2014 Economic Prospects and Trends for the Staffing Sector
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Transcript of 2014 Economic Prospects and Trends for the Staffing Sector
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Economic prospectsand trends for the
staffing sector in 2014
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Economicprospects and
trends for thestaffing sector
in 2014A guide for staffing agencies on the factors shaping the
opportunities for growth and business development in 2014
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Staffing sector ahead of the recovery curve
2012: IMF
suggests no
recovery to 2007levels of
economic growth
until 2018
Staffing industry
well ahead of
the curve and
an early
beneficiary of
recovery
Future for staffing
looks bright wellbefore 2018; how
bright is 2014 going
to be?
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Where are we now?
Slowing growth in the globaleconomy
Growth decelerating inemerging markets
Only moderate recovery in
mature economies
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Confidence Seems to be Returning
The Eurozone crisis
has receded along
with fears of an EU
meltdown
The FTSE 100 is flying in the
mid to high 6,000s
Dow Jones at record highs and
204,000 US jobs created inOctober 2013
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Geographical Trends
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Geographical Trends - UK
Agencyrates are
increasing
There is a risein permanent
hiring
Permanentstaff salariesare inflating
Shortage ofTemporary and
Contract Staff
Faster PrivateSector Growthin Permanent
Sectors
Stronger PublicSector Demand
for Temp/Contract
ContinuingControversyover Zero
HoursContracts
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UK Analysis
UK Confidence Rising Strongly
2.4% GDP Growth Expected
to be 0.9% Above Germany
Optimistic CIPD Labour Market
Increased Prospects for
Private Investment
Question Mark over Zero HoursContract Despite Enabling
Workforce Flexibility
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Geographical Trends EU
Migration: The free movement
of labour will continue
North v South divide in EU
employment rates
Eastern Europe projected to
grow output by 1.2%
Improving confidence and
private investment
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EU Analysis
Reduced anxiety about
disintegration of Eurozone and
social unrest across the EU
Italy and Spain expected to
return to growth
Increase in confidence likely
to attract private investment
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Australiastaffing
demand
driven bymining and
construction
Geographical Trends - Asia Pacific, the Americas & Africa
Africaprojected to
create 54
million jobsin the next
10 yearsLatin
Americagrowing at
a steadyrate
Growthin AsiaPacific
slowing
NorthAmerican
economies
will grow in2014
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Geographical Trends - Asia Pacific, the Americas & Africa
Africa thebiggest
opportunity
forinternational
businessRespectablegrowth in Latin
America of2.5% to 2.9%
appears to be
healthy
Asia Pacificcooling but
China stilloutstanding at7.5% for 2014
North Americanpivotal to
global recovery
and USexpected to
grow at 2.7%
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Industry Trends - Technology
The Back Office is Converging
with the Front
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Industry Trends - Technology
Need to maximise
profitability from rising
labour demand and
increased hiring
Technology is
the great
enabler of
efficiency
Automating and
integrating front andback office a major
opportunity
Requirement to
invest, especially
if deferred during
recession
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Industry Trends - Compliance & Regulation
"Need to satisfy demands for
governance and Corporate
and Social Responsibility."
www.123rf.com/photo_23197036
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Increasingawareness of
migrantworker pay
and
conditions
Differencesbetween
developedand
developing
nations, but
gap to narrow
Technology
has important
role to play in
removing
manual
overhead
Industry Trends - Compliance & Regulation
Reduces risk of
compliance
failure
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Summary
A global return to economic growth at
2007 levels may be four years away
Gradual and steady improvement
Encouraging signals for the global
staffing industry in 2014
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References
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