Here and gone: Temporary staffers will be the first to go as economic growth decelerates

Over the five years to 2017, gross domestic product in Illinois has increased, leading companies to require more employees to augment their existing labor force, which helped the unemployment rate in Illinois fall. Despite economic growth, businesses still doubted the stability of the economy, leading them to hire temporary staffers over full-time employees. As a result, demand for industry services increased, especially from IT industries, as evolving technological challenges from downstream markets lead to increased demand for those providers' services, necessitating temporary employees. Industry revenue growth is expected to slow over the five years to 2022 after having grown rapidly during the previous period...read more.

Industry Statistics & Market Size
Revenue
$8bn
Annual Growth 12-17
3.9%
Forecast Growth 17-22
Profit
Employment
225,644
Businesses
1,617

Industry Threats & Opportunities

  • Despite economic growth, businesses doubted the stability of the economy, leading them to hire temporary staffers over full-time employees
  • New legislature has made hiring full-time employees more expensive
  • Companies’ outlook on their own financial stability is expected to improve
  • Industry Report - Industry Key Buyers Chapter

    International accounting practices make calculating precise market share concentration for the Office Staffing and Temp Agencies industry difficult. Operators are only required under international accounting practices to report net sales figures, which is considered to be the percentage of a temporary staffer's salary the agency keeps as a fee for placing them. However, industry revenue is calculated based on gross revenue, which includes the payment agencies receive from the client to pay the temporary staffer. While exact market share concentration estimates become difficult as a result of this, IBISWorld estimates that the Office Staffing and Temp Agencies industry operates with a medium level of market share concentration...purchase to read more.

    Additional Insights for the Office Staffing & Temp Agencies in Illinois Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Office Staffing & Temp Agencies in Illinois Industry are

  • Having a good reputation
  • Must have license
  • Access to multiskilled and flexible workforce
  • IBISWorld analysts also discuss how external factors such as Unemployment Rate in Illinois and Number of Businesses in Illinois in the Office Staffing & Temp Agencies in Illinois industry impact industry performance..

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    What's in this report

    What is the Office Staffing & Temp Agencies in Illinois Industry?

    Office staffing and temp agencies supply businesses with workers for limited periods of time to supplement existing staff. Although temp workers remain employees of the temp agency, temp agencies do not provide direct supervision of their employees at clients’ work sites.

    Industry Products
  • Office/clerical and administrative support staff
  • Industrial/trades staff
  • Information technology (IT) staff
  • Engineering and scientific staffing
  • Professional service staffing
  • Healthcare staffing
  • Other temp staffing
  • Industry Activities
  • Supplying temporary staff (except farm labor)
  • Similar Industries
  • Crop Services
  • Employment & Recruiting Agencies
  • Professional Employer Organizations
  • Celebrity & Sports Agents
  • Employment & Recruiting Agencies in California
  • Office Staffing & Temp Agencies in California
  • Employment & Recruiting Agencies in New York
  • Office Staffing & Temp Agencies in New York
  • Employment & Recruiting Agencies in Illinois
  • Employment & Recruiting Agencies in Texas
  • Office Staffing & Temp Agencies in Texas
  • Employment & Recruiting Agencies in Florida
  • Office Staffing & Temp Agencies in Florida
  • Employment & Recruiting Agencies in Massachusetts
  • Office Staffing & Temp Agencies in Massachusetts
  • Employment & Recruiting Agencies in Ohio
  • Office Staffing & Temp Agencies in Ohio
  • Employment & Recruiting Agencies in Pennsylvania
  • Office Staffing & Temp Agencies in Pennsylvania
  • Employment & Recruiting Agencies in New Jersey
  • Office Staffing & Temp Agencies in New Jersey
  • Employment & Recruiting Agencies in Georgia
  • Office Staffing & Temp Agencies in Georgia
  • Employment & Recruiting Agencies in Michigan
  • Office Staffing & Temp Agencies in Michigan
  • Employment & Recruiting Agencies in Wisconsin
  • Office Staffing & Temp Agencies in Wisconsin
  • Employment & Recruiting Agencies in Washington
  • Office Staffing & Temp Agencies in Washington
  • Employment & Recruiting Agencies in Virginia
  • Office Staffing & Temp Agencies in Virginia
  • Employment & Recruiting Agencies in Tennessee
  • Office Staffing & Temp Agencies in Tennessee
  • Office Staffing & Temp Agencies in Missouri
  • Employment & Recruiting Agencies in North Carolina
  • Office Staffing & Temp Agencies in North Carolina
  • Employment & Recruiting Agencies in Minnesota
  • Office Staffing & Temp Agencies in Minnesota
  • Employment & Recruiting Agencies in Maryland
  • Office Staffing & Temp Agencies in Maryland
  • Employment & Recruiting Agencies in Colorado
  • Office Staffing & Temp Agencies in Colorado
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Unemployment Rate in Illinois
  • Number of Businesses in Illinois
  • Corporate profit
  • Number of adults aged 20 to 64 in Illinois

