Global Daily News

  • California lawmaker brings own ballot measure to overturn AB 5 independent contractor law

    A California lawmaker is working to bring a ballot measure before California voters in 2020 to repeal AB 5, the state law that aims to make it more difficult to classify workers as independent contractors. California Assembly member Kevin Kiley, R-Rocklin, announced the measure recently and there is a website to collect voter signatures to place it on the ballot. An earlier effort by Kiley to kill AB 5 failed in the California legislature.Kiley’s effort is separate from a measure by human cloud firms Uber Technologies Inc. (NYSE: UBER), Lyft Inc. (NASDAQ: LYFT) and other firms that would ensure rideshare and delivery drivers can remain independent contractors despite AB 5. That measure has already qualified for the Nov. 3 election.Kiley told Politico that his measure would be more broad than the one backed by Uber and Lyft. […]

  • Employees more confident they will retain jobs, but productivity hasn’t recovered to pre-pandemic levels

    Employees grew more confident in their ability to retain their jobs even as the Covid-19 pandemic wore on, according the ADP Research Institute, which conducted surveys of employees during the first eight weeks of the pandemic.Employees were most concerned about losing their jobs in the third week. However, 70% of workers in the last two weeks of the survey expected they would retain their job for at least the next month.However, productivity does not appear to have recovered to pre-pandemic levels, according to the ADP Research Institute. Working hours, the frequency of communication with others and the ability to complete tasks declined quickly and did not bounce back.Other survey findings: 17% of workers were required to work from home in the first week and rising to one-in-four during the second week. In the first few weeks of the crisis, stress levels were high as workers struggled with childcare, fear of the virus, technical issues and trouble completing their tasks. By week three and four, these issues became less likely to impact their work. Some elements such as stress, work-life balance and ability to connect with others did not improve, but they became less impactful on their work. 62% of those who retained their jobs said the pandemic has had a negative impact on their personal finances or they expect it to. […]

  • Covid-19 impact will be long lasting: Congressional Budget Office

    The impact of the Covid-19 pandemic will be long term, according to information from the Congressional Budget Office. It reported that a calculation in May found real gross domestic product between 2020 and 2030 will be $15.7 trillion less than a similar calculation in January.In its May calculation, the Congressional Budget Office estimates social distancing measures sparked by Covid-19 peaked in April. Real GDP will contract by 37.7% at an annual rate in the second quarter and there will be almost 26 million fewer people employed than in the fourth quarter of last year.By the fourth quarter of 2021, real GDP is projected to be 1.6% lower and the unemployment rate 5.1 percentage points higher when compared with the fourth quarter of 2019.The CBO also projects the labor market will improve after the third quarter as social distancing diminishes but the improvements will not make up for earlier losses.It expects the unemployment rate to be 15.1% in the second quarter, rising to 15.8% in the third quarter. It had been 3.8% in the first quarter.The full May report is available online. […]

  • Back to work: Keeping staff and temporary workers reassured and safe (Staffing Industry Review)

    As states begin lifting restrictions that forced office closures, staffing firms in particular face a myriad of legal pitfalls and logistical challenges as they recall employees to the office — both their own as well as temporary workers to send on assignments, writes Todd Wulffson in a Staffing Industry Review Online Showcase article. Wulffson is a partner with Carothers DiSante & Freudenberger LLP, an employment, labor and immigration law firm. For the full story, click here. […]

  • Freelancers say they are losing thousands due to scams (NBC)

    Freelancers say they are being scammed out of thousands of dollars while going through online staffing platforms, NBC reported. The workers are falling victim to an updated version of a classic check scam where they are defrauded while looking for work-from- home options during the pandemic and economic downturn. Scammers have been operating on Upwork but they turn to Freelancer.com to find users willing to share their Upwork credentials to pull off the scam, according to NBC. […]

  • Russia – HeadHunter first quarter revenue and profits rise despite Covid-19 impact on business activity

