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April 16-18, 2024 | Virtual

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Tracking the very latest trends in US temporary
work, the SIA | Bullhorn Staffing Indicator delivers
forward-looking insights using real-time data for the
professional and commercial staffing markets on a
weekly basis.

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Global Daily News

  • CFOs more upbeat on US economy, generative AI talent is concern

    North American CFOs are more upbeat about the economy, but bringing in talent with generative AI skills is a concern, according to the CFO Signals report from Deloitte. The survey includes CFOs from the US, Canada and Mexico.More than half of CFOs, 59%, rate the current North American economy as good or very good. That’s up from 47% in the previous survey done in the fourth quarter. And 54% say they expect conditions in North America to improve in a year.Talent rose to the top of the list as the biggest concerns impacting generative AI adoption in the finance function. CFOs identified generative AI technical skills, 65%, and generative AI fluency, 53%, as two of the most important skills.“We are seeing gen AI continue to rise on the agenda of CFOs as they explore ways for this innovative t …

  • Legal Soft acquires Southern California-based staffing firm

    Legal Soft, a virtual legal staffing company based in Los Angeles, acquired Berry Virtual, a Woodland Hills, California-based provider of virtual staffing services focused on executive assistance, customer service and accounting.The acquisition merges Legal Soft’s knowledge in the legal sector with Berry Virtual’s experience in virtual staffing, according to the company.“This strategic move is more than an acquisition; it’s a merger of talents, aspirations and a shared vision for the future of virtual staffing,” Legal Soft CEO Hamid Kohan said in a press release.Founded in 2021, Berry Virtual recorded $3.5 million annual recurring revenue over the past two years through bootstrap initiatives and has a team of 40 professionals.SIA has reached out for more information.

  • Nearly half of hiring professionals already use AI

    Nearly half of hiring professionals, 47%, use artificial intelligence, according to a survey by CareerBuilder and the Morning Consult. The top AI applications in hiring include screening candidates, scheduling interviews, analyzing applications, employee onboarding and sourcing.“AI in hiring is now mainstream and here to stay,” CareerBuilder Chief Revenue and Marketing Officer Kristin Kelley said in a press release. “Employers should consider adopting AI technology to stay competitive.”Employers should also start formalizing AI policies and guidelines as well as think through roles so that human team members are delivering the most impact, Kelley said.Other findings included: The majority, 86%, felt more training and education on AI isneeded. Ethical considerations such as bias and privacy …

  • US Chamber sends letter to stop new independent contractor rule

    The US Chamber of Commerce sent a letter to US Senators and House members to encourage them to reject the US Department of Labor’s new final rule covering independent contractor misclassification. The letter was also signed by 22 organizations including the American Trucking Associations, Associated Builders and Contractors and the International Warehouse Logistics Association.“The new rule is confusing, difficult to apply and will invite unnecessary litigation and uncertainty for the tens of millions of workers that derive income as independent contractors,” according to the US Chamber of Commerce’s letter.Included in the new rule is a multifactor “economic reality” test to determine when a worker is an independent contractor. It rescinds an earlier Trump-era independent contractor rule f …

  • Europe’s AI Act will regulate employer usage; SHRM weighs in

    The Society for Human Resource Management in the US commented in the European Union’s recent approval of its Artificial Intelligence Act, which will impact how employers in Europe can use AI. SHRM said it aims to take part in the conversation over implementation of the act and, in the US, will work with legislators on possible AI policy.Europe’s new Artificial Intelligence Act, among other things, requires that “high-risk” AI systems will have to be registered in an EU database and assessed before being put onto the market. These include those used in employment, worker management and in access to self-employment, according to SIA’s Europe Legal Update Q1 2024. Such systems would also be assessed throughout their lifecycle.The EU Parliament approved the Artificial Intelligence Act on March …

