Staffing firms have often asked for more granular data on the size of staffing markets by occupation. Luckily for staffing firms around the country, finding this information need not be a quixotic quest. In a landmark research tool released in June (accompanied by a summary report), staffing firms will now have the ability to track the market size, temporary penetration rate, and growth trajectory of more than 800 occupations, with sections containing information on specific market segments such as healthcare staffing. The 2015 Staffing Occupational Markets Guidebook is an interactive Excel tool which compiles recently released data from the US Bureau of Labor Statistics and combines it with Staffing Industry Analysts’ own research to give users detailed information on US staffing market sizes by occupation.
The tool and accompanying report can be used by healthcare staffing firms to analyze the following:
- Expansion opportunities into new occupations: The detailed data by occupation provides insights useful for assessing whether your staffing firm should begin offering temporary staffing and/or direct hire services for particular occupations or devoting more resources to sales and recruiting for certain occupations.
- Assessing market share: The temporary staffing market size estimates and temporary employment counts provided in the Excel file will allow your firm to estimate its market share by occupation. A staffing firm may discover that while it may have a small share of the overall healthcare staffing market, it might be a dominant provider in a particular occupation.
Thinking about starting a Psychiatrist recruiting division? Now you can find out the size of that staffing market ($273 - $416 million), the penetration rate of temp workers for that occupation (5.6%), the number of temporary workers in the occupation (1,404), the average hourly wage of temporary psychiatrists ($89.08), and the ten-year growth forecast for the occupation (16.18% for psychiatrists).
In a business environment awash with data, our Occupational Guidebook presents relevant information in a user-friendly package for efficient and effective analysis. This tool, along with our other tools and research, can help healthcare staffing leaders make informed strategic decisions.
