Dive Brief:
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The 2016 list of the Fastest-Growing US Staffing Firms, sponsored by Bullhorn Research, is available for Staffing Industry Analysts’ (SIA) Corporate and CWS Council Members, and a review of the agencies making the top of the list is set to be published in the September 2016 edition of Staffing Industry Review magazine. This is the largest list to date, with some 112 companies making the grade.
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To qualify, agencies must have at least $1 million in annual revenues and at least 15% compound annual growth rate (CAGR) between 2011 and 2015, but the average for the top ten companies was an astounding 72.6% CAGR.
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Who made the top of the list of the fastest growing staffing firms, according to the SIA list? Loyal Source, the Orlando, Florida healthcare and government staffing agency has topped the list for the second time this year with a CAGR of 126.6%
Dive Insight:
Barry Asin, president of SIA says that the report shows a consistent level of growth over a five year period and that many in the recruitment field are excited to see how these fast growing agencies influence the future of staffing.
The SIA report is impressive, because it not only shows that there is hope for the staffing community, but that there are limitless opportunities to gain market share in this niche of recruitment. The top ten fastest growing agencies are across several niche markets, which are also expanding – like healthcare, IT, government, and education. They are not the big-label agencies one would expect to see.
The report also highlights the states where growth in staffing has been the most active, such as Georgia, California, and Illinois. 30% of the growth comes from IT, followed by health care, so these states must be continuing to attract candidates from these industries.