  • Current Performance
  • Economic activity in Illinois
  • Structural change in employment trends
  • Industry landscape
  • Chart: Revenue Growth

  • Industry Outlook
  • Tightening monetary policy
  • Continued macroeconomic growth
  • Industry structure
  • Table: Office Staffing & Temp Agencies in Illinois Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Office Staffing & Temp Agencies in Illinois Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Mining
  • Wholesale Trade
  • Retail Trade
  • Professional, Scientific and Technical Services
  • Professional Employer Organizations
  • Healthcare and Social Assistance
  • IT Consulting

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

  • Products & Services
  • Industrial/trades staff
  • Office/clerical and administrative support staff
  • Information technology (IT) staff
  • Engineering and scientific staffing
  • Professional service staffing
  • Healthcare staffing
  • Other temp staffing
  • Chart: Office Staffing & Temp Agencies in Illinois Industry Products and Services Segmentation

  • Major Markets
  • Industrial
  • Professional, retail and service-oriented
  • Technical
  • Other
  • Chart: Major Market Segmentation for the Office Staffing & Temp Agencies in Illinois Industry

  • Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Profit
  • Wages
  • Other costs
  • Chart: Cost Structure Benchmarking – Sector vs Office Staffing & Temp Agencies in Illinois

  • Basis of Competition
    Barriers to Entry
  • Table: Barrier to Entry Checklist for the Office Staffing & Temp Agencies in Illinois Industry

  • Adecco Group AG, Allegis Group Inc., Kelly Services Inc., ManpowerGroup Inc., Randstad Holding NV,
  • Table: Adecco Group AG - financial performance
  • Table: Allegis Group Inc. - financial performance
  • Table: Kelly Services Inc. - financial performance
  • Table: ManpowerGroup Inc. - financial performance
  • Table: Randstad Holding NV - financial performance

  • Capital Intensity
  • Chart: Level of Capital Intensity for the Office Staffing & Temp Agencies in Illinois 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 Office Staffing & Temp Agencies in Illinois Industry
    Includes:
  • Industry Revenue (2008-2022)
  • Establishments (2008-2022)
  • Businesses (2008-2022)
  • Employment (2008-2022)
  • Wages (2008-2022)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    American Staffing Association (Asa)
  • An industry association that represents the US staffing industry.
  • Evaluation-To-Hire
  • The process of hiring temporary staff and evaluating them to consider full-time employment.
  • Just-In-Time (Jit)
  • A strategy implemented to improve profitability by reducing inventory and purchasing the raw materials that are needed for the immediate term only.
  • Penetration Rate
  • The percentage of the total labor force that is made up of temporary workers.
  • Temp
  • An abbreviated term for a temporary worker, who are hired on day-to-day or contracted basis.
  • Tenure
  • The duration of time that an employee works with a temporary staffing firm.
  • Turnover
  • The rate at which outgoing employees are replaced by incoming employees within an industry; measured as a percentage.
  • What Our Customers Say

    Why buy this report?

    The Office Staffing & Temp Agencies in Illinois Industry Research Report measures market size, analyses current and future trends, and provides an indication of market share for the industry’s largest companies. IBISWorld’s collection of industry market research reports gives you insightful, up-to-date information on the supply chains, economic drivers, and key buyers and markets for hundreds of industries.

    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
    • Quickly build competitive intelligence
    This report on Office Staffing & Temp Agencies in Illinois:
    • 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 Office Staffing & Temp Agencies in Illinois 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 Office Staffing & Temp Agencies in Illinois, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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