Lack of Temp Workers Spurs Consolidation
Now that tax season is over, the push for temporary personnel from firms like Accountemps and Robert Half isn't so bad. Nonetheless, alarming trend in a lack of applicants has hurt the overall staffing business.
Unemployment is at an all time low, and this does not bode well for this huge industry. As a result, analysts are predicting a real surge in the number of large firms that will try to buy up the smaller ones in an attempt to achieve market share.
Similar to what's happened to the accounting profession in which large companies like American Express Financial Services and Century Business Systems (CBiz) have bought up smaller firms across the United States, we're just seeing the tip of the iceberg for this trend in staffing firms.
Stay tuned for more information, especially as consolidation affects firms supplying temporary accounting personnel.