Economic prospects and trends for the staffing sector in 2014

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Economic prospects and

trends for the staffing sector

in 2014

A guide for staffing agencies on the factors shaping the opportunities for growth and business development in 2014

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Staffing sector ahead of the recovery curve

2012: IMF suggests no

recovery to 2007 levels of

economic growth until 2018

Staffing industry

well ahead of

the curve and

an early

beneficiary of

recovery

Future for staffing

looks bright well

before 2018; how

bright is 2014 going

to be?

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Where are we now?

Slowing growth in the global economy 

Growth decelerating in emerging markets

Only moderate recovery in mature economies

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Confidence Seems to be Returning

The Eurozone crisis has receded along with fears of an EU

meltdown

The FTSE 100 is flying in the

mid to high 6,000s

Dow Jones at record highs and

204,000 US jobs created in

October 2013

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Geographical Trends

The UK

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Geographical Trends - UK

Agency rates are

increasing

There is a rise in permanent

hiring

Permanent staff salaries are inflating

Shortage of Temporary and Contract Staff

Faster Private Sector Growth in Permanent

Sectors

Stronger Public Sector Demand

for Temp/Contract

Continuing Controversy

over Zero Hours

Contracts

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UK Analysis

UK Confidence Rising Strongly

2.4% GDP Growth Expected

to be 0.9% Above Germany Optimistic CIPD Labour Market

Increased Prospects for

Private Investment

Question Mark over Zero Hours Contract Despite Enabling

Workforce Flexibility

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Geographical Trends EU

•  Migration: The free movement of labour will continue

•  North v South divide in EU employment rates

•  Eastern Europe projected to grow output by 1.2%

•  Improving confidence and private investment

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EU Analysis

•  Reduced anxiety about disintegration of Eurozone and social unrest across the EU

•  Italy and Spain expected to return to growth

•  Increase in confidence likely to attract private investment

 

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Australia staffing

demand driven by

mining and construction

Geographical Trends - Asia Pacific, the Americas & Africa

Africa projected to

create 54 million jobs in the next 10 years Latin

America growing at a steady

rate

Growth in Asia Pacific slowing

North American

economies will grow in

2014

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Geographical Trends - Asia Pacific, the Americas & Africa

Africa the biggest

opportunity for

international business Respectable

growth in Latin America of

2.5% to 2.9% appears to be

healthy

Asia Pacific cooling but China still

outstanding at 7.5% for 2014

North American pivotal to

global recovery and US

expected to grow at 2.7%

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Agencies likely to invest in

efficiency enabling

technology

Industry Trends - Technology

The Back Office is Converging with the Front

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Industry Trends - Technology

Need to maximise profitability from rising labour demand and

increased hiring

Technology is the great

enabler of efficiency 

Automating and integrating front and back office a major

opportunity

Requirement to invest, especially if deferred during

recession

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Industry Trends - Compliance & Regulation

Compliance and Regulation Remain Highly Influential "Need to satisfy demands for governance and Corporate and Social Responsibility."

www.123rf.com/photo_23197036

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Increasing awareness of

migrant worker pay

and conditions

Differences between

developed and

developing nations, but

gap to narrow

Technology has important role to play in

removing manual

overhead

Industry Trends - Compliance & Regulation

Reduces risk of compliance

failure

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Summary

•  A global return to economic growth at 2007 levels may be four years away

•  Gradual and steady improvement

•  Encouraging signals for the global staffing industry in 2014

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References

Find out more about Etz on our website: www.etzbackoffice.com

Australia Telephone: +61 2 9375 2362

UK Telephone: +44 (0)870 460 2698

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