Global Daily News

  • The Global Power 150 — Women in Staffing List now online

    The Global Power 150 — Women in Staffing List was officially released today by Staffing Industry Analysts. In its fifth year, the list includes 100 of the staffing industry’s most influential women in the Americas and 50 in the global staffing industry.“The women named to this year’s Global Power 150 list play an important role in bringing value to the workforce solutions ecosystem, elevating not only the bottom line for their organizations but lifting up their teams through a passionate focus on employee development and creation of positive and inclusive cultures in which talent thrives,” said Subadhra Sriram, editor and publisher, media products, at SIA.Women on this list include CEOs, entrepreneurs, divisions heads, technologists, attorneys and more. They are helping shape the $490 billion global staffing industry.“As we celebrate this year’s honorees for their achievements in taking the industry forward, we also continue to be inspired by women across companies big and small bringing benefit to business and society and share in the desire to see more women with a seat at the table,” Sriram said.This year’s list was sponsored by Bullhorn.“Bullhorn is proud to once again support the SIA Global Power 150 — Women in Staffing List, which puts a deserved spotlight on this impressive group of leaders in the global staffing and recruiting industry,” said Art Papas, founder and CEO of Bullhorn. “Though numbers have grown in recent years, McKinsey reports there is still less than 30% female representation for top leadership roles in North America alone. It is crucial that we recognize these role models, and support and celebrate continued advances.”For the full list, click here. […]

  • Tech Headlines: Headstart, Jobiak and Fulcrum announce funding rounds; Trigyn reports staff augmentation deal

    Headstart, which aims to reduce unconscious bias in hiring, announced a $7 million funding round; Jobiak, which provides a Google for Jobs service, announced a $2.3 million funding round; on-demand staffing platform Fulcrum announced a $1 million funding round; Trigyn Technologies Ltd. reported a staff augmentation contract; and Infosys Ltd. (NYSE: INFY) commemorated construction of its US service center in Indianapolis.Here’s more: HeadstartHeadstart, which aims to use data science to reduce unconscious bias in hiring, announced that it raised $7 million in a seed funding round led by venture capital firm FoundersX with participation from another firm, Founders Factory.The company was launched in London in 2017.In a post on LinkedIn, Headstart Chief Revenue Officer Tom Price-Daniel wrote that the company was able to increase female hiring by 5% and ethnic minority hiring by 2.5%. The software uses data from job descriptions and current employees; it also gathers publicly available data from the web. JobiakJobiak last week announced a $2.3 million seed funding round led by private investors including Jane Hirsh and Raj Surapaneni. Founder Venkat Lokandwala also invested an additional $500,000.Jobiak’s machine-learning platform has automated the process of meeting Google for Jobs requirements, according to the company. It noted that Google for Jobs requires a complex and time-consuming coding effort to meet its schema and optimization requirements in order to gain the full benefit of using the services; in the past, the company said an average of only 20% of jobs from recruiters would show up in search results.The company is based in Burlington, Massachusetts. FulcrumOn-demand workforce platform Fulcrum announced a $1 million seed funding round. The San Diego-based company aims to connect companies to freelance workers while maintaining regulatory compliance. The funding round was led by Greatscale Ventures along with several private co-investors. Trigyn Technologies Ltd.Trigyn Technologies Ltd. announced it was awarded an IT staff augmentation contract by Arlington County, Virginia. The award is for a five-year period with an option to extend by an additional six years for a total possible contract length of 11 years.The award covers 80 labor category positions including network and telecommunications systems and infrastructure; security; server administration; and others.Trigyn is based in Edison, New Jersey, and is traded on the National Stock Exchange of India Ltd. and the BSE Ltd. stock exchange. Infosys Ltd.Infosys Ltd. (NYSE: INFY) announced that it hosted Indiana Gov. Eric Holcomb and other leaders for a ceremony to commemorate the construction of its US education center in Indianapolis. The IT services giant also announced the hiring of more than 500 American workers since March 2018.The company serves 50 clients out of its center in Indianapolis. […]

