Report : North America On-Demand Staffing Platform Market Forecast to 2028 - COVID-19 Impact and Analysis by Deployment (On Premises and Cloud-based) and Enterprise Size (Small and Medium Enterprises and Large Enterprises)
According to our latest market study on “North America On-Demand Staffing Platform Market Forecast to 2028 – COVID-19 Impact and Analysis – by Deployment and Enterprise Size,” the market is expected to grow from US$ 70.71 million in 2022 and is projected to reach US$ 159.33 million by 2028; it is estimated to grow at a CAGR of 14.5% from 2022 to 2028.
On-demand staffing platform is a mobile marketplace that enables recruiting agencies to hire temporary workers, freelance professionals, and contingent staff for short-term positions. It allows candidates to share their work portfolios with companies, create online profiles, and search options for appropriate job openings based on their qualifications. Moreover, as it delivers a similar or higher-quality workforce compared to conventional sourcing channels, staffing companies are increasingly adopting on-demand staffing platforms to fill specific roles for temporary assignments. Furthermore, with consumers’ changing demands and needs, there is a rapid technological advancement in terms of new employee hiring application in the staffing industry that optimizes filling open job orders by providing a seamless mobile experience for candidates. In May 2019, Indeed acquired Syft, a UK-based staffing platform. In April 2021, the company rebranded as Indeed FlexTo. It developed the platform with a simpler and faster process by implementing cutting-edge HR-matching technology and registering high-quality temporary staff.
There is an increasing demand for instant employee hiring, mainly to fulfill the need for temporary and contingent workers. Also, with the advancements in technology and increasingly agile workplaces, staffing companies are focusing on improving their talent-sourcing capabilities with the help of on-demand staffing platforms. Additionally, a surge in the need for talent acquisition and management and a rise in the focus on candidate experience and employee engagement are among the major factors fueling the North America on-demand staffing platform market growth. However, the lack of flexibility to adapt to changing demand of employees and misconceptions about on-demand employment hiring among companies are limiting the market growth. On the contrary, on-demand staffing platforms can transform temporary employee hiring by implementing technologies such as artificial intelligence (AI) and machine learning (ML), which is expected to create lucrative growth opportunities for the market in the coming years
Impact of COVID-19 Pandemic on North America On-Demand Staffing Platform Market
The e-commerce sector has been positively impacted due to remote and hybrid work arrangements after the emergence of the COVID-19 pandemic. With the rising adoption of working-from-home models, the staffing industry has witnessed tremendous growth. In addition, the temporary staffing model is widely preferred in the healthcare sector. For this sector, the staffing firms are focused on specific tasks such as bringing the offer letter process in-house under one person, using one person to manage sick pay for traveling nurses, and consolidating employee drug testing and background check processes with one vendor. Therefore, such time-consuming and traditional processes augmented the need for on-demand staffing platforms across several industry verticals. Many companies, especially those providing IT and IT-enabled services, are hiring additional temporary or flexible staff over permanent placements as a part of cost-cutting measures due to delayed projects owing to the COVID-19 pandemic. This is further boosting the North America on-demand staffing platform market growth.
A survey conducted by Global Workplace Analytics in the early months of the COVID-19 pandemic projected that 77% of office-based workers were working remotely full-time, compared to 9%, before the onset of the pandemic. Also, in September 2021, Gallup, an American analytics and advisory company, conducted a survey of full-time employees in the US and revealed that approximately 45% of workers worked from home. In addition, remote and hybrid work arrangements provide flexibility for employees and cost savings for companies, which is likely to offer growth opportunities to the North America on-demand staffing platform market.
The report segments the North America On-Demand Staffing Platform market as follows:
The North America on-demand staffing platform market analysis based on deployment is bifurcated into on premise and cloud-based. The cloud-based segment led the North America on-demand staffing platform market with a larger market share in 2021. Based on the enterprise size, the North America on-demand staffing platform market is segmented into small and medium enterprises and large enterprises. The large enterprises segment led the North America on-demand staffing platform market with the largest market share in 2021.
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