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"Craggy rocks" emerging as tide goes out on recruitment market

After posting strong results in FY23, People2people managing director Mark Smith says the recruitment industry now faces a more difficult outlook, and recruiters will have to maximise the efficiency of their processes to ensure they prosper in the future.

"We all rose on the tide of a strong 2022, but now there are some craggy rocks starting to emerge that might sink some people," Smith tells Shortlist, noting he observed the market began to pull back from about Easter this year.

There are still "some pockets of sensational business out there", he adds, but other sectors "have really felt the pain". Nonetheless, he expects the slowdown will be more of a "return to normal" rather than a full recession...