Global Daily News

  • Global staffing revenue totaled $491 billion in 2018, but growth deceleration expected this year: SIA

    The global staffing industry generated $491 billion in revenue worldwide in 2018, with growth of 5% compared to the previous year, according to a new report by Staffing Industry Analysts, the “Global Staffing Industry Market Estimates and Forecast: November 2019 Update.” But revenue growth is expected to decelerate to 2% this year.A global economic slowdown that has been heavily weighted toward trade and manufacturing is driving the deceleration. Additionally, certain countries, such as Germany and Italy, are feeling the effects of regulatory changes that are unfavorable for temporary staffing.The report also noted that three countries generated a majority of revenue last year: the US at 30%, Japan at 13% and the UK at 9%. Eighty-nine percent of staffing revenue was made up by temporary staffing and the remainder by place and search.“We forecast growth to pick up to 3% next year as part of a mild recovery to the current global economic slowdown, though acknowledge a number of external macro-economic and political risks could jeopardize this recovery,” Adam Pode, SIA’s director of research for EMEA and APAC, stated in the report.The full report with information by country is available to corporate members of Staffing Industry Analysts. […]

  • Despite growing calls for gender diversity, the number of women CEOs in the S&P 500 fell by nearly 20% in 2018, according to a report published by The Conference Board, with support from executive search provider Heidrick & Struggles (NASD: HSII).The study examines CEO succession events announced in the S&P 500 in 2018, comparing historical data that The Conference Board has been collecting since 2001.At the end of 2018, women held 22 CEO positions in the S&P 500, down from a record 27 in 2017, according to the report. Last year, just one additional woman joined the CEO ranks: Kathy Warden of Northrop Grumman.“While the number of women CEOs has increased significantly since the report began —  reaching their highest levels in 2017 — the trend has suddenly reversed with the number of women CEOs dropping to pre-2016 levels,” said Bonnie Gwin, vice chairman and co-managing partner of the CEO and board practice at Heidrick & Struggles. “As companies increasingly look inward for their next CEO, companies must do more earlier to develop and train high-potential women leaders and add them to their CEO-ready lists.”The report also noted nonvoluntary departures of S&P 500 CEOs climbed to 30.5% in 2018, up almost eight percentage points from 2017 — #MeToo-related oustings accounted for five of the 12 dismissals — compared to just one CEO departure for personal misconduct in the S&P 500 from 2013 to 2017.“With the rise in CEO departures and as the CEO role continues to evolve, we’ve continued to see the need for boards to proactively plan for a range of scenarios and to make succession planning a high priority,” said Jeff Sanders, vice chairman and co-managing partner of the CEO and board practice at Heidrick & Struggles.The data also found insiders assumed nearly 90% of the open CEO positions in 2018: 52 out of 59 openings. In 2018, departing CEOs had stayed in their roles for an average of 10 years.After hitting a low of nearly seven years following the Great Recession, CEO tenure has increased almost every year over the past decade. It reached the 10-year mark in three of the past four years. […]

  • Global 2020 salaries to increase 2.1%, adjusted for inflation; North America’s increase at 1.1% — Korn Ferry

    While 2020 salary increases across the globe are expected to grow at about the same rate as 2019, slowing inflation will mean an increase in real-wage salary growth, according to a forecast from Korn Ferry (NYSE: KFY).Salaries are predicted to grow at a rate of 4.9% globally in 2020. With a global inflation rate predicted to be approximately 2.8%, that puts the real-wage salary increase prediction at 2.1%, Korn Ferry found.In 2019, the salary growth rate was 5.1%. With global inflation at 4.1%, that meant 2019 real-wage salary increases across the globe were 1.0%.“There is good news for workers in these numbers given real-wage growth is projected to be higher than 2019,” said Don Lowman, Korn Ferry global leader, rewards and benefits. “But the lower rate of inflation embedded in the numbers may also foreshadow expectations of a stalling economy in several key countries, which could, in turn, lead to higher rates of unemployment.”According to the Korn Ferry forecast, the average salary growth in North America is predicted to be 2.8% in 2020, the same as last year. When adjusted for inflation, real wage growth is expected to be 1.1%, up from 0.6% last year.In the US, an average 3% pay increase is predicted, which is the same as last year and the year before. Adjusted for the expected 1.6% inflation rate in 2020, the real wage increase is forecast to be 1.4%, up from last year’s 0.6% increase.Canadian workers will see salaries increase by 2.6%, which is the same as last year; with inflation predicted at 1.9%, the real-wage predicted increase is 0.7%, up from last year’s 0.6%.Employees in Latin America are forecast to see a 4.9% gain in wages; with inflation, the real-wage increase in the region is expected to be 2.0%, up from last year’s 1.3%.The data was drawn from Korn Ferry’s pay database, which contains data for more than 20 million job holders in 25,000 organizations across more than 130 countries. […]

