Staffing Industry In America; How Far Will You Go?

 
Staffing firms operate within the business services industry, finding workers for client companies. Unlike recruitment companies, staffing firms primarily deal with temporary and contract job positions, although not necessarily exclusively. Staffing firms find temporary employees to fill job positions for client companies which require staff for short term work assignments. These positions, which are usually for lower skilled jobs, have vacancies available for a variety of reasons, such as, maternity leave, short term projects or periods of high demand in the company. Despite the candidate working within a client company, they often remain an employee of the staffing agency. This is not the case in all positions, as the employee may go on to be hired permanently by the client company.

The global staffing industry generated 428 billion U.S. dollars in 2016. In that same year, the United States’ staffing and recruiting industry sales reached 150 billion U.S. dollars, 85 percent of which was generated in the temporary and contract employment sector. In the United States, temporary and contract employment totaled 14.5 million in 2016, down from 15.6 million in 2015, the highest employment figure recorded since the year 2000. While employment figures have been sporadic between 2000 and 2016, the average length of temporary and contract assignments have generally risen over the period from 9.7 weeks in 2000 to 11.5 weeks in 2016.

Despite the U.S. holding a large share of the global staffing industry, the largest staffing firm in the world is not American; it is the Swiss company. In the year 2016 revenue estimates were quoted to 22.5 billion U.S. dollars, with the largest share of its business generated in the industrial sector. In the same year one of largest U.S. Company generated an estimate of 19.6 billion U.S. dollars in revenue placing approximately three million people into permanent, temporary and contract positions worldwide during the same year.

Reports showcase those companies that have grown their business to the top of the industry in terms of revenue and growth. Staffing Industry Analyst shave estimated that 144 companies comprising the list generated combined revenue of $80.0 billion in 2016 and their success illustrates the continued growth and adoption of staffing in the US.”

Profit shares can be located through stocks, economic growth, and analyst reviews.

Top five contenders in 2016 ranked an estimated value in revenue and economic growth from $8.93 billion to $3.40 billion.

Reports showcase the continuing success of many types of staffing firms in the US, each with their own strategic niche. A particularly bright spot in 2016 was the impressive growth among healthcare staffing firms, consistent with the trends in research. Reports have included an estimate of 26 healthcare-focused staffing firms, up from 20 firms, whereas reports from two years ago showed an estimate of 17 firms.

Industrial and IT skill segments were among the largest temporary staffing in economic growth and revenues. Reports define “staffing revenue” as revenue related to temporary staffing, direct hire/permanent placement, retained search, and temp-to-hire conversion fees.

{This text provides general information and assumes no liability for the information given being complete or correct. Due to varying update cycles, statistics can display more up-to-date data than referenced in this article.}