Benchmarks

Benchmarks: IT dominates $178 billion VMS spend

|February 2nd, 2022|

Enterprise organizations spent $178 billion through vendor management systems in 2020, according to research by SIA. While industrial occupations dominate in terms of volume of workers, IT and other professional fields comprise the bulk in terms of spend.
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Benchmarks: World spends $4.4 trillion on contingent work

|January 12th, 2022|

Businesses spent $4.4 trillion on contingent labor globally in 2020, roughly 61% of which was on independent contractor services and 9% on workers through staffing firms.
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Benchmarks: Publicly traded firms’ gross margins on the rise

|December 15th, 2021|

The gross margin of majority of the 16 publicly traded staffing firms tracked by SIA appears relatively strong in the third quarter. Gross margin can be a barometer of a firm’s financial health and help predict future bill rates.
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Benchmarks: Quits, ghosting, conversions and more

|November 17th, 2021|

At what rates do temps decline an offer? Accept an offer but don’t show up? An SIA report highlights key candidate flow benchmarks.
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Benchmarks: Professional skills dominate MSP market

|October 27th, 2021|

The MSP market largely comprises professional occupations, as does the MSP statement of work market, in terms of share of spend.
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Benchmarks: RPO pricing models

|September 1st, 2021|

Recruitment process outsourcing providers employ a variety of pricing models for their services, according to the “RPO Global Landscape Summary 2021” report from SIA. The most common was a combination of cost per hire and fixed monthly fee.
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Benchmarks: Buyers to increase direct-sourcing spend

|June 30th, 2021|

A median 20% of buyers’ contingent workforce spend will be going through direct-sourcing channels in 10 years, according to SIA research, up from a median 1% today.
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Benchmarks: Temp workers have little interest in talent platforms

|May 12th, 2021|

The use of freelance platforms by staffing firms’ temps dropped in 2020, with the majority of survey respondents not knowing about or not using business-related platforms.
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Benchmarks: SOW spend through VMS

|February 10th, 2021|

Despite being a focus area for vendor management system providers as well as CW programs, SOW represents just 16% of reported 2019 VMS spend under management, suggesting that it remains a largely unpenetrated market for VMS.
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Benchmarks: Professional skills dominate RPO services

|January 20th, 2021|

Recruitment process outsourcing is used most heavily for professional roles; however, providers meet needs ranging from apprenticeships to executive search.
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