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Global Daily News

  • Uber revenue up 38% but losses widen in third quarter

    Uber Technologies Inc. on Wednesday released financials that show revenue growth slowed and the human cloud firm’s loss exceeded $1 billion in the third quarter. The ride-sharing company also announced a new rewards program following a similar move by its competitor, Lyft.Revenue growth of 38% in the third quarter was almost half of what the growth rate was six months earlier, Bloomberg and other media outlets reported. The San Francisco-based company lost $1.07 billion in the quarter ended Sept. 30, an improvement from a year ago but 20% larger than the second quarter.Gross bookings — the total amount Uber takes in without subtracting driver fees and other costs — increased 6% quarter over quarter and 34% year over year at $12.7 billion.TechCrunch reported Uber’s net losses increased 32% quarter over quarter to $939 million on a pro forma basis, but Uber expected these losses as it continues to invest in future growth areas.“As we look ahead to an IPO and beyond, we are investing in future growth across our platform, including in food, freight, electric bikes and scooters, and high-potential markets in India and the Middle East where we continue to solidify our leadership position,” Uber CFO Nelson Chai wrote in a statement.Uber also provided insight into it food delivery business for the first time.Uber Eats generated $2.1 billion in gross bookings, which represents 17% of Uber’s $12.7 billion in gross bookings last quarter and is growing more than 150% year over year. Uber recently told TechCrunch it intends to expand Eats to cover 70% of the US population by the end of this year.Uber’s reward program, announced separately yesterday, allows participants to earn points based on the services they use. Among other incentives, rewards include $5 added to their Uber Cash balance for every 500 points earned, which can be spent on both rides and Uber Eats. Uber Rewards will initially launch in nine cities, and expand nationwide in the next few months.The move follows the launch of Lyft’s reward program on Nov. 12. Riders in its program also earn points for each dollar spent for rewards such as upgrades to Lyft Lux or savings on future rides. […]

  • Calian’s revenue up 9% in fiscal Q4 on growth in business and technology division

    Calian Group Ltd. (TSX: CGY) reported revenue rose 8.9% in its fiscal fourth quarter ended Sept. 30. Revenue growth came in the company’s business segment that includes staffing. (C$ thousands) Q4 2018 Q4 2017 % change   Q4 2018 (USD $000s) Revenue $78,727 $72,321 8.9% — $60,948 Gross profit $15,287 $14,209 7.6%   $11,835 Gross margin percentage 19.4% 19.6%       Net profit for the period $4,271 $4,327 -1.3% — $3,306 The Ottawa-based firm reports revenue in two segments: “Business and technology services” and “systems engineering.”Revenue rose 19.4% in the business and technology services segment, which includes staffing and other services. The gain offset a 14.4% decrease in Calian’s systems engineering segment, which includes engineering services. Revenue by segment (C$ thousands) Q4 2018 Q4 2017 % change   Q4 2018 (USD $000s) Business and technology services $59,423 $49,777 19.4% — $46,004 Systems engineering $19,304 $22,544 -14.4% — $14,945 Full fiscal-year results (C$ thousands) FY 2018 FY 2017 % growth   FY 2018 (USD $000s) Revenue $304,958 $275,423 10.7% — $236,089 Gross profit $59,692 $52,904 12.8%   $46,212 Gross margin percentage 19.6% 19.2%       Net profit for the period $16,077 $15,390 4.5% — $12,446 Calian last month reported that Kevin Ford resumed full duties as president and CEO following a temporary health setback. Ford in April suffered a cardiovascular event over the Easter weekend.  Quote“With a contracted backlog of over C$1 billion, positive cash flows and a strong balance sheet, Calian is uniquely positioned to leverage a strong financial position for continued investment in both organic and acquisitive growth,” Ford said. GuidanceCalian expects revenue for fiscal 2019 to be in the range of C$330 million to C$360 million. Share price and market capCalian shares were up 0.42% to C$28.92 at 12:40 p.m. Eastern time; the company had a market cap of C$223.63 million, according to FT.com […]

