With talk of improvements in the economy, now seems a great time to investigate expansion into new markets. These sectors are showing signs of being the hottest for recruiters in the coming years, with the traditional sectors still coming out on top.
For many years the IT recruitment sector has been the backbone of a large number of recruiters. With a wide range of sectors, including exciting new spaces such as big data, and a variety of roles to cover, the IT market is still a very lucrative place to be
Statistics released at the end of July suggest that nearly 800,000 people are employed within the IT industry, a growth of over 11% compared to 2012. This is the fastest rate of growth since the dot com bubble in the late 90’s.
Having said this, there are still a number of challenges (or potential opportunities) for would be recruiters including a skills shortage in a number of areas.
Oil & Gas / Energy
Despite constant warnings that we are ‘only 30 years away’ from running out of oil, demand continues to grow. Add to this the boom in other energy areas such as shale gas extraction and you have a market primed for recruiters.
Recent statistics from the US suggest that over 150,000 new oil & gas roles have been created since 2010. Whereas in the UK, the government has estimated that nearly 80,000 new jobs will be created through the expansion of fracking and has provided a number of incentives for companies wishing to develop this sector.
Australia is currently seeing a large growth in clean energy jobs such as solar with growth of over 200% since 2007.
These three examples highlight the need for global diversification if you decide to enter this sector, so teaming up with a finance provider like Sonovate would give quick and easy access to contractor finance and back office.
The finance sector has suffered more than most in recent years but is showing signs of improvement. A recent report by PricewaterhouseCoopers has claimed that well regulated and sustainable growth of the UK financial services sector could generate approximately 265,000 additional jobs and grow GDP by 3% by 2020.
The aerospace sector is expected to boom in the coming years with more than 27,000 new passenger aircraft expected to be delivered over the next 20 years, offering recruiters an opportunity to position themselves to take full advantage.
The development of high profile planes such as the Airbus A380 and Boeing 787 has fuelled a boom in demand for fuel efficient aircraft across the civilian aviation industry.
Healthcare & Life Sciences
Potentially the trickiest of the five to enter, healthcare can still be a rewarding marketplace for recruiters. In Australia for example, over 270,000 new healthcare roles have been created since late 2007, and this trend is expected to be seen around the world as governments and private healthcare companies face up to ever ageing populations.
This population will also provide the background for growth in the pharma market, with the WHO stressing the research and development should now reflect an ageing population.