2013 Global top50 hr service providers ranking and whitepaper by HRoot
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  • 1. 2012, a year of weak global economic recovery Makes Move Against Changes On the global human resources services market of 2013-2013 The year 2012 saw a bumpy ride of the recovery of world economic Fiscal tightening, financial turmoil, market vulnerability have made investment, employment, manufacturing, and many other economic indicators show no signs of improvement. In its “World Economic Situation and Prospects 2013-Update as of Mid-2013", the United Nations points out that, as the world economy is still facing the euro zone debt crisis, the U.S. Is facing fiscal cliff and some developing countries are slated for hard landings, and may of them are continuing to be affected by quantitative easing measures of developed countries. Therefore, although the overall scenario has improved, no significant improvement has been seen economic growth; the economic growths show significant gaps between different regions and countries,. Meanwhile, the world gross production (WGP) is expected to pose a growth rate of 2.3% in 2013, 0.1% lower than expected at the beginning of the year. Over the past few years, the lingering, synchronized global economic slowdown has been replaced by measurable growth, yet recovery remain weak and is characterized by it diversity." In line with the weak global economic recovery, the performances of the global human resources markets are also uneven, while the ranking list of "HRoot Global 50 Human Resources Services Providers" reflects the vicissitudes. Similar to the cases in 2012, all the 50 companies on this year's list have posted growth in revenue in fiscal 2012. Among them, On Assignment, focusing on talent placement, and Workday, a human resources software company, respectively post 107.6% and 104.2% in revenue growth, making them most eye-catching two companies. In addition, it is worth mentioning that, despite the complex economic environment, CIIC still achieved a revenue growth of 18.9%, ranking the eighth in the list, and making it an indisputable leader in China's human resources services. Judging from the indicator of "operating profit", there are 40 enterprises on this year's Global 50 list that have proved profit-making, a figure being a slightly lower than last year’s 44. Among them, there are 33 companies that have turned up net profit. Overall, compared to other industries, this year's global human resources services industry is arguably a tough survivor from the turmoil. Corporate earnings of Global 50 HR Service Providers in fiscal 2012 (operating profit) Corporate earnings of Global 50 HR Service Providers in fiscal 2012 (net profit) 1
  • 2. Acquisitions in the industry: a trajectory In line with the volatile global economy, the "HRoot Global 50 Global Human Resources Services Providers” list telegraphs the tears and cheers of related companies: A total of four companies have made their debut on the list, while four other companies on last year's list have been flunked out, including Talent2, the largest human resources business process outsourcing and management service organizations in Australia (the 39th on the "HRoot Global 50 Global Human Resources Service Providers 2012”), announced on September 13, 2012 to form joint venture with Allegis Group , the third largest staffing company in the U.S., in an effort to enhance the ability to provide worldwide customers with recruitment and human resources outsourcing services. In addition, the integrated human resources services provider Kenexa was acquired by IBM in August 2012 at $1.3 billion, a move that increased IBM’s competitiveness in the field of social media. Among the companies making debut on the list, the human resource software developer Workday is arguably a subversive one to the tradition. Workday is an American online human resources software developer, co-founded in 2005 by Aneel Bhusri and Dave Duffield, mainly relly on cloud-based software deployment model to help companies manage human resources and finance. Workday has deep-rooted connections with Oracle, and it staged a living scene of counter-attack in dire straits. The two co- founders were once at the helm of PeopleSoft, corporate applications software. After Oracle made hostile acquisition of PeopleSoft, the two people left PeopleSoft; meanwhile, they predicted that within a decade, the great migration from the personal computer to the clouds would take place in the software industry. Basing on this concept, the duo formed Workday in 2005. Facts have proved that the foresight of the two. The rapid development of Workday has translated into a staggering operating income that has reached billions of dollars, and the company has turned profit-making several times. On October 12, 2012, Workday went public through initial public offering. It sold nearly 2,800 million shares at the price of $28 per share, raising nearly $637 million dollars. The deal leads to the estimation of market value of Workday to hit 4.5 billion U.S. dollars. Analysts said that since the Facebook IPO on May 18, this has been the largest IPO in the technology industry. Currently, Workday is serving nearly 300 enterprises, and its user base poses an annual growth rate close to 100%, of which about half are from the companies’ competitors such as Oracle or SAP. In Fiscal 2012, Workday's revenue hit $274 million; among them, its revenue underwent "explosive growth" in the fourth-quarter, reaching $81.5 million, an increase of 89% over its revenue in the same period in the previous year. This has made Workday the fastest growing human resources software company, and has secured the company’s position on the Global 50 list, ranked as No. 44. In addition, it is worth mentioning that Recruit, a company that makes its debut in the Global 50 ranking list, is Japan's largest human resources and consumer internet. It is also the largest shareholder of 51job, China’s largest online recruiting agency. According to public information, as of the first quarter of 2011, Recruit held 41.2% of the shares of 51job. Recruit reports an annual revenue exceeding 800 billion yen, and it is also the parent company of Indeed, a representative of the search -recruitment model, which it acquired in September 2012. In fiscal 2012, Recruit ‘s revenue reached 10.083 billion U.S. dollars, an increase of 7.2% in year-on- year profit, while its profit has grown by 14.3% over that of the previous year, and is ranked No. 5 on this year’s Global 50 list. Ranking in 2012 Company Country Main business Reason of absence 39 talent2 Australia HR outsourcing Acquisition 40 Kenexa US HR management software Acquisition 48 The ReThink Group US HR outsourcing Not clear 49 Saba Software US HR management software Not clear Table 1 Previously listed companies absent from the "HRoot Global 50 Global Human Resources Service Providers 2013” Table 2 Companies making debut on the “HRoot Global 50 Global Human Resources Service Providers 2013” Ranking in 2013 Company Country Main business Revenue in Fiscal 2012 (USD, million) 5 RECRUIT Japan Headhunting and recruitment process outsourcing 10,083 12 usg people The Netherlands Talent dispatch/lease/placement 3,695 44 workday US HR management software 274 52 Cornerstone ONDEMAND US HR management software 118 GLOBAL 50 HUMAN RESOURCES SERVICE PROVIDERS 2013 Executive Summary 2
  • 3. In the "2013 Global 50 Human Resource Services Providers” ranking list, Adecco, Randstad , ManpowerGroup, and ADP firmly occupy the positions of top four. Affected by the global economic downturn, in fiscal year 2012 the operating incomes of Adecco, Randstad, ManpowerGroup are lower than the figures in fiscal 2011. However, the three companies have achieved positive growth in operating profit. In contrast, ADP’s performance is particularly rosy. In fiscal 2012, ADP achieved positive growth in both revenue and operating profit, securing its ranking as the fourth on the list; as of March 31, 2012, ADP's market capitalization was registered $30.96 billion, outnumbering all other human resource service providers in the world, testifying to the strong growth of human resources outsourcing. In contrast, the performances of human resources consulting firms in fiscal year 2012 performance faired less perfect. In the 2013 Global 50 list, Aon Hewitt and Mercer regrettably fell out of the top ten, while the ranking of Towers Watson (No. 13) is lower than it was last year. It is worth mentioning that, Resources Global Professionals, boasting its 12.8% growth rate of its operating profit, has muscled its way into the top ten companies in profit growth in Fiscal 2012, becoming the fastest growing human resources consulting company. With the rise of social networking recruitment, traditional online recruitment model in the form of job board is showing signs of declining. But in China, due to the strong market demand, companies of the job board online recruitment are still able to maintain a certain growth mode for quite a long time. Among them, the financial performance of 51job continues to maintain a steady upward trend. In Fiscal 2012, the revenue of 51job reached $240 million, a year-on-year increase of 9.9%, while its operating profit increased by 32.1%, making its rate of profit increase the second on the Global 50 ranking list, only behind that of Paychex. After the acquisition of ChinaHR, its market share was taken over by 51job and Zhaopin. Consequently, in January 2013, its parent company, the Australian recruitment service provider Seek Limited, spent $105 million to increase its stake in Zhaopin, to increase its stake from 55.5% to 72.3%. In addition, Seek Limited is also the parent company of JobDB, another Chinese online recruitment agency. Affected by the uncertain economic situation of the world, the average annual revenue growth rate of the HR outsourcing industry in 2012 has declined to 11.4% from 16.4% in 2011. However, on the Global 50 list, Paychex and ADP post operating margin up to 38.3% and 20.9% respectively, leading the pack in the human resource outsourcing industry. Among them, Paychex still topped the list in terms of operating profit growth, making it the world's fastest growing company in the 2012 fiscal year. In addition, the development momentum of recruitment process outsourcing business proves to be very strong. According to "2012 Global RPO Report" released by the Everest Group, in 2011 the capitalization of the global RPO market reached $1.6 billion, showing an annual growth rate of over 25%; the North American