Survival of Staffing agencies in the new job market

Staffing agencies or staffing firms, as other businesses should take into account the mantra of survival of the fittest to keep up with the demand of the companies they are serving. The job or employment market out there is essentially a job seekers market with the majority of staffing agencies or firms having a positive attitude towards the job market. The hiring activities are in full gear in the field of financial services, legal, oil, gas, education and Information Technology. There is exists a growing gap when it comes to employment and the staffing agencies must learn to address these issues.

With the recession coming down and related job cuts weakened, candidates who otherwise used to pursue a college degree are not opting to go for further higher studies.  They are thinking that it is sheer waste of time and commitment as they are finding gainful employment even with a degree. According to the Bureau of Labor Statistics, less than 66% of high school class of 2013 was enrolled during the last fall compared to more than 70% in 2009.  Another survey carried on by the Pew Research Center or PRC found that Baby Boomers are retiring at the rate of about 10,000 every day. According to the U.S. Census Bureau, this number would turn out to be about 72.8 million retirees by 2030.

The ever-growing aging population, the young generational demands and challenges with the U.S. Immigration laws are some of the factors that add up to tough situations for the existing staff agencies. On the brighter side for the staffing agencies, there are employers who are not willing to commit to the direct hire of full time employees and instead are willing to fill open positions through staffing agencies. In the same way, there are job seekers or candidates who are desirous of working as consultants, freelancers or through staffing agencies so that they are not dependent on a single organization or employer.

For staffing agencies to survive in this competitive market, they should adhere to the following four tips to stay ahead in the job market and this are-

1.    Focus on the Contractor Experience.
2.    Become a customer centric on the placement side.
3.    Pool the data.
4.    Staffing agencies should not to ignore social media, which have a major impact on staffing firms that helps in bringing transparency to the job search and recruiting activities.