ARTICLE on STAFFING INDUSTRY

By: Piyush Sharma

The Staffing Industry is growing very rapidly especially as a third party payroll service provider. Over
the past five years, industry has grown at a rate of 20 to 25 percent every year. Even after the effect of
Covid 19, staffing industry has continued to grow at a rapid pace. Staffing industry has provided a
platform for recognized employment, reasonable compensation, annual benefits for temporary
workforce. Temporary staffing has gain prominence due to staffing industry.
Staffing Industry is also becoming popular in India. There are 15 leading staffing firms that generate
Rs.270 billion in revenues according to Indian staffing federation, the apex body of staffing
federation.
The most attractive market for staffing are India and Malaysia, followed by China and Ireland and the
least attractive markets are Algeria, Nigeria, Egypt and Kuwait. This shows the prospects of market
growth of staffing. Most attractive markets have high prospects of market growth and vice vercea.
There are so many upcoming trends which will affect the staffing industry like rise of digital staffing
platforms which help companies in finding talent according to their requirement in a cost effective
way.
GIG economy is also expected to grow soon which will definitely affect the recruitment strategy of
the organizations. Temporary staffing will also get very popular with this. Technology is also
changing very rapidly which is becoming an important part of staffing companies, especially in the
field of IT companies.
Staffing companies not only help organizations in recruitment process but they also provide other
services like payroll administration, recruitment process outsourcing, HR management and consulting,
Employment training, online job portals and many more.
Staffing Industry has grown a lot over past few years and is expected to grow much more in upcoming
years. It seems that staffing industry’s trend is positive and here to stay.