    Moscow-based job board operator HeadHunter Group plc (HHR: NSDQ) reported revenue yesterday of RUB 1.99 billion (USD million) for the first quarter ended 31 March 2020, an increase of 18.6% compared to the previous year.HeadHunter launched its IPO last year and began trading shares on the US Nasdaq Stock Market.HeadHunter said its 2020 financial results were affected by the decrease in employer and candidate activity on its platform due to the Covid-19 crisis and associated government measures from the mid-March 2020, resulting in decrease in revenues, partly offset by its cost-cutting initiatives.“We see no specific immediate impact of Covid-19 on our financial condition as of March 31, 2020,” the company stated. “We remain fully operational during this pandemic, as nearly all of our employees are successfully working from home.” RUB millions) Q1 2020 Q1 2019 Change Change (USD millions) Revenue 1,990 1,678 18.6% 28.9 Adjusted EBITDA 1,045 774 35.1% 15.1 Net Income 412 239 72.5% 5.9 Revenue was up 18.6% primarily due to the increase in revenue in the group’s Russia segment.The company organises its operating segments based on the geography of its operations. The operating segments include “Russia,” “Belarus,” “Kazakhstan” and other countries. As each segment, other than Russia, individually comprises less than 10% of the group’s revenue, for reporting purposes, HeadHunter combines all segments other than Russia into the “Other segments” category.HeadHunter’s Russia segment revenue was up 18.2%, driven by an increase in prices which resulted in an increase in average revenue per customer across all its customer segments. In the segment it reported an increase of 10% in the number of paying customers in its small and medium accounts segment and an increase of 12% in the number of paying customers in its key accounts in other regions of the Russia segment.Meanwhile revenue in the ‘Other segments’ was up 23.8%.The growth in the group’s net income and adjusted EBITDA was mainly driven by the increase in revenue.“Despite the current global slowdown in business activity, one of the most significant in modern history, I am very proud of how rapidly and efficiently HeadHunter has adapted to the evolving situation to continue providing consistent service to our customers” Mikhail Zhukov, CEO of HeadHunter Group said.“In late March, we started observing a significant drop in recruitment activity from both candidates and employers, which became even more evident after the institution of Russia’s country-wide lockdown on 25 March 2020. Nevertheless, since mid-April we have seen positive dynamics gain a foothold and activity recovering strongly into late May,” Zhukov said.Looking ahead, Zhukov said, “Various industries are gradually resuming operations and employees returning to work all over the country. We expect business sentiment to be muted until there is more visibility on the consequences for the whole economy of the pandemic and so the outlook for the labor market remains uncertain.”“However, the trends that we are seeing give us confidence that as business activity returns towards normal, HeadHunter will continue leveraging its strengths to retain and increase market share,” Zhukov said. “In addition, we believe that the current crisis will give a strong push towards further digitalisation across a broader number of business needs and life patterns, including recruitment. We are confident in our 100% online business model, supported by ample financial resources and strong market position, which we believe will enable us to capture exciting opportunities in the future.”In trading yesterday On Monday, HeadHunter Group shares closed at USD 21.27, up 13.93% on the day and 22.99% below its 52-week high of USD 27.62, set on 26 February 2020. Based on its current share price the company has a market value of USD 1.06 billion. […]

  • UK – SIA’s UK Coronavirus Playbook: survive — and thrive — through the pandemic

