At 12.1% CAGR, North America Staffing and Recruitment Market is Projected to be Worth US$ 6,98,629.76 Million by 2031, says Business Market Insights

According to Business Market Insights’ research, the North America staffing and recruitment market was valued at US$ 2,79,685.90 million in 2023 and is expected to reach US$ 6,98,629.76 million by 2031, registering a CAGR of 12.1% from 2023 to 2031. Automation and AI-driven recruitment and rise in youth population are among the critical factors attributed to drive the North America staffing and recruitment market growth.

Recruitment technology is taking over the hiring process. Artificial intelligence (AI) and automation in the recruitment process provide benefits such as efficiency, personalization, and data-informed decision-making. Integrating AI and automation into the recruitment process helps companies shortlist ideal candidates, automate manual tasks, streamline the recruitment workflow, and others. There are many ways to leverage AI and automation technology for talent attraction and candidate experience throughout the recruiting process. AI technology allows personalizing outreach while tracking candidates’ behavior on the website and sends them customized content and messages based on their interests. Moreover, AI helps find the best-fit candidate by matching an applicant’s experience and skills with the job description. The recruitment chatbox is another AI technology that offers job seekers real-time updates and interaction 24/7 by allowing them to ask questions about job requirements or recruitment timelines while providing helpful feedback and suggestions. Further, AI-based video interview software helps assess a candidate’s word choices, speech patterns, and facial expressions to check if the candidate is the right fit for the position. For instance, Brother International Corporation adopted an AI-powered Intelligent Talent Experience platform to attract, engage, and convert more job explorers with industry-leading AI technology. The platform integrates with the company’s Workday Recruiting ATS to provide candidates with a smooth end user experience. In addition, the platform also helps the company to manage content and easily make edits to their career site without any IT technicians or an outside agency for coding. AI and automation have brought about significant changes in the recruitment process and have revolutionized the entire process. Thus, automation and AI-driven recruitment will further contribute to the market's growth in the coming years.

On the contrary, the lack of qualified job seekers hampers the growth of North America staffing and recruitment market.

Based on staffing type, the North America staffing and recruitment market is bifurcated into temporary and permanent. The temporary segment held 65.8% market share in 2023, amassing US$ 1,84,088.52 million. It is projected to garner US$ 4,83,331.26 million by 2031 to register 12.8% CAGR during 2023–2031.

In terms of recruitment channel, the North America staffing and recruitment market is categorized into online, hybrid, and offline. The online segment held 58.3% share of North America staffing and recruitment market in 2023, amassing US$ 1,63,050.00 million. It is anticipated to garner US$ 4,33,660.98 million by 2031 to expand at 13.0% CAGR during 2023–2031.

By end user, the North America staffing and recruitment market is segmented into IT & telecom, BFSI, healthcare, retail & e-commerce, and others. The IT & telecom segment held 32.7% share of North America staffing and recruitment market in 2023, amassing US$ 91,452.74 million. It is projected to garner US$ 2,54,028.53 million by 2031 to expand at 13.6% CAGR from 2023 to 2031. Furthermore, the healthcare segment is sub segmented into hospitals & clinics, pharmaceutical, and others.

Based on country, the North America staffing and recruitment market is categorized into the US, Canada, and Mexico. Our regional analysis states that the US captured 86.5% share of North America staffing and recruitment market in 2023. It was assessed at US$ 2,41,999.90 million in 2023 and is likely to hit US$ 6,15,197.00 million by 2031, registering a CAGR of 12.4% during 2023–2031.

Key players operating in the North America staffing and recruitment market are Adecco Group AG, Alliance Recruitment Agency, Brunel International NV, Hays Plc, Korn Ferry, Morgan Philips Group SA, NES Fircroft, and Randstad NV, among others.

• In April 2023, The American Association for Physician Leadership (AAPL) has formed a partnership with Korn Ferry, an organizational consulting firm. This partnership will leverage the experience of both organizations in leadership development and training to provide professional development, leadership education, and management training for physicians and healthcare leaders. The aim of this collaboration is to enhance patient outcomes, workforce wellness, and healthcare delivery.
• In June 2022, NES Fircroft (NES), a company that offers recruitment solutions for engineering and technical talent, has announced the expansion of its specialist recruitment business to Boston, USA. NES has been operating in the USA for over 25 years and already supports various energy projects across the region, including offshore wind, onshore wind, and solar. The company aims to provide local support to its clients and contractors and believes that proximity and reliability are crucial in building long-term relationships. The establishment of a local physical presence in Boston is expected to further strengthen NES's operations in the region. The move reflects the company's continued growth across the power and renewable energy sectors.

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