Find stats on top websites
Industry Landscape
The recruitment and staffing industry is currently experiencing significant growth, driven by increasing demand for specialized talent, particularly in tech and finance. Automation and AI are transforming operations, while the gig economy and remote work trends are reshaping talent acquisition. The market is competitive, emphasizing niche expertise and value-added services like human capital consulting.
Total Assets Under Management (AUM)
Staffing Industry Revenue in United States
~Approximately 180 billion USD (2023 estimate)
(1.0% (2024 projection) CAGR)
• Expected to grow at a slower rate in 2024 compared to previous years.
• Growth is influenced by economic conditions and demand for flexible labor.
• Certain segments like IT staffing continue to see strong demand.
Total Addressable Market
180 billion USD
Market Growth Stage
Pace of Market Growth
Emerging Technologies
AI-Powered Talent Matching
AI and machine learning algorithms are enhancing the precision and speed of matching candidates to job requirements, moving beyond keywords to understand context, skills, and cultural fit.
Blockchain for Credential Verification
Blockchain technology can create secure, immutable records of professional qualifications and work history, streamlining verification processes and reducing fraud.
Virtual Reality (VR) for Skills Assessment & Onboarding
VR offers immersive environments for realistic skills assessments and interactive onboarding experiences, improving candidate evaluation and employee integration.
Impactful Policy Frameworks
New York City's Automated Employment Decision Tools Law (2023)
This law, effective July 5, 2023, requires employers and employment agencies using automated employment decision tools (AEDTs) to conduct bias audits and publish summaries of those audits, as well as provide notice to candidates that AEDTs are being used.
This policy will require Quantitative Systems to ensure any AI/ML tools used for talent matching or screening comply with bias audit and notice requirements, potentially increasing operational overhead but also promoting fairness.
California Privacy Rights Act (CPRA) (2023)
Effective January 1, 2023, the CPRA expands upon the California Consumer Privacy Act (CCPA), granting consumers more control over their personal information and establishing the California Privacy Protection Agency (CPPA). It specifically applies to employee data.
Quantitative Systems must enhance its data privacy practices for both candidates and client data to comply with stricter consent, data access, and deletion requirements, particularly for California residents.
National Labor Relations Board (NLRB) Joint Employer Standard (2023)
The NLRB's new rule, effective December 26, 2023, broadens the definition of 'joint employer,' making companies potentially liable for labor violations of their contractors or franchisees if they possess the authority to control essential terms and conditions of employment, regardless of whether that control is exercised.
This policy could increase legal and compliance risks for Quantitative Systems and its clients, especially those utilizing contract or temporary staff, requiring careful review of employment agreements and control over contractors.
Transform Your Ideas into Action in Minutes with WaxWing
Sign up now and unleash the power of AI for your business growth
