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Global Daily News

  • Staffing 360 changes capital structure to maintain Nasdaq listing

    Staffing 360 Solutions Inc. (NASD: STAF), a staffing provider operating in the US and UK, announced changes to its capital structure as part of an effort to get back in compliance with Nasdaq listing requirements. The company had been notified in April that it did not comply with the minimum $2.5 million net shareholders’ equity requirement for listing. Staffing 360 had until last Friday to get back into compliance.The changes include the conversion of a $13 million term loan held by the Jackson Investment Group LLC into a newly created class of preferred stock.According to a filing with the US Securities and Exchange Commission, Staffing 360 closed the debt exchange agreement on Nov. 15 that gives Jackson Investment Group 13,000 shares of the new series E convertible preferred stock.“Maintaining our Nasdaq compliance has been a key priority for our leadership team,” Chairman and CEO Brendan Flood said. “We are committed to our goal of building a profitable $500 million revenue business and driving the value of our stock for our shareholders. We are grateful to JIG for its continued partnership and belief in our long-term vision and management team.”Staffing 360 last week reported third-quarter revenue rose 41.7% when including acquisitions but declined in its core businesses. […]

  • Online staffing platform Wonolo closes $32 million series C funding round

    Online staffing firm Wonolo closed a $32 million series C funding round led by Bain Capital Ventures.The deal follows a $13 million series B funding round in April, led by Sequoia Capital, and brings Wonolo’s total funding to $60 million.New investor DAG Ventures and existing investors Sequoia Capital, Base10, AMN Healthcare and Cendana also participated in the latest funding round. Existing investors who are not part of the Series C round include PivotNorth and Tuesday Capital.Bain Capital Ventures’ Jamison Hill is joining Wonolo’s board of directors as part of the latest deal.Wonolo will use the financing to grow its staff — both in its two headquarters and in satellite offices nationwide — and continue expanding to new local markets around the US. The company is based in San Francisco but in August opened a second headquarters in Nashville, Tenn., to expand its reach.“We raised this money sort of opportunistically,” Wonolo’s co-founder and COO AJ Brustein told Staffing Industry Analysts. “Now it is really a time to accelerate our growth.”The company plans to expand into some new markets and increase its footprint in existing ones. Wonolo will also work to higher more sales and account managers as well as engineers to build out the product.Wonolo operates in the just-in-time space, enabling clients to use an online marketplace to bring in hourly workers to physical locations. Wonolo workers, known as Wonoloers, take on jobs that include making deliveries, stocking shelves, shipping packages and staffing events.There are now 300,000 users on Wonolo’s platform; brands using Wonolo include Coca-Cola, Papa Johns and Uniqlo.Wonolo stands for “Work. Now. Locally.” Northern and Southern California are the company’s largest markets, but it also operates in New York/New Jersey, Chicago, Dallas, Southern Florida, Atlanta and Nashville, Tenn. […]

  • LinkedIn closes acquisition of AI-driven employment engagement platform

    LinkedIn closed on its acquisition of employment engagement and retention platform Glint. The acquisition extends LinkedIn’s offerings to include visibility into the overall health and productivity of the people within an organization, as well as recruitment strategies.LinkedIn first announced the deal in October.Glint was acquired by LinkedIn for a company-reported $400 million, although multiple news entities are reporting the acquisition actually totals more than $500 million, according to Silicon Prarie News. The acquisition occurred earlier in the quarter, and it is the largest acquisition by LinkedIn since its own acquisition by Microsoft for $26.2 billion in late 2016.Glint is based in Redwood City, Calif., with offices in London, UK, and Lincoln, Neb. The firm has more than 300 customers globally using its enterprise-grade, AI-driven platform. Its client firms include United, Intuit and Commercial Bank of Dubai. […]

  • New Bernie Sanders legislation would require $15 minimum wage, or no stock buybacks — includes part-timers and contractors