  • Hudson cites tech hiring slowdown, sees improvement ahead

    RPO provider Hudson Global Inc. (NASDAQ; HSON) last week reported fourth-quarter revenue fell amid a slowdown in tech and hiring delays. However, the Old Greenwich, Connecticut-based firm sees improvements coming this year.“Our fourth quarter financial results continued to reflect the year-over-year impact of the slowdown in the US technology sector and as well as fourth quarter hiring delays at certain clients, which we expect to recover beginning in the second quarter of 2024,” CEO Jeff Eberwein said in a press release.Fourth-quarter revenue at Hudson was down 22.4% in constant currency to $34.0 million.“The fourth quarter represented a significant strategic shift for Hudson RPO,” Eberwein said.“In November, we hired Jake Zabkowicz as Hudson RPO’s global CEO, and he has begun i …

  • Grupa Pracuj issues profit warning after fall in Beamery’s value

    Grupa Pracuj, the parent company of a number of Eastern European job board brands, issued a profit warning today after it estimated that the fair value of shares in Beamery, which it holds a stake, decreased by approximately PLN 29.5 million (€6.8 million) against the valuation as of 31 December 2022.In an announcement on Friday, the group said that in the course of preparation of the standalone and consolidated financial statements of the company (and its capital group) for the year ended on 31 December 2023, it determined that it is necessary to update the valuation of one of financial assets measured at fair value through profit or loss, i.e. shares in Beamery Inc.Taking into the account the impact of the deferred income tax, the company estimates that the group's and company’s net …

  • DISA Global Solutions expands footprint with Amsterdam-based acquisition

    DISA Global Solutions, a US-based background screening and employee compliance services provider, acquired Validata Group, a background screening company headquartered in Amsterdam, Netherlands.The deal, which aims to expand DISA Global Solutions’ presence across Europe and strengthen its global capabilities, closed on 1 February.“The acquisition of Validata Group is a milestone in our journey towards global leadership in the background screening sector,” DISA Global Solutions President and CEO John Peterson said in a press release.“Validata’s advanced technological platform, combined with its team's extensive knowledge of European and global compliance, will enable us to offer an even broader range of services. This partnership expands our geographic reach and enriches the quality of …

  • Temporary employment in France falls 9.8%

    The number of temporary workers in France declined by 9.8% in January 2024 compared to the same period a year ago, according to the latest Prism’emploi barometer.When compared to December, the number of temporary workers in France fell by 2.0%The barometer added that January’s results “must be interpreted with caution due, this year, to the positioning of the Christmas school holidays, half in January, and more unfavourable climatic conditions than in 2023.”According to Prism’emploi, temporary employment, which had increased slightly in the second half of 2023 in construction, recorded a 10.8% annual decline, which the barometer said was “undoubtedly aggravated by episodes of cold limiting work on certain sites.”At the same time, due to the persistent sluggishness of household consumption, …

  • Active job postings across the UK slip in February

    Active job postings in the UK totalled 1.8 million in February 2023, down from 2.5 million during the same period last year, according to the latest Recruitment & Employment Confederation (REC) and Lightcast Labour Market Tracker.The Tracker showed that the number of active postings in February 2024 was 1,873,386, lower than a year ago (2.5 million) but ahead of the equivalent figure for February 2020 (1.57 million). At the same time, there were 810,651 new job postings in February 2024, a 5.5% fall from the month before.The Tracker also said February’s figures reflect continued labour shortages driven by a smaller active workforce, skills shortages in sectors like engineering and fast changes in consumer markets.Overall, when looking at the government region statistics the Tracker not …

  • OECD unemployment rate unchanged at 4.8% in January

    The unemployment rate for countries in the Organisation for Economic Co-operation and Development area was broadly stable at 4.8% in January 2024.The OECD noted that the rate has remained below 5.0% since July 2022.In January, the rate was broadly stable over the prior month in 23 OECD countries in January, rose in six countries, and declined in three countries.Meanwhile, the number of unemployed persons in the OECD decreased to 33.5 million in January, mainly driven by a decrease in the number of unemployed younger workers (aged 15-24).In the European Union and the euro area, the unemployment rate remained at record lows of 6.0% and 6.4%, respectively. In January 2024, it was stable or increased in most OECD euro area countries. Only Austria recorded a marked decrease.Outside the European …

