Brief updates on recruitment's finances

Wrexham recruitment agency benefits from Jobs Growth initiative

A recruitment agency based in Wrexham has benefitted from the Welsh Government’s Jobs Growth Wales (JGW) programme, in a bid to grow its existing workforce by recruiting unemployed young talent in North Wales.

Recruit4staff, which currently has a team of 17, has recruited five new employees through this programme, all of whom progressed to permanent roles in the agency after six months.

JGW was initially launched to enable expanding businesses to create sustainable opportunities for motivated jobseekers aged between 16-24, and provide them with a six-month job, paying at or above the National Minimum Wage.

Paul Stevens, a Director at the agency, has urged other employees to consider recruiting young people before the programme commences in March 2019.

In 2016, £25million of European funding was approved to support the continuation of the JGW programme, which aimed to support the creation of 8,955 jobs over a three-year period.

Robert Walters announces gross profit increase of 16%

Recruitment giant Robert Walters has announced that its gross profit increased 16% in the second quarter this year.

The specialist recruitment consultancy found that, in the UK, gross profits grew by 12%, with even stronger growth in Europe (23%) and in Asia Pacific (13%).

The eponymous Chief Executive, Robert Walters, said: “The group delivered another quarter of strong net fee income growth across all regions.”

Robert Walters ended the period with net cash of £22.9million, up from £18.4million at the end of June 2017.



Healthcare recruitment firm in £1.4m funding win

A healthcare recruitment company has received £1.4million in funding from Bibby Financial Services in a bid to help the business manage contracts and finances more efficiently.

Leicester-based recruitment firm Pearson Anderson sought a recruitment finance and bad debt protection funding package after requiring support in payroll management.

Their Chief Executive, Amit Kainth, explains: “In order for us to expand our services, we recognised that we needed to prioritise our efforts to drive growth over the next few years.

"To free up new time for us to focus on this, we needed additional support in back office functions such as payroll management and daily administration.”

Cordant Group named in Sunday Times HSBC Top Track 100 list

Cordant Group was one of five recruitment firms to be named in The Sunday Times HSBC Top Track 100 list, which ranks Britain’s 100 private companies with the biggest sales.

This year, five recruitment firms made the list, including Reed Specialist Recruitment who ranked 52nd, Cordant Group listed at 73rd, Morson came 77th, Pertemps Network Group who ranked 79th and Fircroft listed at 93rd.

Chris Kenneally, CEO of Cordant Group, said that they witnessed strong growth in their technology and specialist care businesses, "both in volume and margin this year."

"Managed services and general recruitment growth was driven through changes to delivery structures to improve returns on investment," he explains.

He added that their continued success will be driven through: "improving our customer mix to de-risk volumes, and by driving our social business agenda to assist stakeholder engagement and quality of delivery. Our success has been celebrated through reward initiatives, development programmes for individuals and close collaboration with our customers."

 

Eploy receives approved supplier status

Eploy has been named a UK Government approved supplier under the latest G-Cloud Digital Marketplace framework, G-Cloud 10.

The Gov.uk G-Cloud Digital Marketplace was put in place to help public-sector organisations save time and costs by finding approved suppliers on appropriate frameworks.

Eploy's Chief Technology Officer, Chris Bogh, comments: “We were delighted to be awarded G-Cloud supplier status last year and even more so to secure our first business on it.” 

G-Cloud 10 is the latest version of the Government’s procurement framework, helping to ease the way in which UK public sector organisations procure cloud-based technology.