  • Tech employment dips in October: TechServe Alliance

    IT employment decreased in October from September after years of continuous month-over-month growth, the TechServe Alliance announced. The number of IT jobs in the US edged down 0.02% to a total of approximately 5.34 million, according to the group, which serves as the national trade association of the IT and engineering staffing and solution industry.“Following the continuous deceleration of the rate of growth throughout 2018, IT employment actually declined in October,” said TechServe Alliance CEO Mark Roberts. “We are entering a new era where supply is insufficient to support demand inhibiting growth. The current administration’s restrictive immigration policies only accelerate this trend.”However, on a year-over-year basis, IT employment was still up by 0.35% in October with 18,400 more IT workers than the previous year.The TechServe Alliance also measures engineering employment, which edged up by 0.23% in October from September. Engineering employment rose 2.39% on a year-over-year basis, an increase of 61,000 engineering workers. […]

  • US executives optimistic for 2019, talent acquisition top serious concern

    Executives are optimistic about their businesses growth in 2019 but concerned about a shortage of available talent, according to the Employer Associations of America’s 2018 National Business Trends Survey.Nearly 74% of executive surveyed described their projected 2019 business outlook as a slight to significant increase in sales/revenue. And more than half, 54%, reported they plan to hire permanent staff in 2019, with 72% hiring to fill newly created jobs.Survey respondents’ top-five serious concerns within the next year include: Talent acquisition: 54% Talent retention: 41% Ability to pay for benefit costs: 28% Ability to pay competitive wages: 33% Competition in general: 28% Looking longer-term, the executives cited the following as their top serious concerns within the next five years: Talent acquisition: 57% Talent retention: 48% Ability to pay for benefit costs: 43% Ability to pay competitive wages: 40% Competition in general: 34% Respondents identified adjusting pay ranges upward, focusing on existing staff receiving additional training and development, and increasing starting salaries as the top strategies to overcome recruitment and retention challenges.The 2018 survey included 1,295 participating organizations throughout the US. […]

  • Canada drops 23,000 jobs in October as hiring slows ‘significantly’: ADP

    Employment in Canada fell by 23,000 jobs in October from September, according to the ADP Canada National Employment Report. However, job gains in September were revised upward to 66,900 jobs from the previously reported gain of 28,800 jobs.“Hiring slowed significantly this month,” said Ahu Yildirmaz, VP and co-head of the ADP Research Institute. “Despite steep declines in trade, natural resources and mining, and leisure and hospitality, we did see some solid growth in education and healthcare, manufacturing, and professional services.”In the goods-producing sector, jobs fell by 4,700 in natural resources and mining and by 1,800 in construction; jobs in manufacturing rose by 3,000.Jobs in trade/transportation and utilities, which led losses in the service-providing sector, were down by 14,700 jobs, followed by losses of 3,800 jobs in leisure and hospitality and 3,400 jobs in information.On the flip side, administrative and support jobs increased by 4,200 and education and healthcare jobs rose by 3,700.The ADP Research Institute produces the report in close collaboration with Moody’s Analytics Inc. Derived from actual ADP payroll data, the report measures the change in total nonfarm payroll employment each month on a seasonally adjusted basis. […]

  • UK - Parliament debates EU withdrawal terms

    As British Prime Minister, Theresa May puts forward her draft Brext deal to a rancorous House of Commons this morning, there seems little prospect of any dramatic labour market reforms should the deal proceed in its draft form, with much still remaining uncertain.The Withdrawal Agreement seeks to maintain rules regarding many aspects of business relationship during the Transition Period, up to 31 December 2020. In most respects, the draft agreement indicates an acceptance of the status quo with the UK continuing to comply with EU standards.With key ministers, including the Brexit Secretary resigning ahead of the presentation of the agreement to Parliament, most commentators believe Prime Minister May will struggle to win approval for the draft bill. However, without an agreement on this document, businesses should be concerned about the following issues as the timetable moves towards the UK’s exit from the European Union on 29 March 2019:•     Rights of entry for work and travel•     Rights of workers in the EU and UK•     Recognition of professional qualifications and the right to carry on recognised professions•     Enforcement of contractual provisions and judgements•     Public procurement rules and the validity of framework agreements. […]

  • UK – Addison Lee loses appeal in gig economy case as court rules drivers are employees

