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Key results:
- Respondents in this month’s Pulse Survey reported an average 2% year-over-year decline in their US temporary staff revenue in April, up slightly from a 3% decline in February. In add, personnel income fell 10% year-on-year, continuing the trend seen in February of larger companies posting more negative growth than smaller companies. This is also evident when looking at growth by size: In April, small company headcount revenue rose an average 2% y/y, midsize company revenue was flat, and large company revenue fell by 1%. 13%.
- Median revenue growth was again strong in locum tenens (+11%) and related healthcare (+5%). Finance/accounting (+1%) also reported year-over-year growth, while three workforce segments (IT, Legal, and Life Sciences) reported flat YoY revenue growth. At the opposite extreme, the mobile nurse staffing segment reported a 21% decline, and day nursing was down 6%. Direct hiring revenue increased 1% year-on-year.
- This month, we asked participants how they expected the introduction of AI to affect their companies’ staffing levels over the next three years. Figures overall and by segment, industry and size can be found in the full report. In total, 23% of respondents expect AI to reduce staffing levels at their company in the next three years, 62% expect AI to have a neutral impact on staffing levels, and 15% expect AI to AI increase staff levels.
- Average Selling Difficulty increased from 3.10 to 3.34 in April, while Average Recruiting Difficulty decreased from 3.21 to 3.07; Historically, sales have been greater than recruiting difficulty, but for the first time since the start of the COVID pandemic, April’s recruiting difficulty was greater than selling difficulty.
- The net increase in new orders of -32% is at its lowest value ever, apart from the start of the pandemic in 2020.
- The comprehensive 31-page report contains information on revenue trends, billing rates, orders, gross margins, recruiting/sales difficulty, and a 6-month outlook for each segment of people skills.
- The next Pulse Survey will be in July 2023. We will send out survey invitations in the first half of the month. You can also participate by visiting our SIA Research Surveys web page.
You can download the Selected Highlights report here:
Pulse May 2023 Selected Highlights: You do not have permission to view this object.
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