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Finance directors predict rise in recruitment spending in 2015

Expansion plans and a more mobile labour market are two big reasons why finance directors are planning to spend more on recruitment over the next 12 months, according to a new UK-wide survey that paints a healthy picture for recruiters in 2015.

The FD Recruit 2015 Forecast found that three quarters of finance directors will either match or increase their recruitment budgets compared with 2014, as they put into place expansion plans and prepare for a rise in the number of employees changing jobs.

The statistics were revealed by FD Recruit, which specialises in the recruitment and career development of finance directors. As part of its service, FD Recruit surveys hundreds of industry professionals about hot industry topics.

Heading into 2015, FD Recruit quizzed its finance directors about spending projections for the coming year, finding that 80% of finance directors are either ‘optimistic’ or ‘very optimistic’ about 2015 - and that figure will translate into recruitment to the benefit of both recruiters and employment law specialists.

In more general terms, the FD Recruit 2015 Forecast found that about a quarter (26%) of finance directors reported that business in 2014 had exceeded their expectations; 58% are expecting growth in 2015, with a further 18% were preparing for ‘significant’ growth.

Phil Scott, director of FD Recruit, said: “The survey shows that UK businesses are optimistic heading into 2015, and in great news for the recruitment sector, this means the finance directors are reporting to us that they are prepared to push the button on expansion plans and begin increasing employee numbers.

“At the same time, the stabilising economy is giving employees more confidence to seek out new jobs. We expect employee turnover to rise in 2015 as individuals seek out new and better suited roles, and finance directors are budgeting for this trend.”

Scott added: “The economy has been tough for a number of years, but what the 2015 Forecast reveals is that there is renewed confidence of an upturn in business and finance directors are planning to spend more in 2015.”

In preparation for this success, finance directors are predicting to increase their spend in a number of areas:

Recruitment and staff
45% of respondents expect to increase their spend
30% expect to match the previous year’s spend

Property, offices and buildings
52% of respondents expect to increase their spend
28% expect to match the previous year’s spend

Equipment and machinery
64% of respondents expect to increase their spend
22% expect to match the previous year’s spend

IT and technology
57% of respondents expect to increase their spend
30% expect to match the previous year’s spend

Marketing
45% of respondents expect to increase their spend
23% expect to match the previous year’s spend

Date Posted: January 21st 2015

Posted By: Craig Sansam