    Taxi and courier firm Addison Lee lost its appeal yesterday against a claim that its drivers are workers and not self-employed.The Employment Appeal Tribunal (EAT) upheld a decision last year which found that Addison Lee drivers were workers and are entitled to workers’ rights such as minimum wage and holiday pay.The decision will affect thousands of drivers and follows similar landmark employment rulings involving gig economy firms Uber and Hermes.According to the BBC, the EAT explained its ruling and said that it had rejected Addison Lee's arguments that the drivers were self-employed contractors running their own businesses and confirmed that the "unrealistic terms and conditions" that drivers had to sign up to did not reflect the true nature of their relationship with the company.Sue Harris, Legal Director of trade union GMB, which brought the case, commented, “This is another huge win for GMB over bogus self-employment. Once again the courts have agreed Addison Lee drivers are legally entitled to workers’ rights such as the national minimum wage and holiday pay rights.”Liana Wood, solicitor at Leigh Day who represents the drivers on behalf of GMB, also commented, “It is clear that Addison Lee’s business model of providing a fleet of highly trained, regulated drivers is incompatible with their arguments that drivers are not workers who are entitled to workers’ fundamental rights. “We hope that Addison Lee will accept this decision; drivers shouldn’t have to continue to work very long hours, often in excess of 60 hours per week, to earn just enough to meet their basic living costs,” Wood said.Michaell Lange, one of the drivers who have brought claims against Addison Lee, said, “We decided to bring this claim in 2016 because we wanted Addison Lee to treat drivers fairly; we are happy that the decision that we were workers for Addison Lee has been upheld. We now urge Addison Lee to do the decent thing and stop denying its workforce of over 4000 drivers their rights.”Addison Lee has the right to appeal against the ruling at the Court of Appeal.In a statement, Addison Lee said, “We note the appeal verdict, which we will carefully review. Addison Lee is disappointed with the ruling as we enjoy a positive relationship with the vast majority of our 3,800 driver partners.”“In common with most of the industry, the majority are self-employed. With earnings at a record high, over 60 per cent said they were likely or very likely to recommend working for Addison Lee in our most recent driver satisfaction survey,” Addison Lee stated. […]

  • World – Global Power 150 — Women in Staffing list is online

    The 2018 Global Power 150 is now online, a list of the 150 most influential women in staffing.“Around the globe the fight to increase female representation continues as women are outnumbered in leadership positions, boardrooms and the upper echelons of business. While women dominate the staffing industry at branch-level, this is not reflected in our C-suites,” Subadhra Sriram, editor & publisher, media products at Staffing Industry Analysts, said. “It continues to be essential that we recognise female leadership and call out the immensely important roles these women play in developing, driving and delivering solutions, work models and value for the industry. It is exciting to see the list grow this year to include more of the executives who are making things happen across the workforce solutions ecosystem.”This is the fourth year that Staffing Industry Analysts has produced a Women in Staffing list.. The women are also featured in the November/December print edition of Staffing Industry Review magazine.The list is sponsored by Bullhorn. Read about the 2018 Global Power 150 — Women in Staffing online here. […]

  • Italy – Burning Glass Technologies acquires Milan-based labour market analytics firm Tabulaex

    Burning Glass Technologies, a provider of real-time labor market data products and analysis, announced that it has acquired Tabulaex, a labour market analytics firm based in Milan, Italy, for an undisclosed sum.Founded in 1999, Burning Glass, which has offices across Australia, Canada, New Zealand, Singapore, the United Kingdom, and the United States, said the acquisition strengthens the group as a global provider of labour analysis software products.Matt Sigelman, CEO of Burning Glass Technologies commented on the acquisition of Tabulaex, “The organisations have complementary strengths, a common culture of robust data science, and a strong commitment to developing data and solutions that address the gamut of societal and commercial problems that stem from inefficiencies in the labour market.”Alberto Daprà, Managing Director of Tabulaex, also commented, “We believe that the collaboration with Burning Glass Technologies is a great opportunity to strengthen Tabulaex’s ability to design and implement innovative products and services for the analysis of the labour market for the full satisfaction of its customers,”Tabulaex was founded in 2005 by University of Milano-Bicocca professor Mario Mezzanzanica, and serves clients in continental Europe. The company will remain an Italian entity staffed by its current team and Burning Glass has reaffirmed its commitment both to building Milan as one of its global data and development centres and to its partnership with the University of Milano-Bicocca’s CRISP research center. Sigelman will take on the role of Tabulaex’s Chairman while Daprà will serve as its Managing Director. All existing Tabulaex project commitments and staffing will continue without change. […]

