Bullhorn®, the global leader in online staffing and recruiting agency software, today released its annual report covering agencies’ performance, goals and business practices, as well as individual compensation. The data, which was taken from Bullhorn’s annual staffing and recruiting survey, revealed overall positive figures from 2010 and goals for the year ahead, indicating that the industry as a whole is progressing.
Two thirds of survey respondents reported that their firms either met or exceeded their 2010 revenue goals, and more than half saw their total compensation increase in 2010 over the previous year. Most posted aggressive 2011 revenue goals, with many adopting a back-to-basics approach to best take advantage of the recovering market.
“The data gathered in this survey provides us with exceptional insight into businesses’ performance and expectations for the year ahead,” said Vice President of Marketing at Bullhorn Andrew Hally. “With an optimistic outlook for revenue growth and hiring plans comes a clear sign of business confidence within the staffing and recruiting industry. We are excited about this optimism and look forward to a successful 2011 for companies of every size and sector.”
The key findings of the report included:
91 percent expect revenue growth in 2011. Average placement ratios decreased from 39.8 percent in 2009 to 35.6 percent last year.
85 percent plan to increase use of social media in 2011.
More than half of respondents reported their total compensation increased in 2010.
88 percent believe their compensation will increase in 2011.
Three out of four respondents plan to add staff to their business in 2011.
Bullhorn posted further survey detail on the company’s website for the first time which drills deeper into the data by industry (IT, Healthcare and Finance/Accounting) and by firm size. This data is available at http://www.bullhorn.com/survey2011.