IT Recruitment Market Assessment 2008 - Despite Concerns Over the Economic Environment, Between 2008 And 2012, the Industry Will Continue to Grow
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DUBLIN, Ireland, Aug 26, 2008 (BUSINESS WIRE) -- Research and Markets ( http://www.researchandmarkets.com/research/6a3d46/it_recruitment_mar) has announced the addition of the "IT Recruitment Market Assessment 2008" report to their offering.
During the past decade, the IT recruitment market has experienced peaks, troughs and eventual consolidation, from high demand in 1999, to turbulence between 2001 and 2003, to recovery in 2004 and controlled, steady, year-on-year increases in 2005, 2006 and 2007.
In 2004, the computer industry entered a new phase of growth, characterised by steady annual budget increases. Consequently, the period 2004 to 2006 was one of recovery for the IT recruitment industry. Since early 2004, there has been a significant improvement in the market for permanent, temporary and contract recruitment, spurred by new projects among companies to enhance their systems, both in terms of applications and infrastructure. As a result, there was an increase in demand for project managers from 2006 to 2008.
However, the IT skills shortage remained a problem for the UK market during this period of growth. Furthermore, demographic change has meant that agencies have had to build strategies for the recruitment of older workers and women, as well as to operate across international markets. This has opened up new service areas, such as international recruitment and employment consultancy, which job hunters are starting to consider to be standard offerings from recruitment agencies.
The diverse legislative environment continues to be tough for recruitment agencies. They need to be aware of issues related to employment and finance regulations in the UK, as well as international initiatives, including the EU's Agency Workers Directive.
We forecast that, despite concerns over the economic environment, between 2008 and 2012, the industry will continue to grow. Various factors contribute to this conclusion, including the financial sector requiring stability in their systems, the growing need for management of risk and compliance, and skills shortages that still need to be addressed.
Key Topics Covered:
Executive Summary
1. Introduction
THE MARKET
DEFINITION
2. Strategic Overview
MARKET DYNAMICS AND SEGMENTATION
Increasing Demand Since 2004
Table 1: The Number of People Employed in the UK in ICT Occupations and Computer-Related Activities (000), April to June 2006 and 2007
Table 2: The Number of Quarterly IT Vacancies Notified to Jobcentres in Great Britain by Type, May, August and October 2005-2007
Job Advertisements
Salaries
Benefits
Encouraging IT Staff to Change Jobs has Become an Issue
Perpetuation of Skills Shortage
Table 3: E-Skills Vacancies by Type (number and %), 2005 and 2007
Table 4: Actions Taken to Combat Skills-Shortage Vacancies (%), 2005 and 2007
Market Size
Table 5: The IT Recruitment Agency Market by Invoiced Sales at Current and Constant 2000 Prices (GBPm), Years Ending December 2003-2007
Figure 1: The IT Recruitment Agency Market by Invoiced Sales at Current and Constant 2000 Prices (GBPm), Years Ending December 2003-2007
THE LEGISLATIVE ENVIRONMENT CONTINUES TO BE TOUGH
IR35
The Conduct of Employment Agencies and Employment Business Regulations 2004
Finance Bill 2007
The EU Temporary Agency Workers Directive
The Services Directive 2006
The Data Protection Act 1998
Money-Laundering Legislation
The Employment Equality (Age) Regulations
CHANNELS TO MARKET
Recruitment Companies and Search Firms
Recruitment Agencies
Table 6: Channels Other than the Internet Used to Look for Jobs (%), 2008
Contacting Clients
The Growing Use of the Internet
Table 7: The Most Popular Job Websites for IT Professionals by Rank (% of IT users), 2008
The Emergence of Social Networking Sites
COMPETITIVE STRUCTURE
