific, the Middle East, Africa, and South America).

The North American Region is Driving the Growth of the Industry

North America holds a significant share in the market as outsourcing recruitment services is expected in the region. Due to substantial global customers' initiatives to consolidate supply bases. The global RPO market has been proliferating and is predicted to increase due to increased technological penetration.

Various digital tools are driving the market for recruitment across geographies by most multinational organisations. Compared to prior tools, suppliers who integrate artificial intelligence deliver excellent decision-making ability. In the retail and IT industries, technology solutions for recruitment are widely used. It offers various benefits like offloading the financial risks associated with the recruitment process to their recruitment partners, resulting in cost savings driving the market demand. The use of social media to find the most acceptable candidates for their internal needs is further leading the industry's growth. It can help streamline the recruitment process. The RPO provider will examine the recruitment process to identify areas of overlap, inefficiency, and high costs and then design a new recruitment strategy, thus resulting in increased demand.

Best Procurement Practices

The global Permanent Recruitment industry report by Procurement Resource gives an in-depth analysis of the best buying practices followed by major global Permanent Recruitment regions, such as engagement models, contract terms, and buyer and supplier negotiation levers.

Category Management Studies

The recruiting manager announces an open position and requests candidates to fill it. A job posting is issued, and resumes are reviewed to determine which prospects will be interviewed. Before being shortlisted, candidates are pre-screened to ensure that they will be a good fit for the job. Before reaching out for interviews, consult with the recruiting manager about the shortlisted candidates awaiting approval—the recruiter schedules client-candidate interviews at the client interview stage. A job offer is offered to the candidate if they are successful, and the recruiter handles any employment/salary discussions between the two sides. A recruiter will follow up with clients and applicants at various stages after the hire until the probationary term.

Technological Advances in the Sector are Further Boosting the Permanent Recruitment Market

The industry is being propelled by technological advances such as Online recruitment, including artificial intelligence, increased social media usage, big data, and mobile technology. Artificial intelligence is utilised to streamline the overall recruiting process, which also aids in the identification of appropriate candidates through the use of various algorithms and cutting-edge search technology. One of the primary supplier trends is integrating digital tools with their recruitment services through M&A and collaborations. Furthermore, Homegrown programmes exist for automated reporting and analytics, whilst SAP and Oracle offer talent management suites for workforce management. Because of these innovative steps, the industry is progressing steadily.

The regional markets for the industry can be divided into North America, South America, Europe, the Middle East and Africa, and the Asia Pacific.

Key Industry Players Mentioned in the Permanent Recruitment Industry Report

• The Adecco Group
• Manpower Group
• Randstad
• NV
• Alexander Mann
• Solutions
• PeopleScout,Inc.

Market Landscape

Google Hire ATS is a clear market disruptor, aiming to reduce businesses' job advertisement costs by combining its Google Ads offerings. Currently, its services are only available to small and medium-sized enterprises. Early users in the "Google Cloud Job Discovery Beta Program" include iCIMS, Hays, Jibe, Johnson & Johnson, FedEx, CareerBuilder, Dice, etc.

Key Initiatives by Companies

• On January 13, 2022 – In every category of NelsonHall's global 2021 NEAT Vendor Evaluation for RPO, PeopleScout received the highest rating of Leader. Geographic Footprint and Scalability, TA Transformation Journey, Innovation in Technology/Tools, Innovation in Service, and an Overall rating are the criteria.
• Randstad NV, a global leader in human resources services, has announced its intention to buy Side, a leading end-to-end digital staffing platform in France.