  • For employees starting new jobs, tech is top tripping point

    While nearly all companies have an onboarding process, that didn’t stop employees from experiencing difficulties when starting new jobs, according to a poll of 1,000 US offices workers by Accountemps, a division of Robert Half International Inc. (NYSE: RHI).Issues with technology not being set up were cited by 39% of respondents; it’s the area that drew the most concern.In addition, 24% said necessary supplies weren’t provided, and 21% said they weren’t introduced to coworkers.Other problems: 20% didn’t receive an overview of the company and its policies and 17% didn’t get a tour of the office.Only 41% said they didn’t experience a mishap when starting a new job.“In today’s market, where employees are in the driver’s seat, it’s especially important for companies to make a good first impression,” said Michael Steinitz, senior executive director for Accountemps. “Managers need to pay attention to even the smallest details so new hires feel welcomed and empowered to start contributing right away.”The difficulties occurred even though 95% of workers said their companies had an onboarding program in place and 79% cited the programs as very effective or somewhat effective. […]

  • Adecco to pay $49,500 in Pennsylvania discrimination suit

    Adecco USA Inc. will pay $49,500 to settle a disability discrimination lawsuit brought by the US Equal Employment Opportunity Commission, the agency announced Friday.An applicant with learning and other mental disabilities was refused placement at a food packaging and distribution center after an official told him he was “too slow” for the job, according to the EEOC. The comment allegedly came after the applicant had difficulty reading and comprehending a pre-employment test.While others were placed in the food packaging and distribution positions, the applicant was subsequently offered a job cleaning cars, according to the EEOC.In addition to the $49,500 settlement, Adecco must also take other steps including posting a notice about the settlement and furnish reports to the EEOC semi-annually concerning allegations of disability discrimination regarding the Corry location, according to the EEOC. Other measures include included modifications to its existing policy prohibiting disability discrimination and ADA training for certain personnel. […]

  • OSHA releases new temp worker guidance documents (Mondaq)

    Two new temporary worker guidance documents were released by the US Occupational Safety and Health Administration, according to a report on Mondaq by law firm Seyfarth Shaw LLP. One is a small, handout card that reminds temporary agency workers that they have the same rights as traditionally hired workers. The other document, which covers safety and health in shipyard employment, is a 10-page summary of staffing employee safety laws. […]

  • UK – Hydrogen Group issues profit warning on weakness in UK and APAC

    Hydrogen Group, the UK-based specialist recruitment group, provided an update on trading for the year ended 31 December 2019.As reported in the group's interim report on 3 September 2019, the Hydrogen Group said it traded in line with expectations during Q3.   Subsequently, trading conditions in two of the group's key markets have deteriorated.   In the UK, the group said demand levels have continued to be impacted by growing political uncertainty. “This is now being exacerbated by the impact of the proposed changes to the IR35 legislation on clients' contract hiring plans,” the group stated.In the Asia Pacific region, Hydrogen Group said public disorder and demonstrations in Hong Kong are now having a material impact on local activity levels.     As a result of the uncertainty highlighted in the UK and Asia Pacific, the Board expects the group's full year underlying profit before tax to be below current management expectations. “The Board continues to have confidence in the group's future prospects and will provide a further update in the new year,” Hydrogen Group stated.After issuing its profit warning on Friday, Hydrogen Group shares closed at £40.00, down 26.61% on the day and 6.52% above its 52-week low of £37.55, set on 15 November 2019. Based on its current share price the company has a market value of £13.19 million. […]

  • Sweden – Hedera Group appoints new CFO

    Swedish recruitment services firm Hedera Group announced that it has appointed Per J Levin as its new CFO.Per J Levin was previously an auditor at Ernst & Young AB.Earler this year the group announced that CEO Maria Nordin has resigned from her role. Nordin is still currently CEO of the group.Nordin commented on the appointment of Levin as CFO, “We are very pleased with the recruitment of Per J Levin as he has experience from many companies and can contribute to our increased efficiency of the finance function. The Hedera Group has experienced rapid development and has now reached the volume where a strong finance department is essential. At the same time, we are strengthening the organisation to receive more acquisitions in the most stable and good way possible.”“Hedera has a very exciting journey ahead of it with great potential to grow into a major player in healthcare and care,” Levin said. “I look very much forward to getting to be part of the journey and to help develop and improve the organisation.Earlier this month Hedera Group reported revenue for the third quarter ended 30 September 2019 of SEK 59.5 million (€5.5 million), a decrease of 5.5% compared to last year. […]

  • Netherlands – Directors for cargo employment agency found liable for underpayment of temp workers

