2011 marks anew for all industries alike. The Staffing Industry is not immune to change, nor should it pretend to be. Since 2009 a lot has changed, and the Staffing Industry is becoming a whole new animal. From Margaret attending the Staffing Industry Executive Forum in Miami, we’ve accumulated some valuable information for anyone and everyone involved with the Staffing Industry.
Staffing Industry Statistics
Business up 20% industry wide
1.7% of today’s workforce works for staffing firms (Pre-Recession high over 2%)
~25% of all jobs are created from the Staffing Industry
Unemployment claims dipping below 400,000 (down from 500,000)
College Graduate unemployment rate about 4.1%
Industrial Staffing has seen 15% growth
Staffing Industry Change
Volatility
Demographics
Customer Sophistication
Emerging Markets
What’s It Mean?
In an industry of change, it’s important to increase knowledge and become nimble. To feed off of change, skills and processes across the industry need to evolve to become able to adapt to such volatility. With increased growth and volatility, contingent staffing will see a rise as business have reported saving 13% in costs by using temporary employees and independent contractors. With contingent staffing on the rise, workforce demographics are changing; retirees are becoming temporaries/independent contractors and are the ideal contingent workers. The Staffing Industry must meet the demographic needs that accompany change in order to succeed; motivation.
Not only does this change bring about new tactics, the Staffing Industry must adapt their fees. With more focus on ROI, the time for high-fees and whopping commissions is over. Flexible and variable costs will allow for more clients, higher returns, and a more desirable product. The customers of the Staffing Industry are becoming picky, but that’s not to say it’s a bad thing. Change demands efficiency, and that is just what we need to strive for. It’s something that every industry is in need of, and who better to implement it than the industry that deals with putting people into chairs. Expanding markets, such as NanoTech, CleanTech, Mobile Services, Cloud Computing, and A.I., are riding the Technology Revolution and are the front-runners in emerging growth.
The Staffing Industry is evolving, and by studying the trends we can streamline for industry-wide success.