The employment services industry provides a variety of human resources services to businesses. These services include providing temporary workers to other businesses, helping employers locate suitable employees, and providing human resources services to clients.
Employment Services Global Market Size
The global employment services market was valued at $786.5 billion in 2017. North America was the largest geographic region accounting for $278.4 billion or 35.4% of the global market. USA was the largest country accounting for $215.5 billion or 27.4% of the global employment services market.
Employment Services Global Market Trend
Staffing agencies are increasingly using technology to effectively recruit and manage candidates.se technologies offer features such as passive activity tracking, integration with email platforms and maintains candidate databases. This reduces recruitment time, improves placement quality, and strengthens relationship with clients. Recruitment analytics software also provides helpful business insights for staffing agencies. For example, in North America, 64% of firms use technologies such as an applicant tracking system (ATS) to track candidate activity and about 60% firms use a customer relationship management (CRM) system for business development.
The companies covered are Adecco S A, Randstad Holding NV, Manpower Inc, HireRight LLC, and Sterling Talent Solution.
The countries covered are USA, China, Germany, Brazil, Japan, UK, Spain, Russia, France, Australia, Italy, India and rest of the world.
Employment Services Global Market Segmentation
The employment services market is segmented into Employment Placement Agencies; Executive Search Services; Temporary Help Services; Professional Employer Organizations.
Employment Placement Agencies comprises establishments primarily engaged in listing employment vacancies and in referring or placing applicants for employment.
This industry comprises establishments primarily engaged in providing executive search, recruitment, and placement services for clients with specific executive and senior management position requirements.
Executive Search Services comprises establishments primarily engaged in supplying workers for limited periods of time to supplement the workforce of the client. The individuals provided are employees of the temporary help service establishment. These establishments do not provide direct supervision of their employees at the clients' work sites.
Temporary Help Services comprises establishments primarily engaged in providing human resources and human resource management services to client businesses. Establishments in this industry operate in a co-employment relationship with client businesses or organizations and are specialized in performing a wide range of human resource and personnel management duties, such as payroll, payroll tax, benefits administration, workers' compensation, unemployment, and human resource administration.
Professional Employer Organizations (PEOs) are responsible for payroll, including withholding and remitting employment-related taxes, for some or all of the employees of their clients, and also serve as the employer of those employees for benefits and related purposes.