U.S. staffing companies employed an average of almost 2.2 million temporary and contract workers per week in the second quarter of 2024, according to data released today by the American Staffing Association—down 44,000 jobs from the first quarter of 2024. Staffing sales reached a total of $31.0 billion in the second quarter of 2024, marking a 1.6% decline from the first quarter and a 13.8% decline from the previous year. As seen in 2023, this contraction bucks the seasonal trend of consistent sequential growth within the staffing industry from the second to fourth quarters of the year. Private staffing companies remain cautious about the future, expecting their fourth quarter revenue to be essentially flat (a median -0.4%) year-to-year, and their full year 2024 sales to be down a median 3.2% compared with 2023.
Ortoli | Rosenstadt: What Exactly Is a Seller Responsible for When Selling Its Staffing Firm?
Buyers of a business generally expect sellers to be responsible for certain liabilities relating to when the seller owned its business—a concept mergers and acquisitions professionals refer to as indemnification. Indemnification is one of the most heavily negotiated, and potentially most significant, provisions of a purchase agreement, and understanding the terminology common to such agreements is essential when negotiating a deal. Attorney Paul Pincus of Ortoli Rosenstadt LLP explains what sellers are liable for, how a seller’s liability may be limited, and how buyers may seek to fund potential indemnity claims.
Staffing World Delivers Focused Learning to Maximize Your Business Success
Don’t miss Staffing World® 2024, the ASA annual convention and expo—your opportunity to make strategic connections, learn about new developments, and get solutions to win business and spur growth.
Can’t decide if it’s right for you? Staffing World is for everyone; whether you’re new to the industry or a 20-year veteran, you will gain valuable information, cutting-edge solutions, and cherished connections. Check out these four overarching focus areas that help frame the more than 40 sessions available to your and your team at Staffing World, Oct. 22–24 at the Gaylord Opryland Resort and Convention Center in Nashville, TN. Learn more and register today at staffingworld.net.
Free ASA Webinar Today—Understanding New Overtime Rules
Don’t miss the ASA webinar “Navigating New Overtime Rules: Key Changes and Legal Challenges for Staffing Employers.” It takes place today from 2 to 3 p.m. Eastern time. A new regulation published by the U.S. Department of Labor significantly increases the level of compensation needed to make a worker exempt from federal overtime provisions. Lawsuits were filed to challenge the new rule—one injunction has been issued so far, and future litigation is likely. Attorney Peter Spanos of Taylor English will provide an overview of how the rule relates to staffing businesses and discuss the potential effects of future litigation. Sponsored by Taylor English.
All ASA webinars are free for ASA members, and most qualify for continuing education hours toward ASA certification renewal. To learn more and to register, visit americanstaffing.net.
Learn How to Win at Sales Without Being Sales-y
Stumped when it comes to selling? At Staffing World®, the ASA annual convention and expo, this fall you can join highly rated return presenter and sales coach Natasha Hemmingway for her session “Closing Is a Non-Event: Here’s Why” to learn about the four components of her tried-and-true sales process—and the importance of having an authentic and customized process in your business. Walk away with practical, how-to steps for you and your team that will transform your sales mindset and boost your sales results immediately.
Staffing World—the industry’s largest and most powerful growth-focused learning and networking event—brings together all functions, experience levels, and segments of the staffing and recruiting industry for unprecedented learning, networking, and collective advancement. Join the industry’s brightest and most dedicated professionals Oct. 22–24 in Nashville, TN. Learn more about the more than 40 breakout sessions, Tech Talks, roundtable discussions, and other educational programs planned for this year’s event at staffingworld.net.
Get the Latest Salary Benchmarks—Compensation and Benefits Survey Closes in One Week
The ASA Compensation & Benefits Benchmarking Survey is currently open, and the deadline has been extended to next Friday, Aug. 2. Survey participants get exclusive salary benchmarks tailored specifically for the staffing and recruiting industry, plus 12 months of continuous access to the dynamic reporting platform.
Register to participate in the survey for access to the Dynamic Benchmarking platform, which provides benchmarking data for 27 staffing and recruiting industry positions—including executive compensation. For more information and to register, go to americanstaffing.net/compensation.
Just One Week Left to Save 20% on ASA Certification Products
If you’ve been waiting for the right time to earn your Certified Staffing Professional® credential from ASA or to start one of the new ASA Pro Stacks credentialing programs, the right time is right now. The ASA certification sale continues through July 31—meaning you’ll save 20% on exam packages, a la carte study materials, ASA Pro Stacks, and other professional development products. (The discount does not apply to certification renewals.)
Why should you earn an ASA credential? Visit americanstaffing.net to learn the answer—then place your order in the ASA store. The discounted prices will be reflected in your cart; there’s no discount code needed.
Embrace Productive Aging to Maximize Talent—Read Staffing Success
The growing proportion of older age groups in the workforce can be either a challenge or an opportunity for sourcing talent. In the latest issue of Staffing Success magazine, learn how supporting productive aging strategies in your workplace can help your firm take advantage of the unique skillsets older workers bring to the table.
Access the current issue and back issues of Staffing Success, and other ASA digital publications, at americanstaffing.net/digital.
Staffing World Session and Speaker Details Are Live—Register to Save Your Spot
Get ready for the ASA annual convention and expo, Staffing World® 2024, in Nashville, TN, Oct. 22–24—it’s the industry’s largest growth-focused learning and networking event.
Get information about the inspiring keynote presentations and informative educational sessions, presented by some of the most knowledgeable professionals in the industry, planned for this year’s event at the Gaylord Opryland Resort and Convention Center, then register at staffingworld.net to secure your seat and join this thriving community of the industry’s best, brightest, and most dedicated thought leaders.
ASA Staffing Index: Staffing Employment Holds Steady and Poised for Growth
Staffing employment edged down during the week of May 13–19, with the ASA Staffing Index declining by just 0.3% to hold at a rounded value of 89. Staffing jobs were down 10.9% compared with the same week last year, with no one factor cited to have hindered further growth.
Despite a contraction in staffing employment, new starts in the 20th week of the year increased by 6.1% from the prior week, and almost half of staffing companies (48%) reported gains in new assignments week to week—above the average of 44% per week so far this year.
The ASA Staffing Index four-week moving average inched down from the prior week to hold at a rounded value of 89, and temporary and contract staffing employment for the four weeks ending May 19 was 10.4% lower than the same period in 2023.
“A sustained pattern of negligible fluctuation in the Staffing Index suggests that the industry has settled into a steady rhythm of growth, unlikely to see substantial disruption without a material change in external macroeconomic conditions. This makes a case for optimism about the future of staffing employment once interest rates are reduced, business conditions improve, and the labor market sees greater churn,” said Noah Yosif, chief economist at ASA.
This week will be used in the May monthly employment situation report scheduled to be issued by the U.S. Bureau of Labor Statistics June 7.
ASA Scholarship Available for Women Leaders—Deadline Friday
The ASA Women in Leadership Scholarship Program aims to raise the visibility of women in the staffing industry as well as provide scholarships that cover registration fees for Staffing World®, the ASA annual convention and expo (Oct. 22–24 in Nashville, TN), as well as THRIVE Live (Oct. 21–22 in Nashville).
ASA will award scholarships to rising stars who are committed to a career in staffing and have shown career growth potential. Find out more and submit your application at americanstaffing.net. Applications are due this Friday, May 31.
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