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  • North America Temporary Worker Survey 2020: Temporary worker interest in training

    Key Findings: Training is a relative weak spot in temp satisfaction with agencies. Survey respondents were queried on eight aspects of their experience with agencies -- issues such as politeness, trust, availability of assignments, etc. Training opportunities offered by staffing firms scored the lowest level of satisfaction. About half of temps say training would be a “huge benefit.” Temporary workers were asked: “If your staffing firm offered free training opportunities, to what degree (on a 0-6 scale) would that interest you?” Forty-seven percent of temporary workers -- nearly half -- selected “6,” the highest level of enthusiasm and another 10% selected “5.” Enthusiasm was moderately strong across all temporary worker age, pay, and occupation demographics. One in seven temps would go so far as to pay staffing firms for training. Respondents were particularly interested in training that would make them more marketable, in some cases specifically mentioning training in computer science and/or office skills. A few were looking for certifications as well. Temporary worker interest in training has also been a minor recurring theme across past SIA surveys. Lack of training was one of several issues cited by temps as a shortcoming in their preparation for given assignments. Buyer clients also don’t seem to excel at training. Inadequately trained temps are at risk of quitting jobs early. Staffing firms commonly fail to communicate the training options they do offer. When asked how temps thought the industry could improve its reputation, more training was one of the suggestions. To access the complete report, please select the link below: North America Temporary Worker Survey 2020 Temporary worker interest in training 20200707 - You do not have permission to view this object. […]

  • US Staffing Industry Forecast

    Key Findings After a tumultuous first half of the year, the US economy appears to be gradually recovering, even as coronavirus cases have risen in the last couple of weeks. While uncertainty and risk remains elevated from the pandemic, we present an updated forecast for the US staffing industry, with growth rates and market sizes displayed on the table on pages 9 and 10. Key assumptions of this July forecast update include: 1) masks, social distancing, and other measures provide enough containment of the virus such that widespread lockdowns do not recur; 2) federal unemployment benefits from the CARES Act are not extended beyond their July 31st expiration; and 3) a COVID-19 vaccine or treatment becomes available in 1H2021. Based on these assumptions, and the staffing firm data we have collected regarding 1H2020, we forecast a 17% decline in the US staffing industry this year, a modest upgrade from the 21% decline in our base case forecast from April. We project revenue growth in only two segments of the staffing industry this year: travel nurse (+5%) and life sciences (+3%). The temporary staffing segment seeing the most disruption is the industrial segment, which we forecast to decline 22% this year. We project a 14% decline in temporary staffing revenue this year, and a 36% decrease in the more cyclical place & search category (direct hire and retained search.)  As the US economy gradually recovers throughout 2021, we project 11% growth in temporary staffing revenue and 19% expansion in place & search. Based on additional data and analysis, we upgraded our 2019 growth estimate for healthcare staffing to 7%, from our 4% estimate published in April. This was driven by upgraded 2019 growth estimates for travel nurse (12% from 6%), per diem nurse (3% from 2%), and allied healthcare (8% from 4%). Summary tables of our US staffing industry market size and growth projections from 1995 to 2021P can be found on pages 9 to 12. To download the complete report, please select the following link:  US Staffing Industry Forecast 20200707 - You do not have permission to view this object. […]

  • Largest Direct Hire Firms Globally

    The global direct hire market accounted for $33.5 billion (€29.9 billion) in 2019, 6.7% of the global staffing market.  The Americas and Asia Pacific were the two largest regions for direct hire. The United States was the largest national market in 2019, with 40% of the global market. This report provides a ranking of the 30 largest providers of direct hire services globally, based on revenues generated in 2019. The largest global provider was Page Group, followed by The Adecco Group and Hays. Finally, we also provide an overview of the latest trends, based on data published by the largest publicly-listed providers in this space. We have ranked companies by revenue, according to industry custom, but this ranking should not be taken to imply that a firm with a higher rank provides better service or more value to its shareholders. The full top 30 ranking can be found on pages 7-8. Our definition of direct hire revenue and the methodology for this report can be found on page 9. Revenue figures above represent SIA’s best estimate based on available information at the time of publication. The accuracy of estimates may vary depending on multiple factors, including firms’ willingness to provide or confirm information about their operations. To download a full copy of this report, click below: Largest Direct Hire Firms Globally 20200702 - You do not have permission to view this object. […]