    Three directors for Dutch cargo employment agency Flexcargo, have been found liable for the underpayment of 16 temporary employees, according to the FNV, the Netherlands Trade Union Confederation.Flexcargo went bankrupt in 2018 which then threatened to leave the 16 temporary employees underpaid.However, in the case of the 16 temporary workers against Flexcargo, the bankruptcy trustee of the company declared bankrupt held the three directors liable for the full bankruptcy deficit. This includes approximately €435,000 in debts for the 16 temporary employees.Flexcargo lent staff through various limited companies to companies such as Menzies World Cargo and DHL.FNV Flex & Compliance said it successfully challenged the so-called loan structures of temporary employment agencies where thousands of temporary workers are structurally underpaid.FNV director Lisa Blaas said, “The temporary employees were pushed back and forth via the BVs (limited companies), so that they were always administered as starting temporary employees. They only received the minimum wage, hardly any pension, and despite 24/7 schedules, no irregularity surcharges.“Their DHL colleagues did exactly the same job but were paid 30% to 40% more in accordance with the collective labour agreement,” Blaas said. “FNV Compliance & Flex often encounters this type of abuse. We hope that this case will encourage other rogue employment agencies to comply with the collective labour agreement.”“The same wage must be paid for equal work,” Blaas said, adding that this is the case for temporary workers who are hired within a chain of companies. “The bankruptcy trustee now judges that the directors are personally responsible for paying the wage claims, which range from €6,000 to €50,000. With this statement, chances are very high that the 16 temporary workers will still receive their arrears (debts owed)," Blaas said. […]

  • UK – Majority of firms not ready for upcoming IR35 changes, study finds

    The majority, or 74%, of UK organisations are not ready for the upcoming changes to off-payroll working rules, according to a poll from HR and payroll software and service provider MHR.The off-payroll IR35 rules are being extended to include the private and voluntary sectors from April 2020. Previously, such checks have been carried out by contractors themselves.MHR’s poll of 1,228 people who are responsible for IR35 preparations at their respective company found that 74% are not ready for the new rules, leaving the business exposed to potential rising costs and a significant skills shortage in the future.Neil Tonks legislation expert at MHR, commented, “IR35 represents a significant change in the way organisations in the private sector employ and pay their contractors. Preparing for the change is no easy task with the process estimated to take three to four weeks to complete, so it is critical that companies don’t pay lip service to the new rules and treat IR35 assessments as an urgent priority to ensure they fully comply.“Failure to correctly assess contractors could lead to backdated demands for unpaid PAYE, tax and NIC, and fines for delays and late submissions, not to mention reputational damage which could impact the ability to attract contractors and other temporary workforces, who provide invaluable flexible expertise.”Tonks added that HR and payroll professionals have a key role to play in helping employers embrace IR35 rules.Last week, a Harvey Nash survey found that 56% of private sector businesses in the UK admitted they don’t feel prepared for the revised IR35 legislation.Another recent survey from the Morson Group found that 40% of contractors are unaware of the upcoming IR35 off-payroll reforms. […]

  • Australia – Ignite to sell subsidiary’s Hong Kong business

    Australian recruitment firm Ignite (IGN:ASX) announced that its subsidiary Lloyd Morgan will sell 100% of Lloyd Morgan Hong Kong.Lloyd Morgan stated that it has agreed to sell Lloyd Morgan’s Hong Kong business to current Chief Executive Officer of Lloyd Morgan China, Denis Rigon.Lloyd Morgan recruits for roles in sales, marketing, retail, HR, finance, legal, IT, engineering, procurement, supply chain, manufacturing and operations across different industries and locations in China.In a statement, Ignite said, “The share sale was entered into for a nominal cash consideration and based on the acquisition of the business as a going concern on an “as is, where is” basis, with all faults and without any warranties or representations by the seller and without any future recourse to the seller in respect of the business sold.Ignite, through its related entities, has had majority ownership and control of the Lloyd Morgan business, which provides permanent recruitment services in China, for more than twelve years and said it has experienced mixed results and numerous challenges in its performance during that period.In its 2019 Annual Report, the group said Lloyd Morgan had a very challenging year as it continued to rebuild under the leadership of its CEO Rigon who was appointed in November 2018.In recent years, following strong revenue growth in fiscal 2018 and a profit of AUD 125,000 (USD 85,160), the business fell into loss in fiscal 2019 losing AUD 966,000 (USD 650,070). The year to date performance in fiscal 2020 saw the business losing AUD 895,000 USD 609,800) for the first four months and the Board has formed the view that the prospects of a rebound to profitability are unlikely in the current fiscal year.“China is a complex regulatory environment and Lloyd Morgan China also operates in a highly competitive industry for both clients and staff,” Ignite stated. “It is constantly challenged in attracting and retaining both. Over the last five years, the China operations, which have been self-funding and self-sufficient during that period, have consumed a disproportionate amount of the time of the Board and the senior leadership team relative to the scale of operations and contribution to revenue and profitability.“Following a review of the options available to it the Board determined not to invest further capital in the China business and that together with the ongoing risks and challenges facing the business, the Board considered that LMC, its clients, candidates and staff were best served by local ownership with a locally focussed and experienced leadership team,” Ignite stated.With approximately 200 employees, Ignite operates in 12 offices across Australia as well as in China where it trades under its Lloyd Morgan brand.Further financial details were not disclosed. […]