market continued to grow, while the size of the market in Europe and Asia are growing fastest. The world's leading RPO providers have entered the Chinese market, and actively flexing their muscle in expansion. The rise of social networks makes the recruitment industry undergo tremendous changes, leaving traditional recruitment network under severe challenges, while executive search industry was the first to be hurt. In the face of such a plight, Renrenlietou join the headhunting industry with its crowdsourcing model. The so-called crowdsourcing model is a new forms of production that the Internet has brought, namely the enterprise use the Internet to distribute its tasks, discover new ideas or solve technical problems. With the control via the Internet, these organizations can take advantage of the creativity and ability of an army of volunteers who have the skills to complete the tasks, willing to work in their spare time, and satisfied with the moderate or zero immediate reward, or are just satisfied for getting more rewards in the future. For the software industry and the service sector, crowdsourcing provides a new way to organize labor. Through crowdsourcing, the company announces the vacancies, and everyone can recommend candidates, a practice that will maximize the efficiency of recruitment, or in other words, everyone becomes a headhunter. The crowdsourcing model to create a new model of corporate recruitment, companies need to seize new wave of crowdsourcing model, can help enterprises to continue to attract the best talent, talent performance optimization, developing human potential, talent management, reduce compliance risk. In addition, as mobile devices increases, employment groups younger, the era of mobile learning, learners achieve anytime, anywhere learning goals fragmentation, and collaborative learning, social learning into the mainstream. These new technologies and concepts have turned learning from the static, instructor-based, traditional classroom training mode into a dynamic, learner-oriented, real-time, interactive learning experience that can happen anywhere. Given this trend, the site Skillshare emerged on the scene. On the Skillshare platforms, each person can either become a teacher or a student. In this mode, everyone can provide training resources can have an important impact on corporate culture in the future. Uneven development of the industry Average year-on-year revenue growth rate of HR service outsourcing industry GLOBAL 50 HUMAN RESOURCES SERVICE PROVIDERS 2013 Executive Summary 3
  • 4. 2011 2012 Year-on-year increase Gross operating income 522.1 972.3 86.3% Income of HR solutions 260.8 523.6 101% Social media recruitment has a bright future LinkedIn is on the Global 50 list because since fiscal 2011, recruitment services have generated more than 50% of its total revenues. As its recruitment business have generated over 50% of total revenue, a fact that comply with the standards to be included in the list, therefore it appear on the Global 50 list as an online recruitment agency. In the 2012 fiscal year, LinkedIn’s revenues grew by leaps and bounds, and reached $972 million, an increase of 86.3% over the US $522.2 million in 2011 while its profits increased by 119%, being ranked the 26th on the list. Its talent solutions pulled in revenues of $523.6 million, accounting for 53.8% of those of its overall business, showing an increase of 101%, or in other words, which have doubled. In addition, the first quarter of 2013, LinkedIn's revenues mainly come from the following three sections: Paid subscription services (generating 20% of its total revenue); marketing programs (23% of total revenue); and talent solutions (57% of its total revenue). Meanwhile, LinkedIn reported revenues of $324.7 million in the first-quarter of Fiscal 2013, a year-on-year increase of 72%, making it the fastest growing company in 2013 among fast-growing technology companies in the United States. In May 2013, LinkedIn’s share price closed at $175.03, a record high since its IPO in May 2011. In May 2011, LinkedIn's IPO price was $45, while its current share price almost quadrangle. The industry believes that, LinkedIn’s “Recruiter” and talent solutions provide a platform of high value for recruiters; based on the powerful network effect, strong revenue-generating capacity and the ability to rapidly develop innovative products, LinkedIn has a very strong competitive edge among competitors in the circle. "In 2008, LinkedIn had 33 million users, and now the number is seven-fold. The revenue of LinkedIn in 2013 year is expected to be close to $1.5 billion. The profit of LinkedIn is also steadily increasing. Analysts expect that LinkedIn's net profit this year will show an increase of about 20 percent, to 26 million U.S. dollars. Pitted against the rapid development of professional social networking sites, traditional online recruitment agencies are obviously overshadowed. In Fiscal 2012, the revenue of the traditional online recruitment site Monster was registered $890 million, showing a decline from $1.04 billion in 2011, down 14.4 percent. In addition, according to its latest financial result, Monster’s revenue in the first quarter of 2013 was $212 million, down 9% from $234 million in the same period the previous year. Meanwhile the financial result of Monster in the third quarter of 2012 shows that its revenue was still below the market expectations, down 10.5% to $222 million, a net loss being a whopping $194.2 million. One major reason is the three-quarter earnings included a loss of $233 million brought by ChinaHR, and the amount of loss forced Monster to give up its China businesses. Meanwhile, in 2013 Monster announced that it will consider "strategic choice" to enhance its shareholders value. This "strategic choice" includes a lot of internal options, and potential sales of the company to increase its shareholder value. In addition to the sales of ChinaHR, Monster will give up its business in Brazil, Mexico and Turkey. Social networking has changed the recruitment industry's marketing, business and product models, and its impact on the traditional online recruitment is becoming increasingly evident. According to the Global Employee Survey Index" released by Kelly Services, a U.S. human resource service provider, in 2012 employers using social media accounted for 89% of the total, 55% of employers will increase investment in social media recruitment. In China, 21% of the employees use social networks to find jobs. In the face of the huge impact social networking sites, traditional online recruitment agencies need to adjust their directions and undergo changes, break the bottleneck of the homogenization, so that they can attract long-term users. Only by doing can they survive from the battle. 2010-2013 LinkedIn Revenue Composition Source: Annual report of LinkedIn Financial figures of LinkedIn(Unit:$, million) GLOBAL 50 HUMAN RESOURCES SERVICE PROVIDERS 2013 Executive Summary 4
  • 5. In response to the threat posed by SaaS providers, in recent years, traditional software giants have also tried to catch up, even shelled big money into acquisitions. In December 2011, SAP spent $3.4 billion on the acquisition of the cloud-based human capital management solutions leader SuccessFactors. SuccessFactors is the human resources software industry pioneer of the SaaS model, and it has 40 years experience in intellectual innovation, customer successes and experience in on-demand solutions and prefabricated solutions. In February 2012, Oracle will talent management cloud service provider Taleo bag, purchase price of $1.9 billion. Oracle's acquisition of Taleo is intended for business users to establish a more comprehensive talent management cloud solutions to help companies retain talent, improve operational efficiency, through social media and other ways to help employees in the process and teamwork more good to grow. In August 2012, IBM spent $1.3 billion on the acquisition of Kenexa, a cloud-based HR software provider committed to helping customers improve recruitment efficiency, improve employee productivity and retention rates, and improve managerial decision-making. In the human resources software market, SuccessFactors, Taleo, Kenexa, Workday, etc., have adopted the cloud-based SaaS platform to achieve corporate talent management, which has make them become subjects of acquisition by SAP, Oracle, IBM and other software giants. In addition, customer relationship management solutions leader Salesforce.com also jointed in the competition in the field of human resources software by acquiring performance management software provider Rypple, a provider of cloud-based software that relies on using a social model of human resources. It is able to provide a range of features, from goal setting, giving feedback to striking up dialogues between employees and their directors. In addition, on the Global 50 list, Cornerstone ONDEMAND, Ultimate SOFTWARE, ClickSoftware also boast commendable performances. Cornerstone is an American company that provides cloud-based talent management software solutions for leading enterprises. In Fiscal 2012 it reported revenues of $118 million, an increase of 61.5% from $73 million in 2011, justifying for its position in the Global 50 (ranked No. 49). In March 2013, Gartner Inc.’s Talent Management Suite Magic Quadrant report featured Cornerstone in the "leader quadrant." In addition, in the “Forrester Wave: Talent Management" report of First Quarter 2013 released in March 2013, Cornerstone also has appeared in the "leader" column. Ultimate Software is an American cloud-based SaaS (Software as a Service) company, whose main application area is human resources, from recruitment to retirement offers a range of human resource solutions. Fiscal 2012 revenues of $332 million, with $269 million in 2011 compared to revenue growth of 23.4%, in the Global 50 2013 list, ranked No. 42. ClickSoftware is Israel a service-oriented industry, human resource management and optimization software products and solutions provider, the company through licensing its software products and provide consulting and support services for revenue. Fiscal 2012 revenues of $100 million, with $087 million in 2011 compared to revenue growth of 14.9%, in the Global 50 2013 list (ranked No. 50). From Cornerstone to Clicksoftware then Ultimate Software, cloud-based SaaS companies already dominate the field of human resource services, the era of the cloud lifted from the fundamental transformation of human resources of the big screen. Cloud computing and SaaS software