The Staffing Industry Is Working To Help America In The Post-Covid World
The past two years have seen the greatest shakeup of the American workforce of our time, with millions of people leaving their jobs. But now, in 2022, the economy is full-speed ahead and Americans are getting back to work. Without question, the staffing industry is playing a vital role in keeping the job markets running, while helping businesses find qualified and skilled workers across virtually all industries. In 2021, staffing companies hired an amazing 14.1 million employees, marking an incredible rebound from the pandemic year of 2020.
“As the U.S. economy continues adding back jobs after the pandemic recession, the staffing industry is playing a key role in getting people back to work,” said Richard Wahlquist, ASA president and chief executive officer. “However, with more than 11 million current job openings, to compete in the war for qualified talent, employers need to finely tune their recruiting and retention strategies, embracing flexibility in work schedules and providing more professional development and upskilling opportunities for their employees.”
Indeed, the great upheaval brought on by the pandemic caused record numbers of Americans to prioritize their careers and work-life balance. That juggernaut was partly responsible for more than 47 million people quitting their jobs in 2021 alone, in what’s now known as “The Great Resignation.” But, as many industry experts note, a more appropriate term may be “The Great ReShuffle” as Americans seek better employment opportunities. And there’s no question – staffing agencies are rising to the task of not only helping businesses find qualified candidates, but also finding rewarding and meaningful careers for job seekers.
Job Markets Are Growing
It’s true, there’s a lot of uncertainty and conflicting reports seemingly every day about the economy, but facts are facts: U.S. employers hired far more workers than expected in June 2022, a sign the labor market continues to strengthen and power ahead. Indeed, according to a report in Reuters, the economy created 2.74 million jobs in the first half. As demand for workers rises across all industries, financial experts agree the job market will continue to grow. Yet there remain areas of improvement, with nearly two job openings for every unemployed person. And that’s where staffing agencies can rise to the task.
The labor force is expected to grow over the next 10 years at an average annual rate of 0.5 percent, which means by 2024, the number of people working or looking for work should hit about 163.8 million, according to the U.S. Bureau of Labor Statistics. Indeed, as the population increases, and baby boomers exit the workforce, more people than ever could be looking for work. All these projections are a sign to the staffing industry that its services will be in incredibly high demand. The staffing industry, already valued at a record $157.4 billion in 2021, is on pace to reach $200 billion in the coming years.
An Essential Pros Franchise Is An Opportunity Like No Other
Within the staffing industry, there really is no comparison to the services and opportunities at Essential Pros. Whereas other staffing agencies are looking to get people quickly in and out the door, Essential Pros strives to connect quality people with quality work. How? Well, two ways. For the businesses we service, by taking the time to understand their needs and finding the most qualified candidate that aligns with those needs. And for job seekers, making sure we understand their goals and find an employment opportunity that’s a perfect fit.
Unlike other staffing agencies, Essential Pros conducts in-person interviews with all of our workers, evaluating not just their professional experience but also character. One way we get the job done right is by targeting small to mid-size markets to better serve the clients in our communities. With less competition in these markets, our offices can generate higher sales and focus on underserved clients that have staffing needs.
“Essential Pros does everything other agencies say that they do, but they don’t,” CEO Travis Powell says. “We check references – meaning, we actually call their references. We drug test. And we share this information with our clients, which gives them the peace of mind that we’ve actually done what we’ve said we were going to do. This is the reason that after 14 years in business, Essential Pros hasn’t lost a single client – and that’s saying something, considering we’ve expanded to five locations in new markets in that period of time. That’s our Essential Difference.”
What Is The Profit of a Staffing Company?
With demand never higher for our services, Essential Pros franchise locations are raking in record profits. Our offices average more than $3 million in gross sales, with our highest performing office reporting more than $5 million in sales, according to our most recent Franchise Disclosure Document. With a streamlined business plan and back-end support that makes operations as easy as possible, our franchisees can focus on serving the clients and driving profits.
“One thing people don’t know about the staffing industry is that it’s a high sales business,” Powell says. “Our average office produces over $3 million in annual sales. It’s also a very affordable business to own, and one that can grow very quickly. It’s a great time to join Essential Pros today, because we’ve developed a business model over the past 14 years that has proven to work. We’ve been enormously successful and have grown consistently year-over-year. Now we want to share our proven business model with entrepreneurs who want to join a dynamic industry and own a business that truly makes an impact in their communities.”
Ready To Start Your Journey With An Essential Pros Franchise?
You don’t need us to tell you employers are looking for workers more than ever before. Just look at all the businesses with “Now Hiring” signs posted outside their doors. Truly, the U.S. has never seen so many job seekers at one time, which makes the demand in job markets for services from staffing agencies not only hit record rates, but also become of the utmost importance to keep our economy running.
If you want to invest in one of the most lucrative industries at one of the most exciting times in history, you can start by visiting our research pages here. If you’re ready to start a conversation about investing in the Essential Pros franchise opportunity, fill out our form here. We can’t wait to hear from you!