The last nine months have seen a global pandemic, the Black Lives Matter movement, the run-up to the 2020 presidential election and the California wildfires — just to mention a few of the major events. Hitting one’s numbers has not been a priority. In fact, it’s been about staying afloat.
So it gives me great pleasure to step back to a different time and congratulate the 75 firms on SIA’s 2020 Fastest-Growing US Staffing Firms list. The list does not reflect the impact of Covid-19, as it measures companies’ compound annual growth in revenue between 2015 and 2019; the virus didn’t take hold in the US until March of this year. Still, achieving a CAGR of at least 15% — which is required to qualify for the list — is no small feat. We list the 75 firms that achieved just that, and profile the top 10.
Despite the bleak economic picture that 2020 has become, several of the top 10 companies on this year’s list of Fastest-Growing US Staffing Firms are ready for growth after the pandemic. And they are clear about how they are going to achieve this. The stories of the top 10 firms that we profile show the reliance on tried and tested initiatives like training, putting people first, smoothing internal processes, maintaining a culture of growth and putting an emphasis on community.
Yes, we don’t know what trajectory things will take, but we do know that we can lean on proven strategies and come back.
In the meantime, data from SIA’s research shows us that that it’s clear that the pandemic has put the staffing environment into a frenzy. Research Analyst Curtis Starkey discusses how each company, each segment and each geography have been affected differently. Then, expert attorney George Reardon warns us about how unsecured creditors like staffing suppliers are among the last in line for payouts from the residual customer assets when bankruptcy hits. All this and much more in this issue.
As you navigate this complex time, remember we are here to help with tools and advice. Please don’t hesitate to ask us any questions. We look forward to hearing from you.