  • Australian Union sues Qantas over illegal pandemic firings

    Australia’s Transport Workers Union (TWU) is suing airline Qantas in the federal court over what it says is “the largest case of illegal sackings in Australia’s corporate history”, reports The Guardian. A court previously found Qantas contravened the Fair Work Act by its decision to outsource the roles of almost 1,700 ground staff at 10 Australian airports in late 2020. The airline fought the case all the way to the high court, but lost its appeal in September. Qantas previously claimed the outsourcing would save more than AUD 100 million (USD 65.6 million) a year to help cope with the impact of the pandemic on air travel.The court heard today that some of the workers suffered significant psychological distress after losing their jobs and had to take medication to cope. The court will …

  • Uber agrees to $178 million payout with Australia taxi drivers

    Work services platform Uber has agreed to pay AUD 271.8 million ($178.5 million) to settle a lawsuit in Australia, reports BBC News, citing a law firm for taxi operators and drivers. Maurice Blackburn Lawyers, an Australian law firm, filed the class action on behalf of over 8,000 taxi and hire car owners and drivers. The case alleged they lost income when the ride-hailing giant "aggressively" moved into the country. "Uber fought tooth and nail at every point along the way," the law firm said.In a statement, Uber said, “Since 2018, Uber has made significant contributions into various state-level taxi compensation schemes, and with today's proposed settlement, we put these legacy issues firmly in our past.” The company did not disclose the size of the proposed settle …

  • China's urban employment stable in early 2024

    China's employment situation was generally stable during the first two months of 2024, reports Xinhua, citing data from the National Bureau of Statistics (NBS). The surveyed urban unemployment rate on average in China stood at 5.3% in the first two months of 2024. In January, the country's surveyed urban unemployment rate reached 5.2%. In February, the rate came in at 5.3%, 0.1% higher from January due to the impact of the Chinese New Year holiday, which is in line with the seasonal trajectory of the job market, NBS spokesperson Liu Aihua said in a press conference. China's surveyed urban unemployment rate decreased by 0.3 percentage points respectively in January and February compared with the same period in 2023, Aihua added.Aihua emphasised the improvement in the employme …

  • Howtelevision to acquire engineer recruiter Logrio

    Howtelevision, a Japan-based company which offers a graduate recruitment platform, announced it will acquire Logrio, an engineer recruitment firm also based in Japan.The price of the transaction is approximately JPY 244 million (USD 1.65 million).“Our group has been developing its career platform business based on two products: “Foreign Job Hunting.com'' for new graduates and “Liiga'' for mid-career employees,” Howtelevision stated. “In response to the high demand for engineer positions at client companies, we are focusing on expanding this field.”The company added, “By making Logrio a wholly owned subsidiary, we will strengthen our group's engineer recruitment support business, provide high value-added services to users and client companies, and aim to continuou …

Latest Research

  • North America Internal Staff Survey 2024: Full Report

    This report summarizes SIA’s tenth annual survey of the internal staff of North American staffing firms. This latest survey was conducted in late 2023 and implemented in conjunction with the 2023-2024 Staffing Industry Analysts’ “Best Staffing Companies to Work For” competition. Over 21,000 internal staffing firm employees from 282 North American staffing firms participated.Contents of the current survey and access to individual survey reports Use of AI and other technology by staff, training needed, desired technology Remote work prevalence, preferences, and how to support it Recruiting internal staff: what candidates want, who to recruit, effective methods How to retain internal staff: what drives staff satisfaction and why it matters Internal staff training: what staff want and importan …

  • North America Legal Update Q1 2024

    In this report, we round up the legal developments affecting the workforce solutions ecosystem across North America in Q1 2024:Canada New administrative policy for determining province of employment for payroll deductions    British Columbia introduces minimum employment standards for gig workers              United States    DOL rule to address classification of independent contractors under the FLSA effective as of March 11        NLRB new joint employer standard struck down         Proposed rule increasing salary thresholds for overtime exemption expected April 2024   OSHA sets online work injury reporting rul …