  • India – Majority of employers forecast a hiring surge in the next 12 months

    The majority, or 84%, of Indian organisations are expecting a hiring surge in the coming 12 months, according to a report from background screening firm HireRight.HireRight’s report, ‘2019 India Employment Screening Benchmark Report’, found that fewer companies in India anticipate any form of decline in their workforce this year compared to the last report (11% in 2019 versus 13% in 2018).However, the report found that there remains concern over talent acquisition with 33% of respondents citing finding, developing and retaining talent as one of their top three business challenges of 2019.Meanwhile, 19% say there is concern over growing revenues (19%) and maintaining a competitive edge (18%).Marcellus Solomon, General Manager, India at HireRight,commented, “With India aspiring to become a USD 5 trillion economy by 2025, we can expect heavy investments in infrastructure, digitalisation and entrepreneurship, but to power these ambitions, India needs good talent. We need to ensure India is able to attract, retain and nurture the best talent; all while standing on the global stage. […]

  • Hong Kong – Jobless rate increases as economic conditions worsen

    The seasonally adjusted unemployment rate in Hong Kong increased from 2.9% in the period from July to September 2019 to 3.1% for the period from August to October 2019, according to the latest labour force statistics published by the Hong Kong Census and Statistics Department.The number of unemployed persons (non-seasonally adjusted) increased by approximately 5,100 to 125,400 in the August to October 2019 period.The unemployment rate of the consumption- and tourism-related segment rose further to 5.0%, the highest since the beginning of 2017. The Department added that the unemployment rate of the construction sector, particularly of those involved in decoration, repair and maintenance for buildings, ‘deteriorated visibly’.At the same time the underemployment rate also increased to 1.2%. The number of underemployed persons increased by approximately 4,400 to 45,900.Total employment decreased by approximately 11,600 to 3.84 million during the August to October period. Over the same period, the labour force also decreased by approximately 6,400 to 3.96 million.Secretary for Labour and Welfare, Law Chi-kwong commented, “The labour market eased further as economic conditions continued to worsen.”Chi-kwong also commented on the country’s labour outlook, "The unemployment rate will be under increasing upward pressure as local social incidents involving intensifying violence continue to take a heavy toll on the economy. The government will monitor the developments closely."Chi-kwong referred to the current protests in Hong Kong in which protesters have clashed with police over a controversial extradition bill that would have allowed suspects to be sent to mainland China, seen by many as another move to extend Mainland China’s control over the city. […]

  • Australia – Casual workers for broadcaster ABC to receive back pay from next month (Brisbane Times)

    Approximately 2,000 current and former casual employees for the Australian Broadcasting Corporation (ABC) will start receiving back pay from next month, with the outstanding entitlements expected to cost the public broadcaster millions of Australian dollars, reports Brisbane Times. In January 2019 ABC admitted it inadvertently underpaid up to 2,500 casual staff over the past six years. An ABC spokesperson confirmed a review has since found 1,886 people did not get their correct entitlements while the review also found that the other 689 were not underpaid. In October 2019 it was reported that ABC had set aside AUD 23 million (USD 15.6 million) in compensation for its underpaid staff. "We are sincerely sorry that this happened and deeply regret the impact it has had on our people," an ABC spokesperson said. "This error should not have occurred. The ABC is continuing to have discussions with the Fair Work Ombudsman and the other unions about this matter." The spokesperson added that the broadcaster has since changed the way it hires casual staff and has rolled out a training program to ensure managers are made aware of their legal obligations. The initial underpayments occurred because some casuals were paid a flat rate that was not sufficient enough to cover penalty rates and overtime as required under the ABC's enterprise bargaining agreement. […]