    Sen. Bernie Sanders (I-Vt.) and Rep. Ro Khanna (D-Calif.)  introduced a bill that would prohibit employers with more than 500 employees from buying back stock unless they pay all employees at least $15 an hour — including part-time employees, independent contractors and franchisee employees.The proposed legislation was named the “Stop Walmart Act.” It would also allow employees to earn up to seven days of paid sick leave to be used to care for themselves or a family member and require that CEO compensation, or the highest-paid employee, is not more than 150 times the median pay of all employees.Employers who violate the act would be subject to civil fines in the amount of each illegal stock buyback and executive officers will be barred from serving in these roles.Sanders previously targeted Amazon over its pay before the online retail giant on Nov. 1 increased its minimum wage to $15 for all employees across the US.In response to the bill, Walmart, in a statement provided to Staffing Industry Analysts, said it promoted more than 230,000 people to jobs of greater responsibility and higher pay, and more than 75% of its store management teams started as hourly associates.“We have increased our starting wages by more than 50% in the last three years and currently have an average hourly total compensation of more than $17.50 an hour,” the statement said. “At the same time, we’ve also added new benefits like paid time off, advanced job training, paid family leave and college for $1 a day. In addition, our associates continue to earn quarterly cash bonuses — more than $625 million last year alone. We have been very deliberate about our job offerings and we will continue listening to our people and investing in the training, benefits and wages that they tell us are important.”Sanders’ bill stands a better chance in the Democrat-controlled House than the Republican-controlled Senate, CNN reported. […]

  • Disbarred lawyer gets prison for fictional temp scheme (Tulsa World)

    A disbarred lawyer was sentenced to federal prison last week in a scheme involving fictional temporary workers, Tulsa World reported. In a plea agreement with prosecutors, Harvey Joseph Stephens admitted to creating fictitious contract employees while working as a human resource manager at Sagebrush Pipeline Co. in Tulsa, Okla. He admitted directing paychecks to be issued from its staffing firm, Task Force Staffing LLC, to two fictitious employees that he created. Stephens was sentenced to serve a 27-month prison term and pay restitution totaling $352,115 to the two companies he defrauded and the IRS. […]

  • Lithuania – Temporary staff at EU gender equality agency fight for equal pay in court

    Former and current temporary staff at the European Institute for Gender Equality are heading to court to fight for the same pay as permanent staff.According to the Baltic News Service, the dispute reached court after the labour dispute commission of Lithuania's Labor Inspectorate ordered Manpower Lit (ManpowerGroup in Lithuania), which hired temporary staff for the Institute, to raise pay for temporary staff so that it matches the pay of permanent staff. Additionally, they ordered Manpower Lit to cover the pay difference for six months.Six temporary employees claim their average pay was approximately €700 euros. Meanwhile, permanent employees in the same category with the same education and working experience were paid nearly €2,000.Manpower Lit says it did not breach the European rules for pay parity at the institution and stated that employees' functions were “totally” different.Both the Institute and Manpower Lit told the court that the Institute does not have permanent positions that could be comparable to work done by temporary staff. They stated that this is the reason why the salary for temporary staff was set with pay comparable to those in similar roles in the Lithuanian labour market, and not at EU institutions.Gerda Baltrunaite, head of business expansion at Manpower Lit, told the court that selection criteria for temporary and permanent staff at the Institute differ as "considerably stricter requirements" are set for those applying for permanent positions at the Institute.The hearing is set to continue on 6 December 2018. […]

  • Switzerland – Registered unemployment rate falls in October

    The Swiss-registered unemployment rate stood at 2.4% in October, down from 3.0% in October of last year according to the State Secretariat for Economic Affairs (SECO).SECO found that there were 107,315 unemployed who were registered at the regional employment agencies, down by 20.4% compared to the same period last year.Meanwhile, youth unemployment (aged 15-24) declined by 3,841 people (-22.7%) when compared to the same month last year.For those 50 and over, the number of unemployed fell by 16.7%.SECO also found that a total of 183,446 jobseekers were registered, a decrease of 14,579 people (-7.4%) when compared to the same period last year.Data from SECO also showed that On 1 July 2018, jobseeker registration was introduced with an unemployment rate of at least 8% throughout Switzerland. The number of vacancies reported to RAV decreased by 4,198 to 32,090 in October. Of the 32,090 jobs, 18,819 were subject to mandatory reporting.Figures from Swiss Staffing, the Swiss Federation for Staffing Companies, showed that the Swiss temporary staffing market grew by 5.5% in the third quarter of 2018, compared to the same period last year. […]