  • July US Jobs Report

    Event: In today’s generally favorable monthly jobs report from the US Bureau of Labor Statistics (BLS), total nonfarm employment rose by 4.8 million in June on a seasonally adjusted basis. This was the greatest monthly rise on record (going back to 1939), breaking the record set in May of 2.7 million (after a record loss of 20.8 million in April). Temporary help services also posted its largest gain on record (going back to 1990) of 149,000 jobs in June, two months after its record decline of 841,000 jobs. The temporary agency penetration rate rose from 1.58% in May to 1.63% in June, but still below its pre-COVID level of 1.9%. The national unemployment rate declined for the month, from 13.3% to 11.1%, even with a rise in the labor force.14 of the 15 major industry groups gained jobs for the month (the exception being natural resources/mining with a loss of 10,000 jobs. A majority of the 4.8 million total jobs gained came from just two categories: leisure & hospitality (+ 2.1 million) and retail trade (+ 740,000). Despite having the largest job gain for each of the last two months, leisure and hospitality still shows the steepest year-over-year (y/y) percentage decline (-27%). The second steepest is in temporary help (-24%). All of the fifteen major industry groups are down y/y, the closest to a complete rebound are financial activities (-1%) and construction (-4%).BLS Revisions: The change in total nonfarm payroll employment for May was revised from 2.5 million to 2.7 million. April was revised from -20.7 million to -20.8 million. With these revisions, total nonfarm employment change was 90,000 higher than previously reported. The change in temporary help services employment for May was unchanged; April was revised upward by 7,800 jobs.Staffing Industry Analysts’ Perspective: Despite a 6% rise over the last two months, total nonfarm employment stands 10% below its peak from February of this year. As long as recent rises in COVID-19 cases don’t force a return of shelter-in-place restrictions, we should continue to see recovery in the coming months. The number of unemployed persons on temporary layoff declined by 4.8 million (the reciprocal of job gains for the month), but 10.6 million remain, suggesting a large number of people returning to work in the coming months. However, the number of permanent job losers continued to rise, by 588,000 to 2.9 million in June. As businesses re-open after shelter-in-place regulations, we should continue to see substantial job increases, but some businesses will not re-open, or at least not to the same capacity. Thus, once we recover 60%-80% of the April losses, gains will likely come much slower as they may be driven more by new companies replacing old companies from the pre-COVID world, rather than by businesses re-opening. Temporary agency jobs will likely mirror this trend. Members may download our jobs report tool by selecting the link below:  Monthly Employment Situation July 2020 - You do not have permission to view this object. […]

  • Contingent Workforce Regulatory Environment in Italy

    Key Findings Temporary agency work was first regulated in Italy by Law 196 of 1997 but has seen significant growth in the past five years. While indefinite employment is still the norm in Italy, recent changes in the regulation of contingent labour have been driven by the need for flexibility in the labour market. This report gives an overview of the legal and regulatory environment for workforce solutions providers who supply or facilitate the supply and use of contingent labour; and for contingent workforce buyers who utilize temporary agency workers, independent contractors and statement of work providers in Italy. To download the full report, click below: Contingent Workforce Regulatory Environment in Italy 20200706 - You do not have permission to view this object. Legal Disclaimer: The information contained in this report is provided solely for the purposes of information and should not be considered legal advice. It is always recommended to seek the advice of qualified legal counsel before acting on any of the information contained in this report. […]