    The coronavirus pandemic has dealt a sudden and severe economic shock to the global economy, and the UK staffing industry has been acutely impacted. Staffing Industry Analysts’ recently published “Coronavirus Playbook for UK Staffing Firms” report can help staffing providers assess the altered landscape and make critical strategic and tactical decisions to protect their workers and grow their businesses.The coronavirus pandemic and lockdown that began in March precipitated a steep decline in permanent placements across the UK. The rate of contraction was by far the steepest in the last 22-years according to the Recruitment and Employment Confederation (REC). Temporary company closures, social distancing and uncertainty around the outlook led to widespread recruitment freezes and delayed hiring decisions.In April both permanent placements and temp billings fell at rates far exceeding those seen at the height of the global financial crisis. Business confidence in hiring has improved compared to early April. However, confidence levels remain negative overall in May.The UK Coronavirus Playbook details actions staffing firms can take to survive, navigate and thrive during the Covid-19 global pandemic, which are organized into three key themes — protecting your workers, protecting your business and growing your business. The focus areas range from health and safety practices to financial management techniques to strategic positioning for the future.Protecting workers: Monitor evolving federal and state health guidelines, as well as leverage the growing body of private-sector knowledge and best practices for reducing virus spread in various industry and workplace settings.Protecting your business: Prioritize the liquidity and solvency of a business via disciplined financial management, cost control, collections and taking advantage of government aid.Growing your business: Investigate how to pivot operations to serve new clients or deliver new services to existing clients. Staffing firms should also consider making technology investments to further adapt their businesses.The report also features benchmarks from 14 UK publicly held staffing firms, targeted data and additional insights into how firms have navigated past recessions and recoveries.Some staffing industry executives have pointed out that times of disruption can be among the best times to roll out new technology, new processes and new business models. “The reason is that because the status quo has been disrupted, people are having to innovate on a daily basis and rebuild their routines, making them much more open to change,” the report states. “Put another way, there is less resistance from organizational inertia and the incentives have flipped for key stakeholders.”SIA corporate members can access the full report online.&nbs […]

  • UK – MERJE Recruitment reports increase in full year revenue

    Privately-held UK-based specialist recruitment consultancy MERJE reported record revenue of £10.06 million for the full year 2019, up from £8.60 million in 2018.Revenue was up due to a 22% increase in contractor placements.According to The BusinessDesk, pre-tax profits for the FY 2019 were £833,000, compared with £958,000 in 2018. This followed significant investment and expansion in 2018 into a new headquarters in Whitefield in Greater Manchester, which was designed to allow for the future growth of the business as new services are launched.During the full year MERJE increase its employee headcount by 10% as the business launched a Finance Practice division to strengthen its position within accountancy practices.Andrew Varty, managing consultant of the finance and audit team, said, “We have observed a continuing demand for our contractor services by our clients who look to quickly and seamlessly draft in niche expertise to provide support with projects and skills gaps.“While we anticipated major challenges for clients on account of IR35, the delay has enabled continued stability during present circumstances,” Varty said. “We predict that Covid-19 and the current climate will result in organisations further requiring the specialist services that contractors are able to provide.”MERJE also announced that it appointed a new Head of Business Development at the start of 2020. The aim of Michael Brennan’s appointment is to assist MERJE on its financial trajectory amid strategic plans to expand the company’s national reach.The company focuses on placing candidates in roles across many sectors within the areas of compliance, credit risk & analytics, customer contact, finance & audit, financial crime & fraud, procurement and risk management.&nbs […]

  • Spain – Majority of workers consider their company’s training insufficient for future challenges

    The majority, or 61%, of workers in Spain say the training they receive from their companies does not adequately prepare them to face the challenges of the future, according to data from Randstad Spain.When broken down by sector, Randstad found that the highest percentages for those who consider their company’s training inadequate for the challenges of the future were workers in the telecommunications sectors (76.9%), aeronautics and automobiles (76.5%) and education (67.6%).The study found that 91% of workers in Spain want to receive training, even from other sectors other than the one they work in, in order to reinvent themselves and avoid unemployment. Meanwhile, when it comes to automation, nearly half of workers in Spain (49%) do not trust their companies to support them in the event that their position is automated. This means that one in two employees do not expect their company to have a job retraining plan in the case of automation.Randstad’s research also covered the perception of technological gap between generations. Most, or 77%, of Spanish professionals believe that companies prefer to hire under-34s for their greater ‘mastery of technology.&rsquo […]

