Checking credentials. Given consumer wariness about the way their data is used, some organizations are striving to redefine privacy to create an environment where consumers and brands thrive with intentionally consented relationships regarding data agency, data ethics, and data reciprocity. And with more governments imposing greater data protection regulation as exemplified by the European Union’s GDPR rules implemented in 2018, these can place quite onerous obligations on organizations to comply. Meanwhile, those who have to source and hire talent need ways to efficiently identify and credential candidates in order to quickly and safely fill open positions. Quite a few technology start-ups are developing credentialing solutions that use blockchain to facilitate credential verification and access, while having consumers store and own their verified credentials.
What’s your margin? The average gross margin in 2018 was 25.3%. One company saw significant gross margin expansion due to its highly specialized sector and an acquisition. Another expanded its gross margins by increasing professional staffing via acquisitions. This report lists gross margin for 16 publicly traded staffing companies that do business in the United States.
Refer a friend. Professional staffing firms offered substantially larger bonuses than commercial firms — a median of $500 versus less than $100. While commercial firms offered the least, such bonuses were more often cited as a high-return temporary staffing recruiting tactic. However, there was no consistent relationship between size of bonus and ROI among professional staffing firms.