Staffing services climbing the economic ladder

The American economy is continuing to expand for more than five years in a row since the end of Great Recession. However, in this entire five year period the expansion is at sub-par levels. The U.S. economy took about five years to recover the jobs that were lost during the 18 months of Great Recession. Even though, the job losses have been regained but with the population explosion there are now new workers who are competing for the newly created jobs. The unemployment rate that has come on par with normal levels has also resulted in the decline of labor force participation to the lowest levels in decades.

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The role of contingent work force in staffing

The staffing industry is positive about the contingent work with reports showing that the number of temporary workers in the workforce having increased by 29% during 2009 to 2012 and this is a rapidly growing work force. With the contingent work force segment continuing to grow, organizations are in a frenzy trying to keep up with the management and alignment of these workers alongside their current full time or permanent work force. The role of contingent work force has become important with the changing economy and recovery from Global Recession.

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The positive emerging picture of staffing trends

The staffing companies or firms as of now are on the high growth trajectory as they were during 2013. The staffing firms are enjoying the higher demand for temporary labor and there is a demand for record number of temporary jobs that is expected to continue for the next successive years and beyond. The actual high growth trends in staffing industry started back in 2000’s with companies after getting weary of fighting Great Recession were searching ways for balancing increasing product demand with uncertainty about the workforce or prospective employees. Even though, recession is quite over, but the demand for temporary labor still exists.

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Survival tips for staffing firms in the new job market

With the job market going gung-ho with the emerging job seekers the time has come for majority of staffing firms or agencies to be bullish in the market.  The hiring levels are up with services such as finance, legal, oil and gas, education and IT and there exists the growing gap between the demand and supply. When it comes to employment these gaps should be filled up or addressed to by the staffing firms. With the U.S. economy recouping from recession and related job cuts, still there are after effects that has caused many people to disengage from the workforce after months or years of unemployment.

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An overview of temporary staffing industry

Staffing Industry Analysts have just released the latest forecast report for the U.S. staffing industry that projected that the year – 2015 would be another solid year for the IT temporary staffing market with an expected 7% revenue growth that result in a market size of $27.8 billion (which is 24% of the overall temporary staffing market). However, the analysts do predict that in 2015 the temporary IT staffing market will remain below its peak of 2000 when adjusted for inflation. 

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Recruiting and retaining competitive work force

Organizations as of now, amidst the global competition are looking to increase their market share and to improve their market competitiveness through expanding their portfolios. Business enterprises are facing challenges of launching new products and services every other day and therefore one can see a direct impact on demand for talent across a number of key disciplines. Especially for small and medium sized businesses recruiting and retaining top employees is a major cause of concern for these organizations. According to the Arthur J. Gallagher & Company Survey, the second largest challenge that employer participants reported was attracting and retaining a competitive workforce.

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The role of IT staffing firms in filling up big data roles

Filling up important technical job positions in Information Technology sector is quite a challenging task. The current trends in IT off late are to find people in the field of data analytics, which is creating a huge demand for people or candidates capable of extracting knowledge from the data. The rapid growth of big data and analytics for use within businesses is creating this demand. The McKinsey Global Institute has predicted that by 2018, the United States would face a shortage between 140,000 to 190,000 people with deep analytical skills in addition to 1.5 million managers and analysts who know how to use the analysis of big data to make effective decisions.

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The relationship of staffing firms with their clients

Staffing firms are facing tough situations these days when it comes to providing client services. On one hand, the staffing industry’s recent share of overall employment has hit record high levels on the other hand; the industry is facing low and decreasing candidate satisfaction. Client satisfaction among the staffing firms was in decline for the fourth straight year in 2013 as per the Inavero “Best of” competitions for exceptional services survey. Even more disturbing factor is that the number of clients who does not view their staffing agency or firm as a strategic partner is up by 50%.

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Steps for building the right talent pipeline

An organization’s backbone for its survival is its talented employees who contribute their might towards its journey of growth and expansion. Therefore, organizations need to define, attract and develop a right mix of critical talent to expand their businesses globally. The necessity of building a talent pipeline should never be underestimated as in the present economic scenario ensuring continuity of talent capable of navigating the company through change is quite crucial. Organizations should have a robust talent pipeline irrespective of whether that talent is nurtured in-house or recruited from outside such as from staffing firms or headhunters.

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