  • World – More than one in six youth out of work due to Covid-19: ILO

    More than one in six young people (aged 15-24) worldwide have stopped working since the onset of the Covid-19 pandemic while those who remain employed have seen their working hours cut by 23%, according to International Labour Organisation (ILO). According to the latest ILO Monitor: COVID-19 and the world of work, youth are being disproportionately affected by the pandemic, and the substantial and rapid increase in youth unemployment seen since February is affecting young women more than young men.“The pandemic is inflicting a triple shock on young people,” the ILO stated. “Not only is it destroying their employment, but it is also disrupting education and training, and placing major obstacles in the way of those seeking to enter the labour market or to move between jobs.”At 13.6%, the youth unemployment rate in 2019 was already higher than for any other group. There were around 267 million young people not in employment, education or training (NEET) worldwide. Those 15-24 year olds who were employed were also more likely to be in forms of work that leave them vulnerable, such as low paid occupations, informal sector work, or as migrant workers, according to the report.ILO Director-General, Guy Ryder said, “The Covid-19 economic crisis is hitting young people, especially women, harder and faster than any other group. If we do not take significant and immediate action to improve their situation, the legacy of the virus could be with us for decades. If their talent and energy is side-lined by a lack of opportunity or skills it will damage all our futures and make it much more difficult to re-build a better, post-Covid economy.”The report calls for urgent, large-scale and targeted policy responses to support youth, including broad-based employment/training guarantee programmes in developed countries, and employment-intensive programmes and guarantees in low- and middle-income economies.The report also says that rigorous testing and tracing) of Covid-19 infections, “is strongly related to lower labour market disruption and substantially smaller social disruptions than confinement and lockdown measures.”ILO’s report also updated the estimate for the decline in working hours in the first and second quarters of 2020, compared with the fourth quarter of 2019. An estimated 4.8 per cent of working hours were lost during Q1 2020, equivalent to approximately 135 million full-time jobs, assuming a 48-hour working week.The estimated number of jobs lost in Q2 remain unchanged at 305 million. From a regional perspective, the Americas (13.1%) and Europe and Central Asia (12.9%) present the largest losses in hours worked in Q2 2020. […]

  • Australia – Workplace watchdog fines former restaurant operator for underpaying workers

    Australia’s workplace watchdog the Fair Work Ombudsman has fined the former operator of a Turkish restaurant in Tasmania, Australia for underpaying its workers.The Ombudsman secured a total of AUD 100,000 (USD 68,526) in penalties in the Federal Circuit Court after four employees were underpaid in Anatolia Restaurant in North Hobart in Australia for underpaying its workers.The Court fined Oya Waechter, who formerly owned and operated Anatolia Restaurant in North Hobart, Australia AUD 78,000 (USD 53,450) for underpaying the workers a total of AUD 32,411 (USD 22,210). Her husband, Peter Waechter, has been penalised AUD 22,000 (USD 15,075) for his involvement in some breaches, including pay slip failures, while his wife owned the restaurant.The Ombudsman discovered the underpayments in 2016 when it launched an investigation following a request for assistance from the workers. The regulator started action in 2017.Between February 2015 and June 2016, wages were often paid late, or not at all, and amounts that were paid often did not reflect hours worked. This led to a significant underpayment of minimum wage rates, overtime rates, casual loadings and penalty rates for weekend and public holiday work owed under the Restaurant Industry Award 2010.Most of the underpayments relate to a Malaysian student who worked as a food-and-beverage attendant who was underpaid AUD 24,800 (USD 16,994) over 12 months. The Pakistani worker received only 10% of his wages.Judge Grant Riethmuller said the respondents’ actions were “deliberate”, and that they “must have simply ignored their obligations”.“In this matter there has been significant exploitation of employees who for the most part, were never paid,” Riethmuller said.The court previously ordered Waechter to back-pay all outstanding wages, with 98% of underpayments remaining unpaid. The restaurant ceased trading in late 2016. […]