can help human resource managers focus on core business, improve flexibility and effective cost control strategies to maximize the value of play. According to Forrester estimates that the cloud computing market will grow from 2011's $40.7 billion in 2020 to grow to 2,410 billion U.S. dollars, embrace cloud computing and SaaS is becoming a trend. It is foreseeable that the future of cloud computing, mobile devices aggregation, social networking and other new technologies in the field of human resources will lead the new wave of change. Given the uncertainty in the global macroeconomic environment, the global M & A activities slowed down in 2012. Under the global economic downturn pressure, China's economic growth rate fell slightly. Meanwhile, the European debt crisis, the global real economy is facing downward pressure, increasing the uncertainty of economic recovery, which become an obstacle to corporate mergers and acquisitions. However, in stark contrast, in the human resources market M & A is still the key word. In 2012, global HR industry M & A activities were very active, and many human resources companies are looking to enter a new geographic and suitable business to accelerate growth. Among them, the online recruitment industry mergers and acquisitions can be described as turbulent. September 2012, Japan's human resources and information services company acquired the famous North American Recruit career site Indeed.com. October 2012, online recruitment firm Dice Holdings invested U.S. $20 million purchase of Geeknet's online media business, including Slashdot and SourceForge website. February 2013, the Irish online recruitment company is still Dragon Group (Saongroup) announced a partnership with the United States signed a purchase agreement, Monster, Monster's acquisition of ChinaHR 90% of the shares. For these companies, seize the opportunity, contrarian merger is the best way for business expansion. New technologies reign supreme Mergers and acquisitions gain momentum GLOBAL 50 HUMAN RESOURCES SERVICE PROVIDERS 2013 Executive Summary 5
  • 6. On the Top 50 list, in addition to the list of 50 companies, there are some industry giants could not be included in the list due to various reasons. However, the performances of these human resources service providers are no mean feat, and they are driving forces of the global human resources industry nonetheless. Allegis Group is ranked first among human capital management companies in the United States, and it is the world's largest IT staffing and human capital management company. In addition, it is also the world's fifth largest human capital management company; in 2011 its total revenue was $8 billion. Over 50% customers of ALLEGIS come from FTSE100 companies and 90% of them are Fortune 500 companies. Indeed is the world's largest recruitment search engine. In 2010, according to the market research firm comScore, Indeed outflanked Monster for the first time, and became the largest job search site in the United States. Currently, it boasts traffic of visits that is equivalent to that of Monster and CareerBuilder combined. In January 2013, Indeed announced its monthly visitor reached 100 million. In 2012 it was acquired by the Japanese company Recruit; its profit-making model is similar to those of Google. Glassdoor is a professional community site that mainly provides reviews, compares salaries and posts jobs and other services. Glassdoor transforms recruitment sites into community-based job sites that communicate among users to solve the problem of information asymmetry in the recruitment process. In 2012, the growth rate of Glassdoor's revenue hit 175%, mainly driven by display advertising, providing accurate delivery of jobs information, tailoring special page for employers, competitor analysis, and other tools. The Global 50 ranking list still uses the DuPont analysis, considering enterprise ROE as the product of a number of financial ratios, which is helpful with in-depth analysis and comparison of business performances. By a number of ratio that evaluate the business efficiency and financial condition which intrinsically linked organically combined to form a complete index system, and ultimately through the consolidated ROE to reflect. In this ranking, the four dimensions of the 10 indicators selected for comparison, in-depth analysis of the human resources services operating conditions. Time Particular May 2012 Global networking site LinkedIn announces acquisition of professional content sharing community SlideShare for US$118.75 million Jul. 2012 Leading membership-based consulting firm Corporate Executive Board (CEB), announces to acquire the British talent assessment company SHL for US$660 million in cash Aug. 2012 IT and business solutions company IBM has agreed to spend $1.3 billion on the acquisition of Kenexa, a recruitment and talent management software and services provider Sept. 2012 Korn/Ferry International acquires Global Novations, LLC., a Boston-based global leadership development solutions provider Sept. 2012 Talent management solutions provider Talent2 and U.S. human resource services provider Allegis establish a joint venture Sept. 2012 Recruit, a Japanese human resources and information services company, acquires the North American professional website Indeed.com Oct. 2012 Online recruitment firm Dice Holdings invests US$20 million on the purchase of Geeknet, an online media company, including the websites of Slashdot and SourceForge Nov. 2012 Leading American human resources solutions provider Insperity announces acquisition of time and attendance solutions provider Sage TimeSheet Dec. 2012 Korn/Ferry International announced the acquisition of a leading global leadership solutions provider in Minneapolis PDI Ninth House Feb. 2012 Irish online recruitment company Saongroup announces a deal with the Amercian company Monster Group to acquire 90% equity of ChinaHR Mar. 2013 Performance, knowledge and learning management solutions provider NetDimensions spends US$3.5 million on the acquisition of the online learning and compliance solutions provider eHealthcareIT Table 2 Major Mergers& Acquisition events in the HR industry worldwide, 2012-2013 GLOBAL 50 HUMAN RESOURCES SERVICE PROVIDERS 2013 Executive Summary 6
  • 7. Table 4 Financial analysis indicators used in the “HRoot Global 50 HR Service Providers 2013” Competence indicator Financial ratio Formula Operating capacity Annual revenue growth rate (Current revenue - on revenue) / on revenue Total asset turnover ratio Revenue / average total assets Accounts receivable turnover ratio Revenue / average accounts receivable balance Return on assets (ROA) Net profit/average total assets Profitability Operating margin Operating profit/revenue Net profit margin Net profit/main business income Return on shareholder’s equity (ROE) Net profit/shareholders' equity Financial structure Debt-asset ratio Liabilities/total assets Solvency Current ratio Current assets/current liabilities Times interest earned(TIE) EBIT/interest expense First, by comparing revenue growth, total asset turnover, accounts receivable turnover, asset margin four indicators to measure the viability of the enterprise. Among them, the annual revenue growth reflects increases and decreases in revenue. Total asset turnover reflects the overall assets of the enterprise operational capacity. In general, the total asset turnover faster, the stronger operational capabilities. Accounts receivable turnover ratio illustrates the company within a certain period the average number of accounts receivable into cash. The Top 50 rankings, On Assignment and workday to 107.6% and 104.2% of the revenue growth to become the fastest-growing companies, and human resource management software places the growth rate of 35.1% become the fastest growing industry revenue. In addition, CIIC the company's total asset turnover was flat with 2012, continue to maintain 8.4, second only to the company's 11.4 Corporate Resource Services, and accounts receivable turnover rate as high as 152.2, showing the CIIC uncertainty in the economic environment of robust operational capability. Secondly, operating margin, net profit margin, return on net assets three indicators reflect the company's profitability. Among them, the ROE reflects the profitability of shareholders' investment funds, corporate finance, operations and other activities with a DuPont analysis of the most important indicators. From the list view, Japan's Fullcast Holdings Company ranked first by 22.2%, while the future worries (51job) ranked second with 17.6%. In addition, from the sub-industry perspective, online recruitment industry with 9.7% ROE companies come out on top. Finally, the current ratio, interest coverage has been reflected in the company's solvency. Among them, the current ratio indicates that short-term solvency of companies, while enterprises have been used to measure the interest cover long-term solvency. In general, the higher the interest earned multiples, the stronger the corporate long-term solvency. In this ranking, ADP and CIIC to 276.6 and 174.0, respectively, the interest coverage ratio has been a long-term solvency of the strongest companies. In addition, the Top 50 list also introduces the concept of the industry average value for the field of human resources services to provide different industries the benchmark. This method can be more intuitive and objective for investors to determine the human resources services institution's financial position overall level of risk they face reveal the size and growth. In this list, the industry average is 59 enterprises on human resources outsourcing, temporary staffing / Lease / placement services, executive search and recruitment process outsourcing services, human resources consulting, human resource management software, online recruiting division of industry classification, various financial ratios mean. By various indicators of human resources services and comparative analysis of the industry average, giving composite score, according to grade level to assess its financial level, which reflect the company's profitability in the industry. GLOBAL 50 HUMAN RESOURCES SERVICE PROVIDERS 2013 Executive Summary 7