  • Canadian Staffing Index suggests business volume stable in October

    The Canadian Staffing Index remained at a reading of 120 in October, unchanged from its year-ago reading. The index is released by the Association of Canadian Search, Employment and Staffing Services.Index readings reflect the volume of demand for temporary staffing in Canada. They are based upon the number of billed hours reported by a monthly panel of staffing firms. The index, produced by Staffing Industry Analysts on behalf of ACSESS, is not adjusted for seasonal factors.“The index was unchanged in October versus the same month last year in a month with the same number of working days,” said Timothy Landhuis, research director at Staffing Industry Analysts. “The index reading suggests that business volume was stable from a year ago on a days-adjusted basis.&rdquo […]

  • US average weekly wage up 3.8% in Q2; Vermont posts lowest state unemployment rate in October

    The US average weekly wage increased 3.8% year over year to $1,095 in the second quarter, according to data released today by the US Bureau of Labor Statistics.Among the 355 largest counties in the US, Benton County in Arkansas posted the largest year-over-year percentage increase in average weekly wages, up 16.3%. McLean County in Illinois had the largest year-over-year percentage decrease in average weekly wages, down 5.8%; within McLean, financial activities had the largest impact, with an average year-over-year weekly wage decrease of 17.8%.Looking at just the 10 largest US counties, average weekly wages increased year over year in all of them. King County in Washington state experienced the largest percentage gain in average weekly wages at 6.6%. Within King County, the information sector had the largest impact on the county’s average weekly wage gain; average weekly wages increased by $378, or 11.1%, over the year.Separately, the bureau reported yesterday that Vermont posted the lowest unemployment rate among all states in October at 2.2%, according to seasonally adjusted data. Utah and North Dakota followed at 2.5% each.Alaska recorded the highest jobless rate among all states at 6.2% in October.The rates in Alabama (2.8%), California (3.9%), Maine (2.8%) and South Carolina (2.6%) set new series lows. All state series begin in 1976.Unemployment rates fell in October in four states. South Carolina had the largest month-over-month unemployment rate decrease, down 0.3 percentage point in October, closely followed by Alabama and Utah, down 0.2 point each, and Georgia, down 0.1 point.Delaware and Pennsylvania had the only unemployment rate increases, up 0.2 percentage point each. […]

  • World – EFE 2019 concludes today, guest speaker Ramon Vullings tackles staffing in the digital age

    The topic of staffing in the digital age dominated the second day of Staffing Industry Analysts’ Executive Forum Europe 2019. Under the theme of Breakthrough Leadership, the two-day event, which kicked off yesterday, provides insights and strategies to take the industry leadership to the next level.Today’s event launched with multiple concurrent sessions with diverse topics such as ‘Staffing in the New Age’ and ‘Curating Your Contingent Talent’ and continued through the morning with further wide-ranging concurrent sessions.Guest keynote speaker Ramon Vullings, a speaker, author, cross-industry expert and ‘ideaDJ’ will lead the keynote ‘Using Creativity and Innovation to Lead in the Digital Age’. Vullings will address the importance of cross-over cooperation between silos and sectors. Using his own research and based on his experience at PwC Consulting and IBM Business Consulting Services, he will explain how effective collaborations and partnerships can help to find new solutions and help staffing executives lead their companies through the digital age.Executive Forum 2019 will conclude with SIA’s ‘Big Debates’, a lively topical session where three important strategic issues affecting the staffing industry will be discussed.The first day of Executive Forum 2019 launched with a keynote  ‘Leading Today and Leading Tomorrow’ from John Nurthen, Executive Director, Global Research, Staffing Industry Analysts. […]

