Q1 Results and Recruitment Trends

Q1 Results and Recruitment Trends

Based on 2020 Q1 the numbers are just 7% down year on year for Q1 2021 which because Q1 2020 was a record for Chase & Holland we are very pleased with those results. The trend of positive results does seem to be continuing into April which is obviously looking much better than 2020 but I think for Q2 results we will look at both 2020 and 2019 for a true reflection of the recovery in our region.

In terms of breaking that down into our main divisions we have seen the following trends:

Finance & Accountancy: compared to last year our Finance division is 4% up on turnover and as a sector is busy and back to full strength. In fact, it is fair to say it is on target for a record year if the current momentum continues. Job flow is high and good candidates can pick and choose between opportunities.

Supply Chain & Procurement: in Q2 last year this was our most affected discipline with almost all recruitment being put on hold for the course of April and part of May last year. It is therefore pleasing to report that compared to 2020 Q1 this division is now only 7% behind and really showing signs of once again becoming our fastest growing division.

HR & Office Support: another division that is actually ahead on last year this time by 2% and it is fair to say has been a part of our business that has remained solid and steady through the whole of last year with gentle growth throughout. Moving into Q2 it looks like this division is likely to continue to develop well.

IT: this would appear to be a very busy sector but at Chase & Holland we decided to focus our attention on the above established divisions, so we have seen a decline. As a business we have generated 40% less revenue in this area. It is fair to say towards the back end of 2021 we see this a potential growth area for us again.

So generally, it is fair to say that the market in our areas of expertise has very quickly shifted in the most part back into a candidate driven market with a lot of clients recruiting.

In fact, if you look beyond Chase & Holland March was actually the sharpest rate of growth in the permanent job market since April 2015 in the UK according to KPMG and REC. in terms of Temporary recruitment the demand is at a 40 month high according to the same source.