With business planning season upon us, understanding next year’s staffing trends and challenges is crucial to creating an effective business strategy for 2019. While 2018 has been a year of substantial growth for the staffing industry, it has also been a year of struggling to recruit enough qualified candidates to fill orders due to the tight labor market. Here are a few key statistics to keep in mind as you plan next year’s growth goals and the tactics to achieve them.

Staffing Industry Growth Statistics

• Global staffing revenue is expected to grow by 7% in 2018 and 6% in 2019. Seven of the 17 largest markets are expected to grow by double-digits this year; none are expected to decline. (Staffing Industry Analysts, 2018)
• Total U.S. staffing market will rise 4% to $147.8 billion this year and 3% in 2019 to reach $152 billion. (Staffing Industry Analysts, 2018)
• Year-to-year staffing job growth has averaged 3.2% per month in the first 10 months of 2018, significantly higher than the average of 2.2% per month for all of 2017. (American Staffing Association, 2018)
• Projections for full-year GDP growth at 2.9% in 2018; growth forecast of 2.4% for 2019 and 1.9% for 2020. (American Staffing Association, Staffing Industry Playbook 2018)
• Staffing industry has been growing nearly 2x faster than the economy, on average, since end of the Great Recession. (American Staffing Association, Staffing Industry Playbook 2018)

Recruiting Statistics

• The unemployment rate held at 3.7% in October, continuing a 49-year low. (American Staffing Association, 2018)
• For 2018, the top concern for staffing firms was attracting and retaining top talent. (American Staffing Association, Staffing Industry Playbook 2018)
• In April 2018, the number of job openings totaled 6.8 million—the highest number since reporting of the metric by the U.S. Bureau of Labor Statistics began in 2000—while hires amounted to 5.6 million. (American Staffing Association, Staffing Industry Playbook 2018)

 Client and Candidate Experience Statistics

• Staffing firm clients are more than 2x as likely to pick a staffing firm based on reputation than on low price. (CareerBuilder, Staffing Advantage Report)
• 35% of staffing firms make no attempt to engage with candidates in the time between accepting the assignment and their start date. (CareerBuilder, Optimizing Candidate Experience through Technology)
• 54% of candidates say they were not given feedback or coaching throughout their assignment. (CareerBuilder, Optimizing Candidate Experience through Technology)
• Nearly 75% candidates say a staffing firm’s negative reviews has a negative impact on their likelihood to apply to open position. (CareerBuilder, Staffing Advantage Report)

 Staffing Technology Statistics

• 72% of staffing firms expect to increase their investment in technology in 2018. (CareerBuilder, Making Smarter Technology Investments)
• 84% of staffing employees think being behind the competition in leveraging technology is negatively impacting their business. (CareerBuilder, Making Smarter Technology Investments)
• 76% of staffing clients and candidates think a staffing firm using the most up-to-date technology differentiates them from the competition. (CareerBuilder, Making Smarter Technology Investments)

Looking for more information on technology trends and mobile optimization? Check out the TempWorks infographic on “Staffing Industry Trend: Applicant Tracking Systems and Mobile Optimization” for more staffing industry trends.