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Industry Landscape
The staffing and recruiting industry is experiencing dynamic growth, driven by a tight labor market, technological advancements, and a growing demand for specialized skills, particularly in IT and healthcare. Automation and AI are reshaping recruitment processes, while hybrid work models are expanding talent pools. The industry is focused on strategic workforce planning and agile talent solutions to address skill gaps and economic uncertainties.
Total Assets Under Management (AUM)
Staffing Industry Revenue in United States
~Approximately $200 billion USD
(5.5% (est. 2024) CAGR)
- Driven by IT and healthcare staffing.
- Increased demand for specialized talent.
- Shift to flexible work arrangements.
Total Addressable Market
195 billion USD
Market Growth Stage
Pace of Market Growth
Emerging Technologies
AI-Powered Talent Matching
AI algorithms are revolutionizing candidate sourcing and matching, enabling faster, more precise identification of qualified individuals based on skills, experience, and cultural fit.
Skills-Based Hiring Platforms
Platforms focused on assessing and validating specific skills rather than traditional credentials are broadening talent pools and reducing bias in the hiring process.
Extended Reality (XR) for Training & Onboarding
Virtual and augmented reality are being used to create immersive training and onboarding experiences, enhancing skill development and accelerating new hire integration.
Impactful Policy Frameworks
Pay Transparency Laws (e.g., California's SB 1162, 2023)
Various state and local laws, like California's SB 1162 enacted in 2023, mandate employers to include salary ranges in job postings and provide pay scale information to current employees upon request.
These laws require KORE1 and its clients to disclose salary ranges, potentially increasing transparency but also adding complexity to job postings and negotiation processes.
Federal Ban the Box Legislation (2019)
The Fair Chance Act, part of the National Defense Authorization Act for Fiscal Year 2020, prohibits federal agencies and federal contractors from inquiring about an applicant's criminal history until a conditional job offer is made.
This policy impacts KORE1's background check processes for federal roles, delaying criminal history inquiries and promoting fairer hiring practices for individuals with past convictions.
AI in Hiring Regulations (e.g., NYC Local Law 144, 2023)
New York City's Local Law 144, effective July 2023, regulates the use of automated employment decision tools (AEDTs) by requiring bias audits and public disclosure of audit summaries.
If KORE1 or its clients utilize AI-driven tools for recruitment, they will need to comply with such regulations, ensuring fairness and mitigating biases in automated hiring processes.
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