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1Confidential Report – NOT for Distribution | ©2011 Crain Communications Inc. All rights reserved.
Western Europe
13 December 2011
3pm GMT/ 4pm CET
10am PST/ 1pm EST
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Annual Review & Predictions for 2012
Speakers:
Ton Mulders Director Strategic Solutions, Europe
John Nurthen General Manager, Europe
David Papapostolou Research Analyst, Europe
Adam Pode Director of Research, Europe
Sponsored by
2
Annual Review & Predictions for 2012
• Introductions
• Review 2011
• Predictions for 2012
• Q&A– Your questions are welcome!
• Summary/Closure
©2011 by Crain Communications Inc. All rights reserved.
4©2011 by Crain Communications Inc. All rights reserved.
Western Europe Buyer Webinar
Sponsored by
Annual Review & Predictions for 2012
Christine Abbeduto
Global Vice President
Vendor Managed
Services
5
European Staffing Market Growth 2011
• Staffing Industry Analysts’ 2011 forecast for Europe
– +11% revenue growth
• The fast track
– Germany, Italy
– Scandinavia (especially Sweden)
– Sweden identified as the world’s ‘Most Attractive Staffing Market’
with Poland 3rd
• The laggards
– UK, Portugal, Spain, Ireland
©2011 by Crain Communications Inc. All rights reserved.
6
The Waves Swamping Europe
©2011 by Crain Communications Inc. All rights reserved.
-60%
-40%
-20%
0%
20%
40%
60%
Euronext Year over Year Performance
Euronext 100
7
The Waves Swamping Europe
Source: Staffing Industry Analysts, ABU Netherlands, Pole Emploi France, BAP Germany
©2011 by Crain Communications Inc. All rights reserved.
-60%
-40%
-20%
0%
20%
40%
60%
Year-over-year Change in Hours Worked for Selected Countries
France Netherlands Germany European average (+CH) Euronext 100
8
Listed Staffing Companies’ Performance
• Q3 median growth
– Revenue up by 17.5%
– Net income up 39.7%
– Gross margin for top ten down -0.8%
• +40% revenue growth
– Wise Group
– RTC Group
– DLSI
– Staffline
©2011 by Crain Communications Inc. All rights reserved.
– Hydrogen Group
– Uniflex
– Brunel International
9
Legislation
©2011 by Crain Communications Inc. All rights reserved.
• EU Temporary Agency Work Directive
– Failures to transpose
• Infraction proceedings
– Post-deadline expectations
16 Member States not in line with the EU 1% transposition target
10
Legislation
©2011 by Crain Communications Inc. All rights reserved.
• Agency Workers Regulations
– UK
• 12 week qualifying period
• Swedish derogation
• Bringing temporary staffing in-house
• Government review of AWR in 18 months
– Ireland
• Social partners fail to agree
11
Legislation
• Germany
– Minimum Wage for Temporary Workers
• France
– Removal of low wage subsidy
• Czech Republic
– Ban on non-EU temporary workers from 2012
©2011 by Crain Communications Inc. All rights reserved.
13
European Staffing Company M&A
• 118 staffing company deals in 2011
– Professional staffing more attractive than blue collar
– IT, healthcare staffing: 20% of all deals
– Trans-border deals: 20% (2/3 trans-continental)
• Non staffing deals: homecare services and
software providers
©2011 by Crain Communications Inc. All rights reserved.
14
European Staffing Company M&A
• Recent significant deals
– Randstad: SFN (USA)
– Adecco: Drake Beam Morin (USA), Medic (DE), Trainico (DE)
– Allegis: Aston Carter (UK-IT)
– Droege Capital GmbH: Trenkwalder (AT)
– ManpowerGroup: Proservia (FR)
– Gi Group: right4staff (UK)
©2011 by Crain Communications Inc. All rights reserved.
15
European Staffing Company M&A
• Recent significant deals
– Synergie
• 2011: Draig Personnel (UK), GMW (Germany)
• 2010: Olympia (Portugal & Spain)
– Groupe Crit
• 2011: Peoplelink (US)
©2011 by Crain Communications Inc. All rights reserved.
16©2011 by Crain Communications Inc. All rights reserved.
Global MSP/VMS Market 2010 (no double count)
0
10
20
30
40
50
60
70
MSP VMS
€B
illi
on
Own VMS
3rd Party
VMS
None/other
Own MSP
3rd Party
MSP
Client
Resource
No detail
€57bn
€37bn
a)b)
a) + b) =
> €63.2bn
> $83.7bn
Source: Staffing Industry Analysts – VMS/MSP Landscape Report 2011
17
Europe
22%
(€14bn)
Rest of
World
78%
(€49bn)
©2011 by Crain Communications Inc. All rights reserved.
Europe: >22% of Global MSP/VMS spend 2010
Global
> €63bn
* Fieldglass and Lumesse not regionally specified
Europe*
> €14bn
Source: Staffing Industry Analysts VMS/MSP Landscape Report 2010
18©2011 by Crain Communications Inc. All rights reserved.
MSP/VMS Trends
* Source: Staffing Industry Analysts – VMS/MSP Landscape Report 2011
• Growth
• Gaining market share
• Consolidation
• Diversification
20
Predictions for 2012
• Demand for contingent labour not as strong
as in 2011
– But still positive despite economic uncertainty
– Skills shortages in Germany
– UK; a market of conflicting trends
– Potential pick-up in demand for professional/
executive skills
©2011 by Crain Communications Inc. All rights reserved.
23©2011 by Crain Communications Inc. All rights reserved.
Western Europe Buyer Webinar
Sponsored by
Annual Review & Predictions for 2012
Christine Abbeduto
Global Vice President
Vendor Managed
Services
24
SAVE THE DATE!SAVE THE DATE!
15-16 May 2012
Lancaster Hotel, London
www.cwssummitwe.eu
© 2007-2011 The London Organising Committee of
the Olympic Games and Paralympic Games Limited
©2011 by Crain Communications Inc. All rights reserved.
25
Next European Webinar
The Agency Work Directive: What Happened?
Sponsored by Beeline
Wednesday 25 January 2012
9am EST / 2pm GMT / 3pm CET