May 10, 2019 – A new year, a new set of perspectives and priorities. In 2019, search consultants are feeling bullish. Almost 80 percent of recruiting firms said they anticipate an increase in 2019 revenue, according to a new report from Bullhorn. The rest of their latest report’s findings are below:
Embracing Digital Transformation
Bullhorn found that a majority of global search firms are anticipating increases in their operating budgets this year. Europe had the highest rate of projected increase in technology investment, while North America had the least. There is a strong positive correlation between firms that understand AI and are expecting increases in technology investment, said Bullhorn. “By automating manual workflows, agencies can start to realize the value of artificial intelligence and predictive decision-making on their competitiveness,” said David Grundy, CEO at Invenias, a Bullhorn company.
Workforce Reskilling Efforts to Change in 2019
Workforce reskilling is also a highly relevant solution for candidates whose current skills-sets could be automated by artificial intelligence in the near future, according to the Bullhorn report. And therefore, it is especially interesting that a projected increase in workforce reskilling is highly correlated with an understanding of AI, said the report.
Employment Brand Development and Marketing
The Bullhorn report found that most recruitment firms lack proper marketing leadership, with only 30 percent of respondents identifying employment brand development and marketing as a top priority for 2019. According to a separate Bullhorn survey of more than 100 staffing leaders of medium to large-sized firms, 61 percent indicated that they have neither a vice president of marketing nor a chief marketing officer. Expect that to change – soon.
“Following a successful 2018, the global recruitment industry continues to remain optimistic for 2019,” said Gordon Burnes, Bullhorn’s chief marketing officer. “While firms will face another year filled with an unpredictable macroeconomic and political environment, most are confident in their ability to navigate through these challenges as they continue their journey of digital transformation to drive business growth.”
Contributed by Scott A. Scanlon, Editor-in-Chief, Hunt Scanlon Media