Latest Research

  • Largest Global Staffing Firms 2019

    The 100 firms on our list of the world’s largest staffing firms have a combined turnover of $225 billion (€190 billion) in 2018. The order of the top three ranked firms has changed this year. With Randstad, as the world’s largest staffing firm based on combined staffing and place and search revenue, followed by Adecco Group and ManpowerGroup. Their combined market share of just under 15%, is very slightly down from last year. The top 10 firms account for 25% of total revenue (2017: 25%), while the top 100 in total represent 46% of the total market, above the previous year (44%) Forty-eight staffing firms on this list are headquartered in EMEA, while 36 are headquartered in North America and 16 in Asia. There are eight companies that no longer make the list, all but one because their revenue is no longer large enough. In total, 37 of the 100 largest firms are publicly listed. Five companies (two of which are publicly listed) specialise in executive search. The complete list can be found from page seven onwards. Our definition of staffing and place & search and the methodology for this report can be found on page twelve. We have ranked companies by revenue for staffing and place & search combined, according to industry custom, but this ranking should not be taken to imply that a firm with a higher rank necessarily provides better service to customers or more value to its stakeholders. Staffing firms vary 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 the full report please click below: Largest Global Staffing Firms 20191118 (2) - You do not have permission to view this object. […]

  • Global Staffing Forecast: November 2019

    Key Findings: We estimate that in 2018, the staffing industry generated USD 491 billion of revenue worldwide (EUR 416 billion). Three countries (US, Japan, UK) made up a majority of revenue. 89% of staffing revenue was made up by temporary staffing and the remainder by place & search. SIA projects global staffing revenue to decelerate from growth of 5% last year to 2% this year, driven by a global economic slowdown that has been heavily weighted toward trade and manufacturing. Additionally, certain countries such as Germany and Italy are being impacted by regulatory changes that are unfavorable for temporary staffing. Our global staffing market growth projections are on a constant-currency basis. We forecast growth to pick up to 3% next year as part of a mild recovery to the current global economic slowdown though acknowledge that there are a number of external macro-economic and political risks which could jeopardize this recovery. According to the World Economic Forum (WEF), the most significant risk to the global economy is a slowdown in Chinese economic growth exacerbated by a trade war with the US but also due to the transition from export and investment-led growth to more sustainable domestic consumption-led growth. The WEF also highlights the risk of a rise in global long-term real interest rates, political ‘populism’, US political tensions, a messy Brexit, Italy’s debt problems and heightened geopolitical issues. Given the current global economic slowdown is rooted much more in manufacturing, with the services sector less affected, staffing markets with a greater balance of professional jobs (e.g., US, UK) have generally been less vulnerable to the macro headwinds than those with a dominant share of industrial occupations (e.g., Germany, France, Italy, Belgium). The full report can be downloaded by clicking the link below: Global Staffing Industry Forecast November 2019 20191117 - You do not have permission to view this object. […]

  • Staffing's Top Regulatory Concerns

    Key Findings: This report is based on responses to the following two survey questions: “What current legislation or regulation is having the most negative effect on your business this year?” “What forthcoming legislation or regulation are you most concerned about?” Top legal concerns of North American staffing firms. Three issues dominated, together accounting for half of all reported concerns. The Affordable Care Act (ACA) took the top spot for the sixth year in a row. Compliance with ACA was the main concern, but a few also expressed anxiety about potential changes in the law and/or repeal. Immigration issues, such as uncertainty about changes in rules governing immigration and limitations on H-1B visas, were the second most frequently cited current and upcoming concern. Time off in various forms -- mandatory sick leave (time off for illness), PTO, and family leave -- were also a commonly noted current concern and the top forthcoming concern. Top legal concerns of UK staffing firms. The extension of IR35 Off-Payroll Working rules to private sector businesses using independent contractors from April 2020 was the top concern currently and for the near future. The General Data Protection Regulation (GDPR) (a law intended to strengthen and unify data protection for individuals within the European Union) ranked second in current concerns. Brexit was a lesser concern both currently and upcoming. Top legal concerns of European (excluding UK) staffing firms. The General Data Protection Regulation was the top concern currently. Assignment length limits also accounted for a large portion of current concern responses. Independent contractor misclassification, Brexit and EU legislation regarding temporary contracts were lesser concerns. Note: In many cases, as the average number of mentions for each of the issues was sometimes small (particularly outside of North America), the rank order in the tables should not be given too much weight. Nonetheless, items toward the very top of the tables were typically cited disproportionately. To access the complete report, please select the link below: Global Staffing Company Survey 2019 Concerns about current and upcoming legislation 20191116 - You do not have permission to view this object. […]

