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 are expected to help the industry grow... read more
Firms in this industry offer a variety of HR and staffing-related services. Demand for these services follow the business cycle, increasing in response to periods of high recruitment activity. Unfortunately for industry operators, the industry's reliance on the labor market resulted in steep revenue declines during the period of high unemployment at the beginning of the five-year period to 2015.
IBISWorld estimates that 64.4% of industry revenue originates from the placement of temporary staff. Operators in the industry supply clients with temporary labor in two ways: leasing employees on a contract basis, and providing recruitment services for non-permanent roles... read more