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Summary and extracts
1 Market Overview
1.1 Definition and presentation
The recruitment market is an ever-evolving sector, encompassing all the services offered by companies specializing in personnel selection and recruitment, activities often outsourced by large companies to ensure that the best talent is hired. The process of selecting the ideal candidate requires a strategic approach, supported by advanced screening and assessment techniques, the success of which can positively affect the company's economic and financial performance, both in the short and long term. HR & Recruitment services are designed to facilitate the hiring of resources in line with business needs and goals, while improving employee engagement and satisfaction.
By 2023, the global HR & Recruitment services industry was worth an estimated $467 billion, with growth driven by the adoption of digital solutions and online platforms. This industry has experienced a significant post-pandemic recovery, with a projected CAGR of 2.5 percent from 2023 to 2032, driven by increased demand for digitized recruiting services and flexible, remote recruitment solutions.
In Italy, the market remains highly fragmented, with many companies preferring to keep the selection process in-house to keep costs down. However, increasing digitization has led to an increase in the use of online platforms such as LinkedIn for recruiting, corporate branding and HR selection. Although the number of digitized recruiting companies is still limited, with about 60 companies active in the online sector, the adoption of digital tools is rapidly increasing, even among Italian SMEs.
A key trend in the market is social recruiting, now essential in the digital age. Social recruiting involves the strategic use of social media to locate, engage and build relationships with potential candidates, subsequently turning them into company resources. The number of companies using social platforms such as LinkedIn, Facebook, Instagram and even TikTok for recruitment activities is growing rapidly, with LinkedIn remaining the leading platform for professional recruiting. This innovative approach has become essential for modern companies, which see social networks as an effective tool for expanding their network and attracting new talent.
1.2 The global market
the global recruitment market is constantly expanding, driven by factors such as increasing labor mobility, digitization of recruitment processes, and growing demand for specialized skills in an increasingly complex and competitive business environment. Companies of all sizes and sectors are facing new challenges in attracting and retaining the talent they need ...
1.3 The European market
Priority skills for retraining in Europe from **** to **** see analytical thinking at the top of the list, with **% of preferences, followed by leadership (***). Creative thinking, resilience and flexibility, and curiosity with a willingness to learn come in between **% and **%. Technology skills and talent management are considered important by ** percent, while motivation ...
1.4 The Italian Market
the turnover of the recruitment, selection, and supply market in Italy has varied from **** to ****. Starting from **.** billion in ****, turnover drops slightly in **** to **.** billion and hits a low of **.** billion in ****. In ****, there is a significant recovery to **.** billion, followed by a further increase peaking at **.** billion in ****. In ****, turnover ...
1.5 Foreign resident workforce
in this market research, we decided to devote a section usually reserved for import and export issues to Italians living abroad. The choice stems from the fact that, in the recruitment sector, the real center and engine of growth is human capital. Italians abroad, with their skills, experience and international networks, ...
2 Demand analysis
2.1 The demand for recruitment in Italy
This first demand section was prepared using information from nCoreHR's "HR Managers: Analysis of Challenges and Evolving Prospects" report. This report gathers the opinions of ** HR managers and directors of large companies (***) from various industries, with the aim of highlighting key challenges and future prospects in the field of human ...
2.2 Survey of assessment processes and soft skills that companies really examine
The second demand section was developed using Altamira's Competencies Report ****, which focuses on competencies and assessment processes within Italian companies. This document provides a detailed overview of the soft and hard competencies that Italian companies consider most relevant, as well as the assessment tools, including observable behaviors and assessment scales adopted. ...
2.3 Recruitment clientele: unemployed and inactive
Italy's current employment rate is **.* percent, the highest figure since ****. The first quarter of **** records *.* percentage points higher than the same period in ****. These figures are very encouraging for the market. This growth is driven by female employment, which recorded ** thousand new jobs in the first quarter of ****.
The national labor ...
2.4 Online interest in "The Recruitment."
Online interest in "Human Resources" in Italy showed significant fluctuations between **** and ****. Starting from a value of **.* in October ****, interest rose to a peak of **.* in February ****, then gradually declined to a low of ** in July. Another peak is recorded in August **** with a value of **.*, followed by a decline to ...