  • Philippines – Online recruitment drops 5% in April: Monster Employment Index

    Online recruitment in the Philippines saw a decline of 5% in April 2020 from the year-ago level, according to the Monster Employment Index Philippines.Online recruitment activity exceeded the year-ago level in three of the twelve sectors monitored by the Index.BPO/ITES (Business Process Outsourcing/IT Enabled Services) was up 18% in April, recording the most notable annual growth in online hiring activity among industry sectors.Logistic, Courier/ Freight/ Transportation, Import/Export, Shipping (down 30%) saw the steepest decline among monitored industry sectors, on-the-year.Annual online demand for professionals was positive in two of the ten job-roles monitored by the Index.Software, Hardware, Telecom (up 19%) professionals saw the most-notable annual growth in online demand among occupation groups in April 2020.On the other hand, Purchase/ Logistics/ Supply Chain (down 40%) saw the steepest year-on-year decline among job-roles in April 2020.The Index is a broad and comprehensive monthly and quarterly analysis of online job posting activity conducted by Monster. […]

  • Singapore – More than 7,000 furloughed/laid off workers matched to new jobs under Job Security Council (Channel News Asia)

    More than 7,000 workers in Singapore who were either furloughed or laid off due to the Covid-19 pandemic have taken up new roles with the help of the National Trades Union Congress (NTUC) through its Job Security Council, reports Channel News Asia. Announced in February 2020, the Job Security Council involves a network of unions, companies and organisations. The aim is to allow employers to share or redeploy manpower, matching displaced or retrenched workers to new jobs. NTUC said the workers were placed mainly in logistics, medical technology, security, as well as healthcare-related sectors. NTUC added that it was supporting certain groups of employees have become more vulnerable in the current employment landscape, such as mid-career professionals, managers and executives, as well as mature workers and female workers. […]

Latest Research

  • Toward a Total Talent Future

    Organizations can no longer assume that the hiring of traditional employees alone will be enough to provide them with the talent and skills they need. The growth and use of a wide array of non-traditional work styles, including contingent workers, freelancers, independent contractors, consultants and more, are increasingly recognized as integral to organizational success.In this study, SIA takes a look at what progress has been made toward more integrated Total Talent solutions. We believe this report is particularly timely as the pressure to source skilled talent globally continues to fundamentally change recruitment dynamics.The full report can be downloaded by clicking the link below: TowardTotalTalentFuture2019_SIA_191030 - You do not have permission to view this object. […]

  • US Pulse Survey Report: May 2020 Selected Highlights

    Survey respondents reported a median 18% y/y decline in their US temporary staffing revenue in April, a further decrease from the 5% reported decline in March. The travel nurse segment reported the strongest growth in April (up a median 10% y/y), and the locum tenens (5%) and life sciences (4%) segments were the only other segments showing positive expansion. The biggest declines were reported by the industrial (median -32% y/y) and office/clerical (-25%) segments. The full 41-page version of this special report contains 13 new pages on the biggest challenges staffing firms are facing from the COVID crisis and their corresponding responses; detailed breakdowns of internal staff and temporary worker layoffs and furloughs; and insights on staffing firms reducing internal staff salaries, bonus formulas, and hours. 47% of staffing firms reported at least some layoffs of internal staff, while 59% reported layoffs of temporary workers on assignment with clients. Regarding internal staff, 26% of staffing firms reduced salaries, 27% reduced bonus formulas, and 29% cut hours. Reflecting the pandemic, average sales difficulty increased further to 4.01 from 3.78 in March. Average recruiting difficulty declined slightly from 3.18 to 3.12. A net 73% of firms reported a decreasing trend in new orders over the last three months. Small companies (revenue up to $10 million) reported the greatest median y/y decline in revenue (down 21%) and the greatest sales difficulty (4.46). Medium-sized companies (revenue between $11 and $100 million) reported the greatest recruiting difficulty (3.30). The full 41-page report contains insights on trends in revenue, bill rates, orders, gross margins, recruiting/sales difficulty, and 6-month outlook for each staffing skill segment. The next Pulse Survey will be in June. We will be sending out survey invites in the first half of the month. You can also participate by visiting our SIA Research Surveys webpage. You can download the Selected Highlights report here: US Staffing Industry Pulse Survey Report: Selected Highlights - You do not have permission to view this object. […]

