Industry Analysis & Industry Trends
The Global HR and Recruitment Services industry relies on organizations outsourcing recruitment processes and human resource (HR) management functions. Industry performance is largely dependent on economic conditions in major markets and their flow-on effects on demand for labor around the world. While the liberalization of labor laws in developed economies has historically been key to industry growth, large players are now focusing efforts on emerging markets, as these regions follow suit in the liberalization of labor laws. Although the recession hurt demand for industry services during the recession, rising GDPs in emerging economies is expected to help the industry grow... read more
Firms in this industry offer a variety of HR and staffing-related services. The majority of these services follow the business cycle as demand increases when the labor market is strong. Unfortunately for industry operators, the industry's reliance on the labor market caused demand to decline significantly during the recession for the majority of services provided.
IBISWorld estimates that about 67.0% of industry revenue originates from the placement of temporary staff. Operators in the industry supply clients with temporary labor in two main ways: leasing employees on a contract basis, and providing recruitment services for non-permanent roles... read more