Staffing Services Industry Profile

Report Page Length: 10-12
Last Quarterly Update: 6/21/2021
SIC Codes: 7363
NAICS Codes: 5613
Chapters Include:
Industry Overview Trends & Challenges Industry Forecast
Quarterly Industry Update Call Prep Questions Website & Media Links
Business Challenges Financial Information Glossary & Acronyms
View Full Sample Add To Cart

Excerpt from Staffing Services Industry Profile

Companies in this industry provide temporary staffing, outsourced HR management, and employee placement services. Major companies include Allegis Group, Kelly Services, ManpowerGroup, and Robert Half International (all based in the US), along with Adecco (headquartered in Switzerland) and Randstad (the Netherlands).

The global staffing market is expected to have a valuation of $542 billion by 2024, according to Reportlinker. The factors driving this growth include the rising volume of mergers and acquisitions, declining unemployment rate, increasing industrial production, and growing popularity of the online recruitment process. North America is the fastest-growing market followed by Europe and Asia/Pacific region.

The US staffing services industry includes about 53,000 establishments (single-location companies and units of multi-location companies) with combined annual revenue of about $400 billion. The industry includes executive search services and professional employer organizations (PEOs), which are also covered in separate industry profiles.

COMPETITIVE LANDSCAPE

Companies compete to fill talent pools with skilled employees. Some companies may concentrate on manual labor or administrative skills, while others specialize in engineering, IT, or professional attributes. Firms with a large network of offices tend to have the best advantage due to agreed-upon pricing or markup on services rendered. During economic downturns, clients typically reduce employment of temporary employees before conducting permanent staff layoffs. Pricing competition, which is stiffer among providers of clerical and industrial personnel, may intensify during periods of economic instability.

Other competitive factors include the emergence ...

 
View Full Sample Add To Cart Return to the Industry Profile Menu

Related Profiles

Here are a few profiles related to Staffing Services that you also might be interested in viewing:

Would you or your company benefit from having unlimited access to First Research's industry intelligence tools?

Learn More About Subscription Options