Covid-19 has changed the economic landscape of many industries. Some have fallen, some have emerged stronger. Let's take a look at the ones that are leading the staffing industry by requiring the most number of temporary workers!
The dawn of Covid-19 has changed the economic landscape of various countries across the world. The industries which were flourishing pre-Covid, witnessed a sudden decline, and some stagnant industries experienced an immense rise. The Pharmaceuticals & Healthcare industry was the most successful, whereas, the Travel & Tourism sector felt a downfall. Amidst the ups and downs of various industries, there are a few which grew organically, and became the upcoming industries that will need external workers to keep up with the expanding demand :
Due to Covid-19, customers started to spend more time at home. This led them to order a lot of products online that they wouldn't have found time for otherwise. Amazon recently announced that 100,000 new warehouse and delivery workers would be hired by them to keep up with growing shipments. The hourly pay of the workers increased by $2 as well.
It's the same with a lot of e-Commerce websites. They're gaining more spotlight and orders from people who have been cooped up for months, and have developed a shopaholic streak!
Warehousing & Distribution Logistics
Digital shopping witnessed dramatic growth during the lockdown. Many people started to get more time to scroll through pages and pages of products and bought them.
Hence, to deliver the ordered products to the customer's doorstep, the logistics game of an E-Commerce company has to be top-notch. It has been predicted that the warehousing and logistics industry will rise by 35% in 2021 as compared to the earlier industry demand forecast that was 25%. The transition of retail to online means the companies would need to step up to improve and speed the warehousing demands.
It was predicted that the global logistics market would grow at CAGR 3.48% between 2016 to 2022 and will attain a market size of around $12,256 billion by 2022. And the Asia-Pacific region will be one of the greatest contributors to this market.
Cleaning & Hygiene
Sanitation, cleaning, hygiene - are the words that have been dominating public places since Covid-19 entered the picture. Post pandemic, this cultivated habit of keeping things clean will persist and hence, the industry will grow and require more temporary workers to smoothly carry out their duties for a safer environment.
In fact, the global cleaning & hygiene market was valued at USD 2.63 billion in 2019, and it is expected to reach 5.91 billion USD by 2025, noting a CAGR of 15.7 between 2019-2025.
The growth is fated not solely because of Covid-19. The purchasing power, advancement in technology, the trend of automation are the other factors that are driving the growth of this industry as a whole.
When life forces you to adhere to four walls, you have no choice but to spend time with yourself. This trend has brought into the spotlight a lot of independent artists, more than the commercial ones. But once the fear of the pandemic goes away, people will seek to see these artists live.
That means, people, music, entertainment, concerts. That would again mean, a lot of staff, people behind the scenes, and a lot of temporary staff/volunteers. Hence, the music industry has also lined up in the queue to take the staffing market by storm.
The global music community has never been more connected! Fans and artists are seeking opportunities to listen to and share the music that they love. The music industry is going through growth specifically in the Asia-Pacific and Latin America region, and artists are actively taking up opportunities to reveal themselves to a worldwide audience.
Hence, the market consists of higher growth potential along with artists seizing various opportunities, mostly digital. But again, producing content digitally requires manpower and lots of work too. Therefore, temporary workers would be required here too.
Theaters are closed now, but in some countries, they are slowly opening up. Nothing can beat the experience of watching films on the big screen. Even if OTT platforms are gaining popularity, box-office releases will resume with full force once the vaccination has been given to the mass. New protocols in the launch events would mean more manpower. But at the same time, let's not forget that OTT platforms have become just as important, with a frequency of releases that easily surpasses that of the traditional form. Independent and experimental content is dominating the OTT platforms and they are spearheading the overall transformation that the entertainment industry is going through. The global OTT market is expected to grow at a CAGR of 15% between 2021-2026, and it attained a value of USD 82 billion in 2020.
Staff is required in all the phases of a film - the pre-production, production, and post-production. Fresh faces have emerged with their fresh ideas during the pandemic and would want to bring their scripts to life, demanding the need for an extra pair of hands i.e temporary workers.
The global film and video market is expected to grow from $234.91 billion in 2020 to $251.92 billion in 2021 at a growth rate of 7.2%. The growth will be owed to the companies who will reorganize their operations as they bounce back from the negative impact of Covid-19 on the market. By 2025, the market will reach $318.23 billion, growing at a CAGR of 6%.
The legitimacy of e-Learning was further enhanced due to the dawn of Covid-19. Schools, colleges, and institutes for higher studies were compelled to shift their classes online. Now, since everyone can have access to education online, more and more people are seeking it. The e-Learning industry would soon require more teachers, and not just for kids but also other sectors like agriculture and healthcare to carry out training sessions. The growing adoption of sustainable farming methods is further escalating the demand for e-learning in the agriculture sector.
