The US industrial staffing and strategic solutions market slowed down in 2024 due to persistent economic headwinds, including inventory destocking, elevated interest rates, and a cooling manufacturing PMI. Recent labor regulation changes have added operational complexities for providers managing shift-based workforces. Although market demand remained below pre-2022 levels, the pace of decline moderated compared to 2023, indicating early signs of stabilization. Labor shortages, especially in skilled trades, continued to pose fulfillment challenges. However, resilient sectors such as aerospace and defense, semiconductors, infrastructure, logistics, and food processing sustained hiring needs. High-performing providers prioritized these segments while investing in digital staffing platforms, upskilling and safety programs, and outcome-based delivery models such as onsite and cost-per-unit solutions. This report explores the industrial contingent staffing provider landscape in the US and its market impact in 2024. It provides the market’s overview and analyzes how different industrial contingent talent and strategic solutions providers differentiate based on the Everest Group PEAK Matrix® evaluation.  

Rapid technology advances, regulatory shifts, and economic volatility are reshaping the BFSI industry. Trends such as AI adoption, rising cybersecurity needs, and sustainability focus are transforming workforce demands, creating new roles, phasing out legacy skills, and intensifying the race for digital and niche talent. Enterprises now face mounting pressure to attract, retain, and upskill a dynamic, diverse workforce amid growing talent shortages. Within the subsectors of banking, capital markets, insurance, and FinTech, digital agendas and regulatory demands are fueling distinct hiring challenges. Organizations are rethinking workforce models, balancing permanent and contingent talent, and adopting agile, skill-based hiring. Strategic outsourcing through Recruitment Process Outsourcing (RPO) and contingent workforce management is gaining traction, while employer branding and early talent initiatives are becoming essential in a competitive talent market. This report offers a global and country-level view of evolving BFSI talent trends, talent acquisition maturity, and strategic priorities. It provides actionable insights to help BFSI enterprises optimize talent acquisition through modular RPO, curated managed service providers, and AI-driven recruitment, enabling them to build agile, future-ready workforces aligned with the industry’s rapid transformation.

In an increasingly volatile and fast-paced business environment, contingent labor is becoming a key driver of agility and specialized talent access. However, managing this workforce segment comes with challenges, including sourcing, compliance, planning, and visibility. Hence, leveraging advanced analytics and integrated technologies is essential to stay ahead. The need for data-driven, smarter, tech-enabled approaches is urgent. Organizations can gain real-time insights, optimize decision-making, and forecast talent needs more precisely by leveraging predictive and prescriptive analytics, along with technologies such as Artificial Intelligence (AI)/ Machine Learning (ML), Natural Language Processing (NLP), and Robotic Process Automation (RPA). In this Viewpoint, Everest Group explores how data-driven strategies and advanced analytics transform Contingent Workforce Management (CWM). It offers a strategic roadmap to embed analytics into CWM programs, improve efficiency, and deliver long-term value across stakeholder groups. Scope All industries and geographies Contents In this report, we explore: The rising importance of data and analytics for an effective CWM program A robust data-driven CWM program’s key components Strategies to infuse data analytics into existing CWM programs

In 2023 and 2024, the contingent talent and strategic solutions industry experienced a notable growth deceleration due to macroeconomic uncertainties and a pervasive global economic slowdown. This economic downturn intensified cost pressures on enterprises across sectors and prompted organizations to reassess their staffing strategies and resource allocation practices. Enterprises encountered tight budgets and increased operational challenges, compelling them to evaluate their workforce needs more strategically, leading to a more cautious approach to hiring contingent talent. Despite these challenges, the fundamental imbalance between talent supply and demand remained a significant issue due to the ongoing talent shortage of niche skills. In this report, we examine key market trends that have shaped the contingent talent and strategic solutions industry during this turbulent period and how these trends have influenced contingent talent and strategic solutions providers’ strategies and investments. The report also explores strategic adjustments that contingent talent and strategic solutions providers have made to the increasing digital adoption, evolving skill landscape, AI emergence, and anticipation around green skills. It also analyzes proactive measures staffing providers took to enhance their service offerings and become enterprise strategic partners. Scope Industry: contingent talent and strategic solutions Geography: the US and UK This report analyzes and draws insights from year-round coverage of over 50 US and more than 25 UK contingent talent and strategic solutions providers Contents In this report, we examine: The contingent talent and strategic solutions market overview Key market trends Major investment themes for providers The contingent talent and strategic solutions provider landscape in the US and the UK Membership(s) Contingent Staffing Sourcing and Vendor Management

