Global Daily News
- Randstad says Q1 conditions tough, some markets bottoming out
Randstad nv, the world’s largest staffing firm, reported challenging market conditions in the first quarter. Client activity remained subdued. Still, there were spots of growth, and the company said it has recently seen some positive economic indicators.“We continued to adapt and respond well in Q1 as market conditions remained challenging,” CEO Sander van ‘t Noordende said in a press release. “While we performed well in Southern Europe, LatAm and Asia Pacific, we encountered softer conditions than expected in North America and Northern Europe.”First-quarter revenue fell 8% year over year on an organic basis to €5.94 billion (US$6.41 billion).Perm fees fell by 21% year over year in the first quarter on an organic basis to €131 million (US$141.4 million).Recruitment process outsourcing fees …
- After strategic review of alternatives, GEE to implement acquisition strategy
GEE Group Inc. (NYSEAMERICAN:JOB), a Jacksonville, Florida-based staffing provider, announced April 22 that a strategic review of the company by its board has been completed. As a result, the company won’t move ahead with any share buybacks. However, it will put in place an acquisition strategy and use available capital to bolster growth both organically and by acquisition.The board unanimously agreed that continuing the company’s “strategic plan for organic growth augmented by recommencing strategic acquisitions executed in a disciplined way is the best approach for maximizing shareholder value at this time,” William Isaac, board member and chairman of the mergers and acquisitions committee, said in a press release.GEE Group began the strategic review process in December 2023.“Despite the …
- Staffing hours edge higher: SIA | Bullhorn Staffing Indicator
US temp staffing hours edged up 1.3% in the week ended April 13, according to the latest SIA | Bullhorn Staffing Indicator report. Commercial staffing hours rose 1.4% week over week, while professional staffing hours rose 0.8%. Click to enlarge.Staffing hours were still down year over year.Read the full SIA | Bullhorn Staffing Indicator online.
- Nursing homes will likely add staff to meet new mandate
The Biden administration on April 22 announced a new rule mandating minimum staffing levels for nursing homes, The Hill reported. And a majority of the country’s roughly 15,000 nursing homes will likely need to add staff to meet the new standards, according to The Hill. Nursing home operators had opposed the new rule. Advocates had argued that nursing home residents are safer and have better care with more staff. The rule will be introduced in phases.
- Breaking barriers and building belonging through LGBTQ+ hiring
LGBTQ+ representation brings a wealth of perspectives and ideas to the workplace. However, there are too many barriers that block LGBTQ+ professionals from experiencing true inclusion and belonging. Wen Charlton Stenger, co-founder and CEO of Omni Inclusive, discusses the challenges as well as what can be done to create an inclusive environment in the upcoming issue of Staffing Industry Review magazine.
- Randstad Q1 revenue slips 8% amid challenging market conditions
Randstad (RAND: NV), the world’s largest staffing firm, today reported revenue of €5.94 billion with organic revenue per working day down 7.8% for the first quarter ended 31 March 2024.On a reported basis, revenue was down 8.9% over the year. Working days had a positive impact of 1.1% while currency effects had a positive effect of 0.8%. M&A & other negatively contributed 0.8%.Gross profit (on an underlying basis, adjusted for integration costs and one-offs) was down 11% on an organic basis, and 12% on a reported basis. Gross margin stood at 20.2%, down from 21.0% the year prior.Underlying EBITA plummeted by 33% on an organic basis to €177 million. According to Reuters, this was below the €181 million expected by analysts on average in a company-provided poll.CEO Sander v …
- Amadeus FiRe Q1 revenue up 3.4% but personnel services down
German-based Amadeus FiRe (AADX:GER) reported revenue today for the first quarter of 2024 of €114.8 million, an increase of 3.4% when compared to the same period a year ago.The group said that as was the case throughout 2023, training revenue continued to develop positively. On the other hand, personnel services revenue was slightly below the previous year's level at the start of the year.Group operating EBITA after the first quarter was 24.3 percent below a strong comparator year. The working days available in the quarter were less than in the previous year, the group noted.The first national Easter holiday week this year was also in the first quarter, with traditionally significantly lower business activities. Despite these effects, the operating EBITA of the Training segment exceed …
