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Talent Acquisition and Staffing Services to Experience Robust Growth Through 2009, IDC Finds

    Online News published in DMReview.com
November 21, 2005

According to a newly released IDC study, the market for talent acquisition and staffing services demonstrated solid growth in 2004, and early indications reveal that this trend is continuing through 2005. The study revealed that total market spending on recruiting and staffing services in 2004 grew 10.8% over 2003. IDC forecasts that worldwide recruiting and staffing services spending will experience a compound annual growth rate (CAGR) of 8.3 percent during the 2005-2009 forecast period. The comprehensive study also analyzes emerging market trends and technologies and examines the performance of over 40 staffing and talent-related vendors.

"All areas of talent management are experiencing growth, and sourcing and contingent staffing are no exceptions," said Lisa Rowan, program manager for IDC's HR and Talent Management Services. "The war for talent is re-emerging and employers are realizing that a high performing workforce is key to competitive advantage. Suppliers are responding with new strategies and offerings to help them win the battle."

The improved employment outlook in North America fueled much of the growth for talent acquisition and staffing services. The U.S. held the largest share of spending with 10.5 percent growth in 2004, and will lead in growth throughout the forecast period. EMEA, the second largest region in terms of spending, has relatively high unemployment rates, and slower growth is expected for this region as compared to the Americas and Asia/Pacific regions.

"Barely a day goes by without increasing evidence of the new war for talent, the shrinking and maturing workforce, and the need to improve employee satisfaction to ensure retention," adds Rowan. "The evidence is clear that these are top-of-mind issues that are extending beyond the HR department into the highest levels of the organization."

The study, "Worldwide and U.S. Talent Acquisition and Staffing Services 2005-2009 Forecast," presents 2004 actual revenue, comparing growth over the prior year, and a five-year forecast for the worldwide and U.S. markets for talent acquisition and staffing services. In addition, the report examines the performance of over 40 staffing and talent-related vendors. Also presented are the key market drivers, macroeconomic factors, and foreseeable risks and opportunities for the talent acquisition and staffing services market. This study also uncovers emerging trends and technologies that may have an effect on future vendor performance and customer adoption. The purposes of this study are to identify and quantify the worldwide and U.S. market opportunity for these services: permanent hiring services, temporary and contingent staffing services, online job boards, end-to-end hiring services, testing and selection services, salary benchmarking services, background check services and outplacement services.


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