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2023
Mid-YearPulse
SurveySponsored
By2023
Mid-Year
Pulse
SurveyThestaf?ngindustryhaschangedsinceAstowhethertheU.S.
willexperiencearecession,theanswerdependsonwhoyouask.The
Conference
Board
thinksthattheeconomyiseithercurrentlyorwillsoonbeinarecession,whilemostbusinessleaderssurveyed
by
theNational
Association
for
BusinessEconomics
don’t
thinktheeconomyislikelytoenterarecessioninthenext
12months.Meanwhile,second-quarterGDP
cameinat2.4%,whichwasupfrom2%thepreviousquarterandabovewhatforecastershadexpected.thebeginningoftheyear.
Whenwesurveyedstaf?ngleadersinJanuaryforour2023
State
of
Staf?ng
Report,theywerecautiouslyoptimistic.Thevastmajority(85%)projectedgrowth,butmanysaidthattheywereunsureofwhattoexpectduetoeconomicuncertainty.Intermsofhowtheeconomywouldimpacttheirbusinessthisyear,
theseleaderswereevenlydividedbetweenpositive,negative,andunsure.Now,
justover
sixmonthslater,
thepictureisstillsomewhatmurky.
We’vecontinuedtoseehigh-pro?lelayoffs,particularlyinthetechsector,
butthetalentshortagepersists–theunemployment
rate
is
still
sitting
at
itsnear-low
of
3.6%.AccordingtotheSIA
|
Bullhorn
Staf?ng
Industry
Indicator,thestaf?ngindustryhasincreasedfromitsApril2023low,
butasofmid-Julyit’sstilldown10%year-over-year.To
understandhowexpectationshaveorhave
notchangedinlightofthepastsixmonths,weconductedashortpulsesurvey.
We
foundthatmoststaf?ngleadersarestillexpectinggrowth,thoughlessthantheiroriginaloutlook.Readonfordetailsaboutwhattheindustryexpectsfortherestof2023.22023
Mid-Year
Pulse
Survey33WhoTook
theSurvey?104staf?ngprofessionalsacrossallverticalstookthesurvey.
Thesamplewasverysimilartothatinthe2023StateofStaf?ngReport.Thetopthreeverticalswereindustrial/logistics,I
T,
andof?ce/clerical/administrative.Whatisyourindustryvertical?Roughlytwo-thirds(67%)ofourrespondentswerefromagencieswithrevenueofupto$24millionperyear.Whatisyourprojectedrevenuefor2023?42023
Mid-Year
Pulse
Survey55GrowthProjectionsInouroriginalStateofStaf?ngsurvey,
respondentssaidtheyexpectedtheir2023growthtolookverysimilartowhattheyexperiencedin2022.Sta?ngagencyrevenuegrowth:2022actualvs2023projectedChart
from
the
2023
State
of
Staf?ng
Report.62023
Mid-Year
Pulse
SurveyGrowthProjectionsSincethen,expectationshave
changedsomewhat.Morethanhalf(56%)ofrespondentssaidthattheyhave
revisedtheirgrowthprojectionsdownwards,with14%sayingthisrevisionhasbeensigni?cant(morethan-20%).Ontheotherendofthescale,15%ofrespondentshave
revisedtheirgrowthprojectionsupwards.Howhaveyour2023growthprojectionschangedsincethebeginningoftheyear?Overall,mostagenciesexpecttheHowdoyouthinkyourbusinesswillfaresecondhalfoftheyeartolookbetterinthesecondhalfofthisyear?thanthe?rst:57%expecttheirbusinesstogrow,
38%expectittostayaboutthesame,andonly5%expectittocontract.Respondentsintheindustrial/logisticsindustryweremostlikelytoexpectgrowth,whilethoseinITweremostlikelytoexpectcontraction.72023
Mid-Year
Pulse
SurveyGetnewclientsandplacemorecandidates#1referralsoftwareforsta?ngagenciesFast-growthstaf?ngagenciesare
88%more
likelytouseautomatedreferralmanagement(ARM)Trusted
byleadingagencies:Start
GettingMoreReferrals
?8LayoffsDataOnlyAvailable
to
SurveyParticipants.To
Sign
Up
to
Take
Future
Surveys
Click
Here
>92023
Mid-Year
Pulse
SurveyAgencyChallengesFindingnewcandidateshashistoricallybeenmoredif?cultthan?ndingnewjoborders.AccordingtoStaf?ngIndustryAnalysts’SalesandRecruitingDif?cultyscale,therehavebeenonlytwoexceptionstothistrend:abriefperiodatthebeginningofthepandemicandnow.
Sincethebeginningof2023,saleshasbeenmoredif?cultforstaf?ngagenciesthanrecruiting.Thedatafromourpulsesurveysupportthis.Findingnewclients/jobordersemergedasthebiggestchallenge,with47%ofrespondentsrankingthis#1,followedby
?ndingcandidatesat33%.AgencyChallenges(ranked
frommosttoleastchallenging)102023
Mid-Year
Pulse
Survey112023
Mid-Year
Pulse
SurveyTechnology
ImplementationPlansSincethe?rstStateofStaf?ngreport,technologyhasbeenakey
factorinagencysuccess.Thefastest-growingagenciestendtobeearlyadoptersandleadersinthedigitaltransformation.Theybelievethattechnologyprovidesacompetitiveadvantageforourbusinessandthatrecruitingautomationisgoingtotransformtheindustry.Whilethisremainstrue,ourpulsesurveydatasuggestthatnewtechimplementationsmay
currentlybeonhold.Only13%ofrespondentssaidtheyplantochangetheirapplicanttrackingsystem(ATS)
thisyear,
whilejust22%saidtheyplantoimplementanyotherstaf?ngsoftware.Doyouplanto
changeyourATSthisyear?Doyouplanto
implementanyo
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