  • Latin America Legal Update Q1 2024

    In this report, we round up the legal developments affecting the workforce solutions ecosystem across Latin America in Q1 2024:Brazil     Regulations provide clarity on pay transparency law         Chile     Law on workplace sexual harassment passed      Colombia            Bill to reform temp work law back on the table   Mexico New requirement for providers of specialized services to renew registration every three years             Congress to consider multiple bills to reform labor laws          To download the full r …

  • How To Retain Internal Staff

    What drives staff satisfaction? Staff repeatedly emphasize the importance of senior leadership. In multiple staff survey questions, from both the current and previous SIA surveys, respondents indicate that quality of senior leadership is the #1 driver of staff satisfaction. Nine other drivers are also examined and evaluated. Staff satisfaction is the key to retention. Among staff giving their firm a net promoter “likelihood to recommend” satisfaction score of 0-4, the share saying they were open to quitting was in the 82%-88% range; that share declined with each subsequent score increment; above a score of 7, the share open to quitting was less than 10%. What else matters? Allowing at least some remote work time is important to staff satisfaction, and with some staff it matters a …

  • SIA | Bullhorn Staffing Indicator – March 12, 2024

    US Staffing Hours Reflect Weak Market Conditions Week ending Mar 2, 2024 Indexed Value Y/Y W/W US Staffing 86 -12% 1.0% Commercial Staffing 72 -12% 1.1% Professional Staffing 122 -10% 0.9% IntroductionReleased weekly, the SIA | Bullhorn Staffing Indicator comprises two sets of analyses; a Year-over-Year comparison showing how the week that ended ten days ago (“last week measured”) compares to the same week 12 months previously and an indexed value that has been benchmarked against data from the week ending January 13th, 2019.Year-over-year changes for the week ending March 2ndTemporary staffing hours worked for the week ending March 2nd (“last week measured”) were down -12% compared to the corresponding week a year ago, according to the Indicator.Temporary staffing hours completed in comme …

  • Europe Legal Update Q1 2024

    In this report, we round up the legal developments affecting the workforce solutions ecosystem across Europe in Q1 2024:European Union               Negotiations rescue an amended Platform Workers’ Directive             Parliament approves AI Act, expected to become law in May Disagreements stall progress on the Corporate Sustainability Due Diligence Directive Belgium               Federal Learning Accounts will track employees’ entitlement to training          Increased liability for immigration violations by subcontractors     …

  • Middle East and Africa Legal Update Q1 2024

    In this report, we round up the legal developments affecting the workforce solutions ecosystem across the Middle East and Africa in Q1 2024:Kenya   Bill introduces mandatory registration of employment agencies Mozambique     New labour law comes into operation     South Africa       Earnings threshold increases from 1 April 2024            Non-resident employers may have to deduct tax from remuneration To download the full report, click below:  MiddleEastAfrica Legal Update Q1 20240313 – You do not have permission to view this object. Legal Disclaimer: The information contained in this report is provided solely for the purposes of information and shoul …

  • Egypt Overview and Staffing Market 2024

    Key Findings This report is divided between an overview of the Egyptian labour market and the specifics of the staffing industry. The Egyptian population in 2022 was 103.6 million. The working population is 30.1 million, of whom 7.2% are unemployed. Agriculture is the largest employment sector in Egypt, representing 19% of total employment in 2022. Roughly 20% of workers (5.6 million) were in public enterprises or the government. In 2021, 883 thousand permits were issued for Egyptians to work abroad. This is far fewer than in 2019, when 1.11 million permits were approved. Real GDP growth in 2023 was lower than in recent years at 4.2%. In October 2023, the IMF forecasted weaker growth of 3.6% in 2024 and stronger growth of 5% in 2025. Labour legislation in Egypt is complex. Under the l …

  • This is the third research report published by SIA focusing on the impact Diversity, Equity, and inclusion (DE&I) is making in the staffing industry. Organizations are navigating an uncertain business environment with high inflationary pressure. With attention shifting towards cutting costs, some staffing companies seem to have lost sight of the benefits that DE&I initiatives afford their organization and wider society. According to SIA’s recent report, Proving the Diversity Business Case for the Recruitment and Staffing Industry, staffing leaders are not at the forefront of advancing the agenda as much as they could be. With only 23% of board members influencing these initiatives, they are instead being led by internal staff and clients. Environmental Social and Governance (E …