  • 8. Meanwhile, in the calculation of the exchange rate, this list still uses local currencies and the U.S. dollar average exchange rate for the year, an exchange rate calculation method adopted by Fortune magazine in its workout of the Global 500 ranking. We convert the company’s sales revenues into U.S. Dollar amounts before working out the final sorting: This algorithm excludes the impact of annual changes in interest rates on rankings, and hence minimize the likelihood of errors. In 2013, the world economy will slowly recover in turmoil, and enterprises will still face more complex environmental challenges. The general global economy has improved, but its downside risks and uncertainties still exist. In the future, the global competitions of human resource management will meet head-on with such challenges as economic globalization, information proliferation on the Net, popularization of knowledge, talent internationalization and extensive changes to corporate management. In this situation, corporate human resources managers need to continuously upgrade their maturity so as to adapt to requirements on organizational survival and development brought by globalization. In an era of globalization, the market environment is so complex that organizations of human resources services need to judge situations, make timely change, constantly stimulate endogenous power, so as to harness the uncertainty of future competition, and create their own unparalleled competitive advantage. Table 5 Financial ratios averages by industry in the “HRoot Global 50 HR Service Providers 2013” Industry Financial Ratio HR service outsourcing Talent dispatch / lease / placement Headhunting & RPO HR consulting HR management software Online recruitment Annual revenue growth rate 11.4% 9.7% 2.4% 35.1% 19.1% 4.3% Total asset turnover ratio 3.2 3.5 2.5 0.8 0.7 1.0 Accounts receivable turnover ratio 22.5 15.0 7.2 4.2 11.2 5.3 Return on assets 5.2% 2.3% 0.5% -5.0% 5.1% 7.0% Operating margin 7.8% 4.4% 3.4% -12.6% 18.4% 12.2% Net profit margin 4.9% 0.9% 1.5% -10.4% 6.4% 7.4% ROE 19.5% 1.5% -3.4% -11.5% 5.3% 10.9% Debt-asset ratio 58.3% 53.8% 45.8% 51.3% 37.6% 34.6% Current ratio 1.3 1.8 1.9 2.1 2.1 2.6 Times interest earned 180.0 8.8 28.5 / 8.8 / GLOBAL 50 HUMAN RESOURCES SERVICE PROVIDERS 2013 Executive Summary 8
  • 9. GLOBAL 50 HUMAN RESOURCES SERVICE PROVIDERS 2013 Ranking higher/ lower Rank 2013 Rank 2012 Company Logo Country Main business Total revenue in Fiscal 2012 ($ million) Total revenue in Fiscal 2011 ($ million) Annual revenue growth rate Operating profit in Fiscal 2012 ($ million) Operating profit in Fiscal 2011 ($ million) Operating margin in Fiscal 2012 ― 1 1 德科(Adecco) Talent dispatch/lease/ placement 26,391 28,567 -7.6% 865 1,061 3.3% ― 2 2 任仕达(randstad) Talent dispatch/lease/ placement 21,959 22,560 -2.7% 164 347 0.7% ― 3 3 万宝盛华集团(ManpowerGroup) Talent dispatch/lease/ placement 20,678 22,006 -6.0% 412 524 2.0% ― 4 4 安德普翰(ADP) HR service outsourcing 10,172 9,880 3.0% 2,122 1,933 20.9% → 5 / RECRUIT Headhunting & RPO 10,083 9,409 7.2% 1,438 1,131 14.3% ― 6 6 瀚纳仕(HAYS) Headhunting & RPO 5,794 5,222 10.9% 203 183 3.5% ↓ 7 5 必胜人力资源(KELLY) Talent dispatch/lease/ placement 5,451 5,551 -1.8% 72 58 1.3% ― 8 8 中智(CIIC) HR service outsourcing 5,333 4,484 18.9% 74 55 1.4% ↑ 9 10 罗致恒富(Robert Half) Talent dispatch/lease/ placement 4,111 3,777 8.8% 344 250 8.4% ↓ 10 7 怡安翰威特(Aon Hewitt) HR consulting 3,925 3,781 3.8% 289 336 7.4% ↓ 11 9 美世(MERCER) HR consulting 3,916 3,782 3.5% / / / → 12 / usg people Talent dispatch/lease/ placement 3,696 4,512 -18.1% -211 -6 -5.7% ↓ 13 11 韬睿惠悦(TOWERS WATSON) HR consulting 3,420 3,259 4.9% 400 313 11.7% ↓ 14 12 TEMP HOLDINGS HR service outsourcing 3,090 3,032 1.9% 123 106 4.0% ↓ 15 13 保圣那(PASONA) Talent dispatch/lease/ placement 2,269 2,324 -2.4% 25 32 1.1% ↓ 16 14 PAYCHEX HR service outsourcing 2,230 2,084 7.0% 854 786 38.3% ↓ 17 15 Insperity HR service outsourcing 2,159 1,976 9.2% 68 57 3.1% ↓ 18 17 IMPELLAM GROUP HR service outsourcing 1,920 1,757 9.3% 54 54 2.8% ↓ 19 16 SYNERGIE Headhunting & RPO 1,862 1,875 -0.7% 46 57 2.5% ↓ 20 18 米高蒲志国际(PageGroup) Headhunting & RPO 1,569 1,635 -4.0% 103 138 6.6% ↓ 21 20 CHANDLER MACLEOD HR service outsourcing 1,549 1,168 32.6% / / / ↓ 22 19 TRUEBLUE Talent dispatch/lease/ placement 1,390 1,316 5.6% 372 48 26.8% ↑ 23 31 On Assignment Talent dispatch/lease/ placement 1,240 597 107.6% 93 44 7.5% ↓ 24 22 CDI Corporation Talent dispatch/lease/ placement 1,105 1,060 4.3% 32 20 2.9% ↓ 25 21 KFORCE Headhunting & RPO 1,082 1,111 -2.6% -54 45 -5.0% HRoot Global 50 Human Resources Service Providers 2013 9
  • 10. GLOBAL 50 HUMAN RESOURCES SERVICE PROVIDERS 2013 Ranking higher/ lower Rank 2013 Rank 2012 Company Logo Country Main business Total revenue in Fiscal 2012 ($ million) Total revenue in Fiscal 2011 ($ million) Annual revenue growth rate Operating profit in Fiscal 2012 ($ million) Operating profit in Fiscal 2011 ($ million) Operating margin in Fiscal 2012 ↑ 26 34 Linkedin Online recruitment 972 522 86.3% 57 26 5.8% ↓ 27 26 sthree Headhunting & RPO 915 842 8.8% 40 47 4.3% ― 28 28 华德士(ROBERT WALTERS) Headhunting & RPO 900 820 9.8% 13 25 1.5% ↓ 29 23 monsterworldwide Online recruitment 890 1,040 -14.4% 32 77 3.6% ↓ 30 29 克罗诺思(KRONOS) HR management software 870 800 8.8% / / / ↓ 31 25 明达科(MEITEC) Headhunting & RPO 837 870 -3.8% 68 71 8.1% ↓ 32 27 光辉国际(KORN/FERRY INTERNATIONAL) Headhunting & RPO 827 776 6.5% 83 86 10.0% ↓ 33 24 翰德(Hudson) Headhunting & RPO 778 934 -16.7% -7 17 -0.9% ↑ 34 36 CORPORATE RESOURCE SERVICES Talent dispatch/lease/ placement 640 539 18.7% 2 3.8 0.3% ↓ 35 33 荟才 (RESOURCES GLOBAL PROFESSIONALS) HR consulting 572 546 4.8% 73 51 12.8% ↓ 36 30 HARVEY NASH Headhunting & RPO 533 655 -18.7% 9 10 1.7% ↓ 37 32 海德思哲(HEIDRICK&STRUGGLES) Headhunting & RPO 466 554 -15.9% 20 -11 4.2% ↓ 38 35 FULLCAST HLDGS HR service outsourcing 461.2 446 3.4% 18 20 3.9% ↓ 39 37 seek Online recruitment 461.1 345 33.7% 137 97 29.7% ↓ 40 38 BBSI HR service outsourcing 403 315 27.9% 19 4 4.7% ↑ 41 44 bluestone Headhunting & RPO 334 222 50.6% -33 -2 -9.8% ↓ 42 41 Ultimate SOFTWARE HR management software 332 269 23.4% 29 16 8.8% ↓ 43 42 Clarius Group Headhunting & RPO 283 267 6.0% -8 -7 -2.7% → 44 / workday HR management software 274 134 104.2% -118 -78 -43.1% ↓ 45 43 hydrogen Headhunting & RPO 265 242 9.3% 5 6 2.0% ↓ 46 45 前程无忧(www.51job.com) Online recruitment 240 218 9.9% 77 70 32.1% ↓ 47 46 HRnet One Head-Hunting, Talent Acquisition, Lease and Talent Management & Retention 214 203 5.7% 27 26 12.4% ↓ 48 47 Dice Holdings Online recruitment 195 179 9.1% 59 55 30.1% ↑ 49 52 Cornerstone ONDEMAND HR management software 118 73 61.5% -32 -19 -27.0% ― 50 50 ClickSoftware HR management software 100 87 14.9% 7 15 7.3% HRoot Global 50 Human Resources Service Providers 2013 10
  • 11. GLOBAL 50 HUMAN RESOURCES SERVICE PROVIDERS 2013 Ranking higher/ lower Rank 2013 Rank 2012 Company Logo Country Main business Total revenue in Fiscal 2012 ($ million) Total revenue in Fiscal 2011 ($ million) Annual revenue growth rate Operating profit in Fiscal 2012 ($ million) Operating profit in Fiscal 2011 ($ million) Operating margin in Fiscal 2012 ― 51 51 104人力银行(104 Job Bank) Online recruitment 72 79.8 -9.7% 7.0 8.7 9.7% ↑ 52 53 Fortune Industries HR service outsourcing 61 64.3 -5.3% 2.3 1.9 3.8% → 53 / 世泓(shl) Talent assessment/testing service 59 / / -12.3 / / ↑ 54 55 全美测评 (ATA) Talent assessment/testing service 56 48.1 15.8% 10.2 3.3 18.3% ↓ 55 54 HJB Headhunting & RPO 49.4 55.7 -11.3% 0.6 0.4 1.2% ― 56 56 DLH HR service outsourcing 49.2 41.9 17.3% -2.2 -4.2 -4.5% ― 57 57 PRIME PEOPLE Headhunting & RPO 20 19.7 1.7% 1.5 1.4 7.4% ― 58 58 网维(NetDimensions) HR management software 14 12.3 12.2% -0.3 0.6 -2.0% ― 59 59 HRsoft HR management software 7 7.6 -5.9% -1.4 -0.6 -19.5% HRoot Global 50 Human Resources Service Providers 2013, Sub-Rank Companies 11
  • 12. Ranking in 2012 Company Country Main business Reason of absence 39 talent2 HR outsourcing Acquisition 40 Kenexa HR management software Acquisition 48 The ReThink Group HR outsourcing Not clear 49 Saba Software HR management software Not clear Financial analysis indicators used in the “HRoot Global 50 HR Service Providers 2013” Competence indicator Financial ratio Formula Operating capacity Annual revenue growth rate (Current revenue - on revenue) / on revenue Total asset turnover ratio Revenue / average total assets Accounts receivable turnover ratio Revenue / average accounts receivable balance Return on assets (ROA) Net profit/average total assets Profitability Operating margin Operating profit/revenue Net profit margin Net profit/main business income Return on shareholder’s equity (ROE) Net profit/shareholders' equity Financial structure Debt-asset ratio Liabilities/total assets Solvency Current ratio Current assets/current liabilities Times interest earned(TIE) EBIT/interest expense Table 1 Previously listed companies absent from the "HRoot Global 50 Global Human Resources Service Providers 2013” GLOBAL 50 HUMAN RESOURCES SERVICE PROVIDERS 2013 12
  • 13. Industry Financial Ratio HR service outsourcing Talent dispatch / lease / placement Headhunting & RPO HR consulting HR management software Online recruitment Annual revenue growth rate 11.4% 9.7% 2.4% 35.1% 19.1% 4.3% Total asset turnover ratio 3.2 3.5 2.5 0.8 0.7 1.0 Accounts receivable turnover ratio 22.5 15.0 7.2 4.2 11.2 5.3 Return on assets 5.2% 2.3% 0.5% -5.0% 5.1% 7.0% Operating margin 7.8% 4.4% 3.4% -12.6% 18.4% 12.2% Net profit margin 4.9% 0.9% 1.5% -10.4% 6.4% 7.4% ROE 19.5% 1.5% -3.4% -11.5% 5.3% 10.9% Debt-asset ratio 58.3% 53.8% 45.8% 51.3% 37.6% 34.6% Current ratio 1.3 1.8 1.9 2.1 2.1 2.6 Times interest earned 180.0 8.8 28.5 / 8.8 / Table 2 Companies making debut on the “HRoot Global 50 Global Human Resources Service Providers 2013” Ranking in 2013 Company Country Main business Revenue in Fiscal 2012 (USD, million) 5 RECRUIT Headhunting and recruitment process outsourcing 10,083 12 usg people Talent dispatch/lease/placement 3,695 44 workday HR management software 274 52 Cornerstone ONDEMAND HR management software 118 Financial ratios averages by industry in the “HRoot Global 50 HR Service Providers 2013” GLOBAL 50 HUMAN RESOURCES SERVICE PROVIDERS 2013 13
