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The Crucial Role of Recruitment in the UK Economy

Updated: Jul 12, 2023


The COVID19 pandemic has changed the world of work for the foreseeable future, having completely torn down the UK's economy, despite it's best efforts to have saved it through various means.


Millions of people we're lucky, and were placed on the Coronavirus Job Retention Scheme, (also known as the Furlough scheme.) For those who were not as lucky, redundancies were made and businesses were unable to recover from that period of financial instability due to the lockdown measures.


What does post-pandemic working have to do with recruitment? Well - actually a whole lot. Recruitment companies have had a huge boom in the way that people look for their job roles, and the data is fascinating to say the least.


Improves Candidate Productivity

Using a Recruitment Agency provides a catalyst to the UK workforce's productivity as a whole. This is because of its direct influence on competitiveness within workforces when it comes to working conditions post pandemic. Research suggests that remote working can boost UK productivity by as much as £9 billion per year.


Recruiters gain and retain candidate talent for clients, supporting the economy's monetary value and ensuring that good quality candidates land in a role that suits them, which then benefits the employer having retained themselves the talent they need to drive their businesses forward, result!


Keeping Unemployment Levels Low

The work that Recruitment industries such as ourselves here at MLT Recruitment do to keep unemployment low include flexibility within the job market. given that a lot of roles are remote since the COVID19 pandemic, and because recruiters have a broad market and reach of candidate search, recruiters can place candidates into roles without the barriers of regional restrictions as much as they used to, keeping people employed regardless of commute struggles or restrictions.


A REC study found that every 21 seconds, an out of work person finds a permanent role through a recruitment agency, and around 30% of temporary workers believe that the recruitment industry afforded them a better opportunity.


Creates an Inclusive Opportunities

Recruiting or helping to recruit through a recruitment agency ensures a level of safeguarding and compliance when it comes to ensuring candidates are treated fairly and equally within the application process.

Recruiters can help to remove discriminative barriers by working with organisations that implement diverse and inclusive policies driving productivity and innovation through the roof.

Here's some more REC stats that may surprise you:

  • 62% of businesses said that working with a recruitment agency has helped them increase the diversity of shortlisted candidates.

  • 63% of businesses said that working with a recruitment agency has helped to increase the diversity of new hires.


Helps to quicken Economic Recovery

A huge impact that recruitment companies have, as well as a moral duty of keeping Clients staffed and Candidates employed, is that in turn, it helps to quicken the process of keeping the economy ticking.


Recruiters are always on hand to source the talent that organisations will need, and advising candidates of the appropriate skillsets needed in order to carry out the job efficiently.


Moving forward, the recruitment industry will help those made redundant find work again, placing them in new jobs amid a changing environment. It will also advise employers who are working to adapt to change.


Long term remote working and managing hybrid teams are challenges that many organisations won’t have encountered before. They are adaptations thrown up by the pandemic, but ones that are here to stay.


Recruitment professionals such as ourselves here at MLT Recruitment are able to guide business leaders through these changes and help manage the expectations of both Clients and Candidates.


So why not get in touch today at info@mltrecruitment.co.uk or call us on 01752 875700 for more information on how to become a Client or Candidate of ours.

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