Staffing agencies or staffing firms as an industry is quite larger and according to the American Staffing Association or ASA, there are more than 17,000 staffing and recruiting companies in the United States that are operating with more than 35,000 branch offices. These staffing firms or companies range from smaller pop up shops with one office to multinational organizations having offices and branches employing thousands of employees. Their growth is also helping the job seekers as well as companies as they are directly or indirectly providing jobs to the former and prospective employees to the latter.
These staffing companies are offering wide range of employment based services in the form of Temporary and contract staffing, Recruiting and permanent placement, Outsourcing and outplacement and Human resource consulting. Among these services, the Temporary and contract staffing is the largest one accounting for about 89% of the staffing industry’s total sales in 2013 that amounts to over $106 billion in revenues. The staffing companies have emerged as the largest employment providers in the United States by hiring more than eleven million temporary and contract employees.
The rising Employment Trends Index or ETI that witnessed an upward trend during July- 2014 stood at 120.31 representing a 6.6% gain in the ETI compared to previous year. The six-month growth rate in the ETI is strongest in over two years that is a blessing in disguise to various staffing firms. As this growth in turn rise the demand for expert staffing administrators and the requirement of niche staffing services. The various reports and studies do foresee that numerous organizations requiring IT staff on their roles with about 14% of the U.S. Chief Information Officers or CIOs’ planning to stretch their hiring for the end months of 2014. About 76% hope to contract just for open IT roles that contrasted with the 67% in the first six months of 2014.
In addition, about 8% of the engineering executives plan to put their staffing requirements on hold until the end of this year which is down from 15% during the previous year with just one percent of them hoping to lessen their IT staffing levels. With the staffing market continuing to grow by leaps and bounds as result of ETI trends, majority of staffing agencies are expected to benefit through growth in their staffing revenues due to demand for their staffing services.