  • 14. 1. Conditions on entrants: The revenues of human resources service providers shall account for over 50% of their revenues, and the listed companies can provide financial data audited by third-party audits or notarized by the government departments. Therefore, listed companies such as Oracle, SAP, Kingdee, Yonyou are not presented as as their software business did not generate more than 50% of their total revenues. DDI, HayGroup, and Career International, are absent from the rankings as they have not gone public or their financial data are not available, albeit they specialize in human resources services. 2.The data adopted in the ranking come from below sources: (1) Financial reports of 2012 announced by each listed company; (2) Financial information of 2012 announced by the stock exchanges where the companies are traded; (3) The data of unlisted companies are provided by third-party auditors or financial statements approved by the government departments available to HRoot. 3. The annual financial data in the rankings are divided by the fiscal year involved in the financial reports rather than the calendar year. 4. The rankings take the US dollar as the standard currency. Financial data of non-US companies are converted into US dollars at the average exchange rate of a whole year ending on the last day of their fiscal years. The exchange rates are listed as follows: GBP1 to USD1.5851; Euro1 to USD1.2851; AUD1 to USD1.0356; SGD1 to USD0.8005; RMB1 to USD0.1584; HKD1 to USD0.1289, NTD1 to USD0.0337; JPY1 to USD0.0125. 5. The slash mark, or “/”, means no data. 6. The financial data of Mercer are sourced from the 2012 annual financial report of its parent company, Marsh & McLennan. 7. The financial data of Aon Hewitt refer to the Fiscal 2012 data of the HR solutions business of Aon Corporation. 8. In 2012, as its revenue of human resources services accounted for more than 50% of its total revenue, LinkedIn is qualified as an entrant in the rankings. 9. Insperity was formerly named Administaff. 10. DLH Holdings Corp.was formerly named TeamStaff. 11. Monster is the parent company of ChinaHR.com. 12. SEEK is the parent company of zhaopin.com. 13.Total Revenue is the operating income of the companies in the sales of goods or services, and other operations, including the basic operating revenue and other operating income. It is an important part of corporate cash inflows, the operating results of the enterprise. Therefore, the rankings refer to the total revenue of the enterprises. 14. The data of industry averages are calculated as per the industry categories the 59 companies fall into, i.e., human resources outsourcing, talent dispatch/lease/placement services, executive search services, recruitment process outsourcing, human resource consulting, human resource management software, and online recruitment. 15. Interpretations of financial ratios Notes: Competence indicator Financial ratio Formula Operating capacity Annual revenue growth rate (Current revenue - on revenue) / on revenue Total asset turnover ratio Revenue / average total assets Accounts receivable turnover ratio Revenue / average accounts receivable balance ROA (return on assets) Net profit / average total assets Profitability Operating margin Operating profit / Revenue Net profit margin Net profit / main business income ROE, return on shareholder’s equity Net profit / shareholders' equity Financial structure Debt-asset ratio Liabilities / total assets Solvency Current ratio Current assets / current liabilities TIE (times interest earned) EBIT / interest expense GLOBAL 50 HUMAN RESOURCES SERVICE PROVIDERS 2013 14
  • 15. (1) Annual revenue growth rate gauges the ratio of the difference between the revenues of Fiscal 2012 and Fiscal 2011 to the latter. It illustrates how fast the revenue is changing. (2) The total asset turnover ratio measures the ability of a company to use its assets to efficiently generate sales. This ratio considers all assets, current and fixed. Those assets include fixed assets, like plant and equipment, as well as inventory, accounts receivable, as well as any other current assets. The fast the turnover of a company, the stronger its operating capacity is. (3) Accounts receivable turnover ratio refers to the number of times that accounts receivable amount is collected throughout the year. The average accounts receivable looks at the accounts receivable balance at the beginning of the year as well as the end of the year. A high accounts receivable turnover ratio indicates a tight credit policy. A low or declining accounts receivable turnover ratio indicates a collection problem, part of which may be due to bad debts. Yet an extremely high ratio can mean that the company is under the heavy debts that may curb the increase of its sales amount and profit. (4) ROA, or return on assets, is an indicator of how profitable a company is relative to its total assets. ROA gives an idea as to how efficient management is at using its assets to generate earnings. Calculated by dividing a company's annual earnings by its total assets, ROA is displayed as a percentage. (5) Operating margin is a measure of profitability that indicates how much of each dollar of revenues is left over after both costs of goods sold and operating expenses are considered. (6) Net profit margin tells how much profit a company makes for every one dollar. The higher a company's profit margin compared to its competitors, the better. (7) ROE, or Return on shareholder’s equity, is the amount of net income returned as a percentage of shareholders equity. Return on equity measures a corporation's profitability by revealing how much profit a company generates with the money shareholders have invested. (8) Debt-asset ratio is total liabilities divided by total assets. The debt asset ratio shows the proportion of a company'sassets which are financed through debt. Companies with high debt/asset ratios are said to be "highly leveraged," and could be in danger if creditors start to demand repayment of debt. (9) Current ratio suggests the company's ability to pay back its short-term liabilities (debt and payables) with its short-term assets (cash, inventory, receivables). The higher the current ratio, the more capable the company is of paying its obligations. (10) Multiples of interest earned is a metric used to measure a company's ability to meet its debt obligations. It is calculated by taking a company's earnings before interest and taxes (EBIT) and dividing it by the total interest payable on bonds and other contractual debt. It is usually quoted as a ratio and indicates how many times a company can cover its interest charges on a pretax basis. The higher the TIE, the more ability the company has to pay its long-term debts. 16. The column of “Ranking higher/lower” illustrates with signs, of which an upward arrow means the company ranks higher than before and a downward arrow means the opposite; a bar means staying unchanged while an arrow pointing right means the company is a new entrant to the rankings. Notes: USA Japan Australia Canada UK Singapore France Switzerland ChinaThe Netherlands Israel GLOBAL 50 HUMAN RESOURCES SERVICE PROVIDERS 2013 15
  • 16. GLOBAL 50 HUMAN RESOURCES SERVICE PROVIDERS 2013 Ranking higher/ lower Rank 2013 Rank 2012 Company Logo Country Main business Total revenue in Fiscal 2012 ($ million) Total revenue in Fiscal 2011 ($ million) Annual revenue growth rate Operating profit in Fiscal 2012 ($ million) Operating profit in Fiscal 2011 ($ million) Operating margin in Fiscal 2012 ― 3 3 万宝盛华集团(ManpowerGroup) Talent dispatch/lease/ placement 20,678 22,006 -6.0% 412 524 2.0% ― 4 4 安德普翰(ADP) HR service outsourcing 10,172 9,880 3.0% 2,122 1,933 20.9% ↓ 7 5 必胜人力资源(KELLY) Talent dispatch/lease/ placement 5,451 5,551 -1.8% 72 58 1.3% ↑ 9 10 罗致恒富(Robert Half) Talent dispatch/lease/ placement 4,111 3,777 8.8% 344 250 8.4% ↓ 11 9 美世(MERCER) HR consulting 3,916 3,782 3.5% / / / ↓ 13 11 韬睿惠悦(TOWERS WATSON) HR consulting 3,420 3,259 4.9% 400 313 11.7% ↓ 16 14 PAYCHEX HR service outsourcing 2,230 2,084 7.0% 854 786 38.3% ↓ 17 15 Insperity HR service outsourcing 2,159 1,976 9.2% 68 57 3.1% ↓ 22 19 TRUEBLUE Talent dispatch/lease/ placement 1,390 1,316 5.6% 372 48 26.8% ↑ 23 31 On Assignment Talent dispatch/lease/ placement 1,240 597 107.6% 93 44 7.5% ↓ 24 22 CDI Corporation Talent dispatch/lease/ placement 1,105 1,060 4.3% 32 20 2.9% ↓ 25 21 KFORCE Headhunting & RPO 1,082 1,111 -2.6% -54 45 -5.0% ↑ 26 34 Linkedin Online recruitment 972 522 86.3% 57 26 5.8% ↓ 29 23 monsterworldwide Online recruitment 890 1,040 -14.4% 32 77 3.6% ↓ 30 29 克罗诺思(KRONOS) HR management software 870 800 8.8% / / / ↓ 32 27 光辉国际(KORN/FERRY INTERNATIONAL) Headhunting & RPO 827 776 6.5% 83 86 10.0% ↓ 33 24 翰德(Hudson) Headhunting & RPO 778 934 -16.7% -7 17 -0.9% ↑ 34 36 CORPORATE RESOURCE SERVICES Talent dispatch/lease/ placement 640 539 18.7% 2 3.8 0.3% ↓ 35 33 荟才 (RESOURCES GLOBAL PROFESSIONALS) HR consulting 572 546 4.8% 73 51 12.8% ↓ 37 32 海德思哲(HEIDRICK&STRUGGLES) Headhunting & RPO 466 554 -15.9% 20 -11 4.2% ↓ 40 38 BBSI HR service outsourcing 403 315 27.9% 19 4 4.7% ↓ 42 41 Ultimate SOFTWARE HR management software 332 269 23.4% 29 16 8.8% → 44 / workday HR management software 274 134 104.2% -118 -78 -43.1% ↓ 48 47 Dice Holdings Online recruitment 195 179 9.1% 59 55 30.1% ↑ 49 52 Cornerstone ONDEMAND HR management software 118 73 61.5% -32 -19 -27.0% HRoot Global 50 Human Resources Service Providers 2013 (by Country) 16
  • 17. GLOBAL 50 HUMAN RESOURCES SERVICE PROVIDERS 2013 Ranking higher/ lower Rank 2013 Rank 2012 Company Logo Country Main business Total revenue in Fiscal 2012 ($ million) Total revenue in Fiscal 2011 ($ million) Annual revenue growth rate Operating profit in Fiscal 2012 ($ million) Operating profit in Fiscal 2011 ($ million) Operating margin in Fiscal 2012 → 5 / RECRUIT Headhunting & RPO 10,083 9,409 7.2% 1,438 1,131 14.3% ↓ 14 12 TEMP HOLDINGS HR service outsourcing 3,090 3,032 1.9% 123 106 4.0% ↓ 15 13 保圣那(PASONA) Talent dispatch/lease/ placement 2,269 2,324 -2.4% 25 32 1.1% ↓ 31 25 明达科(MEITEC) Headhunting & RPO 837 870 -3.8% 68 71 8.1% ↓ 38 35 FULLCAST HLDGS HR service outsourcing 461 446 3.4% 18 20 3.9% Ranking higher/ lower Rank 2013 Rank 2012 Company Logo Country Main business Total revenue in Fiscal 2012 ($ million) Total revenue in Fiscal 2011 ($ million) Annual revenue growth rate Operating profit in Fiscal 2012 ($ million) Operating profit in Fiscal 2011 ($ million) Operating margin in Fiscal 2012 ↓ 21 20 CHANDLER MACLEOD HR service outsourcing 1,549 1,168 32.6% / / / ↓ 39 37 seek Online recruitment 461 345 33.7% 137 97 29.7% ↑ 41 44 bluestone Headhunting & RPO 334 222 50.6% -33 -2 -9.8% ↓ 43 42 Clarius Group Headhunting & RPO 283 267 6.0% -8 -7 -2.7% Ranking higher/ lower Rank 2013 Rank 2012 Company Logo Country Main business Total revenue in Fiscal 2012 ($ million) Total revenue in Fiscal 2011 ($ million) Annual revenue growth rate Operating profit in Fiscal 2012 ($ million) Operating profit in Fiscal 2011 ($ million) Operating margin in Fiscal 2012 ― 6 6 瀚纳仕(HAYS) Headhunting & RPO 5,794 5,222 10.9% 203 183 3.5% ↓ 10 7 怡安翰威特(Aon Hewitt) HR consulting 3,925 3,781 3.8% 289 336 7.4% ↓ 18 17 IMPELLAM GROUP HR service outsourcing 1,920 1,757 9.3% 54 54 2.8% ↓ 20 18 米高蒲志国际(PageGroup) Headhunting & RPO 1,569 1,635 -4.0% 103 138 6.6% ↓ 27 26 sthree Headhunting & RPO 915 842 8.8% 40 47 4.3% ― 28 28 华德士(ROBERT WALTERS) Headhunting & RPO 900 820 9.8% 13 25 1.5% ↓ 36 30 HARVEY NASH Headhunting & RPO 533 655 -18.7% 9 10 1.7% ↓ 45 43 hydrogen Headhunting & RPO 265 242 9.3% 5 6 2.0% HRoot Global 50 Human Resources Service Providers 2013 (by Country) 17
