Recruitment firms are constantly seeking new opportunities to grow their operations and identify skilled candidates for their clients. The US is the largest recruitment market in the world holding a whopping 34% market share. With many industries you can recruit in, choosing the best one for your business can be a challenge in itself.
Here are four booming sectors to recruit for in 2024.
Renewable Energy
Clean energy investment has grown by 40% over the past two years, creating strong demand from leading energy firms to bring on more workers in clean sectors. The International Energy Agency estimated that 30 million new clean energy jobs will be created by 2030.
Moreover, the U.S. is on the brink of a green energy revolution that will impact every segment of the economy. In 2022, the Inflation Reduction Act announced that it will aim to cut U.S. greenhouse gas emissions to 40% below peak levels by 2030, putting the nation on track to meet its Paris Agreement commitment of reaching 50-52% below 2005 levels by 2030. In the process, the act also promises to create well-paying jobs as part of building a clean energy economy.
Technology and IT
The technology sector is poised to remain a focal point for recruitment companies in the coming years due to its sustained growth and ever-evolving landscape. With advancements in areas such as artificial intelligence, cloud computing, and cybersecurity, the demand for highly skilled professionals in these domains is expected to remain strong. The AI software market’s global annual revenue alone is projected to reach $94.41 billion in 2024, resulting in ample business opportunities for recruitment firms.
Life Sciences
According to the 2023 Life Sciences Workforce Trends Report, the U.S. life sciences industry continues to hire at a rapid pace, fueling an ongoing intense competition for talent over the last two years, with significant implications for corporate costs, recruitment and hiring. Recruitment businesses can play a substantial role in keeping some of these costs at bay by addressing the hiring challenges in the sector.
Legal Services
The US Bureau of Labor Statistics states that overall employment in legal occupations is projected to grow faster than the average for all occupations from 2022 to 2032. About 91,700 openings are projected each year.
This growth can be attributed to various factors, including the evolving legal landscape, state vs federal law complexities and the expanding legal needs of businesses and individuals. As a result, demand for talent goes up and with this the potential for recruitment agencies to win new business.
Have you found your niche yet? Getting started in the US recruitment market doesn’t need to be difficult. Working with a trusted employer of record (EOR) is a great place to start– book a call today.