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Staffing Industry Analysts has, today, published its ranking of the largest staffing firms in Europe. The criteria for appearing in this ranking was revenue in excess of €100 million derived from Europe in 2011 and a total of 105 staffing firms qualified. Interestingly, when the list was last published (based on 2008 revenues) the ranking comprised 113 firms.
Staffing Industry Analysts estimates that the European staffing market was worth approximately €108 billion in 2011. The firms on our Largest European Staffing Firms List had total revenues of €75 billion in 2011, therefore represent 70% of all European revenues. The top three companies have a market share of 36% but the European market remains very fragmented outside this group.
Adecco is clearly the largest staffing firm in Europe with a market share of 14.5%. The company has extended its market position over second-placed Randstad (11.5%). When the 2008 European rankings were published, the two companies had almost the same revenue derived from Europe whereas, in 2011, it is estimated that Randstad is 79% the size of Adecco in Europe in terms of revenue. Over the same period, the revenues of third placed ManpowerGroup have remained almost the same giving the company a current market share of 9.6%.
Many staffing companies have struggled to reach the same level of revenue they achieved in Europe in 2008, prior to the global financial crisis. 37% of staffing firms featured in the list have lower revenue than in 2008 and have not yet recovered to pre-financial crisis levels. Nevertheless, the average growth rate for companies that featured in both 2008 and 20011 lists was +14% over the three year period.
20 firms have appeared in the ranking for the first time and the report highlights the fastest growing among these.
Staffing Industry Analysts’ rankings consist of commercial firms that perform one or more of the following services: contingent staffing (e.g. temporary staffing, contracting); direct hire (e.g. permanent placement, executive search); outplacement; process related services (e.g. managed services, recruitment process outsourcing, and payrolling).