According to multiple reports released recently, staffing employment increased during the second quarter of the year. Staffing companies are always looking for new ways to increase employment. There always seems to be a new strategy driving growth, but many staffing agencies have faced declining numbers in recent years despite these efforts. Now, staffing agency employment is on the rise again, and there are a few reasons for this increase, including the following four.
Changing Business Needs
Businesses’ changing needs have always been somewhat unpredictable to staffing agencies. However, a consistent shift toward outsourced staffing is one of the enormous driving forces behind the recent increase in employment. Companies in the healthcare, retail, and manufacturing sectors have found it cost-effective and straightforward to enlist help from a staffing agency. Staffing agencies, in turn, have stepped up to the plate by supplying clients with high-quality talent and consistently filling orders.
Recovery From COVID-19
Of course, the impact of COVID-19 is essential when considering the trajectory of staffing agencies in quarter two. Although it’s been several years since the pandemic began, businesses took a long time to recover — and many still are recovering. Along with this recovery came a boost in business for many staffing agencies. As companies began seeing restored revenue, the need for reliable staff increased. COVID still poses a liability to agencies and employers, though. Staffing insurance agencies play an essential role in mitigating this risk.
Shifting Workforce Demographics
Shifting workforce demographics are also a contributing factor in the second quarter’s increased employment numbers. Many retirees have decided to reenter the job market again, leading to an influx of qualified and competent candidates — many of whom only want part-time or temporary work. It makes so-called “unretirees” ideal candidates for staffing agency employment opportunities in many positions. Staffing agencies can take advantage of the skills these job seekers offer — and that boost in employment proves that many already have.
New Opportunities for Applicants
Many job seekers are also attracted to the new opportunities many staffing agencies offer. As COVID numbers declined and retirees reentered the workforce, many staffing agencies faced an increase in clients, which created an array of new opportunities for applicants. Job seekers want to find meaningful and worthwhile employment, and numbers from quarter two demonstrate that the right opportunities will indeed attract applicants.
Whether an agency is a staffing position, insurance is essential. Liability insurance for temporary staffers can protect agencies from many liabilities, including injuries or accusations of employment discrimination. Help your clients find suitable staffing professional liability insurance to prepare for even more significant numbers in quarter three.
About World Wide Specialty Programs
For the last 50 years, World Wide Specialty Programs has dedicated itself to providing the optimal products and solutions for the staffing industry. As the only insurance firm to be an ASA commercial liability partner, we are committed to that partnership and committed to using our knowledge of the industry to provide staffing firms with the best possible coverage. For more information about Staffing Professional Liability Insurance or any other coverage, we have available to protect your staffing business, give us a call at (877) 256-0468 to speak with one of our representatives.