Staffing Industry Analysts, an independent global advisor on contingent work, recently released its annual list of largest U.S. staffing firms, which included 122 staffing firms with revenue more than $100 million. According to the American Staffing Association, there are approximately 17,000 staffing and recruiting companies in the nation, meaning businesses that appeared on the Staffing Industry list are the top .7% of revenue earners in the overall staffing industry.
For the first year, Penmac Staffing Services, with headquarters in Springfield, MO, appeared on the list of the nation’s largest staffing firms. Penmac was among 13 firms that qualified for this year’s report that were not on the 2014 list. In January of this year, Penmac announced it exceeded $100 million in annual revenue for the first time in company history, with 2014 revenue totaling $111 million. Today, Penmac is one of only a handful of privately held staffing companies in the U.S. with sales over $100 million. According to the National Center for Employee Ownership, Penmac Staffing is the largest employee-owned staffing company, and sixth largest American ESOP, based on employee numbers.
Appearing on the Staffing Industry Analysts’ Largest U.S. Staffing Firms lists was one of Penmac Founder Patti Penny’s first goals when she started the business in 1988. Penmac CEO Tim Massey said of the announcement, “Our ranking on this list is a very visible milestone in our industry. Our mission of ‘We Place People First’ has been the fuel to propel us to this record, and that one simple mission will continue to be the basis for future growth.” Penmac Staffing, which is now in its 27th year, has 30 branches in nine states, and serves more than 900 business clients.
The staffing agencies on this year’s report together made up 55.9% share of the market, producing $69.4 billion of U.S. staffing revenue. For Staffing Industry Analysts Daily News, Staffing Industry Analyst president Barry Asin, noted, “The $69 billion in staffing revenue generated by these firms underscores the health of the staffing industry, and provides bottom-up evidence that supports our belief that the overall industry continues to grow at a rate significantly faster than the overall economy.”
For more information about Penmac Staffing, visit http://www.penmac.com.