Regular survey work serves as a key pillar of Staffing Industry Analysts’ research in helping staffing firms benchmark financial and operational performance relative to competitors. Examples of such surveys with engineering segment-specific data include our “Largest and Fastest-Growing Staffing Company Rankings and Opportunity Lists” and the annual “Staffing Industry Benchmarking Consortium.”
The Pulse Survey also plays an important role in complementing these more comprehensive surveys as its bi-monthly frequency and high participation levels make it adept at swiftly reflecting changes in market trends. One metric the survey tracks is year-over-year revenue growth by sector and segment. Firms were asked to report their year-over-year revenue growth in the most recent month compared to the year-ago month. Median engineering revenue grew by 12% from December 2017 to December 2018 with 78% of firms experiencing positive y/y revenue growth.
As shown in the six-month chart below, December results reflect a continuation of the high proportion of firms per month reporting year-over-year engineering revenue growth. In terms of monthly growth, 56% of firms reported engineering staffing revenue growth from November to December 2018.
Click on chart to enlarge.
Source: US Staffing Industry Pulse Survey Report: January 2019 Update
Of course, these positive revenue trends may not automatically continue deep into 2019. However, positive indicators remain especially as demand for engineering services remains strong. Delegates at our recent Executive Forum conference in Austin, Texas, were positive on their long-term forecast for the sector. However, most engineering firms in attendance agreed that the biggest potential obstacle to sector growth was the lack of available engineering talent.
To receive the complete 25-page monthly Pulse reports, we invite staffing firms with US operations to visit our Open Surveys page and participate in the surveys. For any questions on the survey, please contact Sree Thiyagarajan at sthiyagarajan@staffingindustry.com.
