Asia Pacific Staffing and Recruitment Market Forecast to 2030 - Regional Analysis - by Staffing Type, Recruitment Channel, and End User

The Asia Pacific staffing and recruitment market is expected to grow from US$ 1,41,769.35 million in 2022 to US$ 3,87,083.75 million by 2030. It is estimated to record a CAGR of 13.4% from 2022 to 2030.

Growing adoption of Remote Working and Hybrid Business Model Boosts Asia Pacific 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. For instance, according to the Indian Staffing Federation, Flexi hiring is expected to grow by 14% over last year's volumes in the festive season, especially in job roles. Festive season created job opportunities for delivery personnel and support functions, supply chain and logistics operations, and packaging and warehouse management. 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.

Asia Pacific Staffing and Recruitment Market Overview

The Asia Pacific staffing and recruitment market is segmented into Australia, China, South Korea, India, Japan, and the Rest of Asia Pacific. The market has massive growth potential, with rapidly-growing countries such as China and India as well as developed nations such as Japan. The region has a well-established manufacturing sector, including electronics, food & beverages, automobiles, and healthcare industries, among others. The manufacturing sector in Asia Pacific is rapidly adopting automation, AI, cloud-based solutions, and other new technologies. The staffing and recruitment market in Asia Pacific is highly fragmented due to the increasing number of players that offer customized staffing and recruitment solutions and services to their clients across developing nations.

According to the Asian Development Bank (ADB) Institute survey, Asia Pacific lost 8% of working hours in 2020 due to the COVID-19 pandemic. Growing employment rates increase the demand for staffing and recruitment services as it simplifies the hiring process. The India government has introduced the concept of universal employment. In December 2020, the Ministry of Employment and Labour of India established a roadmap to gradually extend employment insurance coverage to all workers by 2025. Thus, initiatives by governments of various nations are likely to create employment opportunities for the unemployed population among enterprises in the region in the coming years.

Asia Pacific Staffing and Recruitment Market Revenue and Forecast to 2030 (US$ Million)

Asia Pacific Staffing and Recruitment Market Segmentation

The Asia Pacific staffing and recruitment market is segmented into staffing type, recruitment channel, end user, and country.

Based on staffing type, the Asia Pacific staffing and recruitment Market is bifurcated into permanent and temporary. The permanent segment held a larger share of the Asia Pacific staffing and recruitment market in 2022.

In terms of recruitment channel, the Asia Pacific staffing and recruitment market is segmented into online, hybrid, and offline. The online segment held the largest share of the Asia Pacific staffing and recruitment market in 2022.

By end user, the Asia Pacific staffing and recruitment market is categorized into IT and telecom, BFSI, healthcare, retail and E-Commerce, and others. The IT and telecom segment held the largest share of the Asia Pacific staffing and recruitment market in 2022.

Based on country, the Asia Pacific staffing and recruitment market is segmented into China, Japan, India, South Korea, Australia, Thailand, Vietnam, and the Rest of Asia Pacific. China dominated Asia Pacific staffing and recruitment market in 2022.

Adecco Group AG, Alliance Recruitment Agency, Brunel International NV, Hays Plc, Korn Ferry, Medacs Global Group Ltd, Morgan Philips Group SA, NES Fircroft, and Randstad NV are some of the leading companies operating in the Asia Pacific staffing and recruitment market.

Reasons to Buy:

• Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the Asia Pacific staffing and recruitment market.
• Highlights key business priorities in order to assist companies to realign their business strategies.
• The key findings and recommendations highlight crucial progressive industry trends in Asia Pacific staffing and recruitment market, thereby allowing players across the value chain to develop effective long-term strategies.
• Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
• Scrutinize in-depth Asia Pacific market trends and outlook coupled with the factors driving the market, as well as those hindering it.
• Enhance the decision-making process by understanding the strategies that underpin security interest with respect to client products, segmentation, pricing, and distribution.