  • South Korea – Number of temporary employees falls 2.7% in October, unemployment up slightly

    The number of temporary employees in South Korea fell to 4.90 million in October 2018, a decrease of 2.7% when compared to 5.04 million in the same period last year, according to figures from Statistics Korea.Data from Statistics Korea also found that, in October, the unemployment rate stood at 3.5%, up 0.3% year-on-year. The number of unemployed persons totalled 973,000 people in October, an increase of 79,000, or 8.9%, over the year.According to Pulse News, the 3.5% unemployment figure is the highest in October in 13 years.The number of employed persons totalled 27.00 million in October, which was an increase of 64,000, or 0.2% year-on-year.Meanwhile, the labour force participation rate stood at 63.4% in September, remaining the same year-on-year. […]

  • India – Hiring set to fall 3% in the half year to March 2019, TeamLease finds

    The overall hiring sentiment in India for the six-month period (H2) from October to March 2019 declined by 3% to 92%, according to the latest Employment Outlook from Indian staffing firm TeamLease.The 92% outlook is a decline from the previous six-months period’s 95% outlook.The TeamLease Employment Outlook Report surveyed 750 employers and 2,500 employees of small, medium and large companies across 19 sectors and 14 cities to understand the hiring sentiment in the country.The report found that 8 out of 19 sectors surveyed reported an increase in the Net Employment Outlook, seven other sectors reported a decrease in their outlook, while one sector reports no change for the October-March 2018-19 period.The biggest decreases were seen in the construction and real estate sectors at -3% as well as retail and telecommunications which also posted a 3% decrease.Meanwhile, the power and energy sector reported a 4% increase in hiring sentiment for the H1 period. The financial services, media and entertainment, and educational services followed with an increase of 3% each, and health care and pharma, e-commerce and tech start-ups, manufacturing, engineering and infrastructure, and travel and hospitality saw an increase of 2%.Hiring for mid-level employees increased by 3%, however entry-level hiring sentiment fell by 5% and junior and senior level hiring sentiment also fell by 3% and 4%, respectively. […]

  • Australia – Jobless rate falls 0.5% in October

    Australia’s seasonally-adjusted jobless rate in fell to 5.0% in October, down 0.5% when compared to the same period last year, according to data from the Australian Bureau of Statistics.The data from ABS showed that the number of unemployed persons in Australia in October stood at 665,700, this is down 4.9% compared to the previous year.According to the Markets Insider, the 5.0% seasonally adjusted unemployment rate was below market expectations of 5.1%.At the same time, the number of employed persons stood at 12.63 million in October, an increase of 2.5% when compared to the same period last year.The seasonally adjusted labour force participation rate increased by 0.3% in October to 65.5%. […]

  • Singapore – HRnetGroup revenue up 7.7% while net profit surges

    Singapore-based recruitment firm, HRnetGroup, reported third-quarter revenue last week of SGD 105 million (USD 76.5 million), up 7.7% compared to the same period last year. (SGD millions) Q3 2018 Q3 2017 Change Q3 2018 (USD millions) Revenue 105.0 97.5 7.7% 76.5 Gross Profit 39.9 34.4 16.0% 29.0 Net Profit After Tax 13.6 11.0 23.6% 9.9 Revenue growth during the third quarter was led by the IT and Communications sector which grew by 18%.Professional Recruitment made up 69% of group gross profit with Flexible Staffing making up 30% and the Other segment at 1%.During the third quarter ended 30 September 2018, HRnetGroup disclosed that it owns a 2% stake in Harvey Nash, the UK-based professional staffing firm. The group had originally acquired this shareholding interest in Harvey Nash as an investment in furtherance of its strategy to opportunistically enter new markets in the human resources space. In August, Harvey Nash agreed to an acquisition offer from The Power of Talent Ltd (Bidco) an entity owned and controlled by investment funds managed by DBAY Advisors Limited.In trading last week, HRnetGroup shares closed at SGD 0.80 (USD 0.58), down 1.23% on the day. Based on its current share price the company has a market value of SGD 809.65 million (USD 647.7 million). […]

