Business services are the non-tangible aspects of a company that support its operations, but do not result in the creation of a physical product. This category of work can include consulting, marketing, and communication services, among others. This sector of the economy is vital for companies that do not manufacture or distribute tangible products, and it provides employment opportunities to many people.
Companies that offer business services often provide a number of services in addition to their core offerings. For example, a graphic design firm may also offer print and web production as well as branding and advertising services. Similarly, utility companies offer a variety of services that go beyond traditional power and gas to offer businesses more environmentally friendly options for their energy needs. The business service industry is a broad category that encompasses the entire spectrum of work that supports a company, from human resources to information technology (IT) to financial services.
Most of the work performed in a business services company is commissioned by another business or government entity. This is in contrast to the retail and manufacturing industries, which directly serve consumers. The type of work performed in a business service company can vary widely, from office management to training services, and it can be highly specialized.
Some examples of business services are legal counsel, actuary work, paralegal and secretary duties, interpretation and translation, and security work. The industry also includes a range of support services, including office administration, hiring and placement, logistics, travel arrangement, cleaning, and waste disposal. Some major players in this industry include ADP, Allegis Group, ManpowerGroup, and Adecco (all based in the US) as well as Randstad and TUI Group (both located in Europe).
The majority of workers in business services are employed full-time. In addition to competitive wages, employees in this field often receive a host of other benefits, such as health insurance, life insurance, and retirement savings plans. Some of the most important job skills for a career in business services are communication and teamwork.
The overall employment rate for this field is stable, but there are some trends to watch. For one, the average wage for this industry is rising faster than the overall rate of employment. This could mean that more people are entering the field, or that there is a greater demand for the work being done by this sector of the economy. Regardless, it is a solid and growing career option that should be considered by anyone interested in a future in the workplace.