Temporary-Employment Placement Agencies in the UK - Market Research Report (2014-2029)

Gap In the Market: Companies Turn to Agencies to Help Fill Record Job Vacancies

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.

Temporary-Employment Placement Agencies' revenue is forecast to decline at a compound annual rate of 3.4% to £41.4 billion over the five years through 2022-23. The COVID-19 outbreak meant key employers of temporary workers in the sports and music events spaces completely shut their doors and businesses froze hiring, reducing clients for agencies. Sign-ups for temporary employment declined, hitting revenue in 2020-21. Companies pressed play immediately on hiring as the economy reopened in 2021-22 with record vacancies particularly in the service sector, boosting revenue for recruiters.

Businesses in this industry provide their clients with workers to temporarily replace or supplement their existing labour force. The individuals are employed by the agency but are supervised by the client at the worksite. The industry excludes employees outsourced on a long-term basis, classified in other industries according to their activity.