3 Market structure
3.1 Italian Enterprises
the number of enterprises active in recruitment, selection and supply of personnel in Italy showed a slight fluctuation between **** and ****. A decrease is noted from **** (***), probably influenced by the pandemic. From **** onward, the sector resumed steady growth, peaking in **** with **** enterprises, marking an overall increase of *.* percent compared to ****.
Number of ...
3.2 The value chain
The recruitment value chain is a strategic process that guides the organization in attracting, selecting and integrating top talent, contributing to business success. It starts with recruitment planning, where business needs are analyzed and budgets are set, choosing the most effective channels and strategies to attract ideal candidates. In the attraction ...
3.3 The main market players with (ATECO 78.2)
Adecco Italia Spa:
Part of The Adecco Group, a world leader in HR services, Adecco Italia offers temporary and permanent job administration, search and selection, training and outplacement solutions. With more than *** branches nationwide and about *,*** professionals, it contributes daily to the matching of job supply and demand.
Randstad Italy ...
4 Supply analysis
4.1 Prices of recruitment agencies
From **** to the first quarter of ****, producer prices for personnel search, selection and supply (***) services in Italy showed overall growth. Between **** and ****, prices remained relatively stable, with slight fluctuations around the ***-point threshold. However, starting in mid-****, a more pronounced increase is observed, culminating in a value of ***.* in the first ...
4.2 Recruitment Costs
In terms of KPIs, the results of a talent acquisition can be measured by the quality of the selected candidates, their ability to successfully integrate into the company, their contribution to the company's results, and their long-term retention in the organization.
In terms of ROI, well-done talent acquisition could lead to ...
4.3 The prices charged
Companies use a recruiting agency or company when they feel they do not have time to be able to do the recruiting process themselves.
A recruitment agency charges high prices to secure and secure the best candidates and thus be able to offer the company contacting them the best deal.
Generally, ...
5 Regulations
5.1 Regulation of the Recruitment sector
In Italy, the recruitment and selection sector is regulated by a series of regulations that ensure ethics and transparency in the labor market. Legislative Decree ***/****, known as the Biagi Law, is one of the main pieces of legislation in this area, introducing reforms that regulate labor administration and intermediation agencies. This ...
6 Positioning of actors
6.1 Segmentation of actors
- PageGroup (Michael Page)
- Hays
- Robert Half International
- Robert Walters
- WalterJames
- Mosaïk RH
- Orientation Durable
- Korn Ferry
- Egon Zehnder
- Adecco Group
- Eric Salmon & Partners
List of charts presented in this market study
- Global Recruitment Market Value
- Trends in producer prices of services (BtoB), Personnel recruitment, selection, and supply activities (ATECO 78)
- Hiring percentages as a result of virtual recruitment
- Number of Personnel recruitment, selection, supply activities (ATECO 78)
- Employed in the Activities of recruitment, selection, supply of personnel
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Latest news
Temporary work: fratricidal war over permanent contracts - 02/08/2023
- The Contrat à durée indéterminée aux fins d'employabilité (CDIE) was included in 2018 on an experimental basis in the Avenir professionnel law.
- In April 2023, the Contrat Durée Indéterminée Intérimaire (CDII) recorded fewer than 51,000 full-time equivalents (FTEs), or 6.6% of temporary employment, compared with more than 55,000 in 2022.
- At the end of May, 792,600 people were working as temps in France.
- The temping market in France is worth 30 billion euros a year.
- Adecco, Randstad and Manpower hold 12 billion euros of this market.
Adecco: Denis Machuel's plan to regain global leadership in temporary staffing - 21/12/2022
- Regain global leadership lost to Randstad
- Simplification of brands (from 60 to 25)
- Structural savings plan of 150 million euros by 2024
- Integration of Akka Technologies, an acquisition finalized in 2022 to strengthen Modis, the Swiss group's other engineering specialist.
Adecco launched a CV-free recruitment platform for young people at VivaTech. - 15/06/2022
- The "Premier job par Adecco et Qapa" platform is based on a different logic: job offers are based on the choices of candidates, who select jobs according to their aptitudes and aspirations.
- 25-30% of temporary vacancies remain unfilled.
- The digital temping market has grown 8-fold in two years, and over 8 million candidates are already registered with Qapa.
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