- Freelance.com full year EBITDA rises
French talent platform Freelance.com (EPA: ALFRE) reported its full year 2022 results yesterday after markets closed. The audited results showed revenue stood at €857.7 million in FY 2023 against €800.2 million in FY 2022, an increase of 7%. Organic growth stood at 4%.In February, Freelance.com published its Q4 results which also included FY 2023 revenue. The latest results published this week include EBITDA and further profit information.International economic uncertainty and the slowdown in hiring momentum have decelerated the group’s customers' use of freelancers in 2023. When accounting for 12-month business volumes for OpenWork, pro-forma 2023 revenue came to €902.6 million.In France, Freelance.com grew 15%, reaching €583.7 million, buoyed by strong organic growth in th …
- Majority of employees in Spain fear losing their jobs to AI
More than half of employees in Spain (57.9%) said they were ‘somewhat’ or ‘very concerned’ about the impact that AI may have on their workplace within five years, according to the AI and Labour Market study in Spain prepared by Randstad Research in Spain.This percentage breaks down into 27.5% who are “very worried” and 30.4% who say they feel “somewhat worried.”The 58% figure increases over a period of 10 years, when 59.3% of employees say they feel “very worried” or “somewhat worried” about the arrival of AI. Over a twelve-month period, the percentage of concerned workers is 50.1%. The study surveyed 1,500 people.“Although it is a still incipient technology, AI will gradually penetrate companies and impact the way many employees work, which, among other things, poses the challenge of …
- Final conditions met for Groupe Crit and Openjobmetis deal
Openjobmetis and French staffing firm Groupe Crit announced that the final conditions regarding the acquisition plans for the Italian staffing firm have been satisfied.In December, Groupe Crit announced the signing of a Memoranda of Understanding to acquire Openjobmetis. The acquisition would be carried out in cash at a price of €16.50 per Openjobmetis share.In February, Groupe Crit said it finalised the due diligence process regarding acquisition plans for the Italian staffing firm.The French staffing firm signed the transfer agreements on 8 and 22 February 2024, on the one hand with the shareholders of Plavisgas Srl for the acquisition of the company holding 34.14% of Openjobmetis securities and on the other hand with the companies Omniafin Spa, MTI Investimenti Srl, and Quaestio Ca …
- Ramssol Group Q1 revenue and profits rise, appoints COO
Ramssol Group, a Malaysia-based HR solutions provider, reported revenue today of MYR 14.4 million (USD 3.0 million) for the first quarter ended 31 March 2024, an increase of 123.4%. (MYR thousands) Q1 2024 Q1 2023 Change Q1 2024 (USD millions) Revenue 14,423 6,454 123.4% 3.0 Profit before tax 4,534 2,010 125.5% 0.9 Profit for the period 4,104 2,005 104.7% 0.8 The Board of Directors of Ramssol also announced that Liew Yu Hoe, the acting chief operating officer has been re-designated to chief operating officer of Ramssol Group Berhad with effect from 23 April 2024.The group’s subsidiaries are principally involved in the provision of business digitalization, automation, human capital management (HCM) solutions, student management solutions, IT staff augmentation services, and r …
- Singapore-based YY Group announces pricing of IPO
YY Group Holding Limited, a Singapore-based staffing firm today announced the pricing of its initial public offering of 1,125,000 Class A Ordinary Shares at a public offering price of USD 4.00 per share, for aggregate gross proceeds of approximately USD 4.5 million before deducting underwriting discounts, commissions, and other offering expenses.The shares began trading on the Nasdaq Capital Market on 22 April 2024, under the ticker symbol “YYGH” and the offering is expected to close on or about 24 April 2024, subject to satisfaction of customary closing conditions.The net proceeds from the initial public offering are expected to be used for geographical business expansion, marketing and promotion campaigns, product research and development on YY Apps, team expansion by recruiting more IT …
- Majority of companies in Japan plan to raise pay