Latest Research

  • SI Report Webinar - November 2018

    Sponsored by TextRecruit In this webinar topics covered include:Benchmark temporary worker benefits Trends in temporary worker training Industry revenue estimates by customer characteristics 2018 Staffing Firm Lists: Annual aggregation of lists and review US Gig Economy: Latest size estimate and what it means Legal and Regulatory Update: What you need to know about new legal developments US Statutory Expense Tool: Detailed data on demand And of course the latest updates on the state of the economy, employment trends and developments in the US staffing industry.Download presentation slides 181113 SI Report Webinar Presentation Slides - You do not have permission to view this object. Select the play button to begin viewing. […]

  • VMS Market Developments Part 2

    Executive SummaryIn 2017, the contingent workforce Vendor Management System (VMS) market represented $154 billion of spend under management, an 11% from the prior year. Although growth continues to decelerate, it is still in the double digits, evidence of the appetite for managing contingent workforce programs through a VMS. North America continues to dominate the market with a 66% share, still growing robustly at 10%. EMEA is growing at 14% as it has more untapped terrain in terms of penetration of the staffing and SOW market. The APAC market is growing the fastest of the three regions at 15%, but the growth is from a low base, and it continues to experience challenges in gaining traction in several markets.There is considerable room in the SOW market for more penetration of VMS, and while some providers are reporting 30%+ growth in SOW (and over large numbers), the robust growth is not universal among participants; for some, growth was less than that of temp/contract. Anecdotally, many enterprise buyers continue to struggle to clearly define the role of VMS in managing SOW versus traditional procurement software suites such as Ariba or Coupa.Nearly one third of programs cover three or more regions as vendors continue to roll out capability to new countries, driven by customers that want to gain visibility and centralize control of workers globally.A large share of the market (75%) is represented by client organizations of more than 10,000 employees (FTE), although buyers across all sizes of organizations are represented.As in previous years, the prevalent pricing method is percentage of spend through the program, typically funded by the supplier. However, Europe has a higher adoption of client funded programs due to a number of factors, which include nascent adoption of MSP models leading to supplier resistance in paying the incremental cost versus unproved value. Also, European staffing suppliers often have lower gross margins than most staffing suppliers in North America, making fee absorption a difficult proposition and hindering adoption.The three largest providers globally, each with spend under management above $10 billion, are Beeline, DCR Workforce and SAP Fieldglass. While there are providers that are focused on a given country (US, France, the Netherlands), the majority of providers in our study service multiple regions. VMS providers typically support a wide range of industries, apart from those that are focused on the healthcare market.The full report can be downloaded by clicking the link below: VMS Market Developments - Part 2 20181111 - You do not have permission to view this object. […]

  • Merger and Acquisition Funders and Advisors Directory

    This directory provides full records for over 26 companies operating in the M&A space around the world. Some firms provide services in just one market while others provide international and cross border M&A advice and services in up to 40+ countries. They are listed in alphabetical order, and an index is provided at the rear of this document. An additional 115+ firms who have been identified as providing M&A services are also shown. We have tried to make this report as exhaustive as possible, but if there are additional companies you believe should be listed, or if you would like to contribute a “full” entry within this directory, please contact the author. Please note that the information included herein is self-reported and then edited for consistency sake by SIA. If pronouns such as we are used these have been left as they are. We cannot vouch for the accuracy of each record, nor should inclusion in this directory be taken to imply any endorsement of the companies’ services. This copy of the report has been completed in November 2018. If you have any corrections or changes, please contact author listed on the right. To download the full report, please click below: M&A Funders and Advisors 20181112 - You do not have permission to view this object. […]