  • Europe – Employment up in Euro Area and EU28 in Q3

    Employment increased by 1.3% in the euro area and by 1.2% in the EU28 during the third quarter of 2018 when compared to the same period last year, according to data from Eurostat, the statistical office of the European Union.When compared to the previous quarter, the number of persons employed increased by 0.2% in both the euro area and the EU28 in the third quarter of 2018.In October, Eurostat published unemployment data, showing that the unemployment rate in the euro area stood at 8.1% in September 2018, down from 8.9% in September 2017. At the same time, the EU28 unemployment rate was 6.7% in September 2018, down from 7.5% in September 2017.The lowest unemployment rates in September 2018 were recorded in the Czech Republic (2.3%), Germany and Poland (both 3.4%). The highest unemployment rates were observed in Greece (19.0% in July 2018) and Spain (14.9%). […]

  • UK – More than a third of workers dislike their job

    Over a third, or 39.7%, of UK workers, confess to disliking their current job, according to research from CV-Library.The research, based on a survey of 1,100 workers, found that 63.2% of those who dislike their job think about quitting every day.Lee Biggins, founder and managing director of CV-Library, commented, “As we approach the end of the year, many workers begin to consider whether it’s time for a career change, perhaps even making work-based resolutions for the year ahead. While this can be beneficial for businesses, for example, if an employee’s career goals are to exceed their targets or to gain promotion in their current workplace, it can also have a negative impact if your employees are planning on finding a new job, elsewhere.”The survey also sought to understand why workers were so unhappy in their current roles, identifying the main cause as feeling undervalued (48.8%). Other reasons include not being in the role they want (47.9%), working at a company with a poor culture (34.8%), being underpaid (29.3%) and being bored at work (28.6%).The survey uncovered the areas across the UK where professionals disliked their jobs the most: Sheffield – 56.7% dislike their current job Liverpool – 51.6% dislike their current job Brighton – 50% dislike their current job Bristol – 48% dislike their current job Southampton – 47.1% dislike their current job Newcastle – 44.4% dislike their current job Nottingham – 42.9% dislike their current job Manchester - 41.9% dislike their current job Bournemouth – 41% dislike their current job Edinburgh – 40.6% dislike their current job “It’s clear job satisfaction is important to today’s professionals, and employers need to ensure they’re doing all they can to meet the needs of their employees,” Biggins said. “Creating a great company culture is key, but you must also consider ways to keep your workforce engaged and show how much you value them. These don’t have to be at a huge expense to your business, but it’s vital that you take this into consideration if you hope to retain talented workers in the New Year.&rdquo […]

  • Australia – Foodora delivery rider ruled as employee, wins landmark unfair dismissal case

