Industry Analysis & Industry Trends
The Global HR & Recruitment Services industry relies on organizations outsourcing recruitment processes and human resource management activities. The industry's performance is largely dependent on economic conditions in major markets and the flow-on effects these have on the demand for labor.
The industry is expected to generate revenue of $499 billion in 2012, down 5.3% on the previous year, with rising international uncertainty interrupting a gradual recovery from the global recession. Over the five years through 2012, industry revenue is expected to decline at an annualized 3.4%.
Industry revenue and profit plunged in 2009 as much of the world endured recession and rising unemployment. Emerging markets performed better through the global downturn... read more
Industry Products
IBISWorld estimates that more than two-thirds 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.
Contract and labor hire involves the provision of temporary staff that remain employed by the labor hire provider, rather than becoming legally employed by the client. Labor hire is the most flexible temporary staffing option. It amounts to the provision of a ready, outsourced workforce that can be available to clients at short notice and deployed for periods ranging from one day to weeks or months... read more