  • Finland – VMP Group rebrands to Eezy, announces new strategy

    Finnish HR services firm VMP Plc announced that it has rebranded and changed its name to Eezy. The rebranded company also published a new strategy for 2020-2022.Earlier this year Smile Personnel Services, a Finnish human resources services firm and VMP announced that they merged to create a “combined powerhouse” in the HR services industry.“As a result of the merger with Smile and previous acquisitions, the company previously known as VMP has operated under several simultaneous brands until now,” the company stated. “The goal of the name renewal is to combine all services under one brand, Eezy, thus supporting integration. The decision on the new name, Eezy Oyj, will be made at the extraordinary general meeting in December.”The brand Eezy has previously been in the use of the firm’s self-employment services.Eezy’s services include staffing, recruiting, organisational development, and self-employment services. Through the group, approximately 30,000 people are employed every year and serve thousands of companies.The rebranded group’s Board of Directors also approved the new strategy for 2020-2022. The strategy is based on trends that drive staffing services, such as labour shortages and the need for more flexible work. It also addresses the need to prepare the company, built through several mergers and acquisitions, to meet the potential the currently fragmented market offers.“Eezy’s mission is to fulfil working life dreams,” the group said. “Eezy’s vision is to be the most significant actor in Finnish employment and working life, together with its employees and clients. As a strategic goal, this means market leadership in Finland by 2022.”Eezy will focus on the following key actions during the strategy period 2020-2022: Integration: The integration year 2020 sets the ground for future growth and the development of good profitability Growth: Growth and strengthening of market position in all businesses ‘Doers’ decade’: “The well-being of the work community and the individual are key to success,” the group said. Along with the new strategy, Eezy is considering moving to IFRS reporting standards, which would also result in the re-evaluation of the long-term financial targets. The group said that current long-term financial targets remain valid for now.Sami Asikainen, CEO of Eezy, commented, “Through our name change and new strategy we get to jumpstart a new decade, the doers’ decade. We are one of Finland’s largest employers and, with our diverse services, a significant part of the Finnish labour market.”“Together with our 400 professionals, we promise to fulfil the dreams of our employees and clients,” Asikainen. “Courage and professional skill in working positively and respecting diversity are at the heart of everything we do. The staffing services market is a growing billion-euro business, where we want to lead the way. For the past 30 years, we have succeeded in the ever-changing working life, and we intend to continue on this path.&rdquo […]

  • London-based construction recruitment agency Fawkes & Reece announced that it has acquired Southampton-based recruitment firm Alltek.Financial details of the transaction were not disclosed.The acquisition is part of Fawkes & Reece’s plans for national growth and expansions. The transaction is the company’s first acquisition and forms part of its strategy of establishing a stronger geographical footprint in the UK.Alltek provides permanent and freelance recruitment solutions for the building, civil engineering, residential and related sectors across the UK.Founder and managing director of Fawkes & Reece Ray Connolly, commented, “The construction sector has seen some challenges over the last couple of years, but we are committed to a growth plan and to strengthen our presence in the south in order to support our clients. We are fortunate to work with a brilliant customer base, and we are looking at the longer-term strategy in which this acquisition fits perfectly. The combined resources will benefit the Alltek team and customers, but in tandem see the Fawkes & Reece customers benefit as a result of us having a local presence and a team with a proven track record.”Managing director of Alltek Bruce Tyrrell also commented, “Alltek has a proud heritage of integrity, and I could see the value Fawkes & Reece would add to Alltek and how the customers and our team would benefit. It’s a nice feeling to know that after 17 years of hard work, the Fawkes & Reece Group will take the Alltek business even further.”The Fawkes & Reece Group now has over 75 staff focused on delivering full recruitment support across the whole of the South East and West. […]

  • UK – Temporary agency work on the rise, REC finds

    Almost two in five (39%) UK employees have been temporary agency workers, contractors or freelancers at some point in their careers, up from 36% in 2014, according to new research by the Recruitment and Employment Confederation (REC).“Recruitment agencies play an important role,” the REC stated. “On any given day, they place over one million people on temporary assignments. The majority of employees (62%) were satisfied with the service they received while 17% were neutral.”REC’s data also found that 28% of temporary agency workers, contractors and freelancers choose this way of working because they want flexible hours while 36% want to get on the job ladder quickly. Two thirds, or 68%, of people who have worked as a flexible worker, are now in a permanent role, up by 12% from 2014. The research also found that flexible work is a part of people’s lives in all parts of society.Citing data from the Office of National Statistics, the REC found that since 2016 the number of people choosing flexible work because they didn’t want a permanent job has increased. Meanwhile, the proportion opting for flexible work because they couldn’t find a permanent role dropped from one in three (32%) to one in four (25%). Meanwhile, the gender balance among people who have done temporary agency work was 52% female vs 48% male. However, there is a broader difference among contractors and freelancers where men are the majority (63%). Women are more likely to choose flexible work in order to look after children (13% of women vs just 4% of men) and to work more flexible hours (33% of women vs 24% of men).Neil Carberry, Chief Executive of the Recruitment and Employment Confederation, commented, “People are making a positive choice to do flexible work because they want more from their job. We need to celebrate different forms of work that are essential to meeting workers’ needs at critical stages of many people’s lives.“In times of uncertainty, businesses need flexibility to meet demand for skills and people are looking for opportunities to work flexibly or balance work with caring needs,” Carberry said. […]

