Fastest-Growing Sectors for Job Seekers and Staffing Franchises
If you’ve spent any time investing the business behind the staffing franchises you’ve been considering, you know that the demand for temporary staffing has never been higher. The explosive evolution of the temporary staffing industry since the 1970s has been the subject of multiple empirical studies, with several distinct benefits being associated with this style of employment for both sides of the hiring equation (Peck & Theodore, 2007; Peck et al, 2005).
Indeed, temporary staffing is a globalizing industry with persistent demand in almost any market. Though temporary staffing has a long history in the US and UK, it has recently seen tremendous growth. Peck et al (2005) estimated that the temporary staffing market is worth more than $160-billion, and it has only continued to increase in value in the decade since.
Various theories have been put forth to explain the unprecedented growth in demand for temporary staffing services. Most experts agree that the development of temporary staffing demand is closely intertwined with the broader restructuring of the American economy, but no clear consensus has been formed (Peck et al, 2005).
Ultimately, the result is more important than the reasons behind it; staffing franchise owners don’t need to understand the history of the industry’s development, so long as they can capitalize on what’s happening now! In order to do that, you need to know exactly which sectors are leading the charge in growth. In today’s post, we share empirical findings about the fastest-growing sectors that job-seekers and staffing franchises should focus on.
Healthcare Workers – Especially in the Senior Care Sector
The home health service industry is projected to add over 750,000 jobs between 2014 and 2024, which nearly doubles the tracked performance of any other sector. It’s not hard to see why this trend is underway; everybody ages, and the Baby Boomer generation is settling into their post-65 retirement years. Furthermore, most people polled indicated that they wanted to “age in place” in their own homes, which has shifted the market’s growth away from hospital workers and towards mobile caregivers. According to census data, the number of American seniors over the age of 65 will reach 83.7 million by 2050 – that’s a huge market to tap into!
Staffing franchises looking to develop in this direction should understand that the key to in-home senior care success is trust. For staffing franchises assigning temporary workers, this usually means investing in polished background check protocols. Your client employers will need assurance about the staffing you send, especially considering how vulnerable the senior population is to theft, embezzlement, and forms of abuse.
Healthcare Administrative Professionals
Though the senior care world is booming, it’s a good time for the healthcare sector in general. There will be particular need for administrative staff in the offices of dentists and physicians. Doctor’s offices alone are projected to create more than half a million jobs between 2014 and 2024.
As is the case with senior care staffing, staffing franchises will need to deploy background checking protocol to assure doctors that their employees can be trusted around prescription medications and sensitive information.
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Peck, J., & Theodore, N. (2007). Flexible recession: the temporary staffing industry and mediated work in the United States. Cambridge Journal of Economics, 31(2), 171-192.
Peck, J., Theodore, N., & Ward, K. (2005). Constructing markets for temporary labour: employment liberalization and the internationalization of the staffing industry. Global Networks, 5(1), 3-26.