  • Largest Direct Hire Firms Globally

    The global direct hire market accounted for $33.5 billion (€29.9 billion) in 2019, 6.7% of the global staffing market.  The Americas and Asia Pacific were the two largest regions for direct hire. The United States was the largest national market in 2019, with 40% of the global market. This report provides a ranking of the 30 largest providers of direct hire services globally, based on revenues generated in 2019. The largest global provider was Page Group, followed by The Adecco Group and Hays. Finally, we also provide an overview of the latest trends, based on data published by the largest publicly-listed providers in this space. We have ranked companies by revenue, according to industry custom, but this ranking should not be taken to imply that a firm with a higher rank provides better service or more value to its shareholders. The full top 30 ranking can be found on pages 7-8. Our definition of direct hire revenue and the methodology for this report can be found on page 9. Revenue figures above represent SIA’s best estimate based on available information at the time of publication. The accuracy of estimates may vary depending on multiple factors, including firms’ willingness to provide or confirm information about their operations. To download a full copy of this report, click below: Largest Direct Hire Firms Globally 20200702 - You do not have permission to view this object. […]

  • EMEA Financial Results Q4 2019

    Revenue in the reported 36 publicly traded staffing firms in the EMEA region fell by a median of 5.4% during Q1 2020, compared to the same period in 2019. Among the companies included in this report, 22 reported a decrease in revenue. The Covid-19 outbreak negatively impacted the results of many staffing firms during Q1 2020. The subsequent lockdowns and restrictions led to many European countries entering a recession. While the majority of lockdown measures were enacted in March, first-quarter results for staffing firms were generally affected. The median gross margin fell slightly by 0.1% compared to last year. Median net income fell by -4.0%. Due to the varying nature of financial reporting styles across EMEA, some companies reported their revenue in only half years and other varying periods. Several firms had not yet announced their results for the period at the time of publication of this report. For more information about each company’s results, please click on the links provided or visit the companies’ websites. This report should be read in conjunction with the Coronavirus Playbook for UK Staffing Firms, which describes the cost reduction actions recently reported by publicly-held UK staffing firms. To download the full report, please click below: EMEA Financial Results Q1 2020 - You do not have permission to view this object. […]

  • IT Staffing Growth Assessment

    We estimate IT temporary staffing is a $70 billion global market. The Americas region represents half of the global market, while EMEA represents approximately one-third (33%). In terms of professional staffing mix by region, IT is most penetrated in the US (41%), compared to roughly one-third in both EMEA (33%) and APAC (35%). The impact of recession on IT employment has varied considerably in recent decades. For example, the recession of 2001, precipitated by the “dot-com bubble,” while rather mild for the overall economy, had a significant impact on IT employment. Conversely, the Great Recession of 2007–2009 hindered overall employment to a far greater degree than it did IT specifically. Again, IT is proving to be among the most resilient pockets of employment during the 2020 Covid-19 pandemic. The 11 sections of this 112 page report, as outlined in the table of contents below, explore dynamics in IT staffing and workforce solutions to inform industry stakeholders and support strategic planning initiatives. Table of contents:Introduction……………………………………………………………………….3Section 1: Shifting IT staffing demand drivers in a changed world.………..5Section 2: Target markets and skillsets………………………………………16Section 3: The war for talent persists in the face of disruption……............30Section 4: Market size and participants.……………………………..……….37Section 5: IT staffing industry verticals………………………………………..51Section 6: IT staffing mergers & acquisitions………………………………....60Section 7: Growth prospects and benchmarking data……………………….66Section 8: Gross margin trends………………………………………………...80Section 9: Evolving business models and the Human Cloud………………..86Section 10: IT staffing firms and statement-of-work engagements………....95Section 11: Navigating the new normal………………………………...……..105To download the complete report, please click the link below: IT Staffing Growth Assessment 20200624 - You do not have permission to view this object. […]