Approximately 70% of companies in Japan will implement pay-scale increases in fiscal 2024, reports the Japan Times, citing a survey by the Finance Ministry. The survey was conducted from March to April, receiving answers from around 1,100 companies throughout Japan. According to the survey, the proportion of companies planning to raise their pay-scales stood at 70.7%, up by 6.3% from the previous year. The proportion of such companies rose 8.8% to 63.1% among small and medium-sized firms, outpacing a 3.2% increase among large companies.Meanwhile, companies planning to implement pay-scale increases of 3% or more accounted for 59.8%, up 23.4% from the prior year. Companies at which pay-scale hikes and regular pay increases will total 5% or more came to 36.5%, nearly doubling from the previou …
- China creates over 3 million new urban jobs in Q1
China created 3.03 million new urban jobs in the first quarter of the year, completing its corresponding target set in this year's government work report, reports China Daily, citing the Ministry of Human Resources and Social Security. The national urban surveyed unemployment rate stood at 5.2% last month, reflecting overall stability in the employment market, the ministry said.Chen Feng, spokesperson for the ministry, said, the ministry proposed to enhance the employment promotion mechanism; expedite the development of a high-quality, full-employment work system; launch initiatives to boost employment in advanced manufacturing; and hasten the research and implementation of new unemployment insurance policies to aid enterprises in preserving jobs.According to this year's governme …
- India’s hiring landscape sees downturn in March, but gig jobs rise
Online recruitment in India reported a 4% annual downturn in March 2024, according to the latest foundit Insights Tracker.Despite the annual decline, the month-to-month analysis showed a more positive trend, with a 3% increase in hiring activity from February 2024. Overall, the index stood at 276 in March 2024.The Tracker noted a consistent growth trajectory over recent months, with a 9% growth noted over the past six months and a 5% increase over the last three months. “Such trends reflect a cautiously optimistic business sentiment, suggesting a significant shift in attitudes and an ongoing transformation within the job market,” the Tracker stated.Out of 27 industry sectors monitored, nine showed an increase in recruitment activity year-over-year, indicating pockets of growth de …
Latest Research
- SIA | Bullhorn Staffing Indicator – April 23, 2024
US Staffing Rises Slightly Following Spring Break Week ending Apr 13, 2024 Indexed Value Y/Y W/W US Staffing 82 -12% 1.3% Commercial Staffing 69 -12% 1.4% Professional Staffing 117 -11% 0.8% IntroductionReleased weekly, the SIA | Bullhorn Staffing Indicator comprises two sets of analyses; a Year-over-Year comparison showing how the week that ended ten days ago (“last week measured”) compares to the same week 12 months previously and an indexed value that has been benchmarked against data from the week ending January 13th, 2019.Year-over-year changes for the week ending April 13thTemporary staffing hours worked for the week ending April 13th (“last week measured”) were down -12% compared to the corresponding week a year ago, according to the Indicator.Temporary staffing hours completed in c …
- Workforce Solutions Buyer Survey: 2024 Americas Results
When asked to what extent they agree with the following statement: “Our overall practices for our contingent workforce are leading edge”, 31% of participants agreed (we refer in the report to these as “Leaders”), while another 31% disagreed (“Laggards”). Overall, Leaders are significantly more likely to rate their programs as providing a competitive advantage in talent attraction, retention, and ROI compared to Laggards. Respondents reported a median 20% and average (mean) 22% contingent share of their total workforce. Of the services/technologies listed in our survey, the most commonly used is a VMS, with 81% of respondents noting they have one in place. Having a program for diversity suppliers is the most common workforce strategy, in place at 67% of companies. The three-year rolling ave …
- April 2024 Jobs Report
