Key Highlights

• Recruitment and staffing are part of human resource management and involve identifying, acquiring and managing talent within an organization. Recruiting involves the process of attracting, finding and screening potential candidates for specific open positions. It includes activities such as job posting, candidate screening, interviewing and selection in order to determine the most qualified candidates to meet the current employee needs of the institution. Personnel, on the other hand, is not limited to recruitment but includes general personnel management, including recruitment, training, performance review, retention and, if necessary, dismissal. It is a comprehensive program designed to develop an organization's human resources and strategic goals. A good working environment ensures that good employees do good jobs, making employees happy, productive and efficient. In summary, recruiting and staffing strategies are essential for creating and maintaining talented and skilled employees that allow organizations to grow and develop and compete in a dynamic and evolving market.

• The market size of the Worldwide Recruitment & Staffing Industry surpassed USD XX billion in 2023, and by 2032, it is projected to reach USD XX billion, boosting at a CAGR of XX%.

• March 2022 - Access Group acquired cloud-based recruiting platform FastTrack. The platform is designed to help companies operate efficiently and grow. It will support Access Recruitment's software suite with the addition of FastTrack's payroll, invoicing and timesheet integration software. Additionally, the acquisition will expand Access Group's global presence.

• Global demand for recruitment and personnel services is increasing due to the increasing number of drivers. First, the rapid development of technology and the constant evolution of business models have led to the emergence of demand for specialist skills in various industries. Companies are increasingly turning to networked staffing organizations to find niche professionals quickly and efficiently. Second, globalization has expanded the market and created demand for international hiring and problem-solving skills. The company aims to leverage its global talent pool to access diverse skills and perspectives, foster innovation and remain competitive in the global marketplace. In addition, the gig economy and the rise of freelancers and contract workers have led organizations to rely on staff to solve employees' soft problems. Worker organizations provide a way to quickly scale up or down based on the needs of the project. Additionally, the complexity of managing employees, including compliance with laws and labor regulations, is causing companies to outsource HR to professional staff who can investigate these disputes.Finally, the ongoing COVID-19 pandemic has revealed the need for a rapidly changing workforce. As companies face uncertainty, they are relying on labor unions to provide flexible and resilient employees. In summary, the need for specialized skills, the global economy, the gig economy, HR complexity and the ability to adapt in the face of evolving challenges are increasing the demand for recruitment services and personnel worldwide.

Scope of the Industry Profile

Key Players

• Randstad

• Adecco

• Allegis

• Hays

• Kelly Services 

• Manpower Group

• Robert Half International

• TeamLease

• Insperity

• Recruit Holdings Co.

Segmentation

By Post

• Mass Hiring & Entry Level Search

• Middle & Senior Level Search

• Executive & Leadership Level Search

By Type

• Permanent Placement

• Contract Staffing

• Payroll Administration

• Other Types

By Industry

• Financial & Legal Sector

• Medical & Science Sector

• Engineering & Technical Sector

• Other Industries

By Platform

• Referrals Hiring

• Company Website

• Third Party Job Portals

• Social Media Platforms

• Other Platforms

What to Expect from Industry Profile

1. Save time carrying out entry-level research by identifying the size, growth, major segments, and leading players in the Recruitment & Staffing market in the world.

2. Use the PORTER’s Five Forces analysis to determine the competitive intensity and therefore market attractiveness of the Global Recruitment & Staffing market.

3. Leading company profiles reveal details of key Recruitment & Staffing market players’ global operations, strategies, financial performance & their recent developments.

4. Add weight to presentations and pitches by understanding the future growth prospects of the Global Recruitment & Staffing market with forecast for decade by both market share (%) & revenue (USD Million).

Recent Development

• November 2021 - Workday Inc. It has enabled new developments in personnel management, including job optimization and planning. It is important to have a capable employee scheduling solution that matches employee needs with employee preferences. With this technology, business owners can develop more flexible models and give frontline workers more flexibility and control over when and how they work.

• April 2021 - Oracle launched Oracle Fusion Cloud, a new human capital management (HCM) platform that provides employees with greater awareness, flexibility and flexibility. Oracle Journeys will allow companies to provide employees with a one-stop service to help them track all aspects of their business and complete complex tasks.

