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Great report from my colleague Kevin Chen on the players in the US staffing market. Very interesting if you operate there or keen to see how the US market works

Business is good for those doing good! Loving the team at Advanced Resources! You don't have to be the largest to provide the highest quality results. For us, it's about one person or opportunity at a time. For those involved in the hiring process or transitioning to a new role, they don't care about the size of our firm, they simply want to know that we care. As Darryl Henry said at a recent presentation, "They don't care how much you know, until they know that you care." At Advanced Resources, "It's Personal". #ItsPersonal #THRIVE #CoreValues #Purpose #MisionDriven #EmployeeFirst #PeopleFirst #GivingBack #Community #HRJobs #HR #HumanResources #AccountingJobs #FinanceJobs #Staffing #ProfessionalServices #Consulting #Quality #AdvancedResources

Staffing Industry Analysts (SIA) is excited to announce the release of it's Largest Staffing Firms in the United States: 2024 Update research report. ▶  This report highlights 241 companies that generated at least $100 million in US staffing revenue in 2023. Added together, these firms generated $145.2 billion in such revenue, making up 76.0% of the market by our estimates. ▶ The US staffing industry continues to be a fragmented industry with many competitors. The largest firm in the US market, Allegis Group, held 5.3% of the market last year while the combined 241 companies in this report represented 76.0% of the market. ▶ Among the companies in this report, healthcare and IT temporary staffing were the most common primary revenue segment, with 69 firms (29% of the total 241 listed) reporting each of the segments as their largest, followed by industrial (58 firms, 24%). ▶ 28 staffing firms generated $1 billion or more in US staffing revenue last year. Added together, these companies generated $82.8 billion in such revenue. SIA members can download the full report here >> https://lnkd.in/eZ6wQTkA Research Analysts: Kevin Chen #research #staffing #staffingmarket #recruitment #us

Insights from the 2024 State of Staffing Report! The 2024 State of Staffing report delivers invaluable insights into an industry in transition, setting the stage for future growth. Key findings: In 2023, many employers scaled back hiring to cut costs post-pandemic. Nearly 50% of respondents saw no business growth, with 30% experiencing contraction. However, 35% reported significant growth (11% or more). Fast-growing agencies thrived by leveraging technology, investing more in software, and automating recruitment processes. Looking ahead, nearly all respondents anticipate growth this year, with over half expecting double-digit increases. To achieve this, companies plan to adopt new technology and enhance candidate experience. Top challenges identified: 1. Client acquisition & sales 2. Economic uncertainties 3. Talent acquisition The report also highlights the trend of businesses opting to hire directly over using staffing agencies. Embracing new technology and focusing on candidate experience are seen as crucial strategies for future success. Gain a comprehensive understanding of the staffing industry's current state, with insights from agency leaders, a follow-up survey with recruiters, and a separate survey exploring workers' job preferences. #StaffingIndustry #Recruitment #Technology #Growth #2024Insights #FutureOfWork https://lnkd.in/gD8n7GhB

As the CEO of Whippy, I’m proud to share the results of this extensive report conducted by our team. The findings are both eye-opening and a call to action for all of us in the staffing industry. We tested 200 staffing firms by applying as the perfect candidate, and the results were surprising—40% of firms never engaged with us. This isn't just a missed opportunity; it's a critical gap that needs addressing. When top talent reaches out, the clock is ticking. An average response time of 76 hours, or just over three days, isn't just slow—it's potentially costing firms the best candidates. At Whippy, we’re committed to helping staffing firms close this gap. Our goal is to ensure that no candidate, especially the "perfect" one, slips through the cracks. I want to personally congratulate the top performers and honorable mentions—your dedication to timely and effective communication sets a standard we all should strive for. This report is a must-read for anyone serious about talent acquisition and staffing. I encourage everyone to take a closer look, reflect on your own practices, and see where improvements can be made. See the results for yourself here 👉 https://lnkd.in/dgq4avaC Special thanks to Erel Papo for applying and bringing all this data to life 🙏 #Staffing #IndustryInsights #StaffingReport

Here are the top three recent developments in the staffing industry: Economic Growth and Staffing Industry Outlook: The staffing industry is showing signs of cautious optimism for 2024. Despite the challenges faced in recent years, such as slowed growth and decreased demand for staffing services, many staffing leaders expect a rebound as economic conditions stabilize. About 91% of staffing firms anticipate growth, with a focus on client acquisition and revenue increases as top priorities Job Market Trends: In July 2024, nonfarm employment in the U.S. increased by 114,000 jobs, with significant gains in healthcare and construction sectors. However, this growth is below the 12-month average, indicating a slow pace of job creation. Additionally, private sector employers added 122,000 jobs in July, though pay growth has continued to slow down, highlighting ongoing economic challenges Technology and Staffing: The integration of technology, especially AI, is becoming increasingly crucial in the staffing industry. Firms are investing in building the right tech stacks to improve efficiency and competitiveness. This trend is driven by the need to overcome challenges in client acquisition, talent sourcing, and staying ahead of the competition #StaffingIndustry #EconomicGrowth #ClientAcquisition #JobMarket #EmploymentTrends #HealthcareJobs #AIDriven #StaffingTech #TalentAcquisition

It's official! I was pleased to read that the service industry grew in November posting it's best output since July. The recovery is on it's way driven by rising business confidence and new orders. According to the survey carried out by S&P Global, the index rose to 50.9 up from 49.5 in October. Anything over 50 indicates growth. The survey also indicated that service companies had increased their hiring last month and reported a modest improvement in business activity expectations for 2024. So what does that mean for the staffing sector? If businesses are predicting growth in 2024, then there is normally an appetite for increased headcount. And that can only mean good things for our sector. It also supports the decision made by many recruitment firms who have started to scale up this quarter. These firms are preparing to take advantage of the better financial climate. Is your firm hiring right now? If not, it might be missing a trick. #recruiters #recruiterlife #executivesearch #career #rec2rec Follow me 🙏🏼 Click on my bell 🔔 Simon Gee 07961 411941 or simon@hrands.com

📊 Staffing Agencies: The Financial Pulse of the Job Market 💼 Did you know? The staffing industry isn't just about matching talent with opportunities – it's a powerful economic indicator! 📈 🔑 Key financial insights: ▪ Global staffing market reached $495 billion in 2022 (SIA report) 🌎💰 ▪ US staffing revenue hit $185.5 billion in 2023, up 14% from 2022 🇺🇸📈 ▪ Temporary and contract staffing make up 89% of the industry's revenue 📊 ▪ Healthcare staffing grew by 21% in 2022, reaching $39.8 billion 🏥🚀 👥 For businesses: Staffing agencies can help manage labor costs and adapt to market fluctuations quickly. 🌟 For job seekers: IT and engineering are projected to be the fastest-growing segments in 2023-2024. What's your take on the financial impact of staffing agencies? Share your thoughts below! 💭 #StaffingIndustry #FinancialInsights #JobMarketTrends #CareerGrowth #IT #Finance #Data #Recruiting

✨ The US market is projected to generate $207.2 billion in revenue in 2024, over 4x the UK market ✨ An encouraging sign for US staffing industry growth in 2024 is that it is spread out relatively equally across many different segments. Turning attention to tech and IT staffing in the US... 🖥️ This segment is expected to grow by 5% to equal $43.2 billion! 🤯 According to the latest data from Staffing Industry Analysts, bill rate growth across a wide variety of IT occupations is helping offset the overall decline in volume witnessed in 2023. Strong demand for highly skilled IT positions led to an increase of 3.3% in bill rates during the first half of 2023. If you're recruitment agency operates in IT in the US, let me know how you've found the market this year? #itstaffing #itrecruitment #techtrends #recruitmentindustry #usstaffing

🌟 Breaking News Update! 🌟 In a recent report by Staffing Industry, it's revealed that a significant number of middle-market firms are preparing to ramp up their hiring activities. This surge in recruitment signals a positive shift, reflecting increased confidence in the market's resurgence. 📈 #HiringTrends #MarketRecovery #StaffingIndustry