  • US Jobs Report: November 2018

    Event- On a seasonally adjusted basis, total nonfarm employment rose by 250,000 in October, according to the US Bureau of Labor Statistics (BLS) in its monthly jobs report. The gain of 250,000 exceeds the median projection of 200,000 jobs from the Bloomberg survey. Temporary help services employment rose by 0.1% from the prior month, adding 3,300 jobs, and the temporary penetration rate remained roughly flat at 2.04%. The national unemployment rate remained at 3.7%.Background and Analysis- On a year-over-year (y/y) basis (October 2018 over October 2017), total nonfarm employment was up 1.7%, and monthly job gains have averaged approximately 210,000 over the past 12 months. Temporary help employment was up 2.2% y/y, with monthly job gains averaging approximately 5,500 over the past 12 months.Of the 15 major industry groups, the three that most drove total nonfarm employment growth in October (on a seasonally adjusted basis) include healthcare and social assistance (+46,700), leisure and hospitality (+42,000), and manufacturing (+32,000). Gains were broad across industries, as there was only one decliner, education (-2,500). On a year-over-year basis, natural resources/mining continued to lead all industry groups in terms of percentage growth, with 9.4%, once again followed by construction and transportation/warehousing, with 4.7% and 3.5% growth, respectively. Information was the one decliner on a y/y basis, down 0.5%.Wages appear to be gaining traction at last, with y/y growth in average hourly earnings accelerating to 3.1% in October.BLS Revisions- The change in total nonfarm payroll employment for September was revised from +134,000 to +118,000, and the change for August was revised from +270,000 to +286,000. With these revisions, total nonfarm employment gains during the two-month period were unchanged.The change in temporary help services employment for September was revised from +10,600 to +7,600, and the change for August was revised from +12,400 to +10,800. With these revisions, temporary help employment growth was less than previously reported by 4,600 jobs.Staffing Industry Analysts’ Perspective- Regarding total nonfarm employment, this was a favorable jobs report. Even if you take the average of the last two months (to account for the recovery from the impact of Hurricane Florence in the prior month), the employment gain is a moderate 184,000. Moreover, wage growth, the one area that had not been as strong for so many years in this expansion period, appears to be gaining traction at last.Temporary help employment growth, however, has become increasingly mild, with the temporary penetration rate remaining roughly flat throughout most of this year. Temporary staffing may be reaching a plateau, which would be normal if we are approaching the tail end of an expansion in the business cycle.Members may download our jobs report tool by selecting the link below. Monthly Employment Situation November 2018 - You do not have permission to view this object. […]

  • The Structure of the UK Staffing Market

    Key Findings There were 28,220 staffing firms in the UK in March 2018 compared with 25,775 in March 2017, a rise of 2,445 (+9%). This figure is broken down between 16,650 employment placement and 11,570 temporary employment agencies. The vast majority of companies (81%) had revenues of less than £1 million, although 165 firms in the UK had revenue of more than £50 million. The Greater London region accounted for the largest number of businesses in March 2018, with 34% of the UK total. The region with the next largest share of businesses was the South East at 16% (see pages 6 and 7). By city or town, London is also largest by far with 9,465 enterprises. Ten London boroughs account for 67% of all these firms. In 2018, the vast majority of staffing companies (80%)  were micro business employing between 1-9 people; while 480 firms employed over 250 staff. The market is split by legal status between companies (81%), sole proprietors and partnerships (9%) and public sector and non-profit making bodies. To download the full report, please click below: UK Structure 20181113 - You do not have permission to view this object. […]

