Labour supply refers to the provision of human resources or workforce by individuals or organisations to meet the demand for labour in various industries and sectors. It involves the recruitment, hiring, and deployment of individuals with specific skills, qualifications, and expertise to fulfil job roles and responsibilities. Labour supply encompasses activities such as sourcing candidates, conducting interviews, negotiating contracts, managing employment relationships, and ensuring a sufficient and suitable workforce is available to support the operational needs and growth of businesses.
The business activities that fall under Labour Supply are:
Employment placement agencies (7810.00)
Also known as employment agencies or staffing agencies, these are businesses that specialise in connecting job seekers with suitable employment opportunities. These agencies list job vacancies provided by client companies and refer or place applicants for those positions. It is important to note that the individuals referred or placed through these agencies are not considered employees of the agencies themselves. Employment placement agencies engage in various activities, including searching for suitable candidates, conducting applicant selection processes, and referring qualified individuals to client companies. This class of business activity encompasses a wide range of placement services, including executive placement, casting agencies for theatrical roles, and online employment placement agencies. However, it does not include the activities of personal theatrical or artistic agents or agencies, which are distinct from employment placement agencies.
It directly contributes to the provision of human resources and workforce in the labour market. These agencies play a vital role in connecting job seekers with job opportunities and meeting the demand for labour from various industries and sectors.
- Third-party Approval: No third-party approvals are required for this business activity
- Filing of Economic Substance Return: Business activity 7810.00 is exempt from this requirement.
- Anti-Money Laundering Compliance: Business activity 7810.00 is exempt from this requirement.
Personnel search, selection referral and placement activities (7810.01)
This refers to the process of sourcing, screening, and referring qualified candidates for employment positions. This includes conducting searches for potential candidates, evaluating their skills and qualifications, and referring them to client companies for potential placement. This activity falls within the realm of labour supply because it directly contributes to the availability and allocation of human resources in the labour market. By actively searching for and selecting suitable candidates, these businesses play a crucial role in matching job seekers with employment opportunities.
- Third-party Approval: No third-party approvals are required for this business activity
- Filing of Economic Substance Return: Business activity 7810.01 is exempt from this requirement.
- Anti-Money Laundering Compliance: Business activity 7810.01 is exempt from this requirement.
Temporary employment agency activities (7820.00)
This involves supplying workers to client businesses for limited periods of time. These workers are provided by temporary help service units and are employed by these units, not the client businesses themselves. The purpose of this activity is to temporarily replace or supplement the existing workforce of the client businesses. It is important to note that the temporary employment agencies do not provide direct supervision of the workers at the client’s work sites. Instead, they act as intermediaries, sourcing and providing temporary workers to meet the short-term staffing needs of client businesses. This business activity falls within the realm of labour supply as it contributes to the flexible allocation of human resources, allowing client businesses to address fluctuations in their workforce requirements without the long-term commitment of hiring permanent employees.
- Third-party Approval: No third-party approvals are required for this business activity
- Filing of Economic Substance Return: Business activity 7820.00 is exempt from this requirement.
- Anti-Money Laundering Compliance: Business activity 7820.00 is exempt from this requirement.
Supplying workers to clients’ businesses for limited periods of time (7820.01)
This refers to the practice of providing temporary workers to client companies to fulfil their staffing needs on a temporary basis. In this arrangement, the workers are employed by a staffing agency or temporary employment agency rather than being direct employees of the client businesses. The workers are sourced, screened, and selected by the agency to meet the specific requirements of the client businesses, such as filling in for absent employees, addressing seasonal demands, or assisting with short-term projects.
- Third-party Approval: No third-party approvals are required for this business activity
- Filing of Economic Substance Return: Business activity 7820.01 is exempt from this requirement.
- Anti-Money Laundering Compliance: Business activity 7820.01 is exempt from this requirement.
Other human resources provision (7830.00)
This refers to the provision of human resources services to client businesses on a long-term or permanent basis. Companies engaged in this activity offer a wide range of human resource and personnel management duties associated with the provision of human resources. These services may include recruiting, hiring, onboarding, payroll management, tax compliance, benefits administration, and other related responsibilities. The units classified under this activity act as the employer of record for the employees they provide to client businesses, handling matters related to payroll, taxes, and other fiscal and human resource issues. However, they are not responsible for directly supervising or managing the employees on a day-to-day basis.
This business activity is distinct from the provision of human resources functions that involve both supervision and running of the business. It also excludes the provision of temporary human resources to replace or supplement the workforce of the client, which falls under different classifications. By offering long-term or permanent human resource services, companies engaged in this activity contribute to the availability and allocation of labour in the market.
- Third-party Approval: No third-party approvals are required for this business activity
- Filing of Economic Substance Return: Business activity 7830.00 is exempt from this requirement.
- Anti-Money Laundering Compliance: Business activity 7830.00 is exempt from this requirement.
Provision of human resources for client businesses on a long-term or permanent basis (7830.01)
This involves specialised service providers supplying companies with the necessary personnel to meet their ongoing staffing needs. These providers handle tasks like sourcing, screening, and hiring employees, as well as managing payroll and compliance. By offering this service, they support client businesses in securing qualified and reliable workforce for their long-term operations and growth. This activity contributes to labour supply by facilitating the matching process between job seekers and employers and ensuring a consistent supply of human resources for client organisations.
This provision of human resources is usually long-term or permanent, involving units that perform various personnel management duties for client businesses.
- Third-party Approval: No third-party approvals are required for this business activity
- Filing of Economic Substance Return: Business activity 7830.01 is exempt from this requirement.
- Anti-Money Laundering Compliance: Business activity 7830.01 must meet this requirement.
