From November 2020 to June 2022, Hirewell placed an average of 30 recruiters per month. That was a combination of FTEs through our HR practice and RPO engagements with Hirewell’s embedded recruiters.

Those were heady times. We saw a huge spike in the salaries of recruiters. Needless to say, the pendulum has swung the other direction. Hard. The number of recruiters placed dipped by 80% in 2023. Companies were shedding their internal TA teams, so the last thing they needed was help hiring more recruiters. And the RPO side of things didn’t fare much better. Our long term engagements kept chugging along. But many of the short term opportunities (less than 12 months) went away.

In Q1, we talked about momentum in our pipeline. Six months later, that has resulted an increase in solutions engagements (RPO and multi-hires). That’s resulted in more recruiter hiring. We are still far from the 2021/H12022 days, but there is genuine optimism. We’ve seen projects through our RPO offering rise 35% since January of 2024.

Where is the interest coming from? A lot of places. Some of it is event driven - PE firms needing to scale up portfolio companies over 5-6 months. Other clients are dipping their toes in the market and aren’t quite ready to build their internal teams again.

What does the future look like? I don’t know. But it is encouraging.

Check out the latest Hirewell Recruiting Reality, where Liz and Shania chat with Jeff Smith to discuss what he’s seeing in the market.

Recruiting Reality, Ep 43 "All Things Hirewell: RPO Offering"

In this episode of Recruiting Reality, Liz and Shania continue their ‘All Things Hirewell’ series by delving into Hirewell’s RPO Offering! They’ve invited Jeff Smith, a Partner at Hirewell, to share insights into the practice and how Hirewell can partner with you to handle your Talent needs.

—Matt Founder, CEO - Hirewell

ALSO FEATURED

The 10 Minute Talent Rant, Episode 92 "Why AI Won’t Fix Hiring"

Another day, another AI tool that promises to change the world. But won’t.

It’s not a big leap to think we’re at the peak of the AI hype cycle. But in recruitment – a sector already trailing the technology curve – what if it actually makes things worse?

Who is going to train AI on a good interview process if there isn’t already a good interview process? What happens when an AI bot breaks down and no one knows how to fix it? And why would we think taking more human involvement out of an experience often lacking human touch will be a good thing?

James Hornick and Jeff Smith broke down why we shouldn’t expect a recruiting cheat code in episode 92 of The 10 Minute Talent Rant, "Why AI Won’t Fix Hiring.”

Watch the replay via Hirewell Talent Insights here. You can subscribe to Hirewell’s YouTube or on the Talent Insights podcast (Apple, Google, Amazon, and Spotify) there as well.

THE RECAP

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The Hirewell Update, Ep 15 "2024 Q1 + Q2 Job Market Insights - Trends Challenges, and Opportunities"

In their latest episode, Emily and Ryan review the Q1 and Q2 job market, highlighting layoffs in tech and retail closures like department stores and Amazon cutbacks. Economic uncertainty due to inflation and rising interest rates has led employers to struggle with higher compensation demands, sometimes pausing hiring. They discuss the shift from remote work to a return-to-office push, balancing employee preferences with corporate mandates. Employers’ increasing selectivity has slowed hiring and even caused freezes when ideal candidates aren’t found.

They note a transition from the “Great Resignation” to the “Great Stay,” where stability is prioritized amidst economic uncertainty, tightening the job market. The gig economy is also on the rise, with more professionals opting for interim roles and project-based work. Emily and Ryan offer insights into today’s complex job market dynamics, addressing challenges and strategic considerations for both job seekers and employers in navigating these uncertain times.