  • EMEA Financial Results Q3 2023

    Revenue in the reported 33 publicly traded staffing firms in the EMEA region grew by a median of 5.8% during Q3 2023, compared to the same period in 2022. Among the companies included in this report, 13 firms reported a decrease in revenue. The median gross margin fell by slightly by 0.85% compared to last year. Median net income decreased by 26.0%. Due to the varying nature of financial reporting styles across EMEA, some companies reported their revenue in only half years and other varying periods. Several firms had not yet announced their results for the period at the time of publication of this report. UK – The report includes 12 UK-based staffing companies. The UK companies reported a year-on-year median revenue increase of 3.9%. Sweden – Five of the six listed Swedish staffing firms r …

  • Asia Pacific Legal Update Q1 2024

    In this report, we round up the legal developments affecting the workforce solutions ecosystem across the Asia Pacific region in Q1 2024:Australia              Changes to classification of employees, casual workers and platform workers in Closing Loopholes No.2 Act Paid parental leave increase from 1 July 2024               Hong Kong          Gradual increases to statutory holidays introduced   Rule “418” for determining continuous employment set to change    Japan    Employers’ obligations to notify terms and conditions of employment to change      …

  • Proving the Diversity Business Case for the Recruitment and Staffing Industry

    This custom research report was commissioned by Access Recruitment and conducted by SIA.Key Findings: Staffing firms who are leaders in DE&I enjoy significant competitive advantages over their peers in client win rate, talent access, and overall talent quality. Additionally, these leaders have advantages attracting internal staff, at a higher quality, who are more satisfied. Barriers, particularly lack of candidate diversity data and the systems that enabling measurement, prevent many from achieving these potential gains. Leaders leverage the virtuous circle that results from starting small, proving success, and expanding organically to meet increasing demand. To access the complete report, please select the link below. The Business Case for Diversity in Staffing 20240228 – You do not …

  • This is the third research report published by SIA focusing on the impact Diversity, Equity, and inclusion (DE&I) is making in the staffing industry. Organizations are navigating an uncertain business environment with high inflationary pressure. With attention shifting towards cutting costs, some staffing companies seem to have lost sight of the benefits that DE&I initiatives afford their organization and wider society. According to SIA’s recent report, Proving the Diversity Business Case for the Recruitment and Staffing Industry, staffing leaders are not at the forefront of advancing the agenda as much as they could be. With only 23% of board members influencing these initiatives, they are instead being led by internal staff and clients. Environmental Social and Governance (E …

  • Staffing and Workforce Solutions Mergers and Acquisitions Database

    AboutThis tool contains a database of mergers and acquisitions related to companies in the staffing and workforce solutions industry. Flexible search and filtering were top of mind when designing this tool.In addition to the database, this tool also provides interactive visualizations regarding the underlying data.For each transaction, the database provides a row of information that includes the date of the acquisition announcement, the names and locations of both the acquirer and target company, notes on the acquisition price, if any, and a link to the corresponding news item in Staffing Industry Analysts’ Daily News, or another source if the transaction was not covered in the Daily News.The tool can be accessed using the link below:Staffing and Workforce Solutions Mergers & Acqu …

  • Analytics and Benchmarking Tools for Talent Acquisition

    While Analytics & Benchmarking Tools encompass a variety of different products with various use cases, we have identified two distinct categories of tools. Internal Workforce Analytics allows businesses to analyze staff and candidate data generated from payroll systems, performance reviews, engagement surveys, and more, while Labor Market Analytics refers to software that analyzes labor market data to gain insights into specific job markets. More than half (55%) of enterprises with contingent workforce programs have adopted workforce analytics tools, according to SIA’s 2023 Workforce Solutions Buyer Survey, up from 46% in 2019. Enterprises identified as “Leaders” are significantly more likely to have adopted analytics and benchmarking tools (65%), compared to “Laggards” (46%).  A …