  • Online Job Advertising: 2020 Market Update

    We estimate global online job advertising revenue grew 16% in 2019, reaching USD 26 billion. There is a long tail of smaller firms and we have based our market estimate on the existence of 40,000 job boards globally. Since March 2020, the outlook for the market has markedly changed given the onset of the COVID-19 crisis, economic lockdowns and hiring freezes. There remains much uncertainty over the remainder of 2020 and, regardless of the length of the lockdowns, high unemployment and weak economic conditions will put a dampener on demand for online job advertising for at least the remainder of the year. During 2019, the two market leaders Microsoft (LinkedIn) and Recruit (Indeed, et al) extended their dominance as they continued to win market share away from others. The market share of the top two extended from 46% to 49% in 2019. Microsoft and Recruit both grew revenue by 25% over 2018 while the rest of the market grew by an average of just 5%. Convergence between online job advertising and online staffing platforms is a key feature of the market as many providers invest in platforms to provide short-term assignments to freelancers. At the same time, the boundary between online job advertising and staffing is becoming increasingly blurred. Business models where candidates are curated and clients are charged upon successful candidate placement are beginning to look very much like direct hire services provided by staffing firms. You can download the entire report here:  Online Job Advertising: 2020 Market Update - You do not have permission to view this object. […]

  • Mitigating Co-Employment Risk

    Key Points The use of external workers of any type means the assumption by a client employer of at least some co-employment risk. There is no single definition of joint employment in US law. As a result, there are many myths around the legalities of utilizing external workers. In this report, we look at how employer organizations and staffing firms can address and, ultimately, mitigate the risks. To download the full report, click below: Mitigating Co-employment Risk 20200526 - You do not have permission to view this object. […]

  • Toward a Total Talent Future

    Organizations can no longer assume that the hiring of traditional employees alone will be enough to provide them with the talent and skills they need. The growth and use of a wide array of non-traditional work styles, including contingent workers, freelancers, independent contractors, consultants and more, are increasingly recognized as integral to organizational success.In this study, SIA takes a look at what progress has been made toward more integrated Total Talent solutions. We believe this report is particularly timely as the pressure to source skilled talent globally continues to fundamentally change recruitment dynamics.The full report can be downloaded by clicking the link below:  TowardTotalTalentFuture2019_SIA_191030 - You do not have permission to view this object. […]

  • Coronavirus Playbook for UK Staffing Firms

    IntroductionThis report describes ten focus areas to help staffing firms survive, navigate, and ultimately thrive amid the current coronavirus pandemic and economic disruption. The focus areas range from health & safety practices to financial management techniques to strategic positioning for the future. As shown on page three, we have further organized the focus areas into three broad topics: protect your workers, protect your business, and grow your business.The coronavirus pandemic has dealt a sudden and severe economic shock to the global economy, and the UK staffing industry has been acutely impacted. In April both permanent placements and temp billings fell at rates far exceeding those seen at the height of the global financial crisis. Business confidence in hiring has improved compared to early April. However, confidence levels remain negative overall in May.On the topic of protecting workers, staffing firms need to monitor evolving government health guidelines, as well as leverage the growing body of private sector knowledge and best practices for reducing virus spread in various industry and workplace settings.Regarding the topic of protecting your business, staffing firms must prioritize the survival (liquidity and solvency) of their business via disciplined financial management, cost control, collections, and taking advantage of government aid. We also share best practices and insights from how staffing firms navigated past recessions and recoveries.On the topic of growing your business, staffing firms should investigate how to pivot their operations to serve new clients or deliver new services to existing clients. Staffing firms should also consider making technology investments to adapt their business further.This report owes a great deal to our analyst Timothy Landhuis, and you can see his equivalent report for the US here.  You may also benefit from viewing our Coronavirus Resource Center.To download the full report, click below: Coronavirus Playbook for UK Staffing Firms 20200701 - You do not have permission to view this object. […]