Many established companies are seeking e-Learning platforms that focus on custom e-learning services that will help their employees learn to create a strategy, identity particular requirements, and develop content accordingly. The overall growth of the literacy rate all over the world has driven organizations to provide flexible, distinctive courses that suit individual demands. From long-term to short-term courses, upgrading knowledge has become a thing worldwide. Several online platforms already offer certified degrees of university-affiliated courses. The pandemic has just added fuel to the fire that was already bustling in flames. All in all, this means that this industry will require a lot of staff temporarily to keep up with the ever-growing demand of this sector.
The e-learning market is poised to grow by $28.36 billion during 2020-2024, developing at a CAGR of over 13%. Hence, this too is an upcoming industry that carries immense potential to grow further.
The whole world is fighting to manage the physical part of Covid-19's effect, but what about the mental aspect? The cases of depression have been increasing over the months and are fetching the attention of a lot of professionals. Even after getting the vaccine, some people still might feel sick. The effects of the pandemic on the mind will linger long after Covid-19 has subsided.
So, companies will be forced to address the issues that their employees are facing personally and do something about them. Departments solely devoted to the well-being of minds will be common in many companies. Hospitals and other healthcare facilities will also upgrade their mental health division to stay in tune with the rest of the world. The progress might be slow, but it is inevitable. Once people truly realize the importance of maintaining mental health, there will be no going back. More and more staff who specialize in this sector would be required to treat a wide range of psychological problems.
The global healthcare staffing market was worth 31.8 billion USD in 2019 and between 2020 to 2027, it has been predicted to increase by a CAGR of 5.4%. This is due to the rise in the aging population all over the world in the last few years. The awareness of temporary work, its perks, and various opportunities have further pushed the boundary and growth of temporary staffing in this industry. The problem with the healthcare sector as a whole is that there aren't enough staff available to keep up with the patients and their needs.
According to a report by the World Health Organization in 2013, there was a shortage of 7.2 million healthcare workers. Imagine the horror, stress, and exhaustion the existing workers must have gone through back then! The bad news is that since 2013, the staffing problems of the healthcare sector has not been amended. And the Covid-19 situation further worsened matters. Hence, the healthcare sector has lined up to become the one with the highest demand for temporary workers. 50% of hospitals in the US have new job openings, and we can already feel the momentum building up.
The areas in the Retail Industry that require the most staff are the merchandise stores, clothing clothes, building materials, and supplies dealers, sporting goods, musical instrument stores, and automobile dealers. Cashiers, customer service representatives, food and beverages servers are some of the many roles that need to be staffed regularly.
These job profiles are the backbone of the retail market and therefore its vacancies need to be properly filled. Since the customers would want something or the other at any moment, the companies both small and large need to be equipped with the right amount of staff to manage the customers and their ever-increasing needs.
The pharmaceutical industry is subjected to constant change. New diseases erupt, new drugs get discovered, new technology, markets, and demographics come to the picture! This means there's a desperate demand for highly skilled and qualified professionals in this industry. This industry has buckled up to embark on a hiring spree to keep up with the new emerging roles. This market is growing at a fast pace, new responsibilities and vacancies have been created at multiple levels and HR departments of the companies in this sector are scrounging for talented staff who will fit into the roles perfectly.
There is a deficiency of talent now but that is fated to change in the upcoming year. Groundbreaking thinkers with diverse experience are being hunted for and the rising costs, increased glottalization, and technological advances are driving the Pharmaceutical industry further.
You get the best of taste when you have the best of staff. It takes more than just a mouth-watering menu to maintain the consumer's happiness. Whether it's a restaurant or food processing unit, you'd need workers to fill in the roles to ensure good production and service of food items. The competition is very high in this sector as new restaurants, stalls, cafes, and factories spurn out almost every other minute in this world.
This means that the need and demand are high too and to make sure the customers are satisfied, the service needs to be impeccable, and for the service to be impeccable, you need a lot of temporary staff. In August 2019, the restaurant industry added 133,600 obs despite Covid-19's reign. But pre-Covid, the staffing requirements were higher, and post-Covid they're supposed to reach this level again or even go up higher.
The advent of Digital Marketing has helped millions of small businesses to flourish and has contributed to the growth of almost all industries. The world primarily consumes content online now and hence is always within reach. Digital Marketing companies use this as a leverage to promote, uplift, and popularize different companies in different sectors. All the other industries are connected to this one as they rely on online platforms to boost their presence, increase sales and create brand awareness in the market. California is currently leading the Digital Marketing market and had the largest size at $288 million back in 2017 and has grown tremendously since then.
The popularity of social media marketing that comes under the umbrella of Digital Marketing is also a reason why companies want to invest in Digital Marketing agencies. And more and more people are realizing the worth of hiring temporary staff for its management, either via a Digital Marketing agency or by contacting freelancers and contract-based workers.
So these were all the upcoming industries that will have an increased demand for temporary workers. The growth rate might differ but it's growth nonetheless. Stay tuned to find out more about the staffing industry!
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