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Employment Services Global Market Report 2022

Employment Services Global Market Report 2022

  • February 2022
  • 300 pages
  • ID: 6229750
  • Format: PDF
  • The Business Research Company

Summary

Table of Contents

Major companies in the employment services market are Randstad Holding NV, Adecco Group, Recruit Holdings, ManpowerGroup Inc., Hays Plc, Kelly Services Inc., ADP LLC, Insperity, Inc., Robert Half International Inc. and Korn Ferry.

The global employment services market is expected to grow from $1415.24 billion in 2021 to $1599.97 billion in 2022 at a compound annual growth rate (CAGR) of 13.1%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $2512.51 billion in 2026 at a CAGR of 11.9%.

The employment services market consists of sales of employment services and related goods by entities (organizations, sole traders and partnerships) that list employment vacancies and refer or place applicants for employment; provide executive search, recruitment, and placement services; supply workers to clients’ businesses for limited periods of time to supplement the working force of the client; or provide human resources and human resource management services to client businesses and households.

The different types of employment services are employment placement agencies, executive search services, temporary help services and professional employer organizations.An employment agency is a business that is hired to find and hire people for other businesses.

The agency can be either governmental or private, with operations at the federal, state, or local levels. The different modes include online, offline and is used by various sectors such as banking and financial, engineering, medical, information and technology, others.

Executive search services companies and recruitment agencies are increasingly relying on artificial intelligence to simplify recruitment process.Recruitment process involves screening of profiles from a large applicant pool which is time consuming.

Artificial intelligence can automate this process for effective screening and assessment of candidates.Additionally, artificial intelligence powered chat bots are being used for initial communication with job applicants and scheduling interviews.

For instance, the ARYA platform by Leoforce uses artificial intelligence to analyse profiles, resumes and information on the web to screen job applicants. Olivia, a chat bot communicates with candidates through mobile platforms or social channels to schedule interviews.

North America was the largest region in the employment services market in 2021.Asia Pacific was the second-largest region in the employment services market.

The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The countries covered in the employment services market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela and Vietnam.

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