You're hired: A more stable labor market and new online recruiting methods will aid revenue

Over the past five years, the Employment and Recruiting Agencies industry performed well as strengthening labor markets boosted demand for recruiting and job placement services. Furthermore, rising corporate profit levels and heightened management restructuring activity increased demand for executive search services. Over the five years to 2023, the industry is expected to benefit from increasingly stable labor conditions that promote revenue growth. While the national unemployment rate is not expected to continue declining, a stabilizing and more fluid labor market, coupled with rising business sentiment, will continue to encourage businesses to engage in new hiring and restructuring...purchase to read more.

Industry Statistics & Market Size
Annual Growth 13-18
Forecast Growth 18-23

Industry Threats & Opportunities

  • A more stable labor market and business sentiment will encourage employers to engage in new hiring and restructuring
  • Online recruitment and networking service providers have consistently outperformed the industry
  • Traditional industry operators are expected to increase their online presence
  • Industry Report - Starting a New Business Chapter

    The Employment and Recruiting Agencies industry has few barriers to entry. In terms of regulations, employment agencies should be licensed to perform corporate consultation and recruitment activities. In some states, a counselor's license is also required for any person who interviews, counsels or advises candidates and clients on any matter related to employment and contracts. Having a license permits the business to charge for the provision of services. In addition, the industry has a very low level of capital intensity. New entrants could provide services from a home office with little more than computer and telephone access.Furthermore, the industry has a low level of market share concentration due to the ease with which companies may enter and exit the industry. Con...purchase to read more.

    Additional Insights for the Employment & Recruiting Agencies Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Employment & Recruiting Agencies Industry are

  • Ability to effectively communicate and negotiate
  • Must have license
  • Ability to quickly adopt new technology
  • IBISWorld analysts also discuss how external factors such as National unemployment rate and Corporate profit in the Employment & Recruiting Agencies industry impact industry performance..

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    What's in this report

    What is the Employment & Recruiting Agencies Industry?

    This industry comprises establishments engaged in listing employment vacancies, referring job applicants to potential employers and assisting companies with employee recruitment and placement. People referred or placed are not employees of the employment agencies.

    Industry Products
  • Permanent placement services
  • Executive search services
  • Temporary staffing services
  • Independent contractor placement services
  • Industry Activities
  • Operating casting agencies or bureaus
  • Operating employment agencies or registries
  • Operating employment referral agencies or registries
  • Providing permanent placement services
  • Providing temporary placement services
  • Providing online job and resume listing services
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • National unemployment rate
  • Corporate profit
  • Number of businesses
  • External competition for the Employment and Recruiting Agencies industry

  • Current Performance
  • Employment opportunities surge growth
  • Digital winners and losers
  • Profitability and industry structure
  • Chart: Revenue Growth

  • Industry Outlook
  • Job openings provide consistent growth
  • Future of technology
  • Profit and expansion
  • Table: Employment & Recruiting Agencies Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Employment & Recruiting Agencies Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Manufacturing
  • Real Estate and Rental and Leasing
  • Professional, Scientific and Technical Services
  • Administration, Business Support & Waste Management Services
  • Healthcare and Social Assistance
  • Arts, Entertainment and Recreation

  • Key Selling Industries
  • Commercial Leasing
  • Computer Stores
  • IT Consulting
  • Office Supply Stores

  • Products & Services
  • Permanent placement services
  • Executive search services
  • Temporary staffing services
  • Independent contractor placement services
  • Other
  • Chart: Employment & Recruiting Agencies Industry Products and Services Segmentation

  • Demand Determinants
    Major Markets
  • Industrial
  • Executive and managerial
  • Healthcare
  • Administrative and clerical
  • Technical
  • Chart: Major Market Segmentation for the Employment & Recruiting Agencies Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Profit
  • Wages
  • Depreciation, rent and other costs
  • Chart: Cost Structure Benchmarking – Sector vs Employment & Recruiting Agencies

  • Basis of Competition
  • Internal competition
  • External competition

  • Barriers to Entry
  • Table: Barrier to Entry Checklist for the Employment & Recruiting Agencies Industry

  • Industry Globalization
    Randstad Holding NV, LinkedIn Corp.,
  • Table: Randstad Holding NV - financial performance
  • Table: LinkedIn Corp. - financial performance

  • Capital Intensity
  • Chart: Level of Capital Intensity for the Employment & Recruiting Agencies Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Table: Industry Data for the Employment & Recruiting Agencies Industry
  • Industry Revenue (2009-2023)
  • Industry Gross Product (2009-2023)
  • Establishments (2009-2023)
  • Businesses (2009-2023)
  • Employment (2009-2023)
  • Wages (2009-2023)
  • Unemployment rate (2009-2023)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Table: Industry Financial Ratios
  • The opposite of outsourcing; performing a duty or task within the company itself, rather than through an outside source.
  • Outplacement Services
  • Services provided to a terminated employee to assist their search for a new job.
  • Outsourcing
  • The use of outside service providers to perform various noncore activities.
  • What Our Customers Say

    Why buy this report?

    The Employment & Recruiting Agencies industry market report contains strategic analysis of the key drivers influencing the industry. Save hours of time on research and prospecting using IBISWorld’s standardized, up-to-date reports on thousands of industries. Our industry research provides growth and profit forecasts for a five-year outlook period, presented in a clear and user-friendly format.

    IBISWorld industry market research reports enable you to:
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    • Identify threats and opportunities
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    This report on Employment & Recruiting Agencies:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Employment & Recruiting Agencies market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Employment & Recruiting Agencies, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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