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Future of Hiring: Exclusive Data from NPAworldwide’s Business Barometer Survey

March 1st, 2024 by Veronica Blatt

FOR IMMEDIATE RELEASE
Contact: Veronica Blatt
Director of Corporate Communications
vblatt@npaworldwide.com
+1 616 871-3323

GRAND RAPIDS, MICHIGAN, USA – March 1, 2024 – NPAworldwide, the leading global recruitment network, has released the results of its twice annual Business Barometer Survey, providing valuable insights into the current state of the independent recruitment industry. Completed in February 2024 by over 560 independent NPAworldwide recruitment firm owners, the survey highlights key trends and challenges faced by the industry.

According to the survey, the global demand for talent has been on a downward trend since early 2022, with a slow rebound in some markets in 2023. This has resulted in a significant increase in the difficulty of finding talent for senior positions. 55.8% of respondents reported business results that were similar or better when compared to the previous 180-day period.

chart showing business results for the past 180 days

“The results of our Business Barometer Survey show a noticeable reduction in optimism among independent recruitment firm owners, with a 14% decrease in benchmarked results since February 2023,” said Dave Nerz, president of NPAworldwide. “However, despite these challenges, the majority of respondents remain optimistic about the next 6 months, with 83.2% expecting similar or better results ahead. It’s clear that finding both jobs and talent has become equally challenging for our members.”

chart showing business outlook for the next 180 days

When asked about the strongest verticals in the last 180 days, the survey revealed that healthcare, technology, manufacturing and accounting/finance were the top industries for recruitment activity. This aligns with the overall trend of increased demand for talent in these sectors.

chart of vertical market strength in the past 180 days

Other results of this survey indicated:

  • About 47% of survey respondents are from outside of North America.
  • The largest respondent group was from North America at 52.8% followed by Australia/New Zealand at 16.1%, Asia and EMEA were at 14.3% each, and LatAm at 3.1%.
  • At the time of the survey, 62.1% of the respondents see the next 6 months as positive or the same as the last 6 months.  This is nearly an 11% decline since February 2023.  So, while things are slower, there is generally optimism for 2024.

“Member firms working contingent and retained recruitment are finding job openings less prevalent but still solid demand for top talent,” said Nerz.  “Top candidates continue to receive multiple offers and counteroffers from existing employers. Compensation offers have become more normalized with long-term trends versus the spikes when exiting the pandemic.  Retaining talent is going to be increasingly important and difficult.  A recent trend of unexpected retirements is an area of concern for employers that have not built strong pipelines or deep benches of talent. Confidence continues to grow as inflationary conditions mitigate. 2024 offers much promise.”

The NPAworldwide Business Barometer Survey provides valuable insights into the current state of the independent recruitment industry, highlighting both challenges and opportunities for growth. With a global network of over 560 independent recruitment firms, NPAworldwide is well-positioned to support its members in navigating these trends and achieving success in the ever-evolving recruitment landscape.

About NPAworldwide. NPAworldwide is a global recruitment network facilitating placements between its member firms. The recruitment network has more than 550 member offices across 6 continents. For more information about NPAworldwide membership, please visit www.npaworldwide.com or www.npaworldwideworks.com.

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The post Future of Hiring: Exclusive Data from NPAworldwide’s Business Barometer Survey appeared first on NPAworldwide.


NPAworldwide’s Business Barometer Survey Reveals Optimism Despite Global Talent Slowdowns

August 31st, 2023 by Veronica Blatt

NPAworldwide, the leading global recruitment network, has released the findings of its latest Business Barometer Survey. The survey, conducted in August 2023, gathers insights from independent recruitment firm owners within the NPAworldwide network. These members specialize in executive, professional, and contract positions on a global scale.

In recent months, there has been a slowdown in the global demand for talent. While fewer job openings are available, recruiters with expertise and connections still have ample opportunities to thrive. According to NPAworldwide president Dave Nerz, 59% of respondents reported similar or improved business outcomes compared to the previous 180-day period.

However, these results show an 11% decline since February 2023, indicating a cooling trend. Despite this, a majority of respondents remain optimistic about the next six months, with 83.5% expecting similar or better results ahead. The competition for top talent remains fierce.

pie chart of survey respondents business results over the past 180 days

 

pie chart of survey respondents' business expectations over the next 180 days

 

bar graph of strong vertical markets

Additional key findings from the survey include:

  • 38% of respondents are based outside of North America.
  • The largest respondent group is from North America (62%), followed by Australia/New Zealand (15%).
  • The remaining respondents represent various regions such as Asia, EMEA (Europe, Middle East & Africa), and Latin America.
  • At present, 73% of respondents foresee positive or stable conditions in the next six months compared to the preceding six months. This marks a 3% improvement since February 2023. While the pace may have slowed down overall, there is still optimism surrounding year-end and early 2024.