• April 2021 - Cegid, Visier, Inc., specializing in people analytics. announced its partnership and work with. The integration brings Visier's people analytics capabilities to Cegid customers through the new Cegid HR Insights product.

• July 2020 - Infor Inc. According to Global HR announced the new payroll system. In addition to home-based payroll, it also provides payroll, payroll, payroll, and other additional services. Cloud-based payroll solutions also support remote workers.

Segment Insights

By Platform 

The increasing demand for referrals hiring in the Recruitment & Staffing industry is driven by several compelling factors. Firstly, referrals are often seen as a valuable source of high-quality candidates who are a good fit for a company's culture and requirements. Employees tend to refer individuals they know and trust, which can result in reduced turnover rates and improved employee retention. Secondly, referrals hiring is cost-effective. It typically requires fewer resources and has a shorter hiring cycle compared to traditional recruitment methods. This efficiency is particularly important in today's fast-paced job market. Additionally, referrals hiring leverages the power of networks and connections. With the rise of social media and professional networking platforms, individuals have broader and more diverse networks, making it easier to tap into a pool of potential candidates. Moreover, organizations are increasingly recognizing the benefits of diversity and inclusion. Referrals can bring in a more diverse set of candidates, as employees often have varied backgrounds and experiences within their own networks.  Lastly, in a highly competitive talent landscape, referrals can provide a competitive edge. They allow companies to access passive candidates who may not be actively job searching but could be open to new opportunities through a trusted recommendation. In summary, the demand for referrals hiring in Recruitment & Staffing is growing due to its effectiveness, cost-efficiency, network leverage, diversity benefits, and competitive advantage in securing top talent.

By Sector

Demand for recruitment and personnel services in the fields of finance and law is driven by many factors. First, financial and legal affairs are regulated and require experts to delve into complex regulatory processes. As these regulations evolve, companies need professionals who can comply with the law, resulting in the continued need for service personnel. Second, globalization and the expansion of financial and legal services into new markets have increased the demand for talent with international knowledge and skills. Recruitment companies with international reach can benefit from professionals with the right skills and cultural awareness. Additionally, rapid technological developments such as fintech and legaltech have created a need for candidates with both business knowledge and digital skills. Recruiting organizations play an important role in identifying and exploiting this talent gap. Additionally, competition for top talent in the finance and legal sectors is fierce. Hiring firms with industry-specific expertise and general partners can provide a competitive advantage in attracting and retaining top professionals. Finally, the nature of these industries often leads to changes in the demand for technical services. During busy times, such as mergers and acquisitions or tax season, companies must make labor unions more profitable by occasionally providing additional resources to meet the changing needs of the business. In summary, recruitment and staffing demand in finance and law is driven by the complexity of management, global change, technological change output, competition for talent, and the need for flexible workforce solutions that meet specific business needs.

Regional Insights

Demand for recruitment and staffing services in the Asia Pacific (APAC) region is driven by several factors. First, strong economic growth in the region has led to the expansion and diversification of businesses, creating a demand for skills and management services. As large companies, they need recruiters and recruiters to find professionals who will support their growth goals. Second, the technological development and digital transformation of the Asia-Pacific region has created a demand for technical and technical skills. Recruitment companies play an important role in identifying and securing professional hires, especially in fields such as IT, e-commerce and fintech. Additionally, increasing employment within and across countries in the Asia Pacific region has led to a demand for international recruiting and staffing solutions. Companies are looking for people who can find partners around the world to access different types of skills. Additionally, the gig economy is emerging in Asia Pacific, which requires flexible workers. As businesses adapt to changes in the industry, they are relying on staffing agencies to provide temporary and casual work options. Finally, the changing regulatory environment, employment laws, compliance and practices in Asia Pacific have created a need for HR professionals who can effectively deal with cultural diversity and thus contribute to the overall growth of employment and business in the region. In summary, demand for recruitment and personnel services in Asia Pacific is driven by economic growth, technology needs, workforce mobility, economic and administrative challenges.