Post-pandemic, volatile business and talent demands have compelled organizations to rethink their workforce strategies while realizing the importance of a contingent workforce. This realization is driving the expansion of the Contingent Workforce Management (CWM) / Managed Service Provider (MSP) and Vendor Management System (VMS) markets. Despite the recent economic slowdown, CWM and VMS providers continue enhancing their service delivery capabilities and advancing process digitalization. MSPs and VMSs are significantly investing in enhancing their capabilities in managing non-traditional talent acquisition categories, including services procurement, independent contractors/freelancers, and direct sourcing. Simultaneously, providers are tailoring their offerings to address the unique needs of specific client segments, such as mid-market businesses and clients in the healthcare and blue-collar industries. They also leverage generative AI, advanced analytics, and automation to build comprehensive, end-to-end CWM solutions. In this report, we evaluate the global dynamics of CWM/MSP and VMS markets, highlighting regional variations, buyer adoption trends, technology trends, and solution trends. The report also explores the market’s future direction. Scope All industries and geographies Contents In this research, we examine: Economic trends influencing talent demands CWM/MSP and VMS market size and growth CWM/MSP and VMS markets’ geographical variations Buyer adoption trends Key trends shaping the CWM/MSP and VMS markets Providers’ key investment areas Membership(s) Contingent Workforce Management Sourcing and Vendor Management

Contingent Workforce Management (CWM) providers have become essential as businesses seek effective strategies to oversee their contingent workers. Owing to rapidly changing economic environment, firms across sectors and regions, including emerging mid-market segments, prefer to hire contingent for their operational needs. Thus, CWM providers are expanding their service offerings to meet their clients' evolving demands to manage their contingent workforce comprehensively. This compendium provides accurate, comprehensive, fact-based snapshots of 27 CWM service providers / Managed Service Providers (MSPs). Each profile offers a detailed overview of the provider’s service suite, scale of operations, recent developments and investments, technology solutions, and delivery locations. The report will enable providers to benchmark themselves against competitors and help buyers select suitable providers for their requirements. Scope All industries and geographies Contents In this research, we feature 27 CWM service provider profiles and include: Company profile and scale of operations: key leaders, managed spend, active clients, workers managed, recent developments, and tools and technology capabilities Client portfolio: major clients and recently announced contracts, managed spend by geography, industry, engagement model, deal size, and type of workers managed Services procurement client portfolio: managed spend by geography and category Delivery locations: details of key delivery locations worldwide Membership(s) Contingent Workforce Management Sourcing and Vendor Management

In 2023, the UK contingent talent and strategic solutions market faced challenges shaped by a complex mix of economic, political, and global factors. The broader economic context was dominated by high interest rates, which continued to suppress business sentiment despite the easing inflation compared to 2022. Unlike the US, where talent shortages were common, the UK saw high unemployment, pointing at the persistent mismatch between job openings and the available skills in the workforce. Additionally, stagnant productivity further weakened the talent market. Although the contingent talent and strategic solutions market fared better than the permanent staffing sector, the segments experienced an overall slowdown. Only providers with diversified portfolios, focusing on strategic solutions, managed services, and other strategic investments, were able to effectively navigate these challenges. As we look forward to 2024-25, there is cautious optimism for the UK economy. The new government offers hope for modest growth, which could positively influence the contingent talent and strategic solutions market, though a full recovery in business confidence may take time. This report examines the contingent talent and strategic solutions landscape’s dynamics in the UK and its impact on the UK contingent staffing market in 2023 under the lens of IT and business and professionals staffing. It provides a market overview and analyzes the areas where providers differentiate themselves based on the comprehensive Everest Group PEAK Matrix®. Scope Industry: contingent talent and strategic solutions Geography: UK Skills coverage: IT, business and professionals Contents The report analyzes the performance of various UK contingent talent and strategic solution providers and examines: The UK contingent talent and strategic solution provider landscape 17 UK IT contingent talent and strategic solutions providers and classifies them into Leaders, Major Contenders, and Aspirants on Everest Group’s proprietary PEAK Matrix® framework 16 UK business and professionals contingent talent and strategic solutions providers and classifies them into Leaders, Major Contenders, and Aspirants on Everest Group’s proprietary PEAK Matrix® framework Providers’ capability assessment on seven dimensions: market adoption, portfolio mix, value delivered, scope of services offered, innovation and investments, delivery footprints, and vision and strategy Each contingent talent and strategic solution provider’s key strengths and limitations Membership(s) Contingent Staffing Sourcing and Vendor Management