  • Australia – Labour hire firm hit with class-action lawsuit over underpayments

    Australian law firm Adero Law is bringing a class action lawsuit against Australian labour hire firm Skilled Workforce Solutions and related entities (Skilled (Programmed)), alleging that Skilled (Programmed) misclassified its workers as ‘casual’ employees, rather than permanent employees with the appropriate statutory entitlements.Programmed is owned by Japanese staffing firm Persol.According to the Australian Financial Review, Adero accused Skilled Workforce Solutions of underpaying up to 3,000 casual mine workers between AUD 15,000 (USD 10,200) and AUD 25,000 (USD 17,000) each, in a Federal Court case filed last week.The claimants allege that although they were employed by Skilled as ‘casual’ employees, as they were working to long-term rosters, they were in reality ‘permanent’ employees. Due to that misclassification, the claimants are owed unpaid annual and personal leave entitlements, which they now claim from Skilled.Programmed supplies labour to Yancoal, a coal producer, at two major black coal mines in the NSW Hunter Valley.In January 2019 it was reported that Adero launched class-action lawsuits against Hays and Steller Recruitment, which operates in Australia and New Zealand, over their allegedly unlawful use of casual workers in the mining industry.Adero said it is clear that the ‘black coal industry has made it common practice to casualise a large part of its workforce, to create a two-tier workforce. Many thousands of workers are eligible to join the class action and fight for compensation.’Rory Markham, Adero Law’s Managing Principal, commented, “Adero is bringing the fight to big mining. The industry is failing its employees at a time when it is making the fattest profits. You’ve been told to wait for that permanent shirt, but permanent gigs left this industry five years ago. You now earn less money than miners were getting 15 years ago – but people stay silent and pretend that it’s normal. It is not normal for a casual worker to be paid substantially less than a permanent employee. It is not normal for one worker to earn up to $75,000.00 more per year than another worker doing the same job, on the same roster – just wearing a different shirt.”The law firm is said to be backing the class action on a "no win, no fee" basis.According to the Australian Financial Review, Programmed said it was unable to comment. […]

  • Australia – Seasonally adjusted jobless rate rises in October

    The seasonally adjusted unemployment rate in Australia stood at 5.3% in October 2019, an increase of 0.3% when compared to the same period last year, according to data from the Australian Bureau of Statistics.The total number of unemployed people stood at 726,100 in October 2019, up 17,100 when compared to the previous year.Meanwhile, the number of employed persons on a seasonally adjusted basis stood at 12.91 million, a decrease of 19,000 when compared to the previous year.At the same time, the labour force participation rate stood at 66.0% in October 2019, an increase of 0.4% when compared to the previous year.The Bureau also reported that the number of monthly hours worked in all jobs stood at 1.78 million, up 1.4% when compared to the previous year. […]

  • World – Slowing inflation leads to higher real-wage increases: Korn Ferry

    While 2020 salary increases across the globe are expected to grow at about the same rate as 2019, slowing inflation will mean an increase in real-wage salary growth, according to a forecast from Korn Ferry.Salaries are predicted to grow at a rate of 4.9% globally in 2020. With a global inflation rate prediction of approximately 2.8%, that puts the real-wage salary increase prediction at 2.1%, Korn Ferry found.In 2019, the salary growth rate was 5.1% With global inflation at 4.1%, that meant 2019 real-wage salary increases across the globe were 1.0%.Don Lowman, Korn Ferry Global Leader, Rewards and Benefits, commented, “There is good news for workers in these numbers given real-wage growth is projected to be higher than 2019. But the lower rate of inflation embedded in the numbers may also foreshadow expectations of a stalling economy in several key countries, which could, in turn, lead to higher rates of unemployment.”According to the Korn Ferry forecast, employees in Eastern Europe are set to see an average salary increase of 6.2% in 2020. After taking inflation into account, real wages are forecast to rise by 2.6%, which is up from 2.0% last year. In Western Europe, workers are expected to see an average increase of 2.5% and inflation-adjusted real wage increases of 1.2%. That is up from 0.7% real-wage growth of last year.Wages are predicted to increase by 2.5%in the UK. Combined with a 2.1% inflation rate, real wages are expected to increase by 0.4% That is close to last year’s real-wage increase of 0.6%. Employees in two of Europe’s largest economies, France and Germany, are forecast to see real wage rises of 0.6% and 1.4% respectively.Top-line salaries in Africa are predicted to increase by 7.9% in 2020, and the real-wage increase is predicted to be 2.3% That’s up from 0.9% last year.In the Middle East, wages are expected to increase by 3.6% in 2020, which is the same as last year. However, slower inflation means the real-wage increase is predicted at 1.6%, up from 0.4% last year.Meanwhile, in Asia, salaries are forecast to grow by 5.3% in 2020. With an inflation rate of 2.2%, real-wage salaries are expected to be up 3.1% That’s up from a real-wage increase of 2.6% last year.China’s real-wage forecasted growth for 2020 weakened to 2.9% down from 3.2% last year and 4.2% the year before. Japan saw a real-wage prediction of 0.6%, up from last year’s prediction of 0.1%. Singapore's forecast of 3.6% real-wage increases is up from 3.0% last year.Wages in the Pacific are forecast to grow by 2.5% in 2020, which is the same as last year. Adjusted for inflation, the rise in real wages is predicted to be 0.8%, which is up from last year’s 0.3%.In North America, the average salary growth is predicted to be 2.8% in 2020, which is the same as last year. When adjusted for inflation, real wage growth is expected to be 1.1%, up from 0.6% last year. Employees in Latin America are forecast to see a 4.9% gain in wages. With inflation, the real-wage increase in the region is expected to be 2.0%, up from last year’s 1.3%. […]

