Industry Analysis & Industry Trends
The Employment and Recruiting Agencies industry provides a wide-range of services to clients. Agencies provide permanent placement, temporary staffing and have begun to offer expanded human resources functions. The industry is closely tied to broader economic performance and the unemployment rate. Unfortunately for industry operators, economic conditions declined and the unemployment rate skyrocketed following the global financial crisis. Clients slashed payrolls in an effort to remain profitable, resulting in an increasing number of potential applicants, but few positions to fill. Consequently, industry revenue declined 16.1% in 2009. While the industry has showed signs of recovery more recently, its performance was not able to overcome the effects of the recession... purchase to read more
Industry Report - Starting a New Business Chapter
The Employment and Recruiting Agencies industry has relatively low barriers to entry. In terms of regulations, employment agencies must be licensed; however, the process only requires a basic application and licensing fee that is typically between two and three hundred dollars. The licence allows the business to charge for the provision of its services. In addition, the industry has a low level of capital intensity. New entrants could provide services from a home office with nothing more than computer and telephone access.
Furthermore, the industry has a low level of market share concentration, with the top four operators estimated to account for less than 20.0% of total revenue... purchase to read more