2021 Staffing Trends for Enterprising

What are your clients’ expectations for this year? Many large firms are expecting revenue to significantly increase; cue the recruiters. This is their time to shine. It is in your client’s best interest to learn about staffing trends, challenges and opportunities, along with the ideas that will shape the future of the industry. Being aware of the insights and data can help their business thrive.

This Year’s Priorities for Enterprise Staffing

The staffing industry went through many changes over the past year, to say the least, and this year’s staffing trends reflect that. However, the main priorities for staffing and recruitment businesses remain the same – focused on candidates and clients, which can be broken down into these categories:

Candidate acquisition/sourcing

This will continue to be the top priority for staffing firms in 2021, which is likely associated with the talent shortage.

Bringing in new clients

Those who were not as successful in 2020 as they hoped will likely prioritize growing their business as opposed to those who had an increase in revenue.

Engaging candidates

Since candidate experience is so important to redeployment, large firms are the most likely to prioritize candidate experience and redeployment.

Redeploying previously placed candidates

It is much easier to redeploy than to place new candidates.

Improving management of client relationships

Strong client relationships are the lifeline to the business.

How Do Large Staffing Firms Differ?

The size of the staffing firm will impact what is prioritized. Smaller firms may be more compelled to focus on candidate engagement, while larger firms will probably zone in on candidate acquisition and winning new clients. Enterprise strategy is also likely to put the most energy into redeploying candidates, taking that time and budget away from marketing initiatives. Reiterating larger firms approach for 2021, they will be maximizing efficiency in any way operations permit, such as implementing automation and redeploying more existing candidates. Their smaller counterparts will likely be rebuilding client bases and win over candidates.

Top Recruiting Challenges

What are your clients’ main challenges for this year? Staffing firms and recruiters face a wide variety of risks daily, which is why staffing liability insurance is so important. The pandemic has undoubtedly been the leading cause for concern and evolution within just about every industry. The impact on staffing and recruitment agencies are as follows:

Pandemic related impacts on the labor market

Challenges in building candidate relationships as particular obstacles caused or exacerbated by COVID-19.

Talent shortage

The talent pools have been tight with storage in skills which has affected firms of all sizes.

Hiring freezes

A top obstacle that prevents them from securing new business.

About World Wide Specialty Programs

For the last 50 years, World Wide Specialty Programs has dedicated itself to providing the optimal products and solutions for the staffing industry. As the only insurance firm to be an ASA commercial liability partner, we are committed to that partnership and committed to using our knowledge of the industry to provide staffing firms with the best possible coverage. For more information about Staffing Professional Liability Insurance or any other coverage, we have available to protect your staffing business, give us a call at (877) 256-0468 to speak with one of our representatives.