With the vast majority – as much as 84% - of agency owners predicting sales growth in 2024, marking an increase from 77% at the start of 2023, it’s safe to assume that most recruitment leaders are looking into the future with a more optimistic view. Whilst these numbers are still significantly lower than in 2022, and a better number of leaders predict a sales growth of only 1-25%, a lot of us are cautiously hopeful for the future.
The best way to thrive this year is to target markets that are naturally growing and expanding – and do so before any of your competitors try it, too. Don’t worry: With our Annual Recruitment Survey Results, Firefish has got you covered!
Sales and Digital Marketing
It shouldn’t surprise anyone that in the era of remote working, most services being moved to the digital world, and strong employer branding rising in importance, the digital marketing sector is thriving.
Sales and digital marketing is the most favoured sector by recruitment agency leaders this year, with 94% predicting sales growth. It’s also one of two markets where as much as 22% of agency owners predict said growth to be of 50% or higher.
Engineering, Manufacturing, Logistics, and FMCG
Second in the race, with 89% of agency leaders predicting sales growth within this sector, is engineering, manufacturing, logistics, and FMCG. As companies increasingly invest in innovation and automation, the demand for skilled professionals in engineering, manufacturing, and logistics is on the rise, making it a lucrative and dynamic field for both employers and job seekers alike.
Whilst this is the second-highest number of leaders forecasting growth, the vast majority (61%) are still cautious, only predicting a sales increase of 1-25%. Agency owners betting on 50% or more growth are second to last amongst all surveyed sectors, with an 11% score.
In the third place, we’re seeing another niche that shouldn’t surprise anyone – construction. Anticipated to thrive in 2024, the construction sector stands out as a beacon of success in the recruitment industry. As cities expand and sustainable construction practices gain momentum, the need for skilled professionals in construction grows. The industry's resilience and adaptability, coupled with a surge in investment, make it an enticing arena for job seekers and a strategic focus for recruiters aiming for success in the evolving recruitment landscape.
With that, 85% of industry leaders are predicting sales growth within construction – and 22% of those are forecasting growth of 50% or more, trailing just behind sales and digital marketing.
Fourth in line stands the professional services sector, with 80% of agency owners forecasting sales growth. Whilst high in the rankings, only 9% of leaders are betting on growth of 50% or more, making it the lowest score of all surveyed sectors, so the predictions here are a lot more cautious.
Finance and Accountancy
Second to last, the finance and accountancy sector with 67% of industry leaders forecasting sales growth found its place. Fueled by the increasing complexities of financial markets, regulatory changes, and the digital transformation of financial services, this sector stands as a dynamic hub for talent acquisition. The growing demand for financial experts, accountants, and professionals adept in financial technology positions finance and accountancy at the forefront of recruitment priorities.
Unsurprisingly, the last sector to consider diving into in 2024 is technology. 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.
Whilst the lowest number of industry leaders predicting growth within the technology sector (65%), the vast majority (22%) is certain that the growth will be of 50% or more – which puts it at the very top score, alongside sales and digital marketing.
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!
To learn more about what to expect in the 2024 market, read our industry report!
As a Senior Marketing Executive, Martha keeps all our written content on point, sharing the latest tips and updates from the recruitment industry.