Covid-19 turned the world upside down. Things were going well, and suddenly they weren’t.
Coming into 2020, US staffing industry revenue was projected to rise by 3% to reach $156.2 billion in 2020. With the pandemic, the industry faces a decline this year of 17%, according to one scenario studied by SIA. That scenario assumes the virus does not return significantly in the winter or bring additional surges — and that governments can control any such surges.
Despite that grim picture, the industry will bounce back stronger than ever post-pandemic, according to several of the top 10 companies on this year’s list of Fastest-Growing Staffing Firms in the US, which comprises 75 companies.
“My expectation is that when the recovery comes, it will be pretty huge,” says Jamie Woods, CEO of JCW Search, the fastest-growing firm on the list.
Some in the top 10 also reported their niches have been less affected by the response to the virus.
And while the staffing industry does, indeed, appear ready for growth after Covid-19, we don’t yet know the trajectory the recovery will take.
[Editor’s note: This year’s Fastest-Growing US Staffing Firms list does not reflect the impact of Covid-19, as it measures compound annual growth in revenue from 2015 through 2019; the virus didn’t take hold in the US until March of this year.]
While we don’t know the path the recovery will take, the actions that have enabled the growth of the fastest-growing firms — taking care of internal workers, training, fine-tuning processes and more — will remain important.
The firms on this year’s list had a median compound annual growth rate for revenue of 27.4% from 2015 through 2019. The top 10 posted a median CAGR of 56.3%.
The top 10 fastest-growing firms this year:
1. JCW Search
2. Ro Health
3. Curate Partners
4. Conexus MedStaff
5. PGS Worldwide
6. Health Carousel
7. Hayes Locums
8. GQR Global Markets
9. Phaidon International (US)
10. Next Level Business Services
Find the profiles of the top 10 and the rest of the list online.
