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    Staffing Services Industry Profile

    Report Page Length: 10-12
    Last Quarterly Update: 3/29/2021
    SIC Codes: 7363
    NAICS Codes: 5613
    Chapters Include:
    Industry Overview Trends & Challenges Industry Forecast
    Quarterly Industry Update Call Prep Questions Website & Media Links
    Business Challenges Financial Information Glossary & Acronyms
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    Excerpt from Staffing Services Industry Profile

    Companies in this industry provide temporary staffing, outsourced HR management, and employee placement services. Major companies include Allegis Group, Kelly Services, ManpowerGroup, and Robert Half International (all based in the US), along with Adecco (headquartered in Switzerland) and Randstad (the Netherlands).

    The global staffing market is expected to have a valuation of $542 billion by 2024, according to Reportlinker. The factors driving this growth include the rising volume of mergers and acquisitions, declining unemployment rate, increasing industrial production, and growing popularity of the online recruitment process. North America is the fastest-growing market followed by Europe and Asia/Pacific region.

    The US staffing services industry includes about 53,000 establishments (single-location companies and units of multi-location companies) with combined annual revenue of about $400 billion. The industry includes executive search services and professional employer organizations (PEOs), which are also covered in separate industry profiles.

    COMPETITIVE LANDSCAPE

    Companies compete to fill talent pools with skilled employees. Some companies may concentrate on manual labor or administrative skills, while others specialize in engineering, IT, or professional attributes. Firms with a large network of offices tend to have the best advantage due to agreed-upon pricing or markup on services rendered. During economic downturns, clients typically reduce employment of temporary employees before conducting permanent staff layoffs. Pricing competition, which is stiffer among providers of clerical and industrial personnel, may intensify during periods of economic instability.

    Other competitive factors include the emergence ...

     
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