  • A Presence Not To Be Ignored

    In his recent keynote speech at the Collaboration in the Gig Economy conference in San Diego, SIA President Barry Asin highlighted how big tech vendors, such as Uber, are eyeing the human cloud and the resulting urgency faced by many incumbents in the ecosystem. This was illustrated with an image of a spaceship from the movie Independence Day hovering over New York City. Asin noted that when a big ship with obviously highly sophisticated technology shows up over your city, you cannot simply ignore it and hope it goes away.Perhaps the picture should have been shown over the Willis Tower rather than the Empire State Building, as just three weeks later Uber announced the launch of Uber Works in Chicago. Uber Works employs a just-in-time staffing (JITS) model. JITS, a subset of online staffing, specializes in short-term work (e.g. shift-based or hourly), that can be quickly filled (minutes to hours), typically by way of a mobile app.Consistent with most JITS platforms, Uber Works assignments maintain the following characteristics: B2B onsite work arrangements Short-term, high-volume roles Low hourly wage, blue-collar work Workers can choose from the following work categories on the Uber Works app: Assembly Line Worker Banquet Server Barback Bartender – Beer & Wine Bartender – Full Service Buffet Attendant Busser Cashier Commercial Cleaner Concessions Cashier Customer Service Dishwasher Event Setup/Teardown Fry Cook General Labor Grill Cook Guest Services Host Line Cook Prep Cook Residential Cleaner – Move In/Move Out Warehouse Picker – Packer The app’s look and feel is intuitive for the millions that have previously used Uber for ride hailing or for its food delivery services. The design is also similar to apps available from other established JITS platforms, such as Wonolo and Bluecrew. Source: Uber WorksA key distinction of Uber Works, however, is its approach to Employer of Record (EoR) and payroll services, services commonly provided by JITS platforms themselves . Uber Works announced partnerships with two staffing firms to handle these services, TrueBlue, the fourth largest light industrial staffing firm in the US by revenue, and Massachusetts-based TalentBurst.While TalentBurst’s EoR offering is well established, TrueBlue created a new venture called PeopleWorks that will serve as an employer and payroll service provider for only Uber Works, with the possibility of expanding to serve additional clients down the road, or perhaps even ultimately drivers on Uber’s platform. TrueBlue has rapidly scaled its own self-service digital platform called JobStack. JobStack, however, will remain distinct and separate from the Uber Works business relationship.Clearly Uber has tremendous scale in serving 700+ cities. We believe Uber is well-positioned to expand Uber Works beyond Chicago across many US cities and suspect announcements of such expansion to follow in short order.Uber is not the only big tech show in town to recently dabble in the human cloud. Uber CEO Dara Khosrowshahi said during the 2018 TechCrunch Disrupt conference that it wants to be, “the Amazon of transportation”. Ironically, just a few days prior to the Uber Works announcement, Amazon announced the launch of its own online staffing platform of sorts, called AWS IQ. AWS IQ helps US-based clients solicit bids, hire certified AWS experts and provides payment through the customer’s AWS account. AWS IQ is a logical move on the part of Amazon as it helps to foster the AWS technical community and removes friction for clients to see projects through to completion. Source: AmazonAnalogous to Independence Day the movie, big tech starships are hovering over more and more industries, including the workforce solutions ecosystem. While this may provide validation of attractive market opportunities for incumbents, participants would be wise to pay close attention to the movements of big tech and charter a course accordingly. […]

  • Largest Global Staffing Firms 2019

    The 100 firms on our list of the world’s largest staffing firms have a combined turnover of $225 billion (€190 billion) in 2018. The order of the top three ranked firms has changed this year. With Randstad, as the world’s largest staffing firm based on combined staffing and place and search revenue, followed by Adecco Group and ManpowerGroup. Their combined market share of just under 15%, is very slightly down from last year. The top 10 firms account for 25% of total revenue (2017: 25%), while the top 100 in total represent 46% of the total market, above the previous year (44%) Forty-eight staffing firms on this list are headquartered in EMEA, while 36 are headquartered in North America and 16 in Asia. There are eight companies that no longer make the list, all but one because their revenue is no longer large enough. In total, 37 of the 100 largest firms are publicly listed. Five companies (two of which are publicly listed) specialise in executive search. The complete list can be found from page seven onwards. Our definition of staffing and place & search and the methodology for this report can be found on page twelve. We have ranked companies by revenue for staffing and place & search combined, according to industry custom, but this ranking should not be taken to imply that a firm with a higher rank necessarily provides better service to customers or more value to its stakeholders. Staffing firms vary 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 the full report please click below: Largest Global Staffing Firms 20191118 - You do not have permission to view this object. […]

