Often, the
future is approached with hesitation and fear, especially in the staffing
industry. The unknown ways the market may shift can leave both businesses and staffing agencies vulnerable
if not prepared.
Keeping ahead
of the trends can be the difference between a successful agency and a failing
agency in five years’ time. Below, we predict how the contract staffing industry
is expected to change in the foreseeable future. How will these modifications affect
your business?
Continued Growth
The temp
staffing industry in India has maintained continuous growth over the past few
years. In 2019, it is expected to continue to grow by three percent. The
majority of businesses still consider profitability to be their main priority,
so the prospect of saving 30 percent when hiring temp workers over employees is
extremely tempting. Because they require no employment insurance, CPP, benefits,
or vacation time, independent contractors are significantly more appealing for
companies looking to stretch their dollar.
An increase
in the demand for temp staff will require temporary staffing companies to continue
to develop their candidate pools to accommodate this increased need.
Perception Shift
The temp
staffing industry often gets a bad rap. Whether it’s that temp staffing firms
take a cut of temps’ paycheque or all temps are unskilled, we’ve heard it all.
We, however, know this simply isn’t true, and it’s time for the rest of the
world to know it as well.
With the
continued growth of the staffing industry, more people are becoming aware of
the benefits of temporary recruiting and how it can benefit both Indian employees
and businesses.
Increasing Opportunities for Qualified Candidates
As the baby
boomer generation reaches the age of retirement, there will be a significant
gap in the workforce. Many empty positions will need to be filled. While
technology is making more and more positions redundant, there are many jobs
that can never be replaced by technology, leaving great opportunities wide open
for qualified candidates.
This means
staffing agencies will need to potentially alter their hiring processes to
appeal more to the millennial demographic, compared to the previous hiring
practices of the older generations, in order to attract top-quality candidates.
Focused Industries
In the
future, it is predicted that we will see a decrease in temporary staffing
positions in the private sector and service industry, and an increase in the
governmental, healthcare, education, and construction industries. This is where
temporary staffing companies niche
markets may be affected and could prompt the restructuring of your agency if
you’re focused on an industry that is facing decreasing demand.
Continued Importance of On-Demand Placement
In today’s
technological age, we want everything instantly. With simply the touch of some
of the buttons, you can arrange food, book a taxi, or pay a bill immediately. The
same requirement is exceeding the staffing business.
At the point
when organizations need to recruit employees, they need them now. This means
that future temporary staffing positions will need to be filled quickly—the
sooner the better. As such, staffing agencies need to find a way to maximize
their efficiency and speed up their hiring processes now in order to stay up to
speed with the requests of their clients.
Flexibility, Flexibility and Flexibility
It’s so important;
we had to say it three times. With all the other changes coming to the temp
staffing industry, your agency needs to be extremely flexible to accommodate
any and all situations.
A client
wants a qualified candidate by the end of the month? Flexibility.
You’re
introduced to a new industry you’ve never recruited in before? Flexibility.
It’s all
about flexibility. This means expanding out of your comfort zone and trying new
procedures in order to meet clients’ needs.
So what are
you waiting for? Search for a decent temporary staffing company in India and
begin today or visit our website http://kvb-group.com/web/home or mail us on
info@kvb-group.com
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