The Adecco Group outlined an update to its financial goals, saying it was targeting faster organic growth and wanted to grow four times faster than global GDP by 2020, up from three times global GDP previously.

The group laid out its strategy during Capital Markets Day in London with details on key initiatives within its ‘Perform, Transform and Innovate’ strategic agenda.

CEO Alain Dehaze stated, “Two key pillars underpin our strategy. Our GrowTogether programme will drive revenue growth and strengthen profitability by transforming the core of the business. Our Digital Ventures will capture new revenue opportunities and enhance profitability by expanding our activities into higher-margin 'new frontiers'.

Hans Ploos van Amstel, Group CFO, presented updated financial commitments. These commitments are:

1. Accelerate structural organic revenue growth, and increase the revenue growth GDP multiplier from 3x to 4x by 2020
2. Achieve sustained EBITA margin improvement, and deliver SG&A productivity savings of EUR 250 million per annum by 2020 (a 100bps reduction in SG&A/revenues);
3. Maintain our progressive dividend policy, even in a recession, and deliver continued strong free cash flow while making strategic investments.

The group also presented examples of digital innovation including Adia, a mobile-first, end-to-end platform that enables employers to easily request temporary staff for hourly or daily assignments; it was developed in close collaboration with Infosys. The group also presented Mya, an AI-enabled chatbot that automates outreach, screening, and communications with jobseekers. The Adecco Group stated that with its global partnership agreement with Mya Systems these tools will be integrated into their solutions.

Furthermore, the group stated how virtual reality recruiting from Penna and legal eDiscovery from managed data firm D4 demonstrate “how our selective acquisitions add new capabilities that we can leverage across our businesses.” Meanwhile, Adecco Analytics and Lee Hecht Harrison's Active Placement “show how we harness the entrepreneurial spirit within the group to drive innovation.”

 The Adecco Group provided an update on current trading. In July and August, revenues increased by 6% organically and trading days adjusted, in line with the trend in Q2 2017. So far in September, volume growth indicates a continuation of this trend.

"We have a clear vision for the successful future of the Adecco Group,” Dehaze, said. “The megatrends shaping our industry bring exciting new opportunities for profitable growth. With our strategic agenda to Perform, Transform and Innovate, we will capitalise on these opportunities. By strengthening the core of our business and leading in digital innovation, we will accelerate growth, enhance our margin and deliver increased total shareholder returns."