  • Global Staffing Forecast November 2019

    Key Findings: We estimate that in 2018, the staffing industry generated USD 491 billion of revenue worldwide (EUR 416 billion). Three countries (US, Japan, UK) made up a majority of revenue. 89% of staffing revenue was made up by temporary staffing and the remainder by place & search. SIA projects global staffing revenue to decelerate from growth of 5% last year to 2% this year, driven by a global economic slowdown that has been heavily weighted toward trade and manufacturing. Additionally, certain countries such as Germany and Italy are being impacted by regulatory changes that are unfavorable for temporary staffing. Our global staffing market growth projections are on a constant-currency basis. We forecast growth to pick up to 3% next year as part of a mild recovery to the current global economic slowdown though acknowledge that there are a number of external macro-economic and political risks which could jeopardize this recovery. According to the World Economic Forum (WEF), the most significant risk to the global economy is a slowdown in Chinese economic growth exacerbated by a trade war with the US but also due to the transition from export and investment-led growth to more sustainable domestic consumption-led growth. The WEF also highlights the risk of a rise in global long-term real interest rates, political ‘populism’, US political tensions, a messy Brexit, Italy’s debt problems and heightened geopolitical issues. Given the current global economic slowdown is rooted much more in manufacturing, with the services sector less affected, staffing markets with a greater balance of professional jobs (e.g., US, UK) have generally been less vulnerable to the macro headwinds than those with a dominant share of industrial occupations (e.g., Germany, France, Italy, Belgium). The full report can be downloaded by clicking the link below: Global Staffing Industry Forecast November 2019 20191117 - You do not have permission to view this object. […]

  • Staffing's Top Regulatory Concerns

    Key Findings: This report is based on responses to the following two survey questions: “What current legislation or regulation is having the most negative effect on your business this year?” “What forthcoming legislation or regulation are you most concerned about?” Top legal concerns of North American staffing firms. Three issues dominated, together accounting for half of all reported concerns. The Affordable Care Act (ACA) took the top spot for the sixth year in a row. Compliance with ACA was the main concern, but a few also expressed anxiety about potential changes in the law and/or repeal. Immigration issues, such as uncertainty about changes in rules governing immigration and limitations on H-1B visas, were the second most frequently cited current and upcoming concern. Time off in various forms -- mandatory sick leave (time off for illness), PTO, and family leave -- were also a commonly noted current concern and the top forthcoming concern. Top legal concerns of UK staffing firms. The extension of IR35 Off-Payroll Working rules to private sector businesses using independent contractors from April 2020 was the top concern currently and for the near future. The General Data Protection Regulation (GDPR) (a law intended to strengthen and unify data protection for individuals within the European Union) ranked second in current concerns. Brexit was a lesser concern both currently and upcoming. Top legal concerns of European (excluding UK) staffing firms. The General Data Protection Regulation was the top concern currently. Assignment length limits also accounted for a large portion of current concern responses. Independent contractor misclassification, Brexit and EU legislation regarding temporary contracts were lesser concerns. Note: In many cases, as the average number of mentions for each of the issues was sometimes small (particularly outside of North America), the rank order in the tables should not be given too much weight. Nonetheless, items toward the very top of the tables were typically cited disproportionately. To access the complete report, please select the link below: Global Staffing Company Survey 2019 Concerns about current and upcoming legislation 20191116 - You do not have permission to view this object. […]

  • Most Complex Staffing Markets

    60 different contingent markets assessed across six Continents. Complex markets identified among both emerging and established contingent markets. Egypt and Venezuela are ranked the most complex locations, followed by Brazil. Most complex Asian contingent market is Indonesia followed by Vietnam and China. The least complex markets in our analysis is New Zealand, followed by the United States and the United Kingdom. The markets that have become less complex compared to a year ago are: France, Austria, Finland and Turkey. The markets that have become more complex compared to a year ago are: Chile, Mexico Singapore and South Africa. To download a full copy of the report, click below: Most Complex Contingent Markets Globally 20191115 - You do not have permission to view this object. To download a copy of the interactive Market Complexity Assessment Tool, click below: Market Complexity Assessment Tool 20191115 - You do not have permission to view this object. […]

