- In nature, an ecosystem is a community of living organisms and non-living components interacting as an environmental system. Similarly, businesses operate in a broad and complex network of related and unrelated products and services which interact and compete with each other.
- Staffing Industry Analysts has, for the first time, attempted to codify and illustrate a Workforce Solutions Ecosystem and this report aims to highlight interconnected networks comprising the Staffing Industry and other types of Workforce Solutions.
- Workforce Solutions are third-party products and services relating to the sourcing, engagement and development of employed and non-employed (including contingent) workers. Workforce Solutions includes the Staffing Industry and five other important segments; Talent Acquisition Technology, Process Outsourcing, Payrolling/Compliance, Contracting/Consulting, and Other Workforce Solutions.
- We hope the insights in this report will serve to define and inform the industry at large. We are confident that the Workforce Solutions Ecosystem provides a good representation of the market as it exists today, but we are equally confident that it will need reviewing and updating on a fairly frequent basis, owing to the rapid evolution of technology and globalization.
- Improvements in technology combined with economic and demographic trends means that, today, the Workforce Solutions Ecosystem is undergoing a period of turbulent change presenting firms with threats on multiple fronts but also new opportunities to improve performance and competitiveness. Just as in a naturally evolving ecosystem, in a business ecosystem the companies that are most adaptable to change, and not necessarily the largest or strongest, will flourish.
- Definitions for all the terms used within this report are given at the back of this document.
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