Elwood Staffing Services, Inc. Market Research Report

Background

Founded in 1980 by Dr. David L. Elwood, Elwood Staffing Services, Inc. is a privately held corporation headquartered in Columbus, Indiana. The company specializes in providing comprehensive staffing solutions, including temporary, temporary-to-hire, contract, and direct placement services across various industries. Elwood Staffing operates through three primary divisions:

• Elwood Staffing: Focuses on administrative, clerical, customer service, manufacturing, production, and warehouse staffing.

• Elwood Professional: Caters to the recruitment and placement of engineering, information technology, and business management professionals.

• Skill Staff: Provides contingent workers for construction and manufacturing trades.

With a mission to deliver talent-based solutions and actionable workforce intelligence, Elwood Staffing supports companies throughout the entire employment lifecycle—from attraction to retention. The company's vision emphasizes creating better opportunities and matches for both clients and job seekers.

Key Strategic Focus

Elwood Staffing's strategic focus centers on expanding its service offerings and geographical footprint to meet the diverse needs of its clients. The company has achieved this through a series of strategic acquisitions, enhancing its presence in key markets:

• 2016: Acquired Berks & Beyond Employment Services, Inc., adding 15 offices in southeastern Pennsylvania.

• 2017: Acquired Swanson Staffing, expanding into Indiana and Florida.

• 2018: Acquired the commercial staffing division of Lyons HR, strengthening its position in Alabama.

• 2023: Acquired IES Custom Staffing Solutions, Advanced Personnel, and NAOS Staffing, enhancing its presence in Idaho, Utah, Kansas, Missouri, and the South.

• 2024: Acquired BelFlex Staffing Network, adding 26 branch locations in 19 new markets throughout the Midwest and Southeast.

These acquisitions have bolstered Elwood Staffing's ability to provide specialized staffing solutions across various sectors, including food production, manufacturing, logistics, customer service, automotive, oil and gas, hospitality, skilled trades, and administrative services.

Financials and Funding

As of early 2022, Elwood Staffing generated approximately $900 million in annual revenue. The company employs nearly 1,000 permanent, full-time employees and operates 195 branches and 80 on-site locations across the United States. In 2020, the company reported revenues of $866.5 million, a slight decrease from $938.8 million in 2019, attributed to the impacts of the COVID-19 pandemic.

Technological Platform and Innovation

Elwood Staffing leverages a diverse technology stack to enhance its service delivery and operational efficiency. The company's technological infrastructure includes:

• Zendesk: For customer support and engagement.

• Microsoft Excel and Outlook: For data analysis and communication.

• Okta: For identity verification and security.

• Ubuntu and C#: For software development and system operations.

• Citrix: For virtualization and remote access solutions.

These technologies enable Elwood Staffing to provide efficient and secure staffing solutions to its clients.

Leadership Team

Elwood Staffing's leadership team comprises experienced professionals dedicated to driving the company's growth and success:

• John A. Elwood: Chief Executive Officer. John has been with the company since 1996 and assumed the role of CEO in 2021.

• Diane Bohman: President. Appointed in 2021, Diane is the first female and non-Elwood family president in the company's history. She previously served as Senior Vice President of MSP Solutions.

• Mark S. Elwood: Chairman of the Board. Mark led the company as President and CEO since 1987 before transitioning to Chairman in 2021.

Competitor Profile

Market Insights and Dynamics

The staffing industry is highly competitive and fragmented, with nearly 20,000 staffing companies operating across the United States. The largest players in the global staffing industry include:

• Randstad Holding: $24.3 billion in revenue.

• ManpowerGroup: $20.3 billion in revenue.

Elwood Staffing ranks among the top staffing firms in the U.S., recognized as the 8th largest industrial staffing firm and the 30th largest overall staffing firm in 2024.

Competitor Analysis

Key competitors in the staffing industry include:

• Aerotek: A leading provider of technical, professional, and industrial staffing services.

• Kelly Services: Offers workforce solutions across various industries, including education, engineering, and IT.

• Robert Half: Specializes in accounting, finance, and IT staffing.

• ManpowerGroup: Provides workforce solutions and services across multiple sectors.

• Randstad: Offers staffing and HR services globally.

These competitors have established significant market presence and offer a range of staffing solutions similar to those of Elwood Staffing.