EXPERTISE SECTORStaffing & Recruitment

The staffing & recruitment industry: managing the balance between clients and talents

Capturing value in the future work trends will drive companies ahead in the competition for finding talents

The staffing and recruitment industry is projected to increase in revenue in the years ahead. The industry is vital to provide outstanding jobs and meet the gap for career opportunities. Staffing employees work in virtually all sectors. Approximately more than half of the staffing and recruitment companies are in the temporary and contract staffing segment. The changes to the future of work have shifted the industry landscape. The operational budget of staffing agencies is anticipated to grow to do candidate engagement, client experience, and digital transformation. The industry is in the race to recruit experienced talents. Hence, investing in relationships is vital with both customers and candidates. Staffing companies offer a wide range of employment-related services, such as temporary and contract staffing, recruitment and permanent placement, outsourcing and outplacement, and human resource consulting.

Temporary Staffing

Temporary employment means hiring for a contracted period of time. The contract or temp workers fulfill the function of regular employees' tasks and responsibilities. Temporary staffing may offer companies advantages because the cost to employ temp tends to be cheaper than a full-time hire. The downside is companies perhaps may need to re-train the new temps. It is usually seasonally based on contract, freelancing, or consulting. The majority of this segment is dominated by temporary employment agencies. An agency finds and retains workers to provide talents for companies that have cyclical staffing and specific job requirements. However, the rise of the internet and gig economy has changed the landscape providing short-term jobs through freelance marketplaces even in the global market. 

Outsourcing and Outplacement

Outsourcing is an agreement in which one company contracts another company or enterprise to be responsible for specific functions that could be done internally for a period of time. Outsourcing includes both domestic and foreign contracting and sometimes involves offshoring. Typical industries that do outsourcing are technology, call centers, human resources, and manufacturing. Job outsourcing can help companies to be more competitive by bringing their cost lower than hiring internally. 

Recruitment

The recruitment sector is a collection of various agencies and in-house professionals that work to match potential employees with available job vacancies. Recruitment includes the processes of attracting, screening, interviewing, and selecting qualified candidates for job opportunities. The recruitment industry is a growing field. The recruitment sector tackles challenges and provides solutions to the issues of skillful labor shortage and difficulty in finding the right talents. The sector can be classified into general recruitment, niche recruitment, executive search, and internet recruitment sites.

Key trends instaffing & recruitment industry

Specialization Talent Search
Speed & Efficiency
Social Network
Remote Life
Skill Shortages
Pricing Pressure
Future of Work
Pay increase

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