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An overview of 2012

Paystream News

Thursday 24th Jan, 2013

2012 was certainly an interesting year with mixed reviews coming from all ends of the recruitment market. We continued our 5 year growth trend hitting our highest number of contractors ever, largely down to the number of PSL's now in place, and so far, 2013 is looking extremely promising. Most recruiters would agree it has been a difficult year but there have been a number of positive trends.

We have noted that Finance and IT recruiters in their various guises have been steady, with impressive growth posted by smaller and more niche agencies. This has also been the case with smaller Oil and Gas recruiters - either as start-up boutique agencies or larger divisions expanding into the market and going from strength to strength. Other sectors experiencing good growth included the industrial blue collar recruiters, with key events as the London Olympics playing a key role. Recruiters with higher public sector dependency however reported a downturn and many larger providers have been streamlining their businesses to be more cost effective and reactive to market trends.

In 2012 there were strong technology based advances in the market with many IT recruiters reporting growth in areas such as mobile banking and certain job boards reporting dramatic growth in job applications coming from android phones or various apps. PayStream has been quick to respond to such trends by being the first in the market to develop an Expenses App for our contractors to make the process of submitting expenses as easy as possible. We feel technology will be a key driver of the recruitment market over the next few years.

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