It’s no secret that the market has been quite unexpected in the past few… years, really. And according to industry predictions, 2023 will be no different. Most businesses will be entering the no-growth period up until Q3 of 2024 – so you need to be prepared and implement a strategy that will allow you to stay afloat (or better yet, push through and expand!).
One of the best ways of doing so is by expanding into new niches and touching on markets that will be thriving in 2023. Lucky for you, we’ve got it covered!
It shouldn’t surprise anyone that healthcare became one of the fastest-growing industries in recent years. It is well known that the healthcare sector is facing massive staffing shortages giving recruiters who can offer a different solution to incumbent providers a fantastic opportunity to win new clients.
Outside of frontline healthcare, there are lots of business opportunities in the healthcare technology markets as clients flush with cash from the pandemic look to grow alongside start-ups that are popping up everywhere you look. Even though the growth slowed down after the COVID-19 anomaly, healthcare businesses still secured over $21 billion in 2022.
If things get tough, there is going to be an increased demand for lawyers who specialise in debt collection and criminal law as people resort to shoplifting to feed themselves during the cost of living crisis.
All joking aside, while law firms solely focused on corporate law may struggle during a recession, it’s obvious that legal services will always be required. By partnering with the right firms that have diversified and can be commercially competitive in a downturn, you can find a steady stream of roles to work on.
Ah, the ever-growing technology (shocker). With companies looking to innovate to help make themselves more profitable and massive skills gaps to be closed, the tech sector will remain one of the most buoyant markets for recruiters to focus on. The good thing about the technology sector is that it now touches almost every aspect of our lives, so there will be plenty of scope - not only to work with the constant stream of emerging tech companies but also with established players in other industries who will be looking to strengthen their teams.
The real challenge recruiting in tech comes when finding candidates to source, however, if you can crack that puzzle you will be laughing all the way to the bank!
With the UK Government aiming to reach net zero by 2050, renewable energy is set to be a long-term area of growth for recruiters. The government has identified that the low-carbon sector will support 880,000 jobs by 2030 - which is more than double the current number. What is more, a long-term skills gap in the energy sector helps create ideal conditions for a recruiter to operate in.
The pace of growth in renewables is only going to accelerate as the effects of climate change become more evident and the need for new innovations will drive further investment.
With airport chaos dominating headlines during the summer of 2022, the travel sector will be looking to pull the stops out to avoid negative publicity this year. With international travel shutting down for so long during Covid, there are now staff shortages in almost every area of the industry with many businesses open to trying new ways of working with recruitment providers. It’s the perfect chance to diversify and jump on that ship before it sails!
To learn more about what to expect in the 2023 market, read our industry report!
David is a Senior Growth Outreach Specialist at Firefish. After working as a 360 recruiter, he loves innovating recruitment with Firefish Software.