  • World – Management Recruitment Group acquires Malaysia-based PPA Global Search

    UK-based real estate and construction recruitment firm the Management Recruitment Group announced that it has made its first international acquisition and expansion into the Asian market with the purchase of Malaysia-based recruitment consultancy PPA Global Search.Financial details were not disclosed.The acquisition will result in a new business, MRG People Asia, which will be based in Kuala Lumpur, Malaysia. It will be led by the current Managing Director of PPA Global Search, Olly Piltz, who becomes Regional Managing Director of MRG People Asia and joins the wider MRG leadership team.Piltz commented, “I am delighted to be part of the team at MRG and have the opportunity to launch and scale MRG People Asia. We have a unique opportunity to work with clients who have both local and global talent requirements”.Director of the Management Recruitment Group, Matthew Evans also commented, “This is a significant milestone in the development of MRG and just the first step in the growth of the business globally. We plan to leverage Olly’s experience and regional knowledge to grow across the region whilst considering other strategic geographies in due course”. […]

Latest Research

  • North America Staffing Firm Predictions

    Key Findings: Predictions from current survey. Staffing executives were asked “What staffing trends do you think will have the most impact on your business over the next 10 years?” The question was open-ended, with no prompts to suggest answers. Predictions were dominated by eight broad themes: An increased role for technology/artificial intelligence (AI) Expansion of gig work and staffing convergence with human cloud A continuation of talent shortages More legislative/regulatory involvement in staffing Increased VMS/MSP use Clients doing more in-house recruiting Negative economic trends Increased use of flexible/remote work Predictions from 2018 survey. Asked about factors inhibiting growth, respondents overwhelmingly said that the main factor inhibiting growth currently was the talent shortage -- both for temporary workers and for internal staff. Respondents expected the talent shortage to recede somewhat over the next ten years, and for other factors -- decline in jobs due to automation, changes in economic trends, and legislation -- to become relatively greater challenges in terms of staffing growth. Executives were also asked about recruiter productivity, as measured by job orders filled per recruiter per week, and predicted it to double over the next ten years. Predictions from 2014 survey. Ten-year predictions were also made in 2014, regarding sources of revenue, recruiting and sales, and potential changes in the staffing model, and are noted in the back pages of this report. Some of these predicted changes are well under way. To access the complete report, please select the link below: North America Staffing Company Survey 2019 Staffing exective predictions 20191120 - You do not have permission to view this object. […]

  • Largest Global Staffing Firms 2019

    The 100 firms on our list of the world’s largest staffing firms have a combined turnover of $225 billion (€190 billion) in 2018. The order of the top three ranked firms has changed this year. With Randstad, as the world’s largest staffing firm based on combined staffing and place and search revenue, followed by Adecco Group and ManpowerGroup. Their combined market share of just under 15%, is very slightly down from last year. The top 10 firms account for 25% of total revenue (2017: 25%), while the top 100 in total represent 46% of the total market, above the previous year (44%) Forty-eight staffing firms on this list are headquartered in EMEA, while 36 are headquartered in North America and 16 in Asia. There are eight companies that no longer make the list, all but one because their revenue is no longer large enough. In total, 37 of the 100 largest firms are publicly listed. Five companies (two of which are publicly listed) specialise in executive search. The complete list can be found from page seven onwards. Our definition of staffing and place & search and the methodology for this report can be found on page twelve. We have ranked companies by revenue for staffing and place & search combined, according to industry custom, but this ranking should not be taken to imply that a firm with a higher rank necessarily provides better service to customers or more value to its stakeholders. Staffing firms vary in degree of financial transparency, and even when forthcoming with information, in some cases data provided was adjusted for greater accuracy and consistency. Therefore, for all firms in this report, revenue shown should be considered an estimation by Staffing Industry Analysts. To download the full report please click below: Largest Global Staffing Firms 20191118 (2) - You do not have permission to view this object. […]

