The human resource experts are still bullish on IT staffing with the data released by Staffing Industry Pulse Survey on IT staffing revealing a median year over year growth of 13% along with the strongest bill rate trends when compared with other sectors or segments. The IT staffing firms are considering imbibing additional working capital and payroll funding into their businesses. The demand for IT staffing services is solid in the first quarter and is in tandem with the activity levels of its previous quarter. On a year-to-year comparison, staffing firms across all sectors employed 9.6% more temporary workers than in the same month in 2013 according to the U.S. Bureau of Labor Statistics.
As per the Staffing Industry Analysts, the IT staffing segment is expected to grow by 8% in 2014 and additional 8% during 2015 to reach a turnover of $28.5 billion in 2015. The speeding up of the U.S. economy is expected to drive the demand for mobile apps, website reconfigurations, enterprise software projects, data security and software application development. Staffing research analysts are expecting a higher growth rate in the IT segment.
Some of the IT staffing firms have reaped the benefits of their growth due to the growth in IT staffing market. They are successfully assisting multiple IT temporary staffing companies with their payroll and to meet their cash flow needs in order to take advantage of the current surge in the market. It is not that the benefits are limited to temporary IT staffing only but it is also the right time for IT staffing firms to widen these benefits by enriching their direct hire service offering as well. The Staffing Industry Analysts buyers’ survey shows that in all, buyers purchasing IT skills have very ambitious plans to increase their full time IT workers as well.
The long-term growth of IT staffing is also expected to thrive on positive waters with the Staffing Industry forecast of IT staffing is expected to expand by 5.6% compound annual growth rate to a market size of $39.0 billion in 2022. The IT staffing is expected to continue to be benefitted from high rates of temporary penetration (5%) and the recent momentum throughout these five years with greater than 7% revenue growth. These are the reasons why IT staffing firms are bullish on IT staffing and are ready to make their moves.