  • Largest Global Staffing Firms 2019

    The 100 firms on our list of the world’s largest staffing firms have a combined turnover of $225 billion (€190 billion) in 2018. The order of the top three ranked firms has changed this year. With Randstad, as the world’s largest staffing firm based on combined staffing and place and search revenue, followed by Adecco Group and ManpowerGroup. Their combined market share of just under 15%, is very slightly down from last year. The top 10 firms account for 25% of total revenue (2017: 25%), while the top 100 in total represent 46% of the total market, above the previous year (44%) Forty-eight staffing firms on this list are headquartered in EMEA, while 36 are headquartered in North America and 16 in Asia. There are eight companies that no longer make the list, all but one because their revenue is no longer large enough. In total, 37 of the 100 largest firms are publicly listed. Five companies (two of which are publicly listed) specialise in executive search. The complete list can be found from page seven onwards. Our definition of staffing and place & search and the methodology for this report can be found on page twelve. We have ranked companies by revenue for staffing and place & search combined, according to industry custom, but this ranking should not be taken to imply that a firm with a higher rank necessarily provides better service to customers or more value to its stakeholders. Staffing firms vary 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 the full report please click below: Largest Global Staffing Firms 20191118 (2) - You do not have permission to view this object. […]

  • Global Staffing Forecast November 2019

    Key Findings: We estimate that in 2018, the staffing industry generated USD 491 billion of revenue worldwide (EUR 416 billion). Three countries (US, Japan, UK) made up a majority of revenue. 89% of staffing revenue was made up by temporary staffing and the remainder by place & search. SIA projects global staffing revenue to decelerate from growth of 5% last year to 2% this year, driven by a global economic slowdown that has been heavily weighted toward trade and manufacturing. Additionally, certain countries such as Germany and Italy are being impacted by regulatory changes that are unfavorable for temporary staffing. Our global staffing market growth projections are on a constant-currency basis. We forecast growth to pick up to 3% next year as part of a mild recovery to the current global economic slowdown though acknowledge that there are a number of external macro-economic and political risks which could jeopardize this recovery. According to the World Economic Forum (WEF), the most significant risk to the global economy is a slowdown in Chinese economic growth exacerbated by a trade war with the US but also due to the transition from export and investment-led growth to more sustainable domestic consumption-led growth. The WEF also highlights the risk of a rise in global long-term real interest rates, political ‘populism’, US political tensions, a messy Brexit, Italy’s debt problems and heightened geopolitical issues. Given the current global economic slowdown is rooted much more in manufacturing, with the services sector less affected, staffing markets with a greater balance of professional jobs (e.g., US, UK) have generally been less vulnerable to the macro headwinds than those with a dominant share of industrial occupations (e.g., Germany, France, Italy, Belgium). The full report can be downloaded by clicking the link below: Global Staffing Industry Forecast November 2019 20191117 - You do not have permission to view this object. […]

  • Most Complex Staffing Markets

    60 different contingent markets assessed across six Continents. Complex markets identified among both emerging and established contingent markets. Egypt and Venezuela are ranked the most complex locations, followed by Brazil. Most complex Asian contingent market is Indonesia followed by Vietnam and China. The least complex markets in our analysis is New Zealand, followed by the United States and the United Kingdom. The markets that have become less complex compared to a year ago are: France, Austria, Finland and Turkey. The markets that have become more complex compared to a year ago are: Chile, Mexico Singapore and South Africa. To download a full copy of the report, click below:Most Complex Contingent Markets Globally 20191115 Most Complex Contingent Markets Globally 20191115 - You do not have permission to view this object. To download a copy of the interactive Market Complexity Assessment Tool, click below:Market Complexity Assessment Tool 20191115 Market Complexity Assessment Tool 20191115 - You do not have permission to view this object. […]

  • APAC Listed Staffing Firms Q219 Financial Results

    Key Findings: Revenue in the reported 38 publicly traded staffing firms in the Asia Pacific region rose by a median of 5.5% during Q2 2019, compared to the same period in 2018. Among the companies included in this report, six reported a decrease in revenue. The median gross margin stood at -0.6% compared to last year. Median net income rose by 9.4%. Due to the varying nature of financial reporting styles across APAC, some companies reported their revenue in only half years and other diverse periods. Japan - The report includes 29 Japanese-based staffing companies. The Japanese companies reported year-on-year median revenue growth of 5.5%. Three firms reported a decrease in revenue. Australia – The report included job board SEEK. Two Australian staffing firms showed a decrease in revenue. Median revenue was up by 10.1% when compared to the previous year. The remaining companies are headquartered in China, New Zealand, Singapore and Taiwan. To download the full report, click below: APAC Q2 2019 - You do not have permission to view this object. […]