  • Global Staffing Forecast: November 2019

    Key Findings: We estimate that in 2018, the staffing industry generated USD 491 billion of revenue worldwide (EUR 416 billion). Three countries (US, Japan, UK) made up a majority of revenue. 89% of staffing revenue was made up by temporary staffing and the remainder by place & search. SIA projects global staffing revenue to decelerate from growth of 5% last year to 2% this year, driven by a global economic slowdown that has been heavily weighted toward trade and manufacturing. Additionally, certain countries such as Germany and Italy are being impacted by regulatory changes that are unfavorable for temporary staffing. Our global staffing market growth projections are on a constant-currency basis. We forecast growth to pick up to 3% next year as part of a mild recovery to the current global economic slowdown though acknowledge that there are a number of external macro-economic and political risks which could jeopardize this recovery. According to the World Economic Forum (WEF), the most significant risk to the global economy is a slowdown in Chinese economic growth exacerbated by a trade war with the US but also due to the transition from export and investment-led growth to more sustainable domestic consumption-led growth. The WEF also highlights the risk of a rise in global long-term real interest rates, political ‘populism’, US political tensions, a messy Brexit, Italy’s debt problems and heightened geopolitical issues. Given the current global economic slowdown is rooted much more in manufacturing, with the services sector less affected, staffing markets with a greater balance of professional jobs (e.g., US, UK) have generally been less vulnerable to the macro headwinds than those with a dominant share of industrial occupations (e.g., Germany, France, Italy, Belgium). The full report can be downloaded by clicking the link below: Global Staffing Industry Forecast November 2019 20191117 - You do not have permission to view this object. […]

  • Staffing's Top Regulatory Concerns

    Key Findings: This report is based on responses to the following two survey questions: “What current legislation or regulation is having the most negative effect on your business this year?” “What forthcoming legislation or regulation are you most concerned about?” Top legal concerns of North American staffing firms. Three issues dominated, together accounting for half of all reported concerns. The Affordable Care Act (ACA) took the top spot for the sixth year in a row. Compliance with ACA was the main concern, but a few also expressed anxiety about potential changes in the law and/or repeal. Immigration issues, such as uncertainty about changes in rules governing immigration and limitations on H-1B visas, were the second most frequently cited current and upcoming concern. Time off in various forms -- mandatory sick leave (time off for illness), PTO, and family leave -- were also a commonly noted current concern and the top forthcoming concern. Top legal concerns of UK staffing firms. The extension of IR35 Off-Payroll Working rules to private sector businesses using independent contractors from April 2020 was the top concern currently and for the near future. The General Data Protection Regulation (GDPR) (a law intended to strengthen and unify data protection for individuals within the European Union) ranked second in current concerns. Brexit was a lesser concern both currently and upcoming. Top legal concerns of European (excluding UK) staffing firms. The General Data Protection Regulation was the top concern currently. Assignment length limits also accounted for a large portion of current concern responses. Independent contractor misclassification, Brexit and EU legislation regarding temporary contracts were lesser concerns. Note: In many cases, as the average number of mentions for each of the issues was sometimes small (particularly outside of North America), the rank order in the tables should not be given too much weight. Nonetheless, items toward the very top of the tables were typically cited disproportionately. To access the complete report, please select the link below: Global Staffing Company Survey 2019 Concerns about current and upcoming legislation 20191116 - You do not have permission to view this object. […]

  • Largest Global Staffing Firms 2019

    The 100 firms on our list of the world’s largest staffing firms have a combined turnover of $225 billion (€190 billion) in 2018. The order of the top three ranked firms has changed this year. With Randstad, as the world’s largest staffing firm based on combined staffing and place and search revenue, followed by Adecco Group and ManpowerGroup. Their combined market share of just under 15%, is very slightly down from last year. The top 10 firms account for 25% of total revenue (2017: 25%), while the top 100 in total represent 46% of the total market, above the previous year (44%) Forty-eight staffing firms on this list are headquartered in EMEA, while 36 are headquartered in North America and 16 in Asia. There are eight companies that no longer make the list, all but one because their revenue is no longer large enough. In total, 37 of the 100 largest firms are publicly listed. Five companies (two of which are publicly listed) specialise in executive search. The complete list can be found from page seven onwards. Our definition of staffing and place & search and the methodology for this report can be found on page twelve. We have ranked companies by revenue for staffing and place & search combined, according to industry custom, but this ranking should not be taken to imply that a firm with a higher rank necessarily provides better service to customers or more value to its stakeholders. Staffing firms vary in degree of financial transparency, and even when forthcoming with information, in some cases data provided was adjusted for greater accuracy and consistency. Therefore, for all firms in this report, revenue shown should be considered an estimation by Staffing Industry Analysts. To download the full report please click below: Largest Global Staffing Firms 20191118 - You do not have permission to view this object. […]