Event: The March Employment Situation, released today by the US Bureau of Labor Statistics (BLS), indicates that total nonfarm employment rose by +303,000 in March on a seasonally adjusted basis, while temporary help services employment declined by -1,300 jobs. The temporary agency penetration rate was 1.74% in, down from a revised February rate of 1.75%. The national unemployment rate declined to 3.8%, from 3.9%.Employment expanded in most industry groups. The group with the largest gain was again Health and social assistance, which added +81,300 jobs; followed by Government, which added +71,000 jobs; and Leisure and hospitality, which added 49,000 jobs. Employment was unchanged in both the Manufacturing and Information sectors. The only monthly decline was in the Temporary help serv …
- Directory of Suppliers to Staffing Firms (Americas)
This interactive report identifies and categorizes specialist Americas headquartered suppliers to staffing firms. Members can use this report to identify suppliers by both category and by geography. With 25 different categories and over 850 firms, the Directory provides a comprehensive range of solutions and services that staffing firms may require to operate their businesses more efficiently and more effectively. Our categories include: Advisors & Consultants Analytics & Benchmarking Candidate Assessment Candidate Engagement Compliance, Payroll & Umbrella Front & Back Office Software Online Job Advertising Recruitment Marketplaces Sourcing Automation Staffing Platform-as-a-Service (SPaaS), full list of categories can be found on the directory tab. If you believ …
- US Staffing Industry Forecast: March 2024 Update
Key Findings: We forecast the US Staffing Industry will decline 3% in 2024 to reach a size of $184.6 billion, as the industry continues to pull back from prior peak levels. If we exclude the nurse staffing segments (that continue to normalize down steeply from pandemic levels), the remaining staffing industry is expected to be roughly flat this year, in aggregate. We forecast industrial staffing to decrease 5% in 2024 while office/clerical holds stable. We project IT staffing to decline 3% and healthcare staffing to decrease 11%, as both pull back from prior peak levels. As brighter spots in the 2024 outlook, we project mid-single-digit growth this year for engineering, life sciences, marketing/creative, and education staffing, as well as for place & search. Looking ahead to 2025, we f …
- UK Internal Staff Survey 2024: Full Report
This report summarizes SIA’s fifth annual survey of the internal staff of UK firms. This latest survey was conducted in late 2023 and implemented in conjunction with the 2023-2024 Staffing Industry Analysts’ “Best Staffing Companies to Work For” competition. Over 600 internal staffing firm employees from 19 UK staffing firms participated.Contents of the current survey and access to individual survey reports Use of AI and other technology by staff, training needed, desired technology Remote work prevalence, preferences, and how to support it Recruiting internal staff: what candidates want, who to recruit, effective methods How to retain internal staff: what drives staff satisfaction and why it matters Internal staff training: what staff want and importance of explaining resources Survey que …
- How To Retain Internal Staff
Staff satisfaction is the key to retention. Among staff giving their firm a net promoter “likelihood to recommend” satisfaction score of 0-4, the share saying they were open to quitting was 100%; that share declined with subsequent score increments, and above a score of 7 the share open to quitting was less than 10%. What drives staff satisfaction? Staff repeatedly emphasize two factors. In multiple survey questions respondents indicate that quality of senior leadership and work environment/culture are top drivers of job satisfaction. Staff offered advice on how management can perform well with regard to each. What else matters? Future opportunities and fairness also ranked relatively highly. Allowing at least some remote work time is important to staff satisf …
- How to Recruit UK Internal Staff
What to emphasize in recruiting: The top three criteria used by UK internal staff to evaluate potential staffing firm employers are: company culture/work environment, career advancement potential, and financial stability. Who to recruit: What matters most in staff candidates is industry experience, energy, cooperation, and personal connections. How to recruit: While active measures account for about half of new recruits, personal recommendations were also very important. And too, a good website helps. Where to recruit: Two-thirds of internal staff were recruited from just six industries. To access the complete report, please select the link below: UK Internal Staff Survey 2024 Recruiting internal staff 20240409 – You do not have permission to view this object.
- Use Of Technology By UK Internal Staff
About half of UK internal staff said they had used AI in their staffing job over the last year. Of those staff that had used AI in the last year, 33% rated it very helpful; 53% rated it moderately helpful; and 14% rated it not very helpful. Internal staff listed seven tasks for which they were using AI: writing emails and texts; writing job descriptions and job postings; resume writing and editing; research, ideas, and brainstorming; search strings; marketing, market research, and content creation; and sourcing/recruiting. Some staff need more technology training. While the majority of staff are confident that they have been fully trained in use of their assigned technology, a significant minority – 18% – say that while technology is key to doing their job well, they are not confident that …
- Directory of Suppliers to Staffing Firms (EMEA)
This interactive report identifies and categorizes specialist EMEA headquartered suppliers to staffing firms. Members can use this report to identify suppliers by both category and by geography. With 25 different categories and over 800 firms, the Directory provides a comprehensive range of solutions and services that staffing firms may require to operate their businesses more efficiently and more effectively. Our categories include: Advisors & Consultants Analytics & Benchmarking Candidate Assessment Candidate Engagement Compliance, Payroll & Umbrella Front & Back Office Software Online Job Advertising Recruitment Marketplaces Sourcing Automation Staffing Platform-as-a-Service (SPaaS), full list of categories can be found on the directory tab. If you believe yo …
- Directory of Suppliers to Staffing Firms (APAC)
This interactive report identifies and categorizes specialist APAC headquartered suppliers to staffing firms. Members can use this report to identify suppliers by both category and by geography. With 25 different categories and over 150 firms, the Directory provides a comprehensive range of solutions and services that staffing firms may require to operate their businesses more efficiently and more effectively. Our categories include: Advisors & Consultants Analytics & Benchmarking Candidate Assessment Candidate Engagement Compliance, Payroll & Umbrella Front & Back Office Software Online Job Advertising Recruitment Marketplaces Sourcing Automation Staffing Platform-as-a-Service (SPaaS), full list of categories can be found on the directory tab. If you believe yo …
- Temporary Staffing Platform Update
Staffing platforms marry technology and processes found in talent platforms (e.g. two-sided digital labor marketplace, ratings systems, algorithmic recruiting, management, and matching) with traditional staffing firm pricing models. The list of major staffing companies with a platform component has rapidly expanded since the pandemic. Today, 12 of the 15 largest staffing firms worldwide have a staffing platform, up from just four in 2019. The worldwide market for temporary staffing platforms reached a scale of $18.0 billion in 2023, a decline of 17% y/y. Despite the decline in 2023, temporary staffing platforms have achieved a 55% CAGR since 2019. Temporary staffing platform segment mix differs considerably from the overall global temporary staffing market. Most notable is the outsized pla …
- Renewable Energy Staffing Global Market Assessment
Globally, employment in the renewable energy industry is estimated to expand 8% in 2024, 9% in 2025, and a further 40% through 2030. We estimate the industry will add close to 10 million new jobs over the next seven years, and many roles will require workers with skillsets that are highly specialized or in high demand, providing great opportunities for companies operating in the workforce solutions ecosystem. Strong demand growth for renewable energy workers stems from ongoing support from both public and private sectors for the transition away from fossil fuels toward electricity with lower carbon footprints. This report analyses the renewable labor market as a whole as well as the markets for specific renewable technologies. Labor markets in the renewable energy sector vary in terms of t …
- Workforce Solutions Buyer Survey 2024: Initial Findings
This report contains initial findings of the 2024 Workforce Solutions Buyer Survey, including survey questions and summary statistics. The survey was conducted in early 2024 and reflects the opinions of respondents from 165 companies with contingent workforce and/or workforce solutions programs globally. A map and table summarizing participant regions appears on page 16. To qualify for the survey, a company must have 1,000 or more full-time equivalent employees (not including contingent workers). Only one respondent per company was used. More detailed analyses of survey responses will be released in separate reports. To access the complete report, please select the link below: Workforce Solutions Buyer Survey 2024 Initial Findings Global 03202024 – You do not have permission to view this o …
- Asia Pacific Legal Update Q1 2024
In this report, we round up the legal developments affecting the workforce solutions ecosystem across the Asia Pacific region in Q1 2024:Australia Changes to classification of employees, casual workers and platform workers in Closing Loopholes No.2 Act Paid parental leave increase from 1 July 2024 Hong Kong Gradual increases to statutory holidays introduced Rule “418” for determining continuous employment set to change Japan Employers’ obligations to notify terms and conditions of employment to change …