  • Companies Looking to Acquire Staffing and/or Workforce Solutions Firms in EMEA and APAC

    • This report details the preferences of 30 staffing firms regarding the type of acquisition target that they would be most interested in pursuing. Firms provided their top three preferences regarding market segment and target geography, along with the name and email address of the best person to contact for those interested in selling a firm that matches the stated criteria.• The company-specific data displayed in this report was self-reported by staffing firms that completed our Staffing Firm Rankings List application during 2020.• In our survey, firms had the option to indicate their segment preference for a potential acquisition. Options included the skill segments of temporary staffing, direct hire, as well as a range of workforce solutions such as MSP and VMS.• The acquirers are listed in alphabetical order of most preferred type of firm to be acquired, that is, education, engineering, healthcare, industrial etc. Additional potential acquirers may be found by searching their second and third choices for target segments.• In addition to sharing top segment and geographic preferences, some firms also provided open-ended comments regarding their target criteria for acquisitions. Where respondents did not specify 2nd or 3rd choices for a segment or region, those cells were left blank.• Should you wish to be included in this report, please contact Matt Norton (mnorton@staffingindustry.com)• Note to sellers: This list is intended to help acquirers and sellers of staffing firms discover common interests. It is not intended as a substitute for expert advice in the actual process of selling a staffing firm. It is recommended that sellers use an intermediary to contact potential acquirers -- such as a lawyer, accountant, or M&A advisor -- rather than contact acquirers directly, as it may be disadvantageous, for competitive reasons, for others in the market to know that you are putting your firm up for sale.To download a copy of the report please click below: Companies looking to acquire staffing and workforce solutions firms in EMEA and APAC 20200527 - You do not have permission to view this object. […]

  • Selling Your Staffing Business

    Hundreds of staffing firm acquisitions take place every year. In many cases, staffing firm owners put their firm up for sale without full knowledge of the market.This report is intended to help sellers better understand their options. An aggregation of SIA research,  it is made up of four sections: Section 1.   Trends in staffing mergers and acquisitions (Page 3) Section 2.  Strategic tips from M&A advisors (Page 10) Section 3.  A list of Companies looking to acquire staffing/workforce solutions firms in APAC and EMEA  (Page 21) Section 4.  M&A advisors: what they do, how they charge, who they are (Page 26) While this information should be useful, it does not constitute professional, legal or financial advice. Those seeking to limit risk are advised to speak with one of the M&A broker listed below or seek other professional advice.To download a full copy of the report, click below: Selling Your Staffing Firm 20200527 - You do not have permission to view this object. […]

  • Toward a Total Talent Future

    Organizations can no longer assume that the hiring of traditional employees alone will be enough to provide them with the talent and skills they need. The growth and use of a wide array of non-traditional work styles, including contingent workers, freelancers, independent contractors, consultants and more, are increasingly recognized as integral to organizational success.In this study, SIA takes a look at what progress has been made toward more integrated Total Talent solutions. We believe this report is particularly timely as the pressure to source skilled talent globally continues to fundamentally change recruitment dynamics.The full report can be downloaded by clicking the link below:  TowardTotalTalentFuture2019_SIA_191030 - You do not have permission to view this object. […]

  • Companies Looking to Acquire Staffing and/or Workforce Solutions Firms in EMEA and APAC

