Temporary Staffing Thrives During Recession
The tremendous economic slowdown over the past several years has caused companies large and small to re-evaluate their employment and benefit burden. Demand for temporary staffing is at an all-time high with no immediate signs of slowing down. All as a result of employer downsizing.
Demand for temporary workers has grown at a rate of 8.5% over the past year according to the U.S. Bureau of Labor Statistics. Industry reports show 2% of the U.S. workforce is on the payroll of a staffing company with this number expected to grow as companies continue to evaluate their employment needs and compensation structure.
In past economic slow-downs business owners turned to temporary workers to bridge the employment gaps resulting from layoffs. Once the sluggish economy regained strength employers typically returned to hiring full-time workers. The current recession is proving otherwise with many employers choosing not to transition back to full-timers. Occupations such as customer service, construction, nursing, and other medical related services seem to be fielded in which temporary workers will continue to be in demand.
Staffing companies specializing in these areas are sure to capitalize in these markets for some time to come.
By Anne Capps
Executive Vice President – American Receivable