  • 18. GLOBAL 50 HUMAN RESOURCES SERVICE PROVIDERS 2013 Ranking higher/ lower Rank 2013 Rank 2012 Company Logo Country Main business Total revenue in Fiscal 2012 ($ million) Total revenue in Fiscal 2011 ($ million) Annual revenue growth rate Operating profit in Fiscal 2012 ($ million) Operating profit in Fiscal 2011 ($ million) Operating margin in Fiscal 2012 ― 50 50 ClickSoftware HR management software 100 87 14.9% 7 15 7.3% Ranking higher/ lower Rank 2013 Rank 2012 Company Logo Country Main business Total revenue in Fiscal 2012 ($ million) Total revenue in Fiscal 2011 ($ million) Annual revenue growth rate Operating profit in Fiscal 2012 ($ million) Operating profit in Fiscal 2011 ($ million) Operating margin in Fiscal 2012 ↓ 47 46 HRnet One Head-Hunting, Talent Acquisition, Lease and Talent Management & Retention 214 203 5.7% 27 26 12.4% Ranking higher/ lower Rank 2013 Rank 2012 Company Logo Country Main business Total revenue in Fiscal 2012 ($ million) Total revenue in Fiscal 2011 ($ million) Annual revenue growth rate Operating profit in Fiscal 2012 ($ million) Operating profit in Fiscal 2011 ($ million) Operating margin in Fiscal 2012 ↓ 19 16 SYNERGIE Headhunting & RPO 1,862 1,875 -0.7% 46 57 2.5% Ranking higher/ lower Rank 2013 Rank 2012 Company Logo Country Main business Total revenue in Fiscal 2012 ($ million) Total revenue in Fiscal 2011 ($ million) Annual revenue growth rate Operating profit in Fiscal 2012 ($ million) Operating profit in Fiscal 2011 ($ million) Operating margin in Fiscal 2012 ― 1 1 德科(Adecco) Talent dispatch/lease/ placement 26,391 28,567 -7.6% 865 1,061 3.3% Ranking higher/ lower Rank 2013 Rank 2012 Company Logo Country Main business Total revenue in Fiscal 2012 ($ million) Total revenue in Fiscal 2011 ($ million) Annual revenue growth rate Operating profit in Fiscal 2012 ($ million) Operating profit in Fiscal 2011 ($ million) Operating margin in Fiscal 2012 ― 2 2 任仕达(randstad) Talent dispatch/lease/ placement 21,959 22,560 -2.7% 164 347 0.7% → 12 / usg people Talent dispatch/lease/ placement 3,696 4,512 -18.1% -211 -6 -5.7% Ranking higher/ lower Rank 2013 Rank 2012 Company Logo Country Main business Total revenue in Fiscal 2012 ($ million) Total revenue in Fiscal 2011 ($ million) Annual revenue growth rate Operating profit in Fiscal 2012 ($ million) Operating profit in Fiscal 2011 ($ million) Operating margin in Fiscal 2012 ― 8 8 中智(CIIC) HR service outsourcing 5,333 4,484 18.9% 74 55 1.4% ↓ 46 45 前程无忧(www.51job.com) Online recruitment 240 218 9.9% 77 70 32.1% HRoot Global 50 Human Resources Service Providers 2013 (by Country) 18
  • 19. GLOBAL 50 HUMAN RESOURCES SERVICE PROVIDERS 2013 Ranking higher/ lower Rank 2013 Rank 2012 Company Logo Country Main business Total revenue in Fiscal 2012 ($ million) Total revenue in Fiscal 2011 ($ million) Annual revenue growth rate Operating profit in Fiscal 2012 ($ million) Operating profit in Fiscal 2011 ($ million) Operating margin in Fiscal 2012 ― 1 1 德科(Adecco) Talent dispatch/lease/ placement 26,391 28,567 -7.6% 865 1,061 3.3% ― 2 2 任仕达(randstad) Talent dispatch/lease/ placement 21,959 22,560 -2.7% 164 347 0.7% ― 3 3 万宝盛华集团(ManpowerGroup) Talent dispatch/lease/ placement 20,678 22,006 -6.0% 412 524 2.0% ↓ 7 5 必胜人力资源(KELLY) Talent dispatch/lease/ placement 5,451 5,551 -1.8% 72 58 1.3% ↑ 9 10 罗致恒富(Robert Half) Talent dispatch/lease/ placement 4,111 3,777 8.8% 344 250 8.4% → 12 / usg people Talent dispatch/lease/ placement 3,696 4,512 -18.1% -211 -6 -5.7% ↓ 15 13 保圣那(PASONA) Talent dispatch/lease/ placement 2,269 2,324 -2.4% 25 32 1.1% ↓ 22 19 TRUEBLUE Talent dispatch/lease/ placement 1,390 1,316 5.6% 372 48 26.8% ↑ 23 31 On Assignment Talent dispatch/lease/ placement 1,240 597 107.6% 93 44 7.5% ↓ 24 22 CDI Corporation Talent dispatch/lease/ placement 1,105 1,060 4.3% 32 20 2.9% ↑ 34 36 CORPORATE RESOURCE SERVICES Talent dispatch/lease/ placement 640 539 18.7% 2 3.8 0.3% Ranking higher/ lower Rank 2013 Rank 2012 Company Logo Country Main business Total revenue in Fiscal 2012 ($ million) Total revenue in Fiscal 2011 ($ million) Annual revenue growth rate Operating profit in Fiscal 2012 ($ million) Operating profit in Fiscal 2011 ($ million) Operating margin in Fiscal 2012 ― 4 4 安德普翰(ADP) HR service outsourcing 10,172 9,880 3.0% 2,122 1,933 20.9% ― 8 8 中智(CIIC) HR service outsourcing 5,333 4,484 18.9% 74 55 1.4% ↓ 14 12 TEMP HOLDINGS HR service outsourcing 3,090 3,032 1.9% 123 106 4.0% ↓ 16 14 PAYCHEX HR service outsourcing 2,230 2,084 7.0% 854 786 38.3% ↓ 17 15 Insperity HR service outsourcing 2,159 1,976 9.2% 68 57 3.1% ↓ 18 17 IMPELLAM GROUP HR service outsourcing 1,920 1,757 9.3% 54 54 2.8% ↓ 21 20 CHANDLER MACLEOD HR service outsourcing 1,549 1,168 32.6% / / / ↓ 38 35 FULLCAST HLDGS HR service outsourcing 461 446 3.4% 18 20 3.9% ↓ 40 38 BBSI HR service outsourcing 403 315 27.9% 19 4 4.7% HRoot Global 50 Human Resources Service Providers 2013 (by Industry) 19
  • 20. GLOBAL 50 HUMAN RESOURCES SERVICE PROVIDERS 2013 Ranking higher/ lower Rank 2013 Rank 2012 Company Logo Country Main business Total revenue in Fiscal 2012 ($ million) Total revenue in Fiscal 2011 ($ million) Annual revenue growth rate Operating profit in Fiscal 2012 ($ million) Operating profit in Fiscal 2011 ($ million) Operating margin in Fiscal 2012 ↓ 30 29 克罗诺思(KRONOS) HR management software 870 800 8.8% / / / ↓ 42 41 Ultimate SOFTWARE HR management software 332 269 23.4% 29 16 8.8% → 44 / workday HR management software 274 134 104.2% -118 -78 -43.1% ↑ 49 52 Cornerstone ONDEMAND HR management software 118 73 61.5% -32 -19 -27.0% ― 50 50 ClickSoftware HR management software 100 87 14.9% 7 15 7.3% Ranking higher/ lower Rank 2013 Rank 2012 Company Logo Country Main business Total revenue in Fiscal 2012 ($ million) Total revenue in Fiscal 2011 ($ million) Annual revenue growth rate Operating profit in Fiscal 2012 ($ million) Operating profit in Fiscal 2011 ($ million) Operating margin in Fiscal 2012 → 5 / RECRUIT Headhunting & RPO 10,083 9,409 7.2% 1,438 1,131 14.3% ― 6 6 瀚纳仕(HAYS) Headhunting & RPO 5,794 5,222 10.9% 203 183 3.5% ↓ 19 16 SYNERGIE Headhunting & RPO 1,862 1,875 -0.7% 46 57 2.5% ↓ 20 18 米高蒲志国际(PageGroup) Headhunting & RPO 1,569 1,635 -4.0% 103 138 6.6% ↓ 25 21 KFORCE Headhunting & RPO 1,082 1,111 -2.6% -54 45 -5.0% ↓ 27 26 sthree Headhunting & RPO 915 842 8.8% 40 47 4.3% ― 28 28 华德士(ROBERT WALTERS) Headhunting & RPO 900 820 9.8% 13 25 1.5% ↓ 31 25 明达科(MEITEC) Headhunting & RPO 837 870 -3.8% 68 71 8.1% ↓ 32 27 光辉国际(KORN/FERRY INTERNATIONAL) Headhunting & RPO 827 776 6.5% 83 86 10.0% ↓ 33 24 翰德(Hudson) Headhunting & RPO 778 934 -16.7% -7 17 -0.9% ↓ 36 30 HARVEY NASH Headhunting & RPO 533 655 -18.7% 9 10 1.7% ↓ 37 32 海德思哲(HEIDRICK&STRUGGLES) Headhunting & RPO 466 554 -15.9% 20 -11 4.2% ↑ 41 44 bluestone Headhunting & RPO 334 222 50.6% -33 -2 -9.8% ↓ 43 42 Clarius Group Headhunting & RPO 283 267 6.0% -8 -7 -2.7% ↓ 45 43 hydrogen Headhunting & RPO 265 242 9.3% 5 6 2.0% ↓ 47 46 HRnet One Head-Hunting, Talent Acquisition, Lease and Talent Management & Retention 214 203 5.7% 27 26 12.4% HRoot Global 50 Human Resources Service Providers 2013 (by Industry) 20
  • 21. GLOBAL 50 HUMAN RESOURCES SERVICE PROVIDERS 2013 Ranking higher/ lower Rank 2013 Rank 2012 Company Logo Country Main business Total revenue in Fiscal 2012 ($ million) Total revenue in Fiscal 2011 ($ million) Annual revenue growth rate Operating profit in Fiscal 2012 ($ million) Operating profit in Fiscal 2011 ($ million) Operating margin in Fiscal 2012 ↓ 10 7 怡安翰威特(Aon Hewitt) HR consulting 3,925 3,781 3.8% 289 336 7.4% ↓ 11 9 美世(MERCER) HR consulting 3,916 3,782 3.5% / / / ↓ 13 11 韬睿惠悦(TOWERS WATSON) HR consulting 3,420 3,259 4.9% 400 313 11.7% ↓ 35 33 荟才 (RESOURCES GLOBAL PROFESSIONALS) HR consulting 572 546 4.8% 73 51 12.8% Ranking higher/ lower Rank 2013 Rank 2012 Company Logo Country Main business Total revenue in Fiscal 2012 ($ million) Total revenue in Fiscal 2011 ($ million) Annual revenue growth rate Operating profit in Fiscal 2012 ($ million) Operating profit in Fiscal 2011 ($ million) Operating margin in Fiscal 2012 ↑ 26 34 Linkedin Online recruitment 972 522 86.3% 57 26 5.8% ↓ 29 23 monsterworldwide Online recruitment 890 1,040 -14.4% 32 77 3.6% ↓ 39 37 seek Online recruitment 461 345 33.7% 137 97 29.7% ↓ 46 45 前程无忧(www.51job.com) Online recruitment 240 218 9.9% 77 70 32.1% ↓ 48 47 Dice Holdings Online recruitment 195 179 9.1% 59 55 30.1% HRoot Global 50 Human Resources Service Providers 2013 (by Industry) 21
  • 22. GLOBAL 50 HUMAN RESOURCES SERVICE PROVIDERS 2013 Rank of annual revenue growth rate Company Logo Country Main business Total revenue in Fiscal 2012 ($ million) Total revenue in Fiscal 2011 ($ million) Annual revenue growth rate 1 On Assignment Talent dispatch/lease/placement 1,240 597 107.6% 2 workday HR management software 274 134 104.2% 3 Linkedin Online recruitment 972 522 86.3% 4 Cornerstone ONDEMAND HR management software 118 73 61.5% 5 bluestone Headhunting & RPO 334 222 50.6% 6 seek Online recruitment 461 345 33.7% 7 CHANDLER MACLEOD HR service outsourcing 1,549 1,168 32.6% 8 BBSI HR service outsourcing 403 315 27.9% 9 Ultimate SOFTWARE HR management software 332 269 23.4% 10 中智(CIIC) HR service outsourcing 5,333 4,484 18.9% 11 CORPORATE RESOURCE SERVICES Talent dispatch/lease/placement 640 539 18.7% 12 ClickSoftware HR management software 100 87 14.9% 13 瀚纳仕(HAYS) Headhunting & RPO 5,794 5,222 10.9% 14 前程无忧(www.51job.com) Online recruitment 240 218 9.9% 15 华德士(ROBERT WALTERS) Headhunting & RPO 900 820 9.8% 16 IMPELLAM GROUP HR service outsourcing 1,920 1,757 9.3% 17 hydrogen Headhunting & RPO 265 242 9.3% 18 Insperity HR service outsourcing 2,159 1,976 9.2% 19 Dice Holdings Online recruitment 195 179 9.1% 20 罗致恒富(Robert Half) Talent dispatch/lease/placement 4,111 3,777 8.8% 21 sthree Headhunting & RPO 915 842 8.8% 22 克罗诺思(KRONOS) HR management software 870 800 8.8% 23 RECRUIT Headhunting & RPO 10,083 9,409 7.2% HRoot Global 50 Human Resources Service Providers 2013 (Ranked by Annual Revenue Growth Rate) 22