    • This report details the preferences of 30 staffing firms regarding the type of acquisition target that they would be most interested in pursuing. Firms provided their top three preferences regarding market segment and target geography, along with the name and email address of the best person to contact for those interested in selling a firm that matches the stated criteria.• The company-specific data displayed in this report was self-reported by staffing firms that completed our Staffing Firm Rankings List application during 2020.• In our survey, firms had the option to indicate their segment preference for a potential acquisition. Options included the skill segments of temporary staffing, direct hire, as well as a range of workforce solutions such as MSP and VMS.• The acquirers are listed in alphabetical order of most preferred type of firm to be acquired, that is, education, engineering, healthcare, industrial etc. Additional potential acquirers may be found by searching their second and third choices for target segments.• In addition to sharing top segment and geographic preferences, some firms also provided open-ended comments regarding their target criteria for acquisitions. Where respondents did not specify 2nd or 3rd choices for a segment or region, those cells were left blank.• Should you wish to be included in this report, please contact Matt Norton (mnorton@staffingindustry.com)• Note to sellers: This list is intended to help acquirers and sellers of staffing firms discover common interests. It is not intended as a substitute for expert advice in the actual process of selling a staffing firm. It is recommended that sellers use an intermediary to contact potential acquirers -- such as a lawyer, accountant, or M&A advisor -- rather than contact acquirers directly, as it may be disadvantageous, for competitive reasons, for others in the market to know that you are putting your firm up for sale.To download a copy of the report please click below: Companies looking to acquire staffing and workforce solutions firms in APAC and EMEA 20200527 - You do not have permission to view this object. […]

  • Online Job Advertising: 2020 Market Update

    We estimate global online job advertising revenue grew 16% in 2019, reaching USD 26 billion. There is a long tail of smaller firms and we have based our market estimate on the existence of 40,000 job boards globally. Since March 2020, the outlook for the market has markedly changed given the onset of the COVID-19 crisis, economic lockdowns and hiring freezes. There remains much uncertainty over the remainder of 2020 and, regardless of the length of the lockdowns, high unemployment and weak economic conditions will put a dampener on demand for online job advertising for at least the remainder of the year. During 2019, the two market leaders Microsoft (LinkedIn) and Recruit (Indeed, et al) extended their dominance as they continued to win market share away from others. The market share of the top two extended from 46% to 49% in 2019. Microsoft and Recruit both grew revenue by 25% over 2018 while the rest of the market grew by an average of just 5%. Convergence between online job advertising and online staffing platforms is a key feature of the market as many providers invest in platforms to provide short-term assignments to freelancers. At the same time, the boundary between online job advertising and staffing is becoming increasingly blurred. Business models where candidates are curated and clients are charged upon successful candidate placement are beginning to look very much like direct hire services provided by staffing firms. You can download the entire report here:  Online Job Advertising: 2020 Market Update - You do not have permission to view this object. […]

  • Global Staffing Industry Forecast: May 2020 Update

    Key Findings We estimate that in 2019, the staffing industry generated USD 497 billion of revenue worldwide (EUR 444 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. Given the uncertain duration of the COVID-19 outbreak, our projections for 2020 and 2021 contain three scenarios (shorter outbreak, base case, longer outbreak), as defined on page 12. SIA projects declines of 14%, 24% and 37% in global staffing revenue in the shorter, base, and longer scenarios, respectively; we project growth of 16%, 13% and 7% in 2021. Unless stated otherwise, projections throughout this report pertain to the middle, “base case” scenario. Our predominant use of the base case scenario is for the sake of simplicity and should not be taken to imply that it is necessarily regarded as the most likely outcome. Few countries have remained unscathed from the pandemic and associated shutdowns. Of the 14 largest markets, all but China and India are projected to contract by more than 20% this year. Projections among the remining twelve range from -21% (US, Canada) to -39% (France, Italy). The magnitude of the decline in each market is most driven by the severity of the pandemic itself and how the country has managed it, the mix of jobs in that country’s staffing market (remote-based knowledge work vs. industrial and retail jobs more vulnerable to shutdown measures), and that country’s role in the global supply chain (e.g., dependency on oil exports, dependency on countries with a significant outbreak). As we anticipate lifting of shutdown measures to lead to a recovery next year, we project growth in all 14 of the largest staffing markets in 2021 (double-digit growth in 12 of them). However, with the exception of India, we do not project a full recovery in any of those markets by next year. The full report can be downloaded by clicking the link below: Global Staffing Industry Forecast May 2020 20200504 - You do not have permission to view this object. […]