Industrial Research Paper on employment agencies and staffing agencies

Industrial on employment agencies and staffing agencies - Research Paper Example The performance and the industry’s trends are presented so that the role of the specific industry in the development of the local economy is made clear. The employment agencies of a well developed region of US, Boston, are also presented in order to show whether these agencies can perform high both at local and at national level. 2. Employment and staffing agencies in US – overview and characteristics Employment and staffing agencies have a critical role in the development of the US economy. The 10 largest employment and staffing agencies in US are presented in Table 1 (Appendix); in the above Table companies are ranked according to the revenue of their staff for the year 2011. In the particular table it is made clear that the variety of areas covered is the key criterion for employment agencies operating nationwide while at local level specialization seems to be more important, as in the case of Boston analyzed below. According to a report published by the American Sta ffing Association, the employment and staffing agencies operating across US help towards the hiring of about 12.9 million of people annually (American Staffing Association, Staffing Statistics 2012). It is also noted that the high majority of staff identified through these agencies is full time staff, at a percentage of about 79% (American Staffing Association, Staffing Statistics 2012). ... On the other hand, businesses value employment and staffing agencies because these agencies are able to offer to employers the chance to identify staff that will be more appropriate for a permanent role but also because these agencies are the most appropriate solution for identifying staff during busy periods (American Staffing Association, Staffing Statistics 2012). It should be noted that during the recent financial crisis, the employment and staffing agencies in US helped towards the stabilization of economy, contributing in the hiring of 786,000 people from 2009 to 2012 (American Staffing Association 2012). Still, the consequences of the recession on the industry’s performance have been severe being characterized by ‘the loss of about 1.2 million jobs in the particular industry during the first 18 months of the crisis’ (American Staff Association 2012). In the future, the industry’s firms could face the market’s challenges by focusing on temporar y and part-time roles that are highly popular, compared to the permanent positions (Rossheim 2012). 2a. Staffing agencies in Boston In Boston, there is increased need for staff specialized on particular subjects. Reference is made, especially to the tech sector but also to the finance and accounting sector. The area’s job market seems to offer many prospects to appropriately qualified candidates; still, the identification of these candidates is quite problematic, as revealed through the article of Farrell (2012). Most employment agencies operating in Boston are characterized as ‘client-intimate’ (Shaheen 2012), meaning that each staffing agency focuses on the promotion of interests of employers; in other words, in Boston ‘employers are considered as