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The World’s largest Staffing firms post $224 Billion in Revenue

Staffing Industry Analysts estimate the global staffing revenue of the world’s 100 largest staffing firms amounts to 45% of total global staffing revenue, or $224 billion, in 2019. SIA estimates the global staffing market was worth in that year $498 billion.

The data comes in a report released this week, “Largest Global Staffing Firms,” by SIA.

The 10 largest firms on the list this year include:

Rank	Company	Headquarters country	2019 revenue (billions)	Market share %
1	Randstad nv	Netherlands	$21.73	4.9%
2	The Adecco Group	Switzerland	$20.62	4.6%
3	ManpowerGroup Inc.	US	$20.25	4.1%
4	Recruit Holdings Co. Ltd.	Japan	$13.42	2.7%
5	Allegis Group	US	$12.23	2.5%
6	Hays	UK	$7.84	1.6%
7	Persol Holdings	Japan	$5.17	1.0%
8	Robert Half International Inc.	US	$4.95	1.0%
9	Kelly Services Inc.	US	$4.36	0.9%
10	Express Employment Professionals	US	$3.56	0.7%

Of the total 100 largest firms, 36 are based in the United States.; 43 in Europe, the Middle East, and Africa; and 21 in the Asia Pacific.

We all can also grow by putting together collaborative efforts, supporting each other by sharing, and learning a new process of innovative technologies to grow in our business together as an industry.

The History and Evolution of the Recruitment Industry

How did Recruitment Start?

Believe it or not, employee recruitment as we know it today originated as a product of World War II. It came about from the gaps in the workplace that resulted from the call for men to join the war efforts. A lot of vacancies emerged in the workplace, which gave birth to staffing agencies. There followed a mad scramble to hire the men and women who were not called into military service in a desperate need to fill the vacancies left by departing soldiers. Even after the war ended, professional job recruiters continued to find work for the returning soldiers.

Resumes

During the following decade, a new practice emerged: the creation of resumes that showed the applicants’ profiles and skills. Staffing companies at this stage became even more focused on efficiently linking qualified applicants with the right jobs. There were a number of limitations, though, including the fact that recruiters had to work through newspaper ads. Applying and hiring were very cumbersome at this stage because applicants had to submit their typewritten resumes by hand or mail, and recruiters had to keep track of a slew of non-digital resumes.

Computers and the Internet

The entry of computers into the workplace drastically altered the staffing process by introducing software such as the Applicant Tracking Systems (ATS) and applicant databases. This made storing and searching through application files a lot easier and quicker.

The introduction of the World Wide Web further revolutionized the recruiting process. While recruitment before was localized, the internet allowed for placement firms to look for candidates on a global scale. Different websites and social media platforms gave staffing agencies a wide reach, allowing them to find the best candidates from around the globe.

The emerging technologies transformed recruitment agencies into tech-savvy companies that rely on the latest technology to recruit the best candidate for any position in a company. Companies could call on administrative assistant recruiters, executive search firms, and more. Using their big databases, recruiters can connect employees with employers in limited time and with greater skill than ever before.

It’s a great, new world for job applicants who can apply for employment in their robes and slippers from the comfort of home. No more traipsing around from business to business with a resume in hand. People can submit their resumes online through the job sections of companies, to recruitment agencies, or through various social media platforms.

Recruiters of days gone by would find today’s processes to be downright wondrous. With all of the technology and resources in place, the entire hiring process can now be completed in a matter of days, including background checks. It’s an exciting time to be looking for an employee or a job.
What are the Challenges Faced by Recruitment Agencies?
Recruitment agencies face various challenges while conducting the hiring process. Do you want to know what those recruitment challenges are? And the best practice to overcome recruitment problems. Then explore this blog, it will provide you with deep knowledge about recruitment challenges faced by recruitment agencies.

Recruitment agencies face various challenges while conducting the hiring process. Do you want to know what those recruitment challenges are? And the best practice to overcome recruitment problems. Then explore this blog, it will provide you with deep knowledge about recruitment challenges faced by recruitment agencies.

Attracting a maximum candidate through digital advertising and building a large talent pool and then conducting the overall hiring process is a hassle for every recruitment agency.

But why? Why is the hiring process that much harder? Why does it take too much time? Why is finding good employees a difficult task? It is because of various problems, and challenges recruitment agencies go through during the period of hire.

In this article, we have mentioned some recruitment challenges and serve the best practice to overcome those challenges.

The best recruitment methods to overcome common challenges

Build a talent pool

Talent pipelines are groups of candidates you’ve already engaged who can fill future positions in your company. This can help you reduce time to hire and recruiting costs because you’ll already have qualified, pre-screened candidates in line when a role opens. To build talent pipelines:
- Look into past hiring processes for candidates who advanced to the final stages or source new candidates. Past candidates are obviously qualified, while new ones will help you build a more comprehensive and diverse candidate database. You could also consider candidates who reached out to your company by sending their resumes. When candidates are EU residents, make sure you follow the data protection laws like GDPR.
- Engage past and passive candidates. Your pipelines are stronger if candidates know you’re considering them and if you’re staying in touch. Let them determine how often you’ll communicate with them, either via in-person meetings or by sending them useful content and information.
Train hiring teams

Even experienced hiring managers and interviewers may need to level up their hiring skills. Combating biases is a common reason to train hiring teams, but coaching them on interview questions to ask or how to build rapport with candidates is also important. Here are a few ideas to train hiring teams:
- Instruct interviewers on how to prepare for interviews. Giving them a checklist will be helpful.
- Encourage them to take Harvard’s Implicit Association Test to identify their hidden biases. Educating them on how biases work is also a good idea.
- Arrange mock interviews. This will be especially useful for inexperienced interviewers.
- Disseminate recruiting resources. Ask each hiring team member whether they’d be interested in receiving interesting articles or videos with hiring advice. Set expectations of the amount they’ll need to read, for example, send an article once a month.
Diversify your recruiting strategies

It’s good to advertise on a job board that you know brings good candidates. But leaving it at that is a missed opportunity to create a truly powerful hiring process. Consider:
- Use social media to post your jobs or promote your company.
- Showcasing your culture, benefits, and employee stories on your careers site to encourage more applicants.
- Attending job fairs and hosting recruiting events whenever possible.
- Using tools like People Search to source candidates based on location, skills, and other job-related criteria.
Invest in an ATS

An ATS can streamline your hiring process by making it possible for your hiring team to collaborate and keep all candidate data in one place. A good ATS also has:
- Reporting capabilities can help you extract useful insight from your past processes to improve future ones.
- Scheduling tools and calendar integrations can help you schedule phone screens and interviews fast and minimize back-and-forth communications.
- Built-in templates, which help you post job ads and send emails to candidates fast, without writing the text from scratch every time.
- Interview scorecards can make the shift towards structured interviews smoother.
- Assessment integrations, help you evaluate candidates more objectively.
All these features (and more) power up your hiring and help you make faster and better hiring decisions.