April 09, 2024
The amount of revenue flowing through temporary staffing platforms fell by 17% in 2023 to $18.0 billion, according to research by SIA. A challenging business environment resulted in fewer staffing firms pursuing platforms in 2023. Still, revenue going through temporary staffing platforms posted a 73% compound average growth rate since 2019.
And while 2023 was a down year, staffing firms shown interest in temp staffing platforms over previous years. According to the report, 12 of the 15 largest staffing companies worldwide had a staffing platform last year, up from just four in 2019.
Temp staffing platforms are particularly big in healthcare staffing. They represent more than 20% of US staffing revenue for travel nurse, per diem and allied healthcare staffing.
How are temp staffing platforms defined? Here’s the entry from SIA’s Lexicon:
“Temporary staffing platforms optimize the matching of the best, most relevant temporary workers to a given job, leverage automation and digital efficiencies to deploy them faster, and aim to deliver fill rates near 100% with as little human intervention as possible. These platforms marry technology and processes found in talent platforms such as a two-sided digital labor marketplace, ratings systems, algorithmic recruiting, management and matching with traditional staffing firm pricing models.”
Examples of staffing platforms include Trusted Health and Aya Healthcare’s MyAya for healthcare roles and Job&Talent and TrueBlue Inc.’s (NYSE: TBI) JobStack for industrial roles.
The Temporary Staffing Platform Update: 2024 report is available to corporate members of SIA.