The staffing industry has been growing nearly 2x faster than the economy since the end of the Great Recession. Looking forward, year-over-year staffing job growth and market size is expected to slightly slow down in 2019 and 2020.
What The Statistics Show
Total U.S. staffing market will rise by 3% in 2019 to reach $152 billion.
Revenue in the US temporary staffing market is projected to grow 3% this year $152 billion in revenue, according to the new “US Staffing Industry Forecast” released by Staffing Industry Analysts.
SIA also noted a headwind created by a scarcity of labor supply.
The report states seeing broadly (but not universally) reported signs of bill rate increases. Bill-rate increases supporting revenue growth and helping to offset any declines in volume due to labor scarcity.
Projected growth forecast is 2.4% for 2019 and 1.9% for 2020.
The Staffing industry has been growing nearly 2x faster than the economy, on average, since the end of the Great Recession. When the economy is advancing, staffing industry growth outpaces GDP.
Research proves that temporary and contract staffing employment is a coincident economic indicator of GDP.
Reputation Management Statistics
Statistics show reputations matters more then ever, even more than price when choosing clients from staffing firms.
Nearly 75% of candidates say a staffing firm’s negative reviews have a negative impact on their likelihood to apply for an open position.
When looking for a reputable staffing company, statistics show quality candidates rely on online reviews when choosing whether or not to apply. If you want quality candidates, it’s important to maintain your online reputation.
Staffing firm clients are 2x as likely to pick a staffing firm based on reputation rather than on low price.
As it turns out, price plays a very low factor in choosing firms to work with. Reputation and the quality of your candidates play a bigger factor than price. It’s no longer about the money, it’s all about reputation.
Staffing Technology Statistics
Staffing firms not leveraging technology will end up paying the price both in terms of efficiency and lack of candidates.
84% of staffing employees think lacking in technology is negatively impacting their business.
Employees of staffing firms say they would be able to work much more efficiently with updates in technology.
76% of staffing clients and candidates think a staffing firm using the most up-to-date technology differentiates them from the competition.
Lacking in technology will ultimately hurt your business. If you want to stand out, statistics show staying up-to-date with technology will help you stand out from your competition.
At Flex Tech, we keep up with the trends
As a top staffing and training firm in Texas, we incorporate the latest trends to help make the process more efficient for both our candidates and recruiters.
Contact us today to see how you can benefit by working with Flex Tech.