The UK tied with Mexico to scrape into the Top 10 ‘markets to watch’ in digital recruitment over the next five to 10 years, according to an Evenbase report released today.
Digital Recruitment: The Hottest Markets in 2020 is based on a study commissioned by Evenbase to compare recruitment markets around the world. It includes the Hot Markets List which provides a view of the digital recruitment landscape towards 2020.
Evenbase CEO, Keith Potts comments, “Globalisation is one of the 21st Century’s key trends. However, while playing fields have been levelled and geographic boundaries blurred, many barriers to business remain. The recruitment industry is no exception. It will surprise no one that models that work in Belgium, for example, will probably not work in Brazil.”
This report looks at the many variables that affect the receptiveness of a market to digital recruitment, from raw GDP growth potential to earnings trends, cultural phenomena, mobile and social internet usage, and more.
“On their own these metrics have limited value, but viewed as a whole we have a platform for fresh thinking and conversations around the future of the global recruitment industry,” Keith continued.
“One thing is very clear: employers and recruiters are going to need some new ideas as they consider their move into global markets. Many apparently attractive traditional markets are going to be very hard places to do business over the next decade. This will force the recruitment sector to focus on new models in new places based on new metrics, not just find ways to maintain old revenue streams.”
The Evenbase 2020 Hot Market List
1. Brazil –A young, confident and ambitious market, Brazil has growth potential on many levels and is known to be digitally innovative.
2. India – India’s sheer economic growth potential makes it an exceptionally interesting market. Only serious development imbalances keep from the top slot.
3. China – Although significant political and cultural challenges remain, the sheer growth performance and destiny of the world’s largest economy make it attractive.
4. US – Expected to stay a dynamic, innovative economic powerhouse and driver of change in digital recruitment over the next few years.
5. Australia – Another confident and ambitious AsiaPac country, Australia’s skill shortages make it ripe for innovation in digital recruitment.
6. Japan – This massive, technologically innovative economy is undergoing cultural change after many years of stagnation.
7. Canada – Although small in size, Canada has been fast to adopt new ideas, with a range of unique opportunities for the introduction to the new digital recruitment offerings.
8. Germany – Considered as the European economic powerhouse for the foreseeable future, and currently undergoing significant labour market changes.
9. Russia – A wild card, Russia is beset by deep political and economic issues but has a range of opportunities to unlock its untapped potential.
10. = Mexico / UK – Mexico, another wild card, is highly problematic at present but has the potential to suddenly take off and become the new Brazil. The UK has significant economic growth issues but is traditionally one of the world’s largest recruitment markets.
*See page 4-5 of Digital Recruitment: The Hottest Markets in 2020 for factors considered in the creation of this list
The Hottest Markets list offers just one view of the way the digital recruitment landscape is likely to evolve towards 2020; however its central message is universally important. Instead of reacting to conventional metrics and meta-trends, successful global employers and recruiters will take full account of people, culture and technology, and tailor new models accordingly.
This report is based on research conducted by MBA & Company in late 2012. Commissioned by Evenbase, it was a combination of primary research through interviews with subject matter experts and extensive secondary research.
This snapshot of findings is not definitive and provides just one view of the way the digital market landscape will evolve. Our intent is merely to provide some fresh perspective on the factors and forces that will shape the industry in the next five to 10 years.