67 WALL STREET, New York - January 17, 2014 - The Wall Street Transcript has just published its Staffing & Outsourcing Services Report offering a timely review of the sector to serious investors and industry executives. This special feature contains expert industry commentary through in-depth interviews with public company CEOs and Equity Analysts. The full issue is available by calling (212) 952-7433 or via The Wall Street Transcript Online.
Topics covered: Growth in Temporary Staffing Demand - Secular Trend Toward Temporary Staffing - Strong Demand for IT Staffing - BPO Market Trends - Healthy Demand in BPO Space - Cost-Cutting Measures - Steady Growth in Labor Market - Upside Potential in Staffing Sector
Companies include: On Assignment Inc. (ASGN) and many more.
In the following excerpt from the Staffing & Outsourcing Services Report, the President and CEO of On Assignment, Inc. (ASGN) discusses company strategy and the outlook for this vital industry:
TWST: Tell us more about your most active verticals or most growing verticals in terms of your customer base.
Mr. Dameris: Clearly for the entire staffing industry, IT staffing has been the fastest-growing vertical. We've been growing two times the rate of a lot of our competitors, and that's because of our skill sets, our focus and our size. We're the second-largest IT staffing company in the United States, only behind a company called TEK Systems. We anticipate between $1.3 billion to $1.4 billion in IT staffing revenue alone.
We work with most of the major money center banks, and when you look at the industries that are spending the most on technical staffing right now, it's in the financial services industry. They're typically the biggest vendors and the earliest adopters of new technology. In addition, a lot of the new regulations coming in with regard to Dodd-Frank and other upcoming required changes - they have renewed their spend. There was a little bit of a lull in 2012, because a lot of the major banks had completed mergers and needed to focus on integration work, but now they're back to new product development and complying with new regulations.
We're also seeing the greatest secular changes going on in the IT world. Beyond just economic recovery, more and more customers are electing to implement, develop or deploy new technology using a staff augmentation model versus internal execution, offshoring or project-consulting companies. A core reason behind this is that they gain greater visibility, control, flexibility and price control by utilizing our services. This has also had a direct impact on the growth rates in the IT staffing world, and we don't see that dissipating. And when you consider how short technology-creation cycles are, you can...
For more of this interview and many others visit the Wall Street Transcript - a unique service for investors and industry researchers - providing fresh commentary and insight through verbatim interviews with CEOs, portfolio managers and research analysts. This special issue is available by calling (212) 952-7433 or via The Wall Street Transcript Online.