Staffing Agencies in India and their origin.
Staffing agencies in India have been putting employees to work for several years. Professional life gives people the fulfilment to take care of themselves and their households, while also attaining knowledge and unique dexterities. A Staff recruitment agency aids people to find work hence it is a robust task that supplements the community for both customers and workers. It's even better when the job seeker gets a job without any cost. But when did these staffing services start? Where did this concept come from? The contracting staffing agencies near me have their blueprints of the staffing industry as we know it today were first created during World War II.
The industry involving staffing agencies in India has grown to a striking tier, largely in the vicinity of third-party payroll service providers. Staffing services in India have shown much conditioning and active participation in the elaboration of trade and exchange. Provisional staffing services have shown unprecedented expansion over the last few years. In simple words, the staffing industry is all set to make a massive gigantic leap in the future years. Over the past five years, the industry has grown at a rate of 20-25% per year, and it is not showing any signs of putting the brakes on down as yet. The staffing industry in India effectively provides a scaffold for notable employment, work selection, practical compensation, annual advantages, and health concessions for the interim temporary workforce.
How staffing agencies in India thrived larger despite the pandemic
Despite the worrisome wreck of COVID-19 on industries worldwide, India's classified staffing services industry has persisted to prosper more than ever before. The fact that India's staffing industry not only ended the FY 2021 with a humble 3.6% growth over Mar?20 but also that it ceased with more than 1.03 million industries (Report: Flexi Staffing Employment Research Report ?Annual Flexi Staffing Employment Trends: 2021) further regurgitates its stability and maturity. The pandemic has made India's labour force realise that the future of the industry is systematised and that social security protection will have enormous advantages and this will be the only way to prosper and gain a victory in workforce warfare.
Some Interesting Statistics with regards to Contract Staffing agencies near me
According to the Indian Staffing Federation, the apex body of the staffing industry, currently states that the sector comprises 15 long firms that account for Rs 270 billion in revenues and is expected to mature at 12 percent this year and 10 percent in the next year. A third-party payroll service provider is unhurriedly gaining importance over the year among other corporate peers.
Future Trends that will affect the staffing agencies in India
Filling the gap between skills and talent in India
It has been found that over 39% of the employers in India find it challenging to hire quality talent in the country. While we are still a fast-paced developing nation 90% of the jobs are skill-based, and only 2% of the population possesses the required skill. This imposes a stringent obstacle on the industry dynamics, and so the firms are seeking to hire Third-party payroll service providers in a hefty way.
Advancement of the Gig Economy
While the Gig economy is in its infancy, it is envisioned to evolve soon. A recent study by McKinsey estimates that up to 20% ? 30% of the workforce in developed markets is involved in independent work. This will indisputably affect the talent techniques of the organisations as a whole. Interim staffing will gain prestige in the coming days staffing recruitment agencies will witness a noteworthy change.
Given the drift in the demand for contingent staffing, several digital platforms such as Upwork, Shiftgig, and Talent have come to the scene, and these staffing recruitment agencies cater to the talent necessities of the corporations and the career needs of the individuals in an absolute cost-effective way. These digitally equipped staffing recruitment agencies are arriving in the Indian markets, and that will certainly announce a challenge to revolutionary existing staff recruitment agencies in India.
IT staffing will benefit maximum in this domain. It will become an influential enabler for staffing in this Industry. As per recent reports, AI can automate up to 75 percent of the recruitment process. Staffing recruitment agencies will have to infuse automation solutions for basic protocols like time, attendance, and expense management to enhance efficiency and accuracy for compliance and authorizations.
Staffing agencies in India's sector are augmenting beyond the traditional mastery, positions, and domains and now evolving to stand in the spotlight across industries. Even in a Pandemic year with only 3.6% enlargement, the growth is evidently seen in IT staffing, eCommerce logistics, and manufacturing industries. While Covid 2.0 might echo a transition in growth in Q1FY22 against Q4FY21, it appears the velocity towards the staffing services industry is optimistic and is here to stay.
The legal staffing services industry is presently being appointed with the role of a facilitator that can grapple with the skill-employment gap and emerging problems within our country's workforce. In the coming days, additional simplification of the labour laws, policies, and better regulations will certainly paddle new islands for both the staffing agencies in India and the country's economic and employment growth.
Thus, we see that the staffing agencies in India and the industry has been going through a distinctive metamorphosis, and mainly IT Staffing and Temporary staffing are suspended to make outlying strides in the junctures to arrive creating the overall staffing services industrial business, a very lucrative one in the Indian subcontinent.
Weavings is an organised staffing recruitment agency following the upward trajectory of upswing by following all government legal norms and delivering promising result-driven services to our clients. We intend to continue doing our best toward the growth and sustainability of our clients and the country as a whole.