Table 8: The IT Recruitment Market by Estimated Share of Revenue (%), 2006 and 2007
Figure 2: The IT Recruitment Market by Estimated Share of Revenue (%), 2007
Table 9: The Major UK IT Recruitment Agencies by Estimated Market Share (% of total revenue), Year Ending 31st December 2007
THE CONSUMER
Business Customers
Individual Customers
Table 10: IT Jobseekers by Sex and Age (%), 2006 and 2007
MARKET FORECASTS
Table 11: The Forecast IT Recruitment Market by Invoiced Sales at Current Prices (GBPm), Years Ending December 2008-2012
3. Contract and Temporary Staff
BACKGROUND
MARKET SIZE
Table 12: The Contract and Temporary Staff Recruitment Market by Invoiced Sales at Current and Constant 2000 Prices (GBPm), Years Ending December 2003-2007
Figure 3: The Contract and Temporary Staff Recruitment Market by Invoiced Sales at Current and Constant 2000 Prices (GBPm), Years Ending December 2003-2007
CONSUMER TRENDS
Business Consumers
Changing Client Base
The Jobs in Demand
Table 13: Example Skills Requirements of Contract Jobs Advertised on Internet Jobsites (% of job advertisements), 3 Months to 16th April 2007 and 2008
Table 14: The Proportion of Contract Jobs Advertised on Internet Jobsites by Job Title (%), 3 Months to 1st December 2006 and 16th April 2008
Individual Consumers
ADVERTISING AND DISTRIBUTION
4. Permanent Staff
BACKGROUND
MARKET SIZE
Table 15: The Permanent Staff Recruitment Market by Invoiced Sales at Current and Constant 2000 Prices (GBPm), Years Ending December 2003-2007
Figure 4: The Permanent Staff Recruitment Market by Invoiced Sales at Current and Constant 2000 Prices (GBPm), Years Ending December 2003-2007
CONSUMER TRENDS
Business Consumers
The Jobs in Demand
Table 16: Example Skills Requirements of Permanent Jobs Advertised on Internet Jobsites (% of job advertisements), 3 Months to 16th April 2007 and 2008
Table 17: The Proportion of Permanent Jobs Advertised on Internet Jobsites by Job Title (%), 3 Months to 1st December 2006 and 16th April 2008
Individual Consumers
ADVERTISING AND DISTRIBUTION
5. An International Perspective
MARKET DEVELOPMENTS
Global IT Services Continue to Grow in Demand
Offshoring and the Global Division of Labour
Onshore-Offshoring Continues to Add to the Market Dynamics
The Services Directive 2006
COMPETITIVE ENVIRONMENT
CONSUMER BEHAVIOUR
6. PEST Analysis
POLITICAL FACTORS
Employment Laws
Skills Task Force
E-Government
Promotion of IT
Terrorism
ECONOMIC FACTORS
Economic Growth Impacts on IT Budgets
Different Sectors are More Vulnerable than Others
A Long-Term Influence
SOCIAL FACTORS
The Growth of Part-Time and Flexible Working
Teamworking
Changing Demographics
The Growing Importance of Women and Childcare Facilities
The `Sandwich' Generation
`Portfolio Careers'
Human-Resource Outsourcing
Business Environment Drives Demand
Businesses Lack Internal IT Skills
Exploiting Computer Resources is a Key to Business Success
TECHNOLOGICAL FACTORS
IT -- A Competitive Weapon
Software Solutions
The Internet
A New Media Opportunity
A Potential New Media Threat
Changing How Agencies Operate
The Technology Cycle
The Technology Upgrade Cycle Influences Demand
New Technological Trends
Shifts in IT Budgets
E-Business -- A Driver of Demand
7. Consumer Dynamics
EMPLOYERS
The 2008 Recruitment, Retention and Turnover Survey
Table 18: Methods Used to Attract Applicants by Industry Sector (% of respondents), 2005-2007
Table 19: Methods Used to Select Applicants (% of respondents), 2007
THE RECRUITMENT PROCESS
Recruitment Responsibilities
Vendor Management
Elastic Workforce
THE JOBS DEMANDED BY EMPLOYERS
Table 20: The Top 20 Geographical Locations of Contract IT Jobs Advertised on Internet Jobsites by Average Daily Rate and Average Hourly Rate (GBP), 3 Months to 1st May 2008
Table 21: The Top 20 Geographical Locations of Permanent IT Jobs Advertised on Internet Jobsites by Average Salary (GBP), 3 Months to 1st May 2008
Table 22: The Proportion of Jobs Advertised on Internet Jobsites by Job Title (%), 3 Months to 1st May 2008
