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Posted By: jbaloun / |
What will 2015 have in hold for the industrial staffing sector? Staffing Industry Analysts (SIA) asked execs and others in the industry to look into their crystal balls and provide some predictions. Here were some of their findings for 2014 and predictions for 2015 and beyond:
- Industrial staffing is the largest segment of the U.S. temporary staffing industry, and comprised 29% of industry revenue, followed by the information technology (23%), office/clerical (17%), healthcare (9%), and engineering (8%) skill segments in 2013.
- Industrial staffing revenue will grow 6% in 2014, and another 6% in 2015, according to SIA projections. The industrial segment has grown faster than the overall staffing industry in four out of the five years from 2009 to 2014 (projected) in part due to the highly cyclical nature of the manufacturing, transportation and warehousing, and construction industries.
- California ($2.9 billion) and Texas ($2.8 billion) were the largest state industrial staffing markets in 2013, each comprising 10% of the total market. Chicago ($1.6 billion), Los Angeles ($1.1 billion), and New York City ($1.1 billion) were the largest metropolitan area industrial staffing markets.
- Rounding out the five largest metro areas are New York-Newark-Jersey City ($1.1 billion), Dallas-Fort Worth-Arlington ($1.0 billion), and Houston-The Woodlands-Sugar Land ($0.9 billion).
- The industrial staffing industry generated revenue in customer industries in the following proportions in 2013: manufacturing industry (44%), transportation and warehousing (12%), construction (7%), retail (7%), wholesale (7%), and all other industries (24%).
- Nearly one-third of the 98 companies listed in the 2014 Fastest-Growing Staffing and Talent Engagement Firms report are industrial staffing firms, underscoring the strong revenue growth trends in the segment from 2009 to 2013.
- Industrial firms are more likely to offer certain benefits at sign-up compared with the overall industry: vision insurance (38% vs. 16%), dental insurance (39% vs. 15%), and life insurance (27% vs. 14%). Also, 75% of industrial firms offer paid vacation either at sign-up or after a set time compared with 57% for all staffing firms.
About Staffing Industry Analysts
Staffing Industry Analysts is the global advisor on contingent work. Known for its independent and objective insights, the company’s proprietary research, award-winning content, data, support tools, publications, and executive conferences provide a competitive edge to decision-makers who supply and buy temporary staffing. In addition to temporary staffing, Staffing Industry Analysts also covers related staffing sectors. The company provides accreditation with its Certified Contingent Workforce Professional (CCWP) program.