Contingent Workforce Management (CWM) providers are becoming increasingly essential as businesses seek effective strategies to oversee their contingent workers. Companies across diverse sectors and regions, including emerging mid-market segments, are turning to contingent labor to address their operational needs. Consequently, CWM providers are expanding their service offerings to meet their clients' evolving demands to manage their contingent workforce comprehensively. The expanded range of contingent talent solution offerings includes direct sourcing, services procurement management, total talent management, and independent contractor management. Providers are also enhancing their capabilities by investing in gen AI and digitizing workflows to improve efficiency and accuracy. Additionally, they are boosting their consulting expertise to deliver tailored, strategic insights that support enterprises' unique needs. This PEAK Matrix® assessment will help key stakeholders – buyers, service providers, and technology providers – understand the MSPs / CWM and services procurement provider landscapes, evaluate providers’ capabilities, and identify the Leaders, Major Contenders, Aspirants, and Star Performers in the market. Scope All industries and geographies Over 2,000 CWM/MSP and services procurement deals Coverage across 36 MSPs / CWM providers and 19 services procurement providers Contents This report explores the MSPs / CWM and services procurement provider landscapes and analyzes the performance of 36 MSPs / CWM providers and 19 services procurement providers and includes: MSPs / CWM provider PEAK Matrix® and Star Performers for 2024: classification of providers as Leaders, Major Contenders, and Aspirants based on Everest Group’s proprietary PEAK Matrix® framework Services procurement / SOW PEAK Matrix® and Star Performers for 2024: classification of providers as Leaders, Major Contenders, and Aspirants based on Everest Group’s proprietary PEAK Matrix® framework Everest Group’s analysis of providers: overall CWM/MSP and services procurement capability assessed by evaluating the providers along seven dimensions – market adoption, portfolio mix, value delivered, scope of services offered, innovation and investments, delivery footprint, and vision and strategy Membership(s) Contingent Workforce Management Sourcing and Vendor Management

The US industrial staffing and strategic solutions market faced a downturn in 2023 due to reduced consumer demand, lower production activity, and pressures on costs and margins amid an economic slowdown. Additionally, recent labor regulations further disrupted the industrial staffing sector. Despite the overall market deceleration, there are growth opportunities in sectors such as advanced manufacturing, renewable energy, and e-commerce. These segments are expected to drive future demand for industrial staffing, especially in high-skilled and in-demand roles. Successful providers in this market are investing in developing capabilities in these resilient segments, focusing on enhancing associate benefits, safety training, upskilling opportunities, adopting digital staffing approaches, offering onsite solutions, and more. This report explores the industrial contingent staffing provider landscape’s dynamics in the US and its market impact in 2023. It provides the market’s overview and analyzes how different industrial contingent talent and strategic solutions providers can be differentiated using the comprehensive Everest Group PEAK Matrix®. Scope Industry: contingent talent and strategic solutions Geography: US Skills coverage: industrial Contents The report analyzes the performance of 21 industrial contingent talent and strategic solutions providers in the US and examines: Their key strengths and limitations and classifies them into Leaders, Major Contenders, and Aspirants The providers’ capabilities on seven dimensions: market adoption, portfolio mix, value delivered, scope of services offered, innovation and investments, delivery footprints, and vision and strategy Membership(s) Contingent Staffing Sourcing and Vendor Management

The energy and utility industry is rapidly transforming, with a growing emphasis on sustainability, clean energy, and carbon reduction initiatives. This transformation has led to the evolution of conventional roles in traditional energy segments and the rise in demand for skilled professionals in alternative energy segments. With growing talent shortages due to demographic shifts and the lack of specialized talent, energy and utility organizations are partnering with Managed Service Providers (MSPs) and Recruitment Process Outsourcing (RPO) providers to help in sourcing and targeting top talent, creating impactful Employee Value Propositions (EVPs), and leveraging market intelligence and emerging technologies to manage talent acquisition programs. In this viewpoint, we explore avenues through which energy and utility organizations can future-proof their talent acquisition and management strategies to thrive in this dynamic business landscape. Scope Industry: energy and utility Geography: global Contents In this report, we examine: The energy and utility industry’s evolving talent landscape Transforming talent needs Emerging challenges and key trends in acquiring and managing talent Approaches for energy and utility organizations to future-proof their talent strategies Membership(s) Contingent Workforce Management Contingent Staffing Recruitment Sourcing and Vendor Management