  • Largest Direct Hire Firms Globally

    The global direct hire market accounted for $33.5 billion (€29.9 billion) in 2019, 6.7% of the global staffing market.  The Americas and Asia Pacific were the two largest regions for direct hire. The United States was the largest national market in 2019, with 40% of the global market. This report provides a ranking of the 30 largest providers of direct hire services globally, based on revenues generated in 2019. The largest global provider was Page Group, followed by The Adecco Group and Hays. Finally, we also provide an overview of the latest trends, based on data published by the largest publicly-listed providers in this space. We have ranked companies by revenue, according to industry custom, but this ranking should not be taken to imply that a firm with a higher rank provides better service or more value to its shareholders. The full top 30 ranking can be found on pages 7-8. Our definition of direct hire revenue and the methodology for this report can be found on page 9. Revenue figures above represent SIA’s best estimate based on available information at the time of publication. The accuracy of estimates may vary depending on multiple factors, including firms’ willingness to provide or confirm information about their operations. To download a full copy of this report, click below: Largest Direct Hire Firms Globally 20200702 - You do not have permission to view this object. […]

  • IT Staffing Growth Assessment

    We estimate IT temporary staffing is a $70 billion global market. The Americas region represents half of the global market, while EMEA represents approximately one-third (33%). In terms of professional staffing mix by region, IT is most penetrated in the US (41%), compared to roughly one-third in both EMEA (33%) and APAC (35%). The impact of recession on IT employment has varied considerably in recent decades. For example, the recession of 2001, precipitated by the “dot-com bubble,” while rather mild for the overall economy, had a significant impact on IT employment. Conversely, the Great Recession of 2007–2009 hindered overall employment to a far greater degree than it did IT specifically. Again, IT is proving to be among the most resilient pockets of employment during the 2020 Covid-19 pandemic. The 11 sections of this 112 page report, as outlined in the table of contents below, explore dynamics in IT staffing and workforce solutions to inform industry stakeholders and support strategic planning initiatives. Table of contents:Introduction……………………………………………………………………….3Section 1: Shifting IT staffing demand drivers in a changed world.………..5Section 2: Target markets and skillsets………………………………………16Section 3: The war for talent persists in the face of disruption……............30Section 4: Market size and participants.……………………………..……….37Section 5: IT staffing industry verticals………………………………………..51Section 6: IT staffing mergers & acquisitions………………………………....60Section 7: Growth prospects and benchmarking data……………………….66Section 8: Gross margin trends………………………………………………...80Section 9: Evolving business models and the Human Cloud………………..86Section 10: IT staffing firms and statement-of-work engagements………....95Section 11: Navigating the new normal………………………………...……..105To download the complete report, please click the link below: IT Staffing Growth Assessment 20200624 - You do not have permission to view this object. […]

  • The Global Gig Economy

    SIA estimates the global gig economy was worth USD 4.7 trillion in 2019. Within the broad definition of contingent/gig work, there are five principal categories:  Temporary agency workers (TAW) assigned through a staffing agency. Temporary employees sourced directly (no staffing agency). Independent contractors/self-employed with no employees. By far the largest category of contingent work responsible for 60% of the total. Statement of work (SOW) consultants employed by consulting firm.  Human cloud workers. In this insight, we present a global estimate divided by the 18 countries that represent approximately 90% of global TAW spend. The estimate for remaining nations is included under “Rest of World”. If your SIA membership covers the Americas region you should read this insight in conjunction with our US Gig Economy – 2020 report. To download the full report, please click below: The Global Gig Economy 20200613 APAC - You do not have permission to view this object. […]

  • IC Compliance and Payrolling – Global Legal Overview

    Key Findings The growth in the use of independent contractors has become one of the most significant legal trends in the workforce today. In this report, we look at the ways in which the law classifies independent contractors across 21 different countries. We also identify the different models independent contractors use to provide their services, which can differ from country to country; and highlight some of the services provided to employers for the payrolling and administration of the contingent workforce in each of those countries. To download the full report, click below: IC Compliance and Payrolling Global Legal Overview 20200622 - You do not have permission to view this object. Legal Disclaimer: The information contained in this report is provided solely for the purposes of information and should not be considered legal advice. It is always recommended to seek the advice of qualified legal counsel before acting on any of the information contained in this report. […]