  • VMS Market Developments Part 2

    In 2017, the contingent workforce Vendor Management System (VMS) market represented $154 billion of spend under management, an 11% from the prior year. Although growth continues to decelerate, it is still in the double digits, evidence of the appetite for managing contingent workforce programs through a VMS. North America continues to dominate the market with a 66% share, still growing robustly at 10%. EMEA is growing at 14% as it has more untapped terrain in terms of penetration of the staffing and SOW market. The APAC market is growing the fastest of the three regions at 15%, but the growth is from a low base, and it continues to experience challenges in gaining traction in several markets.There is considerable room in the SOW market for more penetration of VMS, and while some providers are reporting 30%+ growth in SOW (and over large numbers), the robust growth is not universal among participants; for some, growth was less than that of temp/contract. Anecdotally, many enterprise buyers continue to struggle to clearly define the role of VMS in managing SOW versus traditional procurement software suites such as Ariba or Coupa.Nearly one third of programs cover three or more regions as vendors continue to roll out capability to new countries, driven by customers that want to gain visibility and centralize control of workers globally.A large share of the market (75%) is represented by client organizations of more than 10,000 employees (FTE), although buyers across all sizes of organizations are represented.As in previous years, the prevalent pricing method is percentage of spend through the program, typically funded by the supplier. However, Europe has a higher adoption of client funded programs due to a number of factors, which include nascent adoption of MSP models leading to supplier resistance in paying the incremental cost versus unproved value. Also, European staffing suppliers often have lower gross margins than most staffing suppliers in North America, making fee absorption a difficult proposition and hindering adoption.The three largest providers globally, each with spend under management above $10 billion, are Beeline, DCR Workforce and SAP Fieldglass. While there are providers that are focused on a given country (US, France, the Netherlands), the majority of providers in our study service multiple regions. VMS providers typically support a wide range of industries, apart from those that are focused on the healthcare market.The full report can be downloaded by clicking the link below: VMS Market Developments - Part 2 20181111 - You do not have permission to view this object. […]

  • Merger and Acquisition Funders and Advisors Directory

    This directory provides full records for over 26 companies operating in the M&A space around the world. Some firms provide services in just one market while others provide international and cross border M&A advice and services in up to 40+ countries. They are listed in alphabetical order, and an index is provided at the rear of this document. An additional 115+ firms who have been identified as providing M&A services are also shown. We have tried to make this report as exhaustive as possible, but if there are additional companies you believe should be listed, or if you would like to contribute a “full” entry within this directory, please contact the author. Please note that the information included herein is self-reported and then edited for consistency sake by SIA. If pronouns such as we are used these have been left as they are. We cannot vouch for the accuracy of each record, nor should inclusion in this directory be taken to imply any endorsement of the companies’ services. This copy of the report has been completed in November 2018. If you have any corrections or changes, please contact author listed on the right. To download the full report, please click below: M&A Funders and Advisors 20181112 - You do not have permission to view this object. […]

  • Largest healthcare staffing firms in the UK

    The Healthcare staffing market in the UK was worth £2.3 billion in 2017. The 30 largest staffing firms operating in the UK healthcare segment accounted for 88% of total sales in 2017. The aggregated revenue of the Top 30 fell by 7% in 2017, while the whole of the UK healthcare staffing market declined by 18%. NHS rate caps and the implementation of IR35 rules created a challenging business environment for staffing companies. As a result, the supplier consolidation has increased markedly, as companies with the financial strength to acquire competitors gained market share. An overview of the UK healthcare staffing market can be found on page 3. The full list of the Top 30 firms is displayed on pages 5-6, ranked by market share. The fastest growing firms are highlighted on page 7. Company websites, country HQ and types of roles filled are presented in the tables on pages 8-9. We have ranked companies by revenue, according to industry custom, but this ranking should not be taken to imply that a firm with a higher rank provides better service or more value to its shareholders. Staffing firms varied in degree of financial transparency, and even when forthcoming with information, in some cases data provided was adjusted for greater accuracy and consistency. Therefore, for all firms in this report, revenue shown should be considered an estimation by Staffing Industry Analysts. To download a copy of the report, click below: Largest Healthcare staffing Firms in the UK 20181102 - You do not have permission to view this object. […]

  • APAC Financial Results Q218

    Key Findings Revenue in the 41 publicly traded staffing firms in the Asia Pacific region rose by a median of 11.1% during 2Q18, compared to the same period in 2017. Among the companies included in this report, eight reported a decrease in revenue. The median gross margin stood at -0.5% compared to last year. Median net income rose by 12.0%. Due to the varying nature of financial reporting styles across APAC, some companies reported their revenue in only half years and other varying periods. Japan - The report includes 30 Japan-based staffing companies. The Japanese companies reported year-on-year median revenue growth of 13.6%. Three firms reported a decrease in revenue. Australia – Three Australian staffing firms showed a decrease in revenue. Median revenue was up by 5.6% when compared to the previous year. The remaining companies are headquartered in China, New Zealand, Singapore and Taiwan. Some staffing firms were dropped from the previous year’s list due to a variety of reasons. Programmed Maintenance was taken over by Persol Singaporean firm Oilfield Workforce Group has rebranded and changed its focus. Zhaopin became a privately-held company and other firms had not yet reported their latest figures. For more information about each company’s results, please click on the links provided or visit the companies’ websites. To download the full report, please click below: APAC Q2 20181115 - You do not have permission to view this object. […]

