Permanent sales took an unsurprising hit in the lead up to the Federal Election. However, the collective data for 2018-19 paints a brighter picture – and points to a positive future.
In the lead up to the Federal Election, the widely speculated change of government caused unrest in the recruitment industry. The prospect of economic change had a noticeable impact on sales, particularly in the permanent market. In this post, we look how permanent sales were impacted in the months preceding the election, plus provide a broader view of permanent sales from May 2018 to May 2019.
Moving Annual Total (MAT) show positive growth
Most growing recruitment agencies tend to focus on monthly data. While it’s important to look at monthly metrics, annual data offers a more accurate view of what’s really happening in your business.
A reliable method of measuring progress is to look at your Moving Annual Total (MAT). MAT gives you the sum value of sales over a 12 month period. By taking monthly fluctuations out of the equation, MAT provides a true indicator of the market over the longer term.
The chart below provides a different view of permanent sales in 2018-19 using the MAT method. While the data confirms a decrease in permanent sales just before the election, it also shows 7% growth over the course of the 12 month period from May 2018 to May 2019.
With the election now behind us and a fresh financial year underway, the permanent market is poised for another record breaking year. Is your recruitment agency ready to capitalise on opportunities?
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