South & Central America Staffing and Recruitment Market Forecast to 2030
South & Central America Staffing and Recruitment Market Forecast to 2030 – Regional Analysis – by Staffing Type (Permanent and Temporary), Recruitment Channel (Online, Hybrid, and Offline), and End User (IT and Telecom, BFSI, Healthcare, Retail and E-Commerce, and Others)
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Description
Growing Adoption of Remote Working and Hybrid Business Model Fuels South & Central America Staffing and Recruitment Market
The COVID-19 pandemic shifted consumer preference towards the adoption of remote or hybrid work models. Millions of workers across the globe have already started working from home. Businesses have seen opportunities and resounding success while working from home. Today, many companies worldwide have fully adopted work from home model. According to the Pew Research Center, only 6% of employees primarily worked remotely, and it is expected to increase by 25% by the end of 2023. In 2022, 60% of workers want to work from home, which encourage businessman to adopt a remote or hybrid business model for offering work-life balance to their employees. Remote work allows employees to access a broader and more diverse talent pool beyond geographical boundaries. Remote or hybrid work models benefited both employers and candidates. Staffing and recruitment solutions help employers to connect candidates across the globe.
The adoption of remote and hybrid working model mandate businesses to create or adopt staffing and recruitment protocols for designing job offers, recruiting appropriate candidate, and hiring & onboarding new candidates regardless of where they live. Furthermore, remote and hybrid working helps businesses to reduce overhead costs associated with traditional office space. Efficient staffing and recruitment solutions help employers to minimize the cost incurred in their numerous hiring processes such as advertising, administrative, and traveling expenses. Staffing agencies offer companies with temporary, contract, and freelance workers as per their needs. This flexibility is particularly valuable in a remote work environment where entrepreneurs commonly use project-based or seasonal work. At this time, enterprises require workers to fulfill consumer needs, which increases the demand for staffing and recruitment solutions. These solutions support entrepreneurs in hiring remote or contractual-based workers. Staffing and recruitment agencies help entrepreneurs by connecting with the right candidate, reducing costs, and ensuring compliance while offering flexibility in remote working, thereby enhancing the adoption of staffing & recruitment solutions to streamline the hiring process.
South & Central America Staffing and Recruitment Market Overview
The South America staffing, and recruitment market is segmented into Brazil, Argentina, and the Rest of SAM. A mixed growth scenario characterizes the region, with many countries experiencing complex political and macroeconomic environments. Several countries in the region lack the infrastructure and resources required for utilizing technologically advanced automated solutions in various industries. Favorable measures by governments are facilitating developments in various industries at a sustainable pace. Hence, the expansion of industries, especially manufacturing, food & beverages, consumer goods, and pharmaceutical industries, in South America is increasing the adoption of staffing and recruitment among employers.
In addition, many countries in SAM are attracting huge FDIs, especially in the manufacturing sector, owing to cheap labor availability and low entry barriers and interest rates. The United Nations Conference on Trade and Development (UNCTAD) published a report on July 5, 2023, which states that foreign direct investment in South America grew by over 73% from 2021 to 2022. The region received FDI of US$ 93 billion in 2021 and US$ 160 billion in 2022. This helps the manufacturing unit to develop and expand its business by increasing its consumer base. The expansion of manufacturing facilities increases the demand for staffing and recruitment solutions and their adoption among employers, which is projected to fuel the market in the coming years. Also, in 2022, Brazil observed an increase of 70% in FDI, which amounted to US$ 86 billion in the manufacturing sector. Thus, increased investment in the manufacturing sector is creating job opportunities in the region and is expected to boost the demand for staffing and recruitment solutions, further fueling the market growth.
South & Central America Staffing and Recruitment Market Revenue and Forecast to 2030 (US$ Million)
South & Central America Staffing and Recruitment Market Segmentation
The South & Central America staffing and recruitment market is segmented into staffing type, recruitment channel, end user, and country.
Based on staffing type, the South & Central America staffing and recruitment market is bifurcated into permanent and temporary. The permanent segment held a larger share of the South & Central America staffing and recruitment market in 2022.
In terms of recruitment channel, the South & Central America staffing and recruitment market is categorized into online, hybrid, and offline. The online segment held the largest share of the South & Central America staffing and recruitment market in 2022.
By end user, the South & Central America staffing and recruitment market is segmented into IT and telecom, BFSI, healthcare, retail and E-Commerce, and others. The IT and telecom segment held the largest share of the South & Central America staffing and recruitment market in 2022.
Based on country, the South & Central America staffing and recruitment market is segmented into Brazil, Argentina, and the Rest of South & Central America. Brazil dominated South & Central America staffing and recruitment market in 2022.
