The 2018 list includes 94 companies intent on going the extra mile.
When looking at above-average growth in staffing — and what it takes for companies to achieve that — it comes down to people. It’s about prioritizing people, creating a great culture, building up leadership and hiring the right internal staff in the first place.
That leads to taking care of contingent workers, keeping internal workers engaged and making clients a high-level priority; it’s these factors and efforts that drive growth, say executives of this year’s fast-growing staffing firms in the United States.
“If you make the nurse working at the hospital your No. 1 priority, and you don’t waiver from that, then you’re going to succeed,” says Rich Smith, VP at Atlas MedStaff, the top-ranked fastest-growing staffing firm on SIA’s 2018 list.
And finding the right internal workers is crucial. “What we look for is potential — it tends not to be about exam grades, degrees or qualifications, it’s much more fundamental than that,” says Steven Talbot, co-founder and CEO of second-ranked GQR. “It’s really about character and having the same core character values as the business — essentially being ambitious and being committed to being the best at what you do.”
Staffing Industry Analysts examines growth in its annual list of Fastest-Growing US Staffing Firms. This year’s list has 94 companies — down slightly from last year’s list, which had 110 firms.
Together, companies on the list had a median compound average growth rate in revenue of 26.9% between 2013 and 2017. For the 10 fastest-growing, the median CAGR was 97.8%.
This year’s top 10 are:
- Atlas MedStaff
- GQR
- Peak Workforce Solutions LLC
- Stability Healthcare
- Dedicated Nursing Associates (DNA)
- Host Healthcare
- Morson Group
- GrapeTree Medical Staffing LLC
- KPG Healthcare
- OneStaff Medical
Seven of the firms in the top 10 provide healthcare staffing, and almost 42% of firms on the full list cited healthcare staffing as one of their primary segments served. It’s a high-growth segment, although growth cooled a bit as of late. Healthcare staffing revenue rose 7% in 2017, according to SIA research. That was down from 15% in 2016 and 20% in 2015.
IT ranked as the second-most common primary segment for staffing firms on the fastest-growing list.
Where are the firms located? Texas and California have nine each — the most of any state. Florida had eight and Georgia had seven.
Read the stories of the top 10 firms and see the rest of the list online.
Methodology
To qualify for the list of Fastest-Growing US Staffing Firms, a staffing provider had to post at least $1 million in revenue in 2013 and have compound annual revenue growth of at least 15% between 2013 and 2017.
The list is based on US staffing revenue, which includes temporary staffing revenue, direct hire, retained search and temp-to-perm conversion fees. Firms with franchised operations included revenue from franchisees. For the purposes of this list, staffing revenue did not include revenue from payrolling, PEO services, MSP fees or passthrough funds, RPO operations, HRO operations or online staffing services.
Some firms had revenue from outside the US, but only US staffing revenue was considered for the list. Examples of such companies include Morson Group and Specialist Staffing Solutions (US division of SThree plc). In addition, only organic growth was measured. And the growth calculation was adjusted for acquisitions and divestitures.
All numbers are self-reported. However, the top 10 fastest-growing firms had to provide financial statements or provide verification of the numbers on company letterhead when financial statements were not available.
This year’s Fastest-Growing US Staffing Firms may not be directly comparable with those from previous years because of changes in methodology.