    Australia’s Fair Work Commission last week ruled a Foodora rider was an employee, not a contractor, upholding a case of unfair dismissal and ruling the company should pay the worker AUD 15,000 (USD 10,947) in compensation. The decision could have a far-reaching impact for other gig economy companies in Australia such as Uber and Deliveroo, which like Foodora, also classify its drivers and riders as contractors and not employees.Last week’s unfair dismissal case against Foodora was brought by rider Josh Klooger in March 2018 when after he complained about a lack of workers' rights. In July, the Fair Work Commission kicked off an unfair dismissal hearing against Foodora.  At the same time, Foodora was facing accusations from the Fair Work Ombudsman, Australia’s workplace watchdog, over sham employment practices.In August, the company announced that it would cease operations in Australia. It was then reported that Foodora was being chased by The Australian Taxation Office and Revenue New South Wales (NSW) for unpaid superannuation, penalties and interest. Foodora also revealed that it had been unable to pay an AUD 28.3 million (USD 20.6 million) loan from its parent company, Germany-based Delivery Hero.Meanwhile, The Guardian reports that other riders – many of whom sustained injuries on the job – are pursuing Foodora’s parent company, Delivery Hero, for AUD 8.5 million (USD 6.2 million) in unpaid wages and workers’ compensation. Foodora administrators admitted they probably owed the workers AUD 5 million (USD 3.6 million) because they had been incorrectly classified as independent contractors.Last week, creditors voted to accept the company’s offer of paying AUD 3 million (USD 2.2 million) of the AUD 8.5 million (USD 6.2 million) it owes to riders and local tax authorities.Foodora must now pay Klooger AUD 15,000 (USD 10,947) in compensation.In its decision, the Fair Work Commission found Foodora terminated Mr Klooger's contract in a " plainly unjust, manifestly unreasonable, and unnecessarily harsh", manner and without warning, for complaining over workers’ rights.The Fair Work Commission also found that the control Foodora exercised over Klooger’s shift work including the place of work and start and finish times of shifts contributed to the relationship being one between an employee and employer.Klooger, who was represented by the Transport Workers’ Union (TWU), told the Sydney Morning Herald, “Foodora were in control of my working and my employer. I wasn't working for myself.”The Fair Work Commission also looked at Foodora’s “batch system” that gives its best riders the pick of shifts while punishing the most “inactive” or “worst-performing” riders by making them wait two days before they can choose their shifts. ABC.net.au reported that this batch system was found to be evidence of Foodora having a ‘high-degree’ of control over its workers."This fight does not end here. We will continue to pursue Foodora for the money they still owe riders in Australia," TWU national secretary Tony Sheldon said.Labour senator Murray Watt, who chaired the Future of Work inquiry this year, told the Sydney Morning Herald, "It's a landmark decision that will fundamentally reshape work in the gig economy and will reshape the rights of workers in that economy. Companies like Uber Eats and Deliveroo should be very worried by this decision." […]

  • Asia Pacific – Decent work deficits cast a shadow on region’s labour market growth, ILO says

    Working poverty, informality and vulnerable employment are amongst the persistent challenges of Asia Pacific labour markets, according to a report from the International Labour Organisation. The report states that despite two decades of economic growth, Asia Pacific still faces structural weaknesses in its labour markets.The report, entitled, Asia-Pacific Employment and Social Outlook 2018: Advancing decent work for sustainable development, found that although the regional unemployment rate is projected to remain at 4.1% through 2020, the vulnerable employment rate is expected to creep up towards 49%, reversing a downward trend of at least two decades.One-fourth of all workers in the region that is 446 million, lived in moderate or extreme poverty in 2017 and nearly half of the workforce, 930 million people, were making a living in vulnerable employment as own-account or unpaid contributing family workers.“High employment ratios and productivity gains in the region mask persistent and worrying decent work deficits,” Sara Elder, the lead author of the report and Head of the ILO Regional Economic and Social Analysis unit, said. “Many people, in particular in the region’s developing economies, still have no choice but to take jobs with poor working conditions that do not generate stable incomes nor safeguard them and their families against poverty in the longer term. What is especially frustrating here is that despite the region’s important economic gains, there are still so many workers just barely getting by. Any household crisis – injury or death of a breadwinner, loss of job, natural disaster, crop failure, etc. – threatens to push them backwards into poverty.”The report highlighted recent threats of increased trade protectionism which ILO states is already having an impact on investments in the manufacturing sector, which many workers in the region continue to rely on for their livelihoods and, for women, occasionally their first foray into paid employment.ILO also pointed to ageing societies, technological disruptions, and environmental factors, as adding uncertainty to the region’s future growth trajectory.In 2017, the Asia Pacific region had 1.9 billion workers – 1.2 billion men and 700 million women – which represented 60% of the global workforce in 2017. The employment-to-population ratio stands at 59.7%, compared with 58.6% at the global level.The report also showed that more than two in three workers were in informal employment in 2016, which is closely linked to the 48.6% of workers still in vulnerable categories of employment. The informal employment rate is particularly high in Southern Asia, where almost 88% of workers were informally employed.According to the ILO, large numbers of workers in the region, especially those in low-paid jobs, work more than 48 hours per week. The average hours worked in Southern Asia and Eastern Asia in 2017 was the world’s highest, at 46.4 and 46.3 hours per week, respectively.Meanwhile, the APAC’s regional unemployment rate at 4.1% is the world’s lowest and well below the global rate of 5.5% in 2017. However, while the global unemployment rate has held steady since 2015, the rate in the Asia-Pacific region has increased slightly by 0.1%. In total, there were 80.9 million unemployed persons in Asia and the Pacific in 2018. […]