  • Labour Hire Licensing in Australia 2018

    Key Findings The Australian workplace is highly regulated under the Fair Work system. There have been several State and Federal inquiries into the labour hire industry since 2001. A key recommendation of some of those inquiries has been registration of businesses operating to supply labour.  In South Australia, the Labour Hire Licensing Act came into effect on 1 March 2018, with organisations required to become licensed within six months. However, in March 2018, the Labour Government was replaced by a Liberal Government in the State election which announced that they would repeal the Act by the end of this year.  Queensland’s legislation came into effect on 16 April 2018 and providers were required to apply for a licence by 16 June 2018. On 20 June 2018, the Victorian government passed its Labour Hire Licensing Act. The commencement date of the scheme in Victoria is yet to be advised but is expected to become effective no later than 1 November 2019 with a transition period of six months. To download a copy of the report click below: Labour Hire Licensing in Australia_20181114 - You do not have permission to view this object. […]

  • VMS Market Developments Part 2

    In 2017, the contingent workforce Vendor Management System (VMS) market represented $154 billion of spend under management, an 11% from the prior year. Although growth continues to decelerate, it is still in the double digits, evidence of the appetite for managing contingent workforce programs through a VMS. North America continues to dominate the market with a 66% share, still growing robustly at 10%. EMEA is growing at 14% as it has more untapped terrain in terms of penetration of the staffing and SOW market. The APAC market is growing the fastest of the three regions at 15%, but the growth is from a low base, and it continues to experience challenges in gaining traction in several markets.There is considerable room in the SOW market for more penetration of VMS, and while some providers are reporting 30%+ growth in SOW (and over large numbers), the robust growth is not universal among participants; for some, growth was less than that of temp/contract. Anecdotally, many enterprise buyers continue to struggle to clearly define the role of VMS in managing SOW versus traditional procurement software suites such as Ariba or Coupa.Nearly one third of programs cover three or more regions as vendors continue to roll out capability to new countries, driven by customers that want to gain visibility and centralize control of workers globally.A large share of the market (75%) is represented by client organizations of more than 10,000 employees (FTE), although buyers across all sizes of organizations are represented.As in previous years, the prevalent pricing method is percentage of spend through the program, typically funded by the supplier. However, Europe has a higher adoption of client funded programs due to a number of factors, which include nascent adoption of MSP models leading to supplier resistance in paying the incremental cost versus unproved value. Also, European staffing suppliers often have lower gross margins than most staffing suppliers in North America, making fee absorption a difficult proposition and hindering adoption.The three largest providers globally, each with spend under management above $10 billion, are Beeline, DCR Workforce and SAP Fieldglass. While there are providers that are focused on a given country (US, France, the Netherlands), the majority of providers in our study service multiple regions. VMS providers typically support a wide range of industries, apart from those that are focused on the healthcare market.The full report can be downloaded by clicking the link below: VMS Market Developments - Part 2 20181111 - You do not have permission to view this object. […]

  • Merger and Acquisition Funders and Advisors Directory

    This directory provides full records for over 26 companies operating in the M&A space around the world. Some firms provide services in just one market while others provide international and cross border M&A advice and services in up to 40+ countries. They are listed in alphabetical order, and an index is provided at the rear of this document. An additional 115+ firms who have been identified as providing M&A services are also shown. We have tried to make this report as exhaustive as possible, but if there are additional companies you believe should be listed, or if you would like to contribute a “full” entry within this directory, please contact the author. Please note that the information included herein is self-reported and then edited for consistency sake by SIA. If pronouns such as we are used these have been left as they are. We cannot vouch for the accuracy of each record, nor should inclusion in this directory be taken to imply any endorsement of the companies’ services. This copy of the report has been completed in November 2018. If you have any corrections or changes, please contact author listed on the right. To download the full report, please click below: M&A Funders and Advisors 20181112 - You do not have permission to view this object. […]