Steady Growth Ahead for Staffing Businesses that Can Keep Up | Timerack
May 20, 2019
Survey data recently released by the American Staffing Association shows that U.S. staffing companies posted a record high in 2018 for the average weekly number of temporary and contract workers they employed.
The data shows an average of 3.23 million temporary and contract workers employed per week in 2018, an increase of 1.4% from the year before. It was the highest weekly average since the organization began doing its annual staffing employment survey in 1990.
The numbers are consistent with what the U.S. Bureau of Labor Statistics projects as “steady demand’ for staffing services through 2026, according to an ASA analysis of the agency’s 2017 report “Projections, Overview and Highlights 2016-2026.”
A Decade of Opportunity and Challenges
The Bureau report projects the employment services industry, which includes employment placement agencies, temporary help services and professional employer organizations (PEOs), will grow from 3.6 million to 3.8 million jobs over the decade.
The growth will not be without challenges, however, as a talent shortage created by continued low unemployment and an aging workforce gives the edge to companies that can fine-tune their recruiting and hiring processes to ensure a steady pipeline of qualified candidates along with the workforce practices that will help retain them.
These are challenges ready-made for digital transformation, which can eliminate the drudge work, put critical information at your fingertips and boost the efficiency and motivation of your workforce. There are few industries as well-suited to take advantage of digital efficiencies as the staffing industry. From digital recruiting and application tracking to state-of-the-art software for time and attendance tracking, benefits management and more, digital transformation has the power to put your focus back on the people skills you will need more than ever in a shrinking talent pool.
Put Your Talents Back into the Talent Search
If your current system has you spending all your time juggling reports and paperwork, you know how difficult it is to keep up and still have enough energy left over for the creative thinking that really drives your business, especially as you navigate opportunities for growth.
Timerack time and attendance software includes features that allow you to customize your workforce tracking and reporting, whether you want to track time by department, location or client. You’ll also benefit from built-in mark-up calculations that make invoicing a breeze.
Other Timerack features can help with scheduling and tracking of training and certification deadlines, or tracking a mobile work force. An embedded HR module puts a broad array of additional solutions at your fingertips, including applicant tracking, benefits tools and built-in educational materials like lists, documents and handbooks. Additionally, utilizing the services of Timerack partner HRAnswerLink grants access to a library of state, local and federal workplace regulations.
A sophisticated time tracking tool and more – Timerack software has the power to give you back more of your most important asset: time. Timerack software interfaces with a wide range of payroll platforms and can be customized to create a bridge to any payroll platform.
Watch our “Time Crunch” video below to learn more about our time-saving solutions for the staffing industry. Or click on the link below to speak with a Timerack representative.