IT WORKERS
Table 23: The Occupational and Vacancy Profile of Employment in the Computing and Related Industries (number and %), 2007
Table 24: The Profile of IT Jobseekers Using Recruitment Jobsites (% of visitors), 2008
IT Workers' Expectations
8. Company Profiles
AJILON (UK) LTD (COMPUTER PEOPLE)
Corporate Strategy
Strengths and Weaknesses
Brand Development
Profitability
Table 25: Financial Results for Ajilon (UK) Ltd (GBP000), 53 Weeks Ending 2nd January 2005 and Years Ending 31st December 2005 and 2006
Future Company Developments
ALEXANDER MANN GROUP LTD
Corporate Strategy
Strengths and Weaknesses
Profitability
Table 26: Financial Results for Alexander Mann Group Ltd (GBP000), Years Ending 30th September 2004-2006
Future Company Developments
ELAN IT
Corporate Strategy
Strengths and Weaknesses
Profitability
Table 27: Financial Results for Elan Computing Ltd (GBP000), Years Ending 31st December 2004-2006
Future Company Developments
HAYS INFORMATION TECHNOLOGY
Corporate Strategy
Strengths and Weaknesses
Brand Development
Profitability
Table 28: Financial Results for Hays PLC (GBP000), Years Ending 30th June 2005-2007
Future Company Developments
LORIEN RESOURCING
Corporate Strategy
Strengths and Weaknesses
Profitability
Table 29: Financial Results for Lorien Ltd (GBP000), Years Ending 28th November 2004, 27th November 2005 and 26th November 2006
Future Company Developments
MODIS INTERNATIONAL LTD
Corporate Strategy
Strengths and Weaknesses
New Business
Profitability
Table 30: Financial Results for Modis International Ltd (GBP000), 53 Weeks Ending 2nd January 2005 and Years Ending 1st January 2006 and 31st December 2006
Future Company Developments
SPRING TECHNOLOGY STAFFING SERVICES LTD
Corporate Strategy
Strengths and Weaknesses
New Business
Profitability
Table 31: Financial Results for Spring Technology Staffing Services Ltd (GBP000), Years Ending 31st December 2004-2006
Future Company Developments
STERIA RECRUITMENT LTD (XANSA RECRUITMENT LTD)
Corporate Strategy
Strengths and Weaknesses
New Business
Profitability
Table 32: Financial Results for Steria Recruitment Ltd (GBP000), Years Ending 30th April 2005-2007
Future Company Developments
STHREE PLC
Corporate Strategy
Strengths and Weaknesses
Profitability
Table 33: Financial Results for SThree PLC (GBP000), Years Ending 30th November 2005 and 2006 and 2nd December 2007
Future Company Developments
VEDIOR
Corporate Strategy
Strengths and Weaknesses
Profitability
Future Company Developments
OTHER COMPANIES
9. The Future
A POSITIVE OUTLOOK DESPITE CONCERNS OVER THE ECONOMIC ENVIRONMENT
KEY DRIVERS FOR FUTURE GROWTH
Ongoing Projects
The Strong Presence of IT-Intensive Industries in the UK
Outsourcing Human Resources
Demographics
Globalisation of the Industry
THE FUTURE DEMAND FOR IT WORKERS
Table 34: Employment Projections in the Computer-Services Industries (000), 2004, 2009 and 2014
Table 35: Projected Employment in the Computer-Services Industries by Occupational Group (000), 2004, 2009 and 2014
Employment by Status and Gender
Table 36: Forecast Employment in the Computer-Services Industry by Status and Sex (000 and %), 2004, 2009 and 2014
FUTURE RECRUITMENT PROBLEMS
FORECASTS 2008 TO 2012
Table 37: The Forecast IT Recruitment Market by Sector by Invoiced Sales at Current Prices (GBPm), Years Ending December 2008-2012
Figure 5: Growth in the IT Recruitment Market by Sector by Invoiced Sales at Current Prices (GBPm), Years Ending December 2003-2012
10. Glossary
11. Further Sources
Associations
Publications
Government Publications
Other Sources
Bisnode Sources
Companies Mentioned:
Ajilon (UK) Ltd (Computer People)
Alexander Mann Group Ltd
Elan IT
Hays Information Technology
Lorien Resourcing
Modis International Ltd
Spring Technology Staffing Services Ltd
Steria Recruitment Ltd (Xansa Recruitment Ltd)
Sthree Plc
Vedior
For more information visit http://www.researchandmarkets.com/research/6a3d46/it_recruitment_mar.
SOURCE: Research and Markets Ltd.
Research and Markets Laura Wood Senior Manager press@researchandmarkets.com Fax from USA: 646-607-1907 Fax from rest of the world: +353-1-481-1716Copyright Business Wire 2008
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Research and Markets: Estate Agents Market Report 2008 Focuses on the Residential Property Agencies
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DUBLIN, Ireland, Aug 25, 2008 (BUSINESS WIRE) -- Research and Markets ( http://www.researchandmarkets.com/research/cccde9/estate_agents_mark) has announced the addition of the "Estate Agents Market Report 2008" report to their offering.
This Market Report examines the UK market for estate agents, focusing on the residential property agencies. It excludes property services such as auctioneers, valuers, estate managers, property companies and property consultants.
We estimate that estate agency revenues from residential sales amounted to GBP6.71bn in 2007. Revenues are derived from financial services (such as mortgage and insurance sales), lettings and property management, auctions, valuations and surveys, as well as commission from the sale of property. However, the majority of estate agents' revenue -- almost three-quarters -- is generated from sales of residential property. The total number of residential property transactions, i.e. excluding land and commercial property transactions, was estimated at 1.8 million in 2007.
The housing market has been on a roll for 13 years, so a sizeable proportion of estate agency staff have not worked in conditions as difficult as those they are now facing. As a result, they lack the experience required to survive in such a market, and some of the younger estate agents might well withdraw from the market. Indeed, there are already suggestions that the market as we know it today will not exist in 10 years' time, given the currently dire state of the property market and the opportunities for developments on the Internet.
Countrywide remains the largest estate agency, followed by Connells Residential, LSL Property Services and Halifax Estate Agency. The industry continues to restructure. Strutt & Parker has merged with Lane Fox and Foxtons has been sold to a private equity firm. In June 2008, Humberts went into administration but was subsequently acquired by a joint-venture company. Although the firm will remain in business, some closures would seem inevitable. Indeed closures have already taken place across the industry and, by the end of 2008, it is likely that there will be 2,000 fewer estate agency branches than there were at the beginning of the year, with more likely to close in 2009.
Given the growing power of the Internet, many industry observers believe that, when the estate agency industry does recover, it will not resemble the industry of today. It is expected that a period of restructuring will result in a smaller market and more people will be selling property without using an estate agent.
We forecast that both the number of transactions and estate agency revenue will decline in 2008 and 2009, and the market is not expected to recover until at least 2010.
Key Topics Covered: Executive Summary 1. Market Definition 2. Market Size 3. Industry Background 4. Competitor Analysis 5. Strengths, Weaknesses, Opportunities and Threats 6. Buying Behaviour 7. Current Issues 8. The Global Market 9. Forecasts 10. Company Profiles 11. Further Sources Companies Mentioned: Arun Estate Agencies Ltd Connells Residential Countrywide Estate Agents Halifax Estate Agencies Ltd Hamptons Group Ltd Kinleigh Folkard & Hayward Ltd LSL Property Services PLC Savills PLC Spicerhaart Group Ltd
For more information visit http://www.researchandmarkets.com/research/cccde9/estate_agents_mark.
SOURCE: Research and Markets Ltd.
Research and Markets Ltd. Laura Wood Senior Manager press@researchandmarkets.com Fax from USA: 646-607-1907 Fax from rest of the world: +353-1-481-1716Copyright Business Wire 2008
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