According to Statistics Canada, the employment services industry was estimated to be a $12.5 billion industry in 2013. The industry consists of establishments engaged in the permenant placement, executive search, contract staffing, temperary staffing, and co-employment staffing services. Potential employment and staffing franchisees can capitalize on the large market available to them. The employment and staffing industry offers a broad range of services to businesses, including recruiting potential candidates, employment and personnel services as well as some human resource functions.
Staffing firms employ millions of temporary and contract workers per day. As a time-saver and a cost effective way to hire people, companies are turning to these employment and staffing companies for their hiring needs.
Another trend that is allowing employment and staffing firms to achieve success is the aging population in Canada. As baby boomers retire, these firms are finding more and more clients who need to hire people to fill the shoes of these retirees. The employment services industry will have a hand in creating these jobs through. This will increase the rate of job growth in the employment services sector, as businesses want the flexibility afforded by temporary or part-time workers. Since staffing agencies can also recruit people with specialized skills, this helps meet the needs of businesses around the nation.
They can also rely on temp-to-hire solutions offered by employment and staffing franchises. The outlook for employment and staffing franchises is great, despite any signs of a bleak economic situation. Find out more about opportunities in this tremendous growth sector today.
Trends and Facts About Employment & Staffing Franchises
The employment and staffing industry, also referred to as the employment and personnel services industry, offers a broad range of services to businesses, including recruiting and interviewing potential candidates, as well as some employment and personnel services like certain human resource functions.
The industry primarily consists of establishments engaged in the permanent placement, executive search, contract staffing, temporary staffing, and co-employment staffing services.
The revenue for the industry is anticipated to climb to $10.0 billion by the end of 2023.
According to an editorial on LinkedIn, the industry is "undergoing a transformational shift. This change is being driven by technological advancements, evolving workforce dynamics, and changing client expectations," says the founder and CEO of KinISO Matt Buffington.
Per Buffington, these are three of the most significant trendstransforming the industry:
- Technology: "Technology is revolutionizing the way staffing agencies identify, evaluate, and match talent with client needs. Artificial intelligence, machine learning, and data analytics are becoming integral to the staffing process."
- Remote work: "The pandemic (COVID-19) expedited the adoption of remote and flexible work arrangements. I contend this trend is here to stay. Staffing agencies must adapt to the new work paradigm."
- The skills gap: "Staffing agencies are now not just matching job titles, but rather skill sets. Agencies with a proactive approach to upskilling and reskilling candidates will hold a competitive edge."