Greenshades currently serves over 600 staffing agencies providing highly rated payroll, HR, and tax solutions. To stay up to date on our staffing industry expertise, Greenshades hit the road to Las Vegas, Nevada, to attend the 2022 Staffing World Convention & Expo. The show was full of deep insights, networking, and knowledge shared among peers. Let’s explore our observations of the conference.
The conference offered insightful sessions, knowledge hubs, peer group masterclasses, and inspiring words from women in the staffing industry in THRIVE Live.
The speakers at various sessions helped us better understand the disruptions that impact the staffing industry and how we can work together to overcome these disruptions. We took away some interesting insights surrounding the staffing industry:
- The pace of new job openings has far exceeded the number of new hires during pre-pandemic, job openings in May of 2020 were around 4.5 million jobs open with about 4 million new hires and now there are about 10 million jobs open with about 6 million new hires.
- Labor participation is falling around the world, with the US at around 62% of eligible workers in the workforce and 38% choosing to opt out of the workforce.
- There are many factors leading to the labor shortage: Birth rates are decreasing and there are fewer people participating in the labor market than jobs open. People are also living longer, 15% of the population in the US is over the age of 65 and reaching retirement age.
- It is important to be compliant with immigration-related employment discrimination, if you have questions it is good to reach out to the U.S. Department of Justice Civil Rights Division Immigrant and Employee Rights Section
- From 2019-2022 healthcare went from S20B to over $50B, and the demand for nurses and medical staff is at an all-time high.
- After compensation, job security is the most important factor in retaining workers. Next is flexibility, 93% of employees want remote options for work but only 25% of employees want to be remote all the time.
The show opened with keynote speaker Earvin "Magic" Johnson, who spoke to attendees about enhancing company culture, building a winning team, growing your business, and leading through disruption. Earvin Johnson was full of energy and created an engaging experience by walking through the audience to ask questions, take pictures, and even chest-bumping the attendees. Even though I did not get a picture or a chest bump, I did take away a wealth of knowledge, and a homework assignment to work on my own professional and personal SWOT analysis, strengths, weaknesses, opportunities, and threats.
We spoke to many staffing agencies about how an in-house flexible provider, like Greenshades, can help you navigate the unexpected scenarios the staffing industry may face through flexible payroll operations and control of your funds. Technology providers that support your business, like our integration partners Bullhorn and Avionte, filled the expo floor.
If you did not get a chance to catch us at Staffing world 2022, you could see Greenshades next year as we hit the road to attend Staffing World 2023 in Charlotte, North Carolina.