  • Hong Kong – Unemployment rate steady in October quarter

    Hong Kong’s seasonally adjusted unemployment rate stood at 2.8% for the period from August to October 2018, same as that of the previous period from July to September 2018, according to figures from the Census and Statistics Department.The number of unemployed persons (not seasonally adjusted) in August to October 2018 was 116,00, down by 1,800 when compared to July to September 2018 (117,800).Total employment decreased by approximately 2,000 in the August - October 2018 period. Over the same period, the labour force fell by approximately 3,800.Hong Kong’s Secretary for Labour and Welfare, Law Chi-kwong, commented, “When compared to the preceding three-month period, movements in unemployment rates varied across sectors, but were generally small in magnitude. The unemployment situation in most of the major service sectors continued to improve on a year-on-year basis, notably in the accommodation services sector amid the buoyant performance of inbound tourism.""The labour market is expected to stay tight in the near term,” Chi-kwong said. “Yet, the employment outlook beyond the near term will hinge on how the increased external headwinds will affect the local economy going forward. The Government will stay vigilant and monitor the situation closely.&rdquo […]

  • Hong Kong – Majority of CFOs have hired the wrong candidate, Robert Half finds

    A new study from international recruitment firm Robert Half shows that 99% of Hong Kong CFOs have hired an employee that did not meet expectations.According to the study of 150 CFOs, 37% of them typically realise within two weeks that a new hire is not meeting expectations. The most common reasons given were underqualified candidates (48%), a mismatch of skills (39%) and candidates found to be lying on their CVs (28%).When asked what steps they took to address the poor hiring decision(s), 41% of CFOs say they terminated the employee contract, while 33% respectively re-started the recruitment process from scratch and partnered with a staffing agency to secure a replacement.Meanwhile, approximately one-third (31%) of finance employers decided to deal with the matter internally by looking for an internal vacancy the candidate would be better suited for; and, 30% developed a training program to develop the employee’s skills to the desired level. Less than one in four (23%) adopted a ‘wait and see’ approach to see if the employee’s performance would improve.Robert Half’s study also found that the top three consequences of a bad hire are increased workload for colleagues (53%), increased stress on colleagues and managers (39%) and higher recruitment costs (33%). Other cited negative consequences include increased workloads for managers (27%), lost productivity (26%) and low staff morale (23%).Adam Johnston, Managing Director of Robert Half Hong Kong, commented “Businesses go to great lengths to find the right candidate, but the cost of not hiring an adequate employee can be significant. Whether organisations decide to terminate their employment or invest in additional training, it will impact the company financially and can cause significant disruption and stress to the existing workforce, indicating the importance of getting it right.&rdquo […]

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. […]

  • UK Market Snapshot

    Our Market Snapshots provide an executive summary of the international staffing markets in EMEA and APAC.  They can be used as a barometer to assess the relative business environment within each market and are designed to help you whether you are a buyer or supplier of contingent labour; looking to move into a new market place or need to understand the different national factors you will encounter in managing your workforce internationally. To download the full report, click below: UK Market Snapshot - 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. […]

  • 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. […]

  • Mergers 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. […]