  • Global Staffing Forecast November 2019

    Key Findings: We estimate that in 2018, the staffing industry generated USD 491 billion of revenue worldwide (EUR 416 billion). Three countries (US, Japan, UK) made up a majority of revenue. 89% of staffing revenue was made up by temporary staffing and the remainder by place & search. SIA projects global staffing revenue to decelerate from growth of 5% last year to 2% this year, driven by a global economic slowdown that has been heavily weighted toward trade and manufacturing. Additionally, certain countries such as Germany and Italy are being impacted by regulatory changes that are unfavorable for temporary staffing. Our global staffing market growth projections are on a constant-currency basis. We forecast growth to pick up to 3% next year as part of a mild recovery to the current global economic slowdown though acknowledge that there are a number of external macro-economic and political risks which could jeopardize this recovery. According to the World Economic Forum (WEF), the most significant risk to the global economy is a slowdown in Chinese economic growth exacerbated by a trade war with the US but also due to the transition from export and investment-led growth to more sustainable domestic consumption-led growth. The WEF also highlights the risk of a rise in global long-term real interest rates, political ‘populism’, US political tensions, a messy Brexit, Italy’s debt problems and heightened geopolitical issues. Given the current global economic slowdown is rooted much more in manufacturing, with the services sector less affected, staffing markets with a greater balance of professional jobs (e.g., US, UK) have generally been less vulnerable to the macro headwinds than those with a dominant share of industrial occupations (e.g., Germany, France, Italy, Belgium). The full report can be downloaded by clicking the link below: Global Staffing Industry Forecast November 2019 20191117 - You do not have permission to view this object. […]

  • Staffing's Top Regulatory Concerns

    Key Findings: This report is based on responses to the following two survey questions: “What current legislation or regulation is having the most negative effect on your business this year?” “What forthcoming legislation or regulation are you most concerned about?” Top legal concerns of North American staffing firms. Three issues dominated, together accounting for half of all reported concerns. The Affordable Care Act (ACA) took the top spot for the sixth year in a row. Compliance with ACA was the main concern, but a few also expressed anxiety about potential changes in the law and/or repeal. Immigration issues, such as uncertainty about changes in rules governing immigration and limitations on H-1B visas, were the second most frequently cited current and upcoming concern. Time off in various forms -- mandatory sick leave (time off for illness), PTO, and family leave -- were also a commonly noted current concern and the top forthcoming concern. Top legal concerns of UK staffing firms. The extension of IR35 Off-Payroll Working rules to private sector businesses using independent contractors from April 2020 was the top concern currently and for the near future. The General Data Protection Regulation (GDPR) (a law intended to strengthen and unify data protection for individuals within the European Union) ranked second in current concerns. Brexit was a lesser concern both currently and upcoming. Top legal concerns of European (excluding UK) staffing firms. The General Data Protection Regulation was the top concern currently. Assignment length limits also accounted for a large portion of current concern responses. Independent contractor misclassification, Brexit and EU legislation regarding temporary contracts were lesser concerns. Note: In many cases, as the average number of mentions for each of the issues was sometimes small (particularly outside of North America), the rank order in the tables should not be given too much weight. Nonetheless, items toward the very top of the tables were typically cited disproportionately. To access the complete report, please select the link below: Global Staffing Company Survey 2019 Concerns about current and upcoming legislation 20191116 - You do not have permission to view this object. […]

  • Most Complex Staffing Markets

    60 different contingent markets assessed across six Continents. Complex markets identified among both emerging and established contingent markets. Egypt and Venezuela are ranked the most complex locations, followed by Brazil. Most complex Asian contingent market is Indonesia followed by Vietnam and China. The least complex markets in our analysis is New Zealand, followed by the United States and the United Kingdom. The markets that have become less complex compared to a year ago are: France, Austria, Finland and Turkey. The markets that have become more complex compared to a year ago are: Chile, Mexico Singapore and South Africa. To download a full copy of the report, click below: Most Complex Contingent Markets Globally 20191115 - You do not have permission to view this object. To download a copy of the interactive Market Complexity Assessment Tool, click below: Market Complexity Assessment Tool 20191115 - You do not have permission to view this object. […]

