The COVID-19 pandemic has affected all industries, not the least of which being talent acquisition. The Contingent Workforce Management (CWM) outsourcing / Managed Service Provider (MSP) market grew at a decent rate in 2019, but 2020 has been harder on this space. But while the immediate result has been dampened demand, we expect the market to turn around and see growth in early 2021, as the temporary workforce is likely to be a key choice when countries start to emerge from COVID-19.
As the industry recovers, we expect buyers to demand greater direct sourcing, services procurement management capabilities, and digitalization from their service providers. We’ll also see rising demand for advanced data analytics to drive deeper insights into workforce and recruitment activity.
In this research, we explore the evolving market dynamics in the face of COVID-19, geographical variations in the CWM market, next-generation CWM trends, and implications for CWM providers and enterprises.