Recruitment and executive search businesses

Our 2016 Recruiters Financial Benchmarking Survey highlights the impact that the EU referendum result has had on business confidence. Appetite for permanent hires has slowed slightly and the headcount growth reported by agencies is also lower than pre-referendum levels.

However, most recruitment agencies reported another year of profit growth in 2016. The labour market continues to present many opportunities for recruiters and throughout 2017 we anticipate seeing a continued upward trend in profitability for those agencies with a focused business strategy.

Our Recruitment and Executive Search Businesses Team, led by Simon Kite, consider themselves to be one of the leading firms in the country in providing thought leadership to recruitment businesses. Our expertise advising recruitment businesses is second to none, advising clients ranging from boutique executive search companies to large multinational groups. We also support the wider industry, including working relationships and joint initiatives with APSCo, TEAM, REC, the FCSA and many of the industry's other key bodies, publications and professionals.

As well as providing clients with a value added and sector-tailored compliance service for audit, accounts and tax, we work closely with our clients to support their goals in the following areas:

  • International expansion 
  • Interpretation of VAT legislation 
  • Implementing share option schemes along with employee taxation and other incentives
  • Profit extraction planning for owners along with succession and exit planning 
  • Corporate finance advice 
  • Umbrella companies, Managed Service Companies (MSC’s) and IR35 compliance

Through our group's thought leadership, we are regularly involved in industry events as well as being accountancy and tax service providers to APSCo and TEAM, which includes the provision of a free technical helpline.

With a large range of recruitment businesses as clients and a pro-active involvement in the industry for many years, we are one of the very few business advisers that genuinely understand the needs of the recruitment sector and the businesses and individuals within it. We were delighted when this was recognised in the 2015 APSCO Awards for Excellence, where we were named as Affiliate Member of the Year. The judges commented:

“Providing a well thought out service, [Saffery Champness] demonstrated a sustained commitment to the recruitment profession and have become trusted advisers and thought leaders. Their national and international advice has helped to enable members’ growth and their commitment to development will ensure that this continues.”

To discuss a specific issue or to find out more, please contact Simon Kite, Partner and Head of our Professional and Consultancy Services Group.