  • Largest Global Staffing Firms 2019

    The 100 firms on our list of the world’s largest staffing firms have a combined turnover of $225 billion (€190 billion) in 2018. The order of the top three ranked firms has changed this year. With Randstad, as the world’s largest staffing firm based on combined staffing and place and search revenue, followed by Adecco Group and ManpowerGroup. Their combined market share of just under 15%, is very slightly down from last year. The top 10 firms account for 25% of total revenue (2017: 25%), while the top 100 in total represent 46% of the total market, above the previous year (44%) Forty-eight staffing firms on this list are headquartered in EMEA, while 36 are headquartered in North America and 16 in Asia. There are eight companies that no longer make the list, all but one because their revenue is no longer large enough. In total, 37 of the 100 largest firms are publicly listed. Five companies (two of which are publicly listed) specialise in executive search. The complete list can be found from page seven onwards. Our definition of staffing and place & search and the methodology for this report can be found on page twelve. We have ranked companies by revenue for staffing and place & search combined, according to industry custom, but this ranking should not be taken to imply that a firm with a higher rank necessarily provides better service to customers or more value to its stakeholders. Staffing firms vary in degree of financial transparency, and even when forthcoming with information, in some cases data provided was adjusted for greater accuracy and consistency. Therefore, for all firms in this report, revenue shown should be considered an estimation by Staffing Industry Analysts. To download the full report please click below: Largest Global Staffing Firms 20191118 (2) - You do not have permission to view this object. […]

  • Global Staffing Forecast November 2019

    Key Findings: We estimate that in 2018, the staffing industry generated USD 491 billion of revenue worldwide (EUR 416 billion). Three countries (US, Japan, UK) made up a majority of revenue. 89% of staffing revenue was made up by temporary staffing and the remainder by place & search. SIA projects global staffing revenue to decelerate from growth of 5% last year to 2% this year, driven by a global economic slowdown that has been heavily weighted toward trade and manufacturing. Additionally, certain countries such as Germany and Italy are being impacted by regulatory changes that are unfavorable for temporary staffing. Our global staffing market growth projections are on a constant-currency basis. We forecast growth to pick up to 3% next year as part of a mild recovery to the current global economic slowdown though acknowledge that there are a number of external macro-economic and political risks which could jeopardize this recovery. According to the World Economic Forum (WEF), the most significant risk to the global economy is a slowdown in Chinese economic growth exacerbated by a trade war with the US but also due to the transition from export and investment-led growth to more sustainable domestic consumption-led growth. The WEF also highlights the risk of a rise in global long-term real interest rates, political ‘populism’, US political tensions, a messy Brexit, Italy’s debt problems and heightened geopolitical issues. Given the current global economic slowdown is rooted much more in manufacturing, with the services sector less affected, staffing markets with a greater balance of professional jobs (e.g., US, UK) have generally been less vulnerable to the macro headwinds than those with a dominant share of industrial occupations (e.g., Germany, France, Italy, Belgium). The full report can be downloaded by clicking the link below: Global Staffing Industry Forecast November 2019 20191117 - You do not have permission to view this object. […]

  • Most Complex Staffing Markets

    60 different contingent markets assessed across six Continents. Complex markets identified among both emerging and established contingent markets. Egypt and Venezuela are ranked the most complex locations, followed by Brazil. Most complex Asian contingent market is Indonesia followed by Vietnam and China. The least complex markets in our analysis is New Zealand, followed by the United States and the United Kingdom. The markets that have become less complex compared to a year ago are: France, Austria, Finland and Turkey. The markets that have become more complex compared to a year ago are: Chile, Mexico Singapore and South Africa. To download a full copy of the report, click below:Most Complex Contingent Markets Globally 20191115 Most Complex Contingent Markets Globally 20191115 - You do not have permission to view this object. To download a copy of the interactive Market Complexity Assessment Tool, click below:Market Complexity Assessment Tool 20191115 Market Complexity Assessment Tool 20191115 - You do not have permission to view this object. […]

  • APAC Listed Staffing Firms Q219 Financial Results

    Key Findings: Revenue in the reported 38 publicly traded staffing firms in the Asia Pacific region rose by a median of 5.5% during Q2 2019, compared to the same period in 2018. Among the companies included in this report, six reported a decrease in revenue. The median gross margin stood at -0.6% compared to last year. Median net income rose by 9.4%. Due to the varying nature of financial reporting styles across APAC, some companies reported their revenue in only half years and other diverse periods. Japan - The report includes 29 Japanese-based staffing companies. The Japanese companies reported year-on-year median revenue growth of 5.5%. Three firms reported a decrease in revenue. Australia – The report included job board SEEK. Two Australian staffing firms showed a decrease in revenue. Median revenue was up by 10.1% when compared to the previous year. The remaining companies are headquartered in China, New Zealand, Singapore and Taiwan. To download the full report, click below: APAC Q2 2019 - You do not have permission to view this object. […]