A look at the staffing software market size and potential

 Staffing software market size was at $2,366.21 million in 2021 and is estimated to reach $3,873.98 million by 2030, stretching wide at CAGR of 5.85% from 2023 to 2030. 

The market growth is to be attributed to the increasing demand for staffing software solutions across different end-use industries. staffing software's most substantial value proposition is to pull down the time and significant staffing costs spent on tedious manual tasks such as job posting, screening, applicant grading, etc. This software helps automate the entire recruiting process, and also limits the time and cost of the organizations. 

Definition of staffing software market

staffing software solutions is designed to optimize the candidate screening, hiring, and onboarding processes. It is also known as an applicant tracking system. 

Staffing software holds manifold advantages for modern recruitment

The essential benefit of acquiring one is to have streamlined the entire process, reducing the time between the recruitment manager's request and when the new hire joins the organization. Organizations with full-fledged staffing software integrated into its system perform high-volume hires in the most efficient manner. 

This eventually ensures that the new hires across the various departments are monitored. In recent years, social reach is colossally imperative in the hiring process. The staffing software allows workers to connect to leading social media channels and reach out to a broader array of prospective candidates. 

Global staffing software market overview

As the corporate world continues to evolve, candidate profile screening, hiring, and onboarding trends continue to change over time. Technological disruption influences the hiring industry, and post-pandemic has expedited the dynamism of the hiring industry. 

The staffing software offers a number of advantages for the hiring process, such as

• Improved efficiency and productivity

• Employee experience|morale

• Employee development|retention

• Cost savings

• Minimized errors

• Regulatory compliance

• Attendance monitoring

• Streamlines administrative works

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Solutions to the growing HR challenges in the real estate industry in India

According to a survey report by IBEF (Indian Brand Equity Foundation), in India, the real estate sector is the second-highest employment generator after agriculture. Real estate market cap in India is most likely to stand at US $1 trillion by 2030, which is quite a long jump from US$ 200 billion in 2021. By 2025, it is expected to contribute 13% to the country's GDP, pushing it up on the global index. 

Human resource endeavours in the real estate sector that require immediate attention -

Attracting and recruiting top talents

While the real estate sector typically has the highest employee turnover, its average turnover in the last couple of years has touched near 28% (as per the survey report by IBEF for 2022).

However, despite this aforementioned employee turnover rate in the real estate industry, some problems still prevail. While real estate companies invest big in recruiting young specialists, they often fail to bridge the gap between the candidate's eligibility and job requirements, eventually leading to poor on-site performance. 

Solution -

Real estate professionals are in dire need of mentorship program to attain motivation, hence encouraging improved on-site performance. Outsourcing your HR functions ensures the employment of skilled, industry-specific candidates who are self-motivated to achieve greater output at work. 

 

Handling Payroll

Real estate sector has always been a different business with multi-structured payment systems within one organization. One has to be fully aware of handling payroll challenges of all renditions and sizes. Whether it be shorted paychecks or wrongly calculated pre-tax deductions, both are major red flags in a real estate company or any other company per se

Solution -

When you outsource your payroll efforts to the best staffing company in India, you ensure that your employees' finances are in good hands. 

Workplace issues

An inhospitable work environment and increased pressure to bring in more sales make real estate agents quit their jobs, causing understaffing in the workplace. 

Solution -

A third-party staffing company in India offers temporary staffing or contract-based recruitment to manage fluctuating workloads. 

Health and Safety issues

Most real estate agents easily agree to work odd hours in order to get buyers into homes and have the properties sold on or before the deadline. Therefore safety becomes a concern.

Solution -

A staffing company in India categorizes the shift timing based on the job applicant’s preferences and concern for their safety. 

Attrition

Like any other business sector, real estate is also prone to employee attrition as companies experiment with new ideas, and a vast majority of existing staff fail to deliver on a job. 

Solution -

Staffing companies provide businesses an opportunity to have a workforce with all the necessary skills, qualifications, and experience mandated to deliver on jobs and also have a downsized overall cost of training staff from scratch to fill the positions. 

Temporary workers

Real estate companies often have to deal with employees taking an extended leave of absence or requirements such as growing a team of agents or hiring resources based on short-term projects. In such circumstances, considering temporary staffing is an ideal decision. 

Solution -

Involve the best staffing company in India with hands-on experience in hiring employees on temporary payroll, however, with agreed-upon remunerations and other employment perks.