Here are some stratospheric numbers — and no we are not talking about Facebook’s impending IPO. In 2012, Staffing Industry Analysts’ Timothy Landhuis projects that IT staffing revenue could be as much as $23.5 billion. IT staffing is red-hot right now. In comparison, at the peak of the dot-com bubble in 2000, revenue from the IT segment was $21.5 billion.
It’s a good time to be in staffing. Landhuis’ forecast informs us that the size of the total staffing industry this year is almost $130 billion, with a 10 percent growth rate. This is great news for the industry, but of course, there are caveats. Buyers of staffing services may not have the same leverage they once did. Multiple customers will be knocking on the same doors looking for quality talent. Expect bidding wars and higher margins.
Suppliers, be warned, too: the economic recovery is slow. You might have to wait to see your margins pick up. And once things do start picking up, there will be those that want to increase headcount and move away from contingent workers to more traditional employees.
But warnings aside, it’s good news. So enjoy the ride as we scale new heights.