Recent forecast on temporary staffing trends
The U.S. temporary staffing services employment is expected to grow at a rate of 3.1% annual rate for over a decade from 2012 to 2022 as per the report carried out by the Staffing Industry Analysts (SIA) - A research and industry analyst firm that focuses on contingent work force. Further, it is estimated that the U.S. temporary help services market would grow at a compound annual rate of 4.6% between 2014 and 2022. This forecast is based on underlying expectation that there would be continuity in shifts away from the use of the independent contractors due to misclassification enforcement in addition to the use of temporary workers in both professional and industrial occupations.
Examples can be had of using the services of temporary staffing agencies in health care occupations and construction sector where their usage is still below the national average. Thus, it can be expected that there exists a scope for an increase in the adoption rates for temporary staffing services. The Bureau of Labor Statistics (BLS) predicted that within the individual categories of employment there is a shift for higher skilled jobs such as health care, educational services, professional and business services that are expected to expand quite enormously.
The construction sector shows the largest or fastest job growth and this paves way for construction workers with certain skills to be hired as temporary workers or employees in this industry. The use of heavy construction equipment, the requirement of knowledge about the basic building plans that cannot be outsourced places the importance of temporary staffing agencies at a higher place in supplying the required work force.
Even though, some sectors are projected to experience major job cuts or declines including manufacturing, utilities and federal government jobs etc, that does not in turn fizzle out the importance of temporary staffing.
The positive news is that within the temporary
staffing, the analysts are seeing a compound annual growth rate of more than three
percent that indicate that staffing industry is continuing to grow not just in absolute terms but also as a share of labor force. This means that both buyers and sellers have scope for a larger staffing industry with a more flexible labor force.