  • 23. GLOBAL 50 HUMAN RESOURCES SERVICE PROVIDERS 2013 Rank of annual revenue growth rate Company Logo Country Main business Total revenue in Fiscal 2012 ($ million) Total revenue in Fiscal 2011 ($ million) Annual revenue growth rate 24 PAYCHEX HR service outsourcing 2,230 2,084 7.0% 25 光辉国际(KORN/FERRY INTERNATIONAL) Headhunting & RPO 827 776 6.5% 26 Clarius Group Headhunting & RPO 283 267 6.0% 27 HRnet One Head-Hunting, Talent Acquisition, Lease and Talent Management & Retention 214 203 5.7% 28 TRUEBLUE Talent dispatch/lease/placement 1,390 1,316 5.6% 29 韬睿惠悦(TOWERS WATSON) HR consulting 3,420 3,259 4.9% 30 荟才 (RESOURCES GLOBAL PROFESSIONALS) HR consulting 572 546 4.8% 31 CDI Corporation Talent dispatch/lease/placement 1,105 1,060 4.3% 32 怡安翰威特(Aon Hewitt) HR consulting 3,925 3,781 3.8% 33 美世(MERCER) HR consulting 3,916 3,782 3.5% 34 FULLCAST HLDGS HR service outsourcing 461 446 3.4% 35 安德普翰(ADP) HR service outsourcing 10,172 9,880 3.0% 36 TEMP HOLDINGS HR service outsourcing 3,090 3,032 1.9% 37 SYNERGIE Headhunting & RPO 1,862 1,875 -0.7% 38 必胜人力资源(KELLY) Talent dispatch/lease/placement 5,451 5,551 -1.8% 39 保圣那(PASONA) Talent dispatch/lease/placement 2,269 2,324 -2.4% 40 KFORCE Headhunting & RPO 1,082 1,111 -2.6% 41 任仕达(randstad) Talent dispatch/lease/placement 21,959 22,560 -2.7% 42 明达科(MEITEC) Headhunting & RPO 837 870 -3.8% 43 米高蒲志国际(PageGroup) Headhunting & RPO 1,569 1,635 -4.0% 44 万宝盛华集团(ManpowerGroup) Talent dispatch/lease/placement 20,678 22,006 -6.0% 45 德科(Adecco) Talent dispatch/lease/placement 26,391 28,567 -7.6% 46 monsterworldwide Online recruitment 890 1,040 -14.4% HRoot Global 50 Human Resources Service Providers 2013 (Ranked by Annual Revenue Growth Rate) 23
  • 24. GLOBAL 50 HUMAN RESOURCES SERVICE PROVIDERS 2013 Rank of annual revenue growth rate Company Logo Country Main business Total revenue in Fiscal 2012 ($ million) Total revenue in Fiscal 2011 ($ million) Annual revenue growth rate 47 海德思哲(HEIDRICK&STRUGGLES) Headhunting & RPO 466 554 -15.9% 48 翰德(Hudson) Headhunting & RPO 778 934 -16.7% 49 usg people Talent dispatch/lease/placement 3,696 4,512 -18.1% 50 HARVEY NASH Headhunting & RPO 533 655 -18.7% HRoot Global 50 Human Resources Service Providers 2013 (Ranked by Annual Revenue Growth Rate) 24
  • 25. GLOBAL 50 HUMAN RESOURCES SERVICE PROVIDERS 2013 Rank of growth rate of annual revenue Company Logo Country Main business Total revenue in Fiscal 2012 ($ million) Total profit in Fiscal 2012 ($ million) Operating margin 1 PAYCHEX HR service outsourcing 2,230 854 38.3% 2 前程无忧(www.51job.com) Online recruitment 240 77 32.1% 3 Dice Holdings Online recruitment 195 59 30.1% 4 seek Online recruitment 461 137 29.7% 5 TRUEBLUE Talent dispatch/lease/placement 1,390 372 26.8% 6 安德普翰(ADP) HR service outsourcing 10,172 2,122 20.9% 7 RECRUIT Headhunting & RPO 10,083 1,438 14.3% 8 荟才 (RESOURCES GLOBAL PROFESSIONALS) HR consulting 572 73 12.8% 9 HRnet One Head-Hunting, Talent Acquisition, Lease and Talent Management & Retention 214 27 12.4% 10 韬睿惠悦(TOWERS WATSON) HR consulting 3,420 400 11.7% 11 光辉国际(KORN/FERRY INTERNATIONAL) Headhunting & RPO 827 83 10.0% 12 Ultimate SOFTWARE HR management software 332 29 8.8% 13 罗致恒富(Robert Half) Talent dispatch/lease/placement 4,111 344 8.4% 14 明达科(MEITEC) Headhunting & RPO 837 68 8.1% 15 On Assignment Talent dispatch/lease/placement 1,240 93 7.5% 16 怡安翰威特(Aon Hewitt) HR consulting 3,925 289 7.4% 17 ClickSoftware HR management software 100 7 7.3% 18 米高蒲志国际(PageGroup) Headhunting & RPO 1,569 103 6.6% 19 Linkedin Online recruitment 972 57 5.8% 20 BBSI HR service outsourcing 403 19 4.7% 21 sthree Headhunting & RPO 915 40 4.3% 22 海德思哲(HEIDRICK&STRUGGLES) Headhunting & RPO 466 20 4.2% 23 TEMP HOLDINGS HR service outsourcing 3,090 123 4.0% HRoot Global 50 Human Resources Service Providers 2013 (Ranked by Operating Margin) 25
  • 26. GLOBAL 50 HUMAN RESOURCES SERVICE PROVIDERS 2013 2013年排名 公司名称 LOGO 国别 主营业务 2012财年总收入(百万美元) 2012财年营业利润(百万美元) 2012财年营业利润率 24 FULLCAST HLDGS HR service outsourcing 461 18 3.9% 25 monsterworldwide Online recruitment 890 32 3.6% 26 瀚纳仕(HAYS) Headhunting & RPO 5,794 203 3.5% 27 德科(Adecco) Talent dispatch/lease/placement 26,391 865 3.3% 28 Insperity HR service outsourcing 2,159 68 3.1% 29 CDI Corporation Talent dispatch/lease/placement 1,105 32 2.9% 30 IMPELLAM GROUP HR service outsourcing 1,920 54 2.8% 31 SYNERGIE Headhunting & RPO 1,862 46 2.5% 32 hydrogen Headhunting & RPO 265 5 2.0% 33 万宝盛华集团(ManpowerGroup) Talent dispatch/lease/placement 20,678 412 2.0% 34 HARVEY NASH Headhunting & RPO 533 9 1.7% 35 华德士(ROBERT WALTERS) Headhunting & RPO 900 13 1.5% 36 中智(CIIC) HR service outsourcing 5,333 74 1.4% 37 必胜人力资源(KELLY) Talent dispatch/lease/placement 5,451 72 1.3% 38 保圣那(PASONA) Talent dispatch/lease/placement 2,269 25 1.1% 39 任仕达(randstad) Talent dispatch/lease/placement 21,959 164 0.7% 40 CORPORATE RESOURCE SERVICES Talent dispatch/lease/placement 640 2 0.3% 41 翰德(Hudson) Headhunting & RPO 778 -7 -0.9% 42 Clarius Group Headhunting & RPO 283 -8 -2.7% 43 KFORCE Headhunting & RPO 1,082 -54 -5.0% 44 usg people Talent dispatch/lease/placement 3,696 -211 -5.7% 45 bluestone Headhunting & RPO 334 -33 -9.8% 46 Cornerstone ONDEMAND HR management software 118 -32 -27.0% HRoot Global 50 Human Resources Service Providers 2013 (Ranked by Operating Margin) 26
  • 27. GLOBAL 50 HUMAN RESOURCES SERVICE PROVIDERS 2013 2013年排名 公司名称 LOGO 国别 主营业务 2012财年总收入(百万美元) 2012财年营业利润(百万美元) 2012财年营业利润率 47 workday HR management software 274 -118 -43.1% 48 美世(MERCER) HR consulting 3,916 / / 49 CHANDLER MACLEOD HR service outsourcing 1,549 / / 50 克罗诺思(KRONOS) HR management software 870 / / HRoot Global 50 Human Resources Service Providers 2013 (Ranked by Operating Margin) 27
  • 28. GLOBAL 50 HUMAN RESOURCES SERVICE PROVIDERS 2013 Industry Rank 2013 Company LOGO Country Annual revenue growth rate Compared with industry average Headhunting & RPO 23 RECRUIT 7.2% Higher 25 光辉国际(KORN/FERRY INTERNATIONAL) 6.5% Higher 26 Clarius Group 6.0% Higher 27 HRnet One 5.7% Higher 37 SYNERGIE -0.7% Lower 40 KFORCE -2.6% Lower 42 明达科(MEITEC) -3.8% Lower 43 米高蒲志国际(PageGroup) -4.0% Lower 47 海德思哲 (HEIDRICK&STRUGGLES) -15.9% Lower 48 翰德(Hudson) -16.7% Lower 50 HARVEY NASH -18.7% Lower HR management software 2 workday 104.2% Higher 4 Cornerstone ONDEMAND 61.5% Higher 9 Ultimate SOFTWARE 23.4% Lower 12 ClickSoftware 14.9% Lower 22 克罗诺思(KRONOS) 8.8% Lower Online recruitment 3 Linkedin 86.3% Higher 6 seek 33.7% Higher 14 前程无忧(www.51job.com) 9.9% Lower 19 Dice Holdings 9.1% Lower 46 monsterworldwide -14.4% Lower HR consulting 29 韬睿惠悦(TOWERS WATSON) 4.9% Higher 30 荟才 RESOURCES GLOBAL PROFESSIONALS) 4.8% Lower 32 怡安翰威特(Aon Hewitt) 3.8% / 33 美世(MERCER) 3.5% / Industry Rank 2013 Company LOGO Country Annual revenue growth rate Compared with industry average HR service outsourcing 7 CHANDLER MACLEOD 32.6% Higher 8 BBSI 27.9% Higher 10 中智(CIIC) 18.9% Higher 16 IMPELLAM GROUP 9.3% Lower 18 Insperity 9.2% Lower 24 PAYCHEX 7.0% Lower 34 FULLCAST HLDGS 3.4% Lower 35 安德普翰(ADP) 3.0% Lower 36 TEMP HOLDINGS 1.9% Lower Talent dispatch/ lease/ placement 1 On Assignment 107.6% Higher 11 CORPORATE RESOURCE SERVICES 18.7% Higher 20 罗致恒富(Robert Half) 8.8% Lower 28 TRUEBLUE 5.6% Lower 31 CDI Corporation 4.3% Lower 38 必胜人力资源(KELLY) -1.8% Lower 39 保圣那(PASONA) -2.4% Lower 41 任仕达(randstad) -2.7% Lower 44 万宝盛华集团 (ManpowerGroup) -6.0% Lower 45 德科(Adecco) -7.6% Lower 49 usg people -18.1% Higher Headhunting & RPO 5 bluestone 50.6% Higher 13 瀚纳仕(HAYS) 10.9% Higher 15 华德士(ROBERT WALTERS) 9.8% Higher 17 hydrogen 9.3% Higher 21 sthree 8.8% Higher HRoot Global 50 HR Service Providers 2013 (Ranked by Annual Revenue Growth Rate of Main Business) 28
  • 29. GLOBAL 50 HUMAN RESOURCES SERVICE PROVIDERS 2013 Industry Rank 2013 Company LOGO Country Annual revenue growth rate Compared with industry average Headhunting & RPO 41 bluestone 3.0 Higher 25 KFORCE 2.9 Higher 20 米高蒲志国际(PageGroup) 2.9 Higher 36 HARVEY NASH 2.6 Higher 43 Clarius Group 2.5 Equal 47 HRnet One 1.9 Lower 5 RECRUIT 1.2 Lower 31 明达科(MEITEC) 1.1 Lower 37 海德思哲 (HEIDRICK&STRUGGLES) 0.9 Lower 32 光辉国际(KORN/FERRY INTERNATIONAL) 0.8 Lower 19 SYNERGIE / / HR management software 50 ClickSoftware 1.1 Higher 42 Ultimate SOFTWARE 0.8 Equal 49 Cornerstone ONDEMAND 0.8 Equal 44 workday 0.5 Lower 30 克罗诺思(KRONOS) / / Online recruitment 26 Linkedin 0.9 Higher 48 Dice Holdings 0.6 Lower 46 前程无忧(www.51job.com) 0.5 Lower 29 monsterworldwide 0.5 Lower 39 seek 0.4 Lower HR consulting 35 荟才 (RESOURCES GLOBAL PROFESSIONALS) 1.3 Higher 13 韬睿惠悦(TOWERS WATSON) 0.7 Lower 10 怡安翰威特(Aon Hewitt) / / 11 美世(MERCER) / / Industry Rank 2013 Company LOGO Country Annual revenue growth rate Compared with industry average HR service outsourcing 8 中智(CIIC) 8.0 Higher 21 CHANDLER MACLEOD 4.6 Higher 38 FULLCAST HLDGS 4.3 Higher 18 IMPELLAM GROUP 3.6 Higher 17 Insperity 3.0 Lower 14 TEMP HOLDINGS 2.6 Lower 40 BBSI 1.8 Lower 16 PAYCHEX 0.4 Lower 4 安德普翰(ADP) 0.3 Lower Talent dispatch/ lease/ placement 34 CORPORATE RESOURCE SERVICES 13.7 Higher 7 必胜人力资源(KELLY) 3.4 Lower 9 罗致恒富(Robert Half) 3.1 Lower 3 万宝盛华集团 (ManpowerGroup) 3.0 Lower 24 CDI Corporation 2.8 Lower 15 保圣那(PASONA) 2.5 Lower 22 TRUEBLUE 2.4 Lower 2 任仕达(randstad) 2.2 Lower 1 德科(Adecco) 2.1 Lower 12 usg people 1.8 Lower 23 On Assignment 1.6 Lower Headhunting & RPO 6 瀚纳仕(HAYS) 4.2 Higher 33 翰德(Hudson) 3.8 Higher 45 hydrogen 3.7 Higher 27 sthree 3.3 Higher 28 华德士(ROBERT WALTERS) 3.2 Higher HRoot Global 50 HR Service Providers 2013 (Ranked by Total Asset Turnover Ratio of Main Business) 29
  • 30. GLOBAL 50 HUMAN RESOURCES SERVICE PROVIDERS 2013 Industry Rank 2013 Company LOGO Country Annual revenue growth rate Compared with industry average Headhunting & RPO 33 翰德(Hudson) 6.5 Lower 45 hydrogen 6.2 Lower 31 明达科(MEITEC) 6.1 Lower 20 米高蒲志国际(PageGroup) 5.3 Lower 27 sthree 5.2 Lower 43 Clarius Group 5.0 Lower 28 华德士(ROBERT WALTERS) 4.7 Lower 36 HARVEY NASH 4.7 Lower 5 RECRUIT 2.0 Lower HRnet One / / 19 SYNERGIE / / HR management software 42 Ultimate SOFTWARE 5.2 Higher 44 workday 4.5 Higher 50 ClickSoftware 4.2 Equal 49 Cornerstone ONDEMAND 2.9 Lower 30 克罗诺思(KRONOS) / / Online recruitment 46 前程无忧(www.51job.com) 31.3 Higher 39 seek 8.2 Lower 48 Dice Holdings 7.9 Lower 26 Linkedin 6.2 Lower 29 monsterworldwide 2.6 Lower HR consulting 35 荟才(RESOURCES GLOBAL PROFESSIONALS) 6.5 Higher 13 韬睿惠悦(TOWERS WATSON) 4.1 Lower 10 怡安翰威特(Aon Hewitt) / / 美世(MERCER) / / Industry Rank 2013 Company LOGO Country Annual revenue growth rate Compared with industry average HR service outsourcing 8 中智(CIIC) 121.6 Higher 38 FULLCAST HLDGS 16.9 Lower 16 PAYCHEX 14.7 Lower 17 Insperity 11.9 Lower 21 CHANDLER MACLEOD 9.2 Lower 4 安德普翰(ADP) 7.4 Lower 40 BBSI 7.0 Lower 18 IMPELLAM GROUP 5.8 Lower 14 TEMP HOLDINGS / / Talent dispatch/ lease/ placement 34 CORPORATE RESOURCE SERVICES 93.5 Higher 22 TRUEBLUE 8.7 Lower 9 罗致恒富(Robert Half) 8.2 Lower 23 On Assignment 7.4 Lower 12 usg people 6.4 Lower 7 必胜人力资源(KELLY) 5.6 Lower 1 德科(Adecco) 5.5 Lower 2 任仕达(randstad) 5.4 Lower 24 CDI Corporation 4.9 Lower 3 万宝盛华集团 (ManpowerGroup) 4.9 Lower 15 保圣那(PASONA) / / Headhunting & RPO 32 光辉国际(KORN/FERRY INTERNATIONAL) 11.8 Higher 41 bluestone 9.1 Higher 37 海德思哲 (HEIDRICK&STRUGGLES) 8.9 Higher 6 瀚纳仕(HAYS) 6.8 Lower 25 KFORCE 6.6 Lower HRoot Global 50 HR Service Providers 2013 (Ranked by Accounts Receivable Turnover Ratio of Main Business) 30