Adecco Group AG, Brunel International NV, Hays Plc, Korn Ferry, NES Fircroft, and Randstad NV are some of the leading companies operating in the South & Central America staffing and recruitment market.
Summary Info
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According to the Research Team research, the South & Central America staffing and recruitment market was valued at US$ 21,482.57 million in 2022 and is expected to reach US$ 46,798.92 million by 2030, registering a CAGR of 10.2% from 2022 to 2030. Automation and AI-driven recruitment and rise in youth population are among the critical factor attributed to the South & Central America staffing and recruitment market expansion.
Recruitment technology is taking over the hiring process. Artificial intelligence (AI) and automation in the recruitment process provide benefits such as efficiency, personalization, and data-informed decision-making. Integrating AI and automation into the recruitment process helps companies shortlist ideal candidates, automate manual tasks, streamline the recruitment workflow, and others. There are many ways to leverage AI and automation technology for talent attraction and candidate experience throughout the recruiting process. AI technology allows personalizing outreach while tracking candidates’ behavior on the website and sends them customized content and messages based on their interests. Moreover, AI helps find the best-fit candidate by matching an applicant’s experience and skills with the job description. The recruitment chatbox is another AI technology that offers job seekers real-time updates and interaction 24/7 by allowing them to ask questions about job requirements or recruitment timelines while providing helpful feedback and suggestions. Further, AI-based video interview software helps assess a candidate’s word choices, speech patterns, and also facial expressions to check if the candidate is the right fit for the position. AI and automation have brought about significant changes in the recruitment process and have revolutionized the entire process. Thus, automation and AI-driven recruitment will further contribute to the market’s growth in the coming years.
On the contrary, lack of qualified job seekers hampers the growth of South & Central America staffing and recruitment market.
Based on staffing type, the South & Central America staffing and recruitment market is bifurcated into permanent and temporary. The temporary segment held 71.5% share of South & Central America staffing and recruitment market in 2022, amassing US$ 15,351.51 million. It is projected to garner US$ 34,666.33 million by 2030 to expand at 10.7% CAGR during 2022-2030.
In terms of recruitment channel, the South & Central America staffing and recruitment market is segmented into online, hybrid, and offline. The online segment held 58.8% share of South & Central America staffing and recruitment market in 2022, amassing US$ 12,631.81 million. It is projected to garner US$ 29,305.17 million by 2030 to expand at 11.1% CAGR during 2022-2030.
Based on end user, the South & Central America staffing and recruitment market is segmented into IT and telecom, BFSI, healthcare, retail and E-Commerce, and others. The others segment held 41.5% share of South & Central America staffing and recruitment market in 2022, amassing US$ 8,908.37 million. It is projected to garner US$ 20,593.85 million by 2030 to expand at 11.0% CAGR during 2022-2030.
Based on country, the South & Central America staffing and recruitment market has been categorized into Brazil, Argentina, and the Rest of South & Central America. Our regional analysis states that Brazil captured 60.4% share of South & Central America staffing and recruitment market in 2022. It was assessed at US$ 12,976.58 million in 2022 and is likely to hit US$ 29,867.11 million by 2030, exhibiting a CAGR of 11.0% during 2022-2030.
Key players operating in the South & Central America staffing and recruitment market are Adecco Group AG, Brunel International NV, Hays Plc, Korn Ferry, NES Fircroft, and Randstad NV, among others.
In August 2023, Korn Ferry launched Korn Ferry Nimble Recruit used for hiring. Korn Ferry Nimble Recruit is a one-stop data-driven recruitment technology offers scalable solution for hiring. It is a cost effective and agile technology that provide a high-touch experience in early career and professional roles.
o Highlights key business priorities in order to assist companies to realign their business strategies.
o The key findings and recommendations highlight crucial progressive industry trends in South & Central America staffing and recruitment market, thereby allowing players across the value chain to develop effective long-term strategies.
o Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
o Scrutinize in-depth South & Central America market trends and outlook coupled with the factors driving the market, as well as those hindering it.
o Enhance the decision-making process by understanding the strategies that underpin security interest with respect to client products, segmentation, pricing, and distribution.
TABLE OF CONTENTS
1. Introduction
1.1 the Research Team Research Report Guidance
1.2 Market Segmentation
2. Executive Summary
2.1 Key Insights
2.2 Market Attractiveness
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. South & Central America Staffing and Recruitment Market Landscape
4.1 Overview
4.2 Ecosystem Analysis
4.2.1 List of Vendors in Value Chain
5. South & Central America Staffing and Recruitment Market – Key Industry Dynamics
5.1 South & Central America Staffing and Recruitment Market – Key Industry Dynamics
5.2 Market Drivers
5.2.1 Huge Job Opportunities in BFSI and IT Sectors
5.2.2 Rise in Youth Population
5.3 Market Restraints
5.3.1 Lack of Qualified Job Seekers
5.4 Market Opportunities
5.4.1 Growing adoption of Remote Working and Hybrid Business Model Across the Globe
5.5 Future Trends
5.5.1 Automation and AI-Driven Recruitment
5.6 Impact of Drivers and Restraints:
6. Staffing and Recruitment Market – South & Central America Market Analysis
6.1 South & Central America Staffing and Recruitment Market Revenue (US$ Million), 2020 – 2030
6.2 South & Central America Staffing and Recruitment Market Forecast and Analysis
7. South & Central America Staffing and Recruitment Market Analysis – Staffing Type
7.1 Temporary
7.1.1 Overview
7.1.2 Temporary: Market Revenue and Forecast to 2030 (US$ Million)
7.2 Permanent
7.2.1 Overview
7.2.2 Permanent: Market Revenue and Forecast to 2030 (US$ Million)
8. South & Central America Staffing and Recruitment Market Analysis – Recruitment Channel
8.1 Online
8.1.1 Overview
8.1.2 Online: Market Revenue and Forecast to 2030 (US$ Million)
8.2 Hybrid
8.2.1 Overview
8.2.2 Hybrid: Market Revenue and Forecast to 2030 (US$ Million)
8.3 Offline
8.3.1 Overview
8.3.2 Offline: Market Revenue and Forecast to 2030 (US$ Million)
9. South & Central America Staffing and Recruitment Market Analysis – End User
9.1 IT and Telecom
9.1.1 Overview
9.1.2 IT and Telecom: Market Revenue and Forecast to 2030 (US$ Million)
9.2 BFSI
9.2.1 Overview
9.2.2 BFSI: Market Revenue and Forecast to 2030 (US$ Million)
9.3 Healthcare
9.3.1 Overview
9.3.2 Healthcare: Market Revenue and Forecast to 2030 (US$ Million)
9.4 Retail & E-Commerce
9.4.1 Overview
9.4.2 Retail & E-Commerce: Market Revenue and Forecast to 2030 (US$ Million)
9.5 Others
9.5.1 Overview
9.5.2 Others: Market Revenue and Forecast to 2030 (US$ Million)
10. South & Central America Staffing and Recruitment Market – Country Analysis
10.1 South & Central America Staffing and Recruitment Market Overview
10.1.1 South & Central America Staffing and Recruitment Market Breakdown, by Country
10.1.1.1 South & Central America Staffing and Recruitment Market Revenue and Forecasts and Analysis – By Country
10.1.1.2 Brazil Staffing and Recruitment Market Revenue and Forecasts to 2030 (US$ Mn)
10.1.1.2.1 Brazil Staffing and Recruitment Market Breakdown by Staffing Type
10.1.1.2.2 Brazil Staffing and Recruitment Market Breakdown by Recruitment Channel
10.1.1.2.3 Brazil Staffing and Recruitment Market Breakdown by End User
10.1.1.3 Argentina Staffing and Recruitment Market Revenue and Forecasts to 2030 (US$ Mn)
10.1.1.3.1 Argentina Staffing and Recruitment Market Breakdown by Staffing Type
10.1.1.3.2 Argentina Staffing and Recruitment Market Breakdown by Recruitment Channel
10.1.1.3.3 Argentina Staffing and Recruitment Market Breakdown by End User
10.1.1.4 Rest of South & Central America Staffing and Recruitment Market Revenue and Forecasts to 2030 (US$ Mn)
10.1.1.4.1 Rest of South & Central America Staffing and Recruitment Market Breakdown by Staffing Type
10.1.1.4.2 Rest of South & Central America Staffing and Recruitment Market Breakdown by Recruitment Channel
10.1.1.4.3 Rest of South & Central America Staffing and Recruitment Market Breakdown by End User
11. Competitive Landscape
11.1 Company Positioning & Concentration
12. Industry Landscape
12.1 Overview
12.2 Market Initiative
12.3 New Product Development
12.4 Merger and Acquisition
13. Company Profiles
13.1 Adecco Group AG
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
13.2 Brunel International NV
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Products and Services
13.2.4 Financial Overview
13.2.5 SWOT Analysis
13.2.6 Key Developments
13.3 Hays Plc
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Products and Services
13.3.4 Financial Overview
13.3.5 SWOT Analysis
13.3.6 Key Developments
13.4 Korn Ferry
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 Products and Services
13.4.4 Financial Overview
13.4.5 SWOT Analysis
13.4.6 Key Developments
13.5 NES Fircroft
13.5.1 Key Facts
13.5.2 Business Description
13.5.3 Products and Services
13.5.4 Financial Overview
13.5.5 SWOT Analysis
13.5.6 Key Developments
13.6 Randstad NV
13.6.1 Key Facts
13.6.2 Business Description
13.6.3 Products and Services
13.6.4 Financial Overview
13.6.5 SWOT Analysis
13.6.6 Key Developments
14. Appendix
14.1 About the Research Team
14.2 Word Index
LIST OF TABLES
Table 1. South & Central America Staffing and Recruitment Market Segmentation
Table 2. South & Central America Staffing and Recruitment Market Revenue and Forecasts to 2030 (US$ Million)
Table 3. South & Central America Staffing and Recruitment Market Revenue and Forecasts to 2030 (US$ Million) – Staffing Type
Table 4. South & Central America Staffing and Recruitment Market Revenue and Forecasts to 2030 (US$ Million) -Recruitment Channel
Table 5. South & Central America Staffing and Recruitment Market Revenue and Forecasts to 2030 (US$ Million) – End User
Table 6. South & Central America Staffing and Recruitment Market Revenue and Forecasts to 2030 (US$ Mn) – By Country
Table 7. Brazil Staffing and Recruitment Market Revenue and Forecasts to 2030 (US$ Mn) – By Staffing Type
Table 8. Brazil Staffing and Recruitment Market Revenue and Forecasts to 2030 (US$ Mn) – By Recruitment Channel
Table 9. Brazil Staffing and Recruitment Market Revenue and Forecasts to 2030 (US$ Mn) – By End User
Table 10. Argentina Staffing and Recruitment Market Revenue and Forecasts to 2030 (US$ Mn) – By Staffing Type
Table 11. Argentina Staffing and Recruitment Market Revenue and Forecasts to 2030 (US$ Mn) – By Recruitment Channel
Table 12. Argentina Staffing and Recruitment Market Revenue and Forecasts to 2030 (US$ Mn) – By End User
Table 13. Rest of South & Central America Staffing and Recruitment Market Revenue and Forecasts to 2030 (US$ Mn) – By Staffing Type
Table 14. Rest of South & Central America Staffing and Recruitment Market Revenue and Forecasts to 2030 (US$ Mn) – By Recruitment Channel
Table 15. Rest of South & Central America Staffing and Recruitment Market Revenue and Forecasts to 2030 (US$ Mn) – By End User
Table 16. Company Positioning & Concentration
Table 17. List of Abbreviation
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LIST OF FIGURES
Figure 1. South & Central America Staffing and Recruitment Market Segmentation, By Country
Figure 2. Ecosystem: South & Central America Staffing and Recruitment Market
Figure 3. Impact Analysis of Drivers and Restraints
Figure 4. South & Central America Staffing and Recruitment Market Revenue (US$ Million), 2020 – 2030
Figure 5. South & Central America Staffing and Recruitment Market Share (%) – Staffing Type, 2022 and 2030
Figure 6. Temporary: Market Revenue and Forecasts to 2030 (US$ Million)
Figure 7. Permanent: Market Revenue and Forecasts to 2030 (US$ Million)
Figure 8. South & Central America Staffing and Recruitment Market Share (%) – Recruitment Channel, 2022 and 2030
Figure 9. Online: Market Revenue and Forecasts to 2030 (US$ Million)
Figure 10. Hybrid: Market Revenue and Forecasts to 2030 (US$ Million)
Figure 11. Offline: Market Revenue and Forecasts to 2030 (US$ Million)
Figure 12. South & Central America Staffing and Recruitment Market Share (%) – End User, 2022 and 2030
Figure 13. IT and Telecom: Market Revenue and Forecasts to 2030 (US$ Million)
Figure 14. BFSI: Market Revenue and Forecasts to 2030 (US$ Million)
Figure 15. Healthcare: Market Revenue and Forecasts to 2030 (US$ Million)
Figure 16. Retail & E-Commerce: Market Revenue and Forecasts to 2030 (US$ Million)
Figure 17. Others: Market Revenue and Forecasts to 2030 (US$ Million)
Figure 18. South & Central America Staffing and Recruitment Market, by Key Country – Revenue (2022) (US$ Mn)
Figure 19. South & Central America Staffing and Recruitment Market Breakdown by Key Countries, 2022 and 2030 (%)
Figure 20. Brazil Staffing and Recruitment Market Revenue and Forecasts to 2030 (US$ Mn)
Figure 21. Argentina Staffing and Recruitment Market Revenue and Forecasts to 2030 (US$ Mn)
Figure 22. Rest of South & Central America Staffing and Recruitment Market Revenue and Forecasts to 2030 (US$ Mn)
The List of Companies – South & Central America Staffing and Recruitment Market
1. Adecco Group AG
2. Brunel International NV
3. Hays Plc
4. Korn Ferry
5. NES Fircroft
6. Randstad NV
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