New York, Feb. 17, 2021 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Employment Services Global Market Report 2021: COVID 19 Impact and Recovery to 2030” – https://www.reportlinker.com/p06025316/?utm_source=GNW
72 billion in 2020 to $1193.68 billion in 2021 at a compound annual growth rate (CAGR) of 22%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $1677.81 billion in 2025 at a CAGR of 9%.
The employment services market consists of sales of employment services and related goods by entities (organizations, sole traders and partnerships) that list employment vacancies and refer or place applicants for employment; provide executive search, recruitment, and placement services; supply workers to clients’ businesses for limited periods of time to supplement the working force of the client; or provide human resources and human resource management services to client businesses and households. The employment services market is segmented into employment placement agencies; executive search services; temporary help services and professional employer organizations.
North America was the largest region in the global employment services market, accounting for 34% of the market in 2020. Asia Pacific was the second largest region accounting for 31% of the global employment services market. Middle East was the smallest region in the global employment services market.
Executive search services companies and recruitment agencies are increasingly relying on artificial intelligence to simplify recruitment process. Recruitment process involves screening of profiles from a large applicant pool which is time consuming. Artificial intelligence can automate this process for effective screening and assessment of candidates. Additionally, artificial intelligence powered chat bots are being used for initial communication with job applicants and scheduling interviews. For instance, the ARYA platform by Leoforce uses artificial intelligence to analyse profiles, resumes and information on the web to screen job applicants. Olivia, a chat bot communicates with candidates through mobile platforms or social channels to schedule interviews.
Read the full report: https://www.reportlinker.com/p06025316/?utm_source=GNW
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