Recruiting the right person for the job is so important to employers they are willing to pay over the odds, according to a new report.
The Recruitment and Employment Confederation's annual industry turnover and key volumes survey 2007-08 reveals a record £27 million was spent last year finding the best candidates.
Its findings were produced in collaboration with the recruitment finance division of Lloyds TSB Commercial Finance and Recruitment Consultant magazine.
REC chief executive Kevin Green said: "The huge growth in permanent recruitment turnover shows employers are willing to pay more for the right candidate.
"This remains the case even in the changing employment climate."
Director of the recruitment finance division of Lloyds TSB Commercial Finance, Paul Saunders, said certain sectors - such as risk management - were faring very well.
The REC's Industry Research Unit was founded in 2005 and is the largest dedicated research resource for the recruitment and staffing industry.
Recently Tom Hadley, director of external relations at the REC, said the vote in the European Parliament this week on opting out of the 48-hour working week rule would threaten businesses' flexibility.
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