COVID-19 has impacted each industry differently. Some, however, have fared much better than expected. We were pleased to see that most PEOs and staffing companies we work with have adapted and managed well through this pandemic and ongoing resulting recovery.
For example, the healthcare staffing industry was forced to quickly change its model with the significant increase in telemedicine, which has created different job opportunities requiring new skillsets. According to Staffing Industry Analysts (SIA), telemedicine is a trend that will continue post COVID, and will provide a growing niche space for healthcare staffing providers.
Additionally, the economic recovery has positively impacted industrial staffing firms. Manufacturing and construction have returned at lightning speed bringing a high demand for industrial workers to be placed by temporary staffing agencies. Warehouse and logistics jobs have increased with consumers purchasing nearly everything online – which is either shipped out of a nearby warehouse for last-mile delivery or a centralized warehouse.
For PEOs, their business model has become a critical support role for clients during the COVID-19 pandemic. From helping their clients secure Payroll Protection Program (PPP) loans to navigating the challenges that come with a pandemic – such as downsizing and remote work policies – PEOs have become an even more vital resource for their clients.
According to PEO Insider and based on data for job openings on Glassdoor.com, the occupations that are experiencing the biggest increase in demand since the start of COVID-19 include grocery managers, warehouse managers, public health advisers, and IT specialists. These industries are all heavily served by both PEOs and staffing companies.