Staffing services expect strong fourth quarter

Hiring expected to pick up as recession wanes
By Steve Jones
|CHRR, Guide to Recruitment & Staffing|Last Updated: 10/17/2002

The summer months have shown record-breaking surges and declines in stock prices, making predicting future economic performance a hap-hazard guessing game at best. Looking toward broad economic trends, including the markets, used to be a predominate factor influencing the mood for hiring. Unfortunately, today’s indicators are pointing every which way, making the current hiring mood one of caution.

There is a cautious optimism among member firms of the Association of Canadian Search, Employment & Staffing Services (ACSESS) that staffing will pick up in the fourth quarter this year or by early 2003. Recruitment and hiring will eventually return to the forefront of HR responsibilities — it’s just a question of when. In the interim, there are a number of things business managers and hiring authorities can do.

“Recent quarterly reports from two of the bellwether staffing firms lead us to believe that conditions have probably stabilized and staffing volumes in the U.S. are starting to show tentative signs of improvement in some segments,” said Joshua Rosen, a financial markets analyst with Credit Suisse-First Bank. This is significant because the temporary staffing industry is seen as a leading indicator of future economic performance.