  • 31. GLOBAL 50 HUMAN RESOURCES SERVICE PROVIDERS 2013 Industry Rank 2013 Company LOGO Country Annual revenue growth rate Compared with industry average Headhunting & RPO 33 翰德(Hudson) -2.6% Lower 43 Clarius Group -2.8% Lower 25 KFORCE -3.8% Lower 41 bluestone -29.2% Lower 6 瀚纳仕(HAYS) / / 45 hydrogen / / 27 sthree / / 28 华德士(ROBERT WALTERS) / / 36 HARVEY NASH / / 47 HRnet One / / 19 SYNERGIE / / HR management software 50 ClickSoftware 8.1% Higher 42 Ultimate SOFTWARE 3.5% Higher 44 workday -20.0% Lower 49 Cornerstone ONDEMAND -20.4% Lower 30 克罗诺思(KRONOS) / / Online recruitment 46 前程无忧(www.51job.com) 16.3% Higher 48 Dice Holdings 11.2% Higher 26 Linkedin 1.9% Lower 29 monsterworldwide -13.8% Lower 39 seek / / HR consulting 35 荟才(RESOURCES GLOBAL PROFESSIONALS) 9.1% Higher 13 韬睿惠悦(TOWERS WATSON) 5.0% Lower 10 怡安翰威特(Aon Hewitt) / / 11 美世(MERCER) / / Industry Rank 2013 Company LOGO Country Annual revenue growth rate Compared with industry average HR service outsourcing 38 FULLCAST HLDGS 16.5% Higher 16 PAYCHEX 9.2% Higher 8 中智(CIIC) 8.5% Higher 18 IMPELLAM GROUP 7.2% Higher 14 TEMP HOLDINGS 6.3% Higher 40 BBSI 5.8% Higher 17 Insperity 5.5% Higher 21 CHANDLER MACLEOD 4.7% Lower 4 安德普翰(ADP) 4.3% Lower Talent dispatch/ lease/ placement 9 罗致恒富(Robert Half) 15.6% Higher 22 TRUEBLUE 5.8% Higher 23 On Assignment 5.7% Higher 24 CDI Corporation 4.9% Higher 1 德科(Adecco) 3.8% Higher 7 必胜人力资源(KELLY) 3.1% Higher 3 万宝盛华集团 (ManpowerGroup) 2.8% Higher 2 任仕达(randstad) 0.5% Lower 34 CORPORATE RESOURCE SERVICES -7.2% Lower 12 usg people -12.2% Lower 15 保圣那(PASONA) / / Headhunting & RPO 20 米高蒲志国际(PageGroup) 18.0% Higher 5 RECRUIT 5.7% Higher 32 光辉国际(KORN/FERRY INTERNATIONAL) 5.5% Higher 31 明达科(MEITEC) 4.8% Higher 37 海德思哲 (HEIDRICK&STRUGGLES) 1.2% Higher HRoot Global 50 HR Service Providers 2013 (Ranked by Return on Assets of Main Business) 31
  • 32. GLOBAL 50 HUMAN RESOURCES SERVICE PROVIDERS 2013 Industry Rank 2013 Company LOGO Country Annual revenue growth rate Compared with industry average Headhunting & RPO 21 sthree 4.3% Higher 22 海德思哲 (HEIDRICK&STRUGGLES) 4.2% Higher 26 瀚纳仕(HAYS) 3.5% Higher 31 SYNERGIE 2.5% Lower 32 hydrogen 2.0% Lower 34 HARVEY NASH 1.7% Lower 35 华德士(ROBERT WALTERS) 1.5% Lower 41 翰德(Hudson) -0.9% Lower 42 Clarius Group -2.7% Lower 43 KFORCE -5.0% Lower 45 bluestone -9.8% Lower HR management software 12 Ultimate SOFTWARE 8.8% Higher 17 ClickSoftware 7.3% Higher 46 Cornerstone ONDEMAND -27.0% Lower 47 workday -43.1% Lower 50 克罗诺思(KRONOS) / / Online recruitment 2 前程无忧(www.51job.com) 32.1% Higher 3 Dice Holdings 30.1% Higher 4 seek 29.7% Higher 19 Linkedin 5.8% Lower 25 monsterworldwide 3.6% Lower HR consulting 8 荟才(RESOURCES GLOBAL PROFESSIONALS) 12.8% Higher 10 韬睿惠悦(TOWERS WATSON) 11.7% Lower 16 怡安翰威特(Aon Hewitt) 7.4% Lower 48 美世(MERCER) / / Industry Rank 2013 Company LOGO Country Annual revenue growth rate Compared with industry average HR service outsourcing 1 PAYCHEX 38.3% Higher 6 安德普翰(ADP) 20.9% Higher 20 BBSI 4.7% Lower 23 TEMP HOLDINGS 4.0% Lower 24 FULLCAST HLDGS 3.9% Lower 28 Insperity 3.1% Lower 30 IMPELLAM GROUP 2.8% Lower 36 中智(CIIC) 1.4% Lower 49 CHANDLER MACLEOD / / Talent dispatch/ lease/ placement 5 TRUEBLUE 26.8% Higher 13 罗致恒富(Robert Half) 8.4% Higher 15 On Assignment 7.5% Higher 27 德科(Adecco) 3.3% Lower 29 CDI Corporation 2.9% Lower 33 万宝盛华集团 (ManpowerGroup) 2.0% Lower 37 必胜人力资源(KELLY) 1.3% Lower 38 保圣那(PASONA) 1.1% Lower 39 任仕达(randstad) 0.7% Lower 40 CORPORATE RESOURCE SERVICES 0.3% Lower 44 usg people -5.7% Lower Headhunting & RPO 7 RECRUIT 14.3% Higher 9 HRnet One 12.4% Higher 11 光辉国际(KORN/FERRY INTERNATIONAL) 10.0% Higher 14 明达科(MEITEC) 8.1% Higher 18 米高蒲志国际(PageGroup) 6.6% Higher HRoot Global 50 HR Service Providers 2013 (Ranked by Operating Margin of Main Business) 32
  • 33. GLOBAL 50 HUMAN RESOURCES SERVICE PROVIDERS 2013 Industry Rank 2013 Company LOGO Country Annual revenue growth rate Compared with industry average Headhunting & RPO 19 SYNERGIE 1.0% Lower 33 翰德(Hudson) -0.7% Lower 43 Clarius Group -1.1% Lower 25 KFORCE -1.3% Lower 41 bluestone -9.8% Lower 6 瀚纳仕(HAYS) / / 45 hydrogen / / 27 sthree / / 28 华德士(ROBERT WALTERS) / / 36 HARVEY NASH / / 47 HRnet One / / HR management software 50 ClickSoftware 7.5% Higher 42 Ultimate SOFTWARE 4.4% Higher 49 Cornerstone ONDEMAND -26.6% Lower 44 workday -43.6% Lower 30 克罗诺思(KRONOS) / / Online recruitment 46 前程无忧(www.51job.com) 31.3% Higher 48 Dice Holdings 19.5% Higher 26 Linkedin 2.2% Lower 29 monsterworldwide -29.1% Lower 39 seek / / HR consulting 13 韬睿惠悦(TOWERS WATSON) 7.6% Higher 35 荟才(RESOURCES GLOBAL PROFESSIONALS) 7.2% Lower 10 怡安翰威特(Aon Hewitt) / / 11 美世(MERCER) / / Industry Rank 2013 Company LOGO Country Annual revenue growth rate Compared with industry average HR service outsourcing 16 PAYCHEX 24.6% Higher 4 安德普翰(ADP) 13.7% Higher 38 FULLCAST HLDGS 3.9% Lower 40 BBSI 3.3% Lower 14 TEMP HOLDINGS 2.4% Lower 18 IMPELLAM GROUP 2.0% Lower 17 Insperity 1.9% Lower 8 中智(CIIC) 1.1% Lower 21 CHANDLER MACLEOD 1.0% Lower Talent dispatch/ lease/ placement 9 罗致恒富(Robert Half) 5.1% Higher 23 On Assignment 3.4% Higher 22 TRUEBLUE 2.4% Higher 1 德科(Adecco) 1.8% Higher 24 CDI Corporation 1.8% Higher 3 万宝盛华集团 (ManpowerGroup) 1.0% Higher 7 必胜人力资源(KELLY) 0.9% Equal 2 任仕达(randstad) 0.2% Lower 34 CORPORATE RESOURCE SERVICES -0.5% Lower 12 usg people -6.7% Lower 15 保圣那(PASONA) / / Headhunting & RPO 32 光辉国际(KORN/FERRY INTERNATIONAL) 6.6% Higher 20 米高蒲志国际(PageGroup) 6.2% Higher 5 RECRUIT 4.6% Higher 31 明达科(MEITEC) 4.2% Higher 37 海德思哲 (HEIDRICK&STRUGGLES) 1.3% Lower HRoot Global 50 HR Service Providers 2013 (Ranked by Net Profit Margin of Main Business) 33
  • 34. GLOBAL 50 HUMAN RESOURCES SERVICE PROVIDERS 2013 Industry Rank 2013 Company LOGO Country Annual revenue growth rate Compared with industry average Headhunting & RPO 43 Clarius Group -3.9% Lower 33 翰德(Hudson) -5.0% Lower 25 KFORCE -8.2% Lower 41 bluestone -95.4% Lower 19 SYNERGIE / / 6 瀚纳仕(HAYS) / / 45 hydrogen / / 27 sthree / / 28 华德士(ROBERT WALTERS) / / 36 HARVEY NASH / / 47 HRnet One / / HR management software 42 Ultimate SOFTWARE 12.8% Higher 50 ClickSoftware 11.9% Lower 44 workday -20.1% Lower 49 Cornerstone ONDEMAND -67.0% Lower 30 克罗诺思(KRONOS) / / Online recruitment 48 Dice Holdings 20.0% Higher 46 前程无忧(www.51job.com) 17.8% Higher 26 Linkedin 2.4% Lower 29 monsterworldwide -29.4% Lower 39 seek / / HR consulting 35 "荟才 (RESOURCES GLOBAL PROFESSIONALS)" 11.2% Higher 13 韬睿惠悦(TOWERS WATSON) 10.6% Lower 10 怡安翰威特(Aon Hewitt) / / 11 美世(MERCER) / / Industry Rank 2013 Company LOGO Country Annual revenue growth rate Compared with industry average HR service outsourcing 16 PAYCHEX 34.1% Higher 38 FULLCAST HLDGS 26.4% Higher 40 BBSI 24.4% Higher 4 安德普翰(ADP) 22.7% Higher 8 中智(CIIC) 21.1% Higher 18 IMPELLAM GROUP 18.6% Lower 17 Insperity 16.6% Lower 21 CHANDLER MACLEOD 10.1% Lower 14 TEMP HOLDINGS 9.2% Lower Talent dispatch/ lease/ placement 9 罗致恒富(Robert Half) 24.9% Higher 1 德科(Adecco) 10.2% Higher 22 TRUEBLUE 10.2% Higher 23 On Assignment 8.0% Higher 3 万宝盛华集团 (ManpowerGroup) 7.9% Higher 24 CDI Corporation 6.9% Higher 7 必胜人力资源(KELLY) 6.7% Higher 2 任仕达(randstad) 1.4% Lower 34 CORPORATE RESOURCE SERVICES -22.9% Lower 12 usg people -38.5% Lower 15 保圣那(PASONA) / / Headhunting & RPO 20 米高蒲志国际(PageGroup) 34.0% Higher 5 RECRUIT 11.3% Higher 32 光辉国际(KORN/FERRY INTERNATIONAL) 8.6% Higher 31 明达科(MEITEC) 7.6% Higher 37 海德思哲 (HEIDRICK&STRUGGLES) 2.5% Higher HRoot Global 50 HR Service Providers 2013 (Ranked by Return on Shareholder's Equity of Main Business) 34
  • 35. GLOBAL 50 HUMAN RESOURCES SERVICE PROVIDERS 2013 Industry Rank 2013 Company LOGO Country Annual revenue growth rate Compared with industry average Headhunting & RPO 33 翰德(Hudson) 44.9% Lower 32 光辉国际(KORN/FERRY INTERNATIONAL) 47.4% Higher 31 明达科(MEITEC) 47.7% Higher 28 华德士(ROBERT WALTERS) 48.8% Higher 27 sthree 49.8% Higher 25 KFORCE 61.0% Higher 20 米高蒲志国际(PageGroup) 61.2% Higher 19 SYNERGIE 62.5% Higher 5 RECRUIT 70.2% Higher 6 瀚纳仕(HAYS) 77.9% Higher 47 HRnet One / / HR management software 50 ClickSoftware 33.4% Lower 44 workday 38.2% Lower 49 Cornerstone ONDEMAND 72.7% Higher 42 Ultimate SOFTWARE 78.2% Higher 30 克罗诺思(KRONOS) / / Online recruitment 46 前程无忧(www.51job.com) 17.7% Lower 26 Linkedin 34.3% Lower 39 seek 44.6% Higher 48 Dice Holdings 46.2% Higher 29 monsterworldwide 47.8% Higher HR consulting 35 荟才(RESOURCES GLOBAL PROFESSIONALS) 15.0% Lower 13 韬睿惠悦(TOWERS WATSON) 54.1% Higher 10 怡安翰威特(Aon Hewitt) / / 11 美世(MERCER) / / Industry Rank 2013 Company LOGO Country Annual revenue growth rate Compared with industry average HR service outsourcing 14 TEMP HOLDINGS 33.9% Lower 38 FULLCAST HLDGS 34.4% Lower 21 CHANDLER MACLEOD 56.8% Lower 18 IMPELLAM GROUP 61.8% Higher 8 中智(CIIC) 64.3% Higher 17 Insperity 67.9% Higher 16 PAYCHEX 75.2% Higher 40 BBSI 76.5% Higher 4 安德普翰(ADP) 80.2% Higher Talent dispatch/ lease/ placement 24 CDI Corporation 30.2% Lower 9 罗致恒富(Robert Half) 39.0% Lower 22 TRUEBLUE 44.5% Lower 23 On Assignment 51.5% Lower 7 必胜人力资源(KELLY) 54.6% Higher 2 任仕达(randstad) 59.9% Higher 1 德科(Adecco) 61.5% Higher 12 usg people 63.0% Higher 3 万宝盛华集团 (ManpowerGroup) 64.3% Higher 34 CORPORATE RESOURCE SERVICES 69.2% Higher 15 保圣那(PASONA) / / Headhunting & RPO 45 hydrogen 25.8% Lower 43 Clarius Group 27.2% Lower 41 bluestone 35.4% Lower 37 海德思哲 (HEIDRICK&STRUGGLES) 38.0% Lower 36 HARVEY NASH 44.4% Lower HRoot Global 50 HR Service Providers 2013 (Ranked by Asset-Debt Ratio of Main Business) 35
  • 36. GLOBAL 50 HUMAN RESOURCES SERVICE PROVIDERS 2013 Industry Rank 2013 Company LOGO Country Annual revenue growth rate Compared with industry average Headhunting & RPO 25 KFORCE 1.7 Lower 5 RECRUIT 1.7 Lower 20 米高蒲志国际(PageGroup) 1.6 Lower 45 hydrogen 1.5 Lower 37 海德思哲 (HEIDRICK&STRUGGLES) 1.5 Lower 28 华德士(ROBERT WALTERS) 1.4 Lower 27 sthree 1.4 Lower 36 HARVEY NASH 1.1 Lower 41 bluestone 0.8 Lower 6 瀚纳仕(HAYS) 0.5 Lower 19 SYNERGIE / / HR management software 44 workday 3.5 Higher 50 ClickSoftware 3.3 Higher 49 Cornerstone ONDEMAND 1.2 Lower 42 Ultimate SOFTWARE 1.1 Lower 30 克罗诺思(KRONOS) / / Online recruitment 46 前程无忧(www.51job.com) 5.0 Higher 26 Linkedin 2.5 Higher 29 monsterworldwide 1.0 Lower 48 Dice Holdings 0.8 Lower 39 seek 0.7 Lower HR consulting 35 荟才(RESOURCES GLOBAL PROFESSIONALS) 3.7 Higher 13 韬睿惠悦(TOWERS WATSON) 1.6 Lower 10 怡安翰威特(Aon Hewitt) / / 11 美世(MERCