A few weeks ago, we shared five key takeaways from the Staffing Industry Analysts (SIA) Collaboration in the Gig Economy conference on the future of staffing that all agencies should be aware of going forward. In our second recap, we dive into three of the 35 trends and innovations Barry Asin (President of SIA) and Brian Wallins (Research Director at SIA) shared during the opening keynote, “Innovation and Opportunities in the Gig Economy and Beyond: What’s New and What’s Next?”
“Talent Increasingly in the Driver’s Seat”
“We’ve gone from a talent shortage to a talent crisis,” Brian Wallins said during the presentation. This is something that has become increasingly evident in the past few months as more companies are looking for talent than talent wanting to work. According to SIA research, there are 6.7 million more job openings than individuals looking for full-time work opportunities.
Alongside this, reports of higher-than-usual rates of resignation continue to be made. Staffing agencies are being forced to find new solutions to these problems and are putting together new strategies to adapt and appeal to talent.
“Rising Share of Contingent Work”
The demand for flexible work since the start of the pandemic has accelerated and shows no signs of stopping. Whether remote, on-site, or hybrid, flexibility is favored amongst workers. But not only do candidates want more flexible work opportunities, more and more companies are also considering it as well.
Between 2009 to 2022, the share of the contingent workforce has grown by about 75% and is expected to keep growing. A major example of this can be found in healthcare, where it is now grown to be the largest industry in staffing.
More information about the growth of temporary work can be found in SIA’s Workforce Solutions Buyers Survey 2022.
“Staffing Platforms the Next Big Platform Trend”
Staffing platforms grew by almost 200% in 2021. This is a massive increase compared to the 23% growth traditional staffing models saw. It is important to note that when we look at the industries separately, the healthcare vertical saw the most significant growth. When looking at what caused this growth, you can see that agencies with a platform grew over 300% y/y compared to traditional agencies that grew only 61% y/y.
Workers that desire a more flexible work experience are flocking to these platforms because it gives them back their autonomy and empowers them to choose when and how they want to work. For the staffing agency, these platforms allow recruiters to streamline their workflow and cut out a lot of the inefficiencies they would typically face. While it took a pandemic to trigger the mass adoption of staffing platforms throughout the industry, the benefits that agencies are experiencing are long-lasting.
ActivateStaff team members attended Staffing Industry Analysts’ 2022 Collaboration in the Gig Economy conference. Staffing Industry Analysts (SIA) is the global advisor on staffing and workforce solutions. The company’s proprietary research covers all categories of employed and non-employed work including temporary staffing, independent contracting and other types of contingent labor. For more information on SIA, please visit the SIA website.