Worldwide Talent and Acquisition Staffing Services Market

21. 03. 2008 | 4/2008 | Comments [0]

IDC Study Predicts Worldwide Talent and Acquisition Staffing Services Market to Reach More Than $121 Billion by 2012 Despite Potential Economic Downturn 

Worldwide Talent and Acquisition Staffing Services Market to Reach More Than $121 Billion by 2012

The market for talent acquisition and staffing services demonstrated moderate growth in 2007 but at a slightly slower rate than in the prior year, a new study published by IDC reveals. This new research report forecasts that worldwide talent acquisition and staffing services spending will increase to $121.3 billion by 2012, for a compound annual growth rate (CAGR) of 8.6% during the forecast period. The U.S. market will again lead spending and will grow through 2012 at a CAGR of 8.8%. However, projected growth rates are down slightly from prior forecasts, indicating moderation in demand for recruiting and staffing-related spending worldwide.

“Worldwide unemployment was relatively low throughout 2007,” said Lisa Rowan, program director, HR and Talent Management Services at IDC. “The U.S. unemployment rate was relatively steady throughout 2007 until it rose from 4.5% to 5.0% at the end of the year. Despite this rise and predictions of a slowing U.S. economy, the labor market remains tight, especially for positions in IT and in certain industries. Unemployment in Europe, the Middle East, and Africa (EMEA) remains higher than in the United States, but employers in these regions are also experiencing shortages in some talent areas.”

Key findings from this IDC study include:

The worldwide market for talent acquisition and staffing services in 2007 showed an increase of 8.3% over 2006. As has been the case, the United States accounted for the largest share of spending.

Top vendors across most segments posted strong 2006 results, with double-digit growth in all but outplacement services.

Workforce shortages are looming, even if there is an economic slowdown, due to the demographics of an aging population. Due to these factors, revenue related to talent acquisition and staffing will remain steady.

Suppliers of such services will be uniquely positioned to help employers achieve competitive advantage through sourcing, hiring, and retention of top talent.


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