Blog Post

10 Fast-Growing Industries Payroll Firms Should Target in 2019

Looking to grow your payroll software and service firm in 2019? To help you develop a targeted approach to client recruitment, consider these 10 industries projecting significant job growth in 2019 and beyond:

  1. Construction – Residential and Commercial: Construction, remodeling and renovation of single-family homes grew nine-percent in 2018 and forecasters expect that growth to accelerate in 2019. Non-residential construction is on the rise as well.
  2. Construction – Civil Engineering: The industry that assures the construction and maintenance of highways, bridges, dams, airports and water supply and sewage treatment systems is projected to grow 11 percent through 2026, according to the US Bureau of Labor Statistics (BLS).
  3. Computer systems design: As businesses increasingly rely on technology, this industry, along with IT infrastructure and software testing, is booming and is projected to see a 15-percent rise in employment through 2022.
  4. Tech and Gaming: Virtual reality is the primary factor in this niche industry’s growth with a projected compounded annual growth rate of nearly 55 percent through 2023. And it’s not limited to Hollywood films and video games. VR increasingly is utilized in education, therapy and training of all sorts, including employment training.
  5. Cannabis: Controversial but profitable – As more states legalize marijuana for both medical and recreational use, revenue is exploding and is forecasted to reach $24 billion by 2020. Amazingly Marijuana production may become the largest employment segment of manufacturing in America within the next two years. Apex has recently signed new payroll service bureau customers solely dedicated to the Cannabis industry.
  6. Renewable energy: The green industry already employs some 2.7 million people in the US and the BLS projects that, over the next decade, jobs for solar panel installers and wind turbine technicians will grow twice as fast as any other occupation.
  7. Drone engineering: Consumer drones have officially gone mainstream and commercial adoption is increasing rapidly, particularly in construction, agriculture, mining, insurance and law enforcement. According to the Federal Aviation Administration, there were 788,570 drones registered in the US in 2016 and that figure is expected to hit 2.4 million over the next year. That means major job growth in drone engineering and manufacturing.
  8. Data and IT security: Industry experts last year predicted that cybercrime would more than triple the number of job openings for data and IT security professionals in the next five years. A projected 3.5 million will be needed by 2021, according to Menlo Park, CA’s Cybersecurity Ventures.
  9. E-commerce: Online shopping represented 49.4 percent of all retail sales growth in 2017, compared to 41.6 percent in 2016. To support the expected continued growth, online retailers like Amazon are opening more fulfillment centers and creating more jobs.
  10. Elder care and healthcare services: The elder care field was projected to add 405,400 jobs between 2014 and 2024. Other aging-related healthcare services providers, including massage therapists, medical assistants and home healthcare are expected to add over a half million new jobs by 2024

Every day Apex HCM clients grow by implementing new payroll and expanded HCM services.  Targeting these hot employment growth sectors will further increase payroll service bureau growth as these industries seek help to manage their payroll and HR processes. Apex HCM provides a full suite of payroll, human resources and time and attendance software solutions to help you better secure and service clients in any industry, including those with complex compliance requirements. Call 877-750-2739 to find out how we can help grow your business in 2019.