“The accounting/finance, manufacturing, and technology sectors continue to show strength,” noted Nerz. “Recruitment firms specializing in contingent and retained placements are experiencing robust demand for talent. Top candidates are receiving multiple offers and counteroffers from their current employers. In this competitive landscape, speed and attractive compensation packages remain essential for successfully securing top talent. Retaining talent will become increasingly challenging but crucial. Despite efforts to cool the economy, confidence is growing, and the job market remains surprisingly stable.”

With valuable insights from recruitment experts across the globe, NPAworldwide’s Business Barometer Survey paints a comprehensive picture of the recruitment industry’s current landscape and future prospects.

About NPAworldwide. NPAworldwide is a global recruitment network facilitating placements between its member firms. The recruitment network has more than 550 member offices across 6 continents. For more information about NPAworldwide membership, please visit www.npaworldwide.com or www.npaworldwideworks.com.

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The post NPAworldwide’s Business Barometer Survey Reveals Optimism Despite Global Talent Slowdowns appeared first on NPAworldwide.


NPAworldwide Announces 2015 Chairman’s Award Recipient

April 1st, 2015 by Veronica Blatt

FOR IMMEDIATE RELEASE
Contact: Dave Nerz, President
dnerz@npaworldwide.com
+1 616.455.6776 x19

GRAND RAPIDS, MICHIGAN, USA – April 1, 2015 – Rick Corey of Rochester, New York (USA), is the recipient of the 2015 Chairman’s Award, presented by NPAworldwide. The Chairman’s Award, established in 1996, recognizes a current or former NPAworldwide owner, manager, recruiter, or staff member, whose contributions and service to the network represent substantial and lasting benefit. Nominations are sought from the NPAworldwide membership, and the board of directors selects the recipient by secret ballot.

Mr. Corey was previously the owner of OpticsProfessionals, LLC, as well as a longtime employee with Weterrings & Agnew, both located in Rochester. He served on the NPAworldwide board of directors for 14 years, including terms as director, secretary/treasurer, chairman-elect, chairman, and immediate past-chairman. Mr. Corey was also heavily involved on numerous committees and was a tireless advocate for the organization.

“Rick Corey was a steady hand at the wheel during some difficult times for the industry and challenges for the NPAworldwide network. Rick is the father of our current conservative-but-optimistic budgeting process that has kept the network on solid financial ground for many years,” commented NPAworldwide president Dave Nerz. “You never feel like you are working for Rick; you are just a member of his team. The Chairman’s Award is a fitting tribute to his many years of service and leadership.”

“It is a great honor to be awarded the Chairman’s Award,” stated Mr. Corey. “Being a member on various committees and on the Board of Directors has been a privilege and a great connection to members worldwide. Being involved in NPAworldwide has been a great experience, both personally and professionally.”

The Chairman’s Award was presented during a special luncheon as part of the NPAworldwide Global Conference.

About NPAworldwide. NPAworldwide is a recruitment network facilitating placements between its members. The network has nearly 500 member offices across 6 continents. For more information, please visit www.npaworldwide.com or www.npaworldwideworks.com.


NPAworldwide Members Elect Officers and Directors

March 24th, 2015 by Veronica Blatt
FOR IMMEDIATE RELEASE

Contact: Veronica Scrimshaw, Director of Corporate Communications
vscrimshaw@npaworldwide.com
+1 616.455.6776 x17

GRAND RAPIDS, MICHIGAN, USA – March 24, 2015 – The membership of NPAworldwide has elected a new slate of representatives to its board of directors. The board of directors is responsible for providing strategic leadership and direction to the member-owned international recruiting network. Each person on the board of directors also owns and operates a member recruiting firm. As board members, directors establish the NPAworldwide business plan, identify strategic priorities, develop an annual budget, and oversee network administration.

“NPAworldwide is a member-owned recruitment network and board leadership is a key part of our success as an organization,” said president Dave Nerz. He added, “Over the years, our members have provided the network with outstanding direction and support by electing board members with great insight, industry knowledge, and business expertise. This year is no exception.” Chairman Jeff McGraw remarked, “The challenges facing third-party recruiters are significant. NPAworldwide offers a remarkable venue for independent recruiters to compete in a global marketplace. I am excited to be working with such a dynamic group of business owners to implement a long-term growth strategy for our member-owned network.”

The individuals elected to the NPAworldwide board of directors include the following:

  • Nerissa Reyes, Avanti People Partnership International (Manila, Philippines), was elected Chairperson-Elect, which is a one-year term. She will automatically become the Chairperson in 2016.
  • Bill Benson, WilliamCharles Executive Search (Grand Rapids, Michigan, USA), was elected to a two-year term as a secretary/treasurer.
  • Elsa Duty, Recruiting Services International / RSI (Cincinnati, Ohio, USA), was elected to a two-year term as director.
  • James Seidel, James Seidel & Associates (Kelowna, British Columbia, Canada), was re-elected to a two-year term as a director.
  • Patti Steen, The Pelsten Group (Seattle, Washington, USA), was elected to a two-year term as a director.

About NPAworldwide. NPAworldwide is a recruitment network facilitating placements between its members. The network has nearly 500 member offices across 6 continents. For more information, please visit www.npaworldwide.com or www.npaworldwideworks.com.

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