The staffing industry is one of the most important and influential sectors of the economy. It provides a vital link between employers and job seekers, helping to ensure that the right people are in the right jobs. But just how big is the staffing industry?
What are the latest staffing industry statistics? In this blog post, we’ll take a look at the latest staffing industry statistics and explore what they mean for the future of the staffing industry.
Staffing Industry Statistics Overview
The staffing industry experienced a 11% decrease due to COVID-19, but is predicted to bounce back strongly and generate more revenue than before in 2021 and 2022.
This statistic shows that the staffing industry has been affected by the pandemic, but is expected to recover and even exceed its pre-pandemic revenue. This is important for organizations to consider when looking to hire staff, as it shows that the staffing industry is still a viable option for finding and hiring staff.
The agency work sector of the global staffing industry was the largest sector in 2020, making up 98% of the total revenue.
There is a dominance of agency work in the staffing industry, which highlights the need for agencies to remain competitive and up to date with the latest trends.
The UK had the highest rate of agency work penetration in 2021 at 3%, while most other countries saw a decrease in agency work penetration from 2020 to 2021.
This fact provides insight into the current state of the staffing industry, and how it has been affected by the pandemic. It also provides insight into which countries are more likely to rely on agency work, and which countries are more likely to have a decrease in it.
China took the first seat from the United States in terms of employment through agencies, with 19.29 million people employed in 2021, and the United States listed number two with a 2.4 million decrease from 2020.
On this, you can see the current trend of employment through agencies, and how the global pandemic has impacted the industry. It also highlights the importance of China and the United States in the staffing industry, and how they are leading the way in terms of employment.
Randstad became the largest staffing company in the world in 2020, surpassing Adecco, which was the largest one in 2019.
It demonstrates the changing landscape of the industry and the potential for growth for companies that are able to adapt to the changing market. It also shows the importance of temporary staffing departments for the success of staffing companies.
Randstad achieved 10.4 billion euros from its staffing services worldwide in 2022, with France and North America contributing the most at 15% and 14% respectively.
Sourcing is the top recruitment lifecycle challenge in the staffing industry, followed by back office administration and onboarding due to the end of COVID-19 restrictions.
Thus, the staffing industry is still facing challenges even after the end of COVID-19 restrictions and the industry needs to focus on sourcing, back office administration, and onboarding in order to remain competitive.
Candidate and acquisition sourcing is the most important issue for staffing firms, with 36% selection, but decreased by 20% between 2021 and 2022 due to the pandemic.
This foregrounds the need for digital transformation to be prioritized in order to remain competitive in the industry.
50% of staffing and recruitment professionals believe that operating budget and technology investment will increase in the next few years.
Staffing and recruitment professionals are therefore confident in the future of their industry since it will continue to grow and develop.
M&A activity in the staffing industry increased in 2021, registering the highest number of deals (177) in the sector.
Despite the impact of the coronavirus pandemic on the global economy, the staffing industry was able to bounce back and increase its M&A activity. Thus, the industry shows that it is resilient and able to recover from economic downturns.
The global staffing industry is predicted to grow at a compound annual growth rate (CAGR) of 6% between 2021 and 2025.
The industry is expected to experience steady growth over the next few years. This is an important piece of information for anyone interested in the staffing industry, as it provides insight into the potential opportunities and challenges that may arise in the near future. Additionally, this statistic can be used to inform decisions about investments, staffing strategies, and other important aspects of the industry.
The US staffing industry generated approximately $152 billion in revenue in 2020.
It is a major contributor to the US economy. It also serves as a reminder of the importance of the staffing industry in providing employment opportunities to millions of people.
The Asia-Pacific region is expected to be the fastest-growing market for the staffing industry from 2021 to 2027.
The region is ripe for investment and expansion, and that businesses should consider taking advantage of the opportunities available in this region. This could be a great opportunity for staffing companies to expand their operations and tap into a new market.
The healthcare market segment represented 12% of the US staffing industry’s revenue in 2020.
Healthcare is a major contributor to the industry’s revenue, and that it is a sector that should not be overlooked. This is especially pertinent in light of the current pandemic, which has seen an increased demand for healthcare professionals. As such, this statistic serves as a reminder of the importance of the healthcare sector in the staffing industry, and the need to ensure that it is adequately supported.
90% of businesses worldwide use some form of temporary staffing services.
The vast majority of businesses rely on these services to fill their staffing needs, demonstrating the value of these services in helping businesses succeed.
The penetration rate of temporary workers supplied by staffing agencies in the US labor market was about 2.0% in 2020.
Despite the challenges of 2020, staffing agencies were able to provide a steady supply of temporary workers to meet the needs of businesses. This statistic is a testament to the importance of staffing agencies in the US labor market and the value they bring to businesses.
The average tenure of temporary and contract employees in the US in 2019 was 10.8 weeks.
Temporary and contract employees are not staying in their positions for long, which could be a sign of a lack of job satisfaction or a lack of stability in the industry. This statistic is important for understanding the current trends in the staffing industry and can help inform decisions about how to best manage staffing needs.
33% of US-based Fortune 100 companies use recruitment agencies for executive search.
A significant portion of the most successful companies in the US rely on recruitment agencies to find the right executives for their organizations. This is an important point to consider when discussing staffing industry statistics, as it demonstrates the value of recruitment agencies in the hiring process.
56% of staffing agencies provide general services, while 44% are specialized in specific sectors.
Staffing agencies are capable of providing a wide range of services, from general staffing to specialized services tailored to specific sectors. This versatility is an important factor in the success of staffing agencies, as it allows them to meet the needs of a variety of clients.
In 2019, 15 million US employees worked as temporary and contract workers.
This highlights the importance of staffing industry services in providing businesses with the flexibility to meet their staffing needs. It also speaks to the changing nature of the American workplace, where more and more people are relying on temporary and contract work to make ends meet.
In 2019, an estimated 49,000 staffing agencies operated in the United States.
Staffing agencies are a major player in the labor market, providing a valuable service to employers and job seekers alike. It also highlights the importance of understanding staffing industry trends and statistics in order to make informed decisions about staffing needs.
Approximately 89% of US companies use staffing agencies to find executive-level talent.
Vast majority of companies rely on staffing agencies to find executive-level talent, indicating that these agencies are a vital resource for businesses looking to fill top positions. This statistic is a key piece of evidence in understanding the impact of staffing agencies on the US job market.
Staffing firms in the US had a 63% fill rate for temporary and contract worker assignments in 2019.
This statistic is indicative of the staffing industry’s success in providing businesses with the personnel they need to stay competitive and productive.
The global online recruitment market in the staffing industry was valued at $28.68 billion in 2019 and is projected to reach $34.49 billion by 2026.
The global online recruitment market is expected to increase by nearly 20% in the next six years. This is an important piece of information for anyone interested in the staffing industry, as it demonstrates the potential for growth and success in the sector.
Conclusion
In conclusion, the staffing industry is an ever-evolving and growing industry that is constantly adapting to the changing needs of the workforce. The industry is expected to continue to grow and evolve in the coming years, as more businesses and organizations look to outsource their staffing needs.
With the right strategies and resources, staffing companies can continue to remain competitive and profitable in the ever-changing landscape of the staffing industry.
References
1 – https://www.statista.com/statistics/624116/staffing-industry-revenue-worldwide/
2 – https://www.statista.com/statistics/1169531/staffing-industry-worldwide-sales-revenue-sector/
3 – https://www.statista.com/statistics/626622/global-temporary-work-penetration-rates-worldwide/
4 – https://www.statista.com/statistics/190646/total-number-of-agency-workers-worldwide-2009/
5 – https://www.statista.com/statistics/257876/staffing-companies-worldwide-by-revenue/?locale=en
6 – https://www.statista.com/statistics/807202/randstad-staffing-revenue-by-region-country/
7 – https://www.statista.com/statistics/1026833/opinions-of-staffing-firms-worldwide-challenges-recruitment-lifecycle/
8 – https://www.statista.com/statistics/1026447/global-staffing-firms-priorities/
9 – https://www.statista.com/statistics/1026444/global-staffing-firms-expectations-changes/
10 – https://www.statista.com/statistics/789223/mergers-and-acquisitions-staffing-industry-worldwide/
11 – https://www.marketwatch.com
12 – https://www.staffinghub.com
13 – https://www.ciowhitepapersreview.com
14 – https://www.bradleyscottresources.com
15 – https://www.ibisworld.com
16 – https://www.grandviewresearch.com
17 – https://www.statista.com
18 – https://www.fortunebusinessinsights.com
19 – https://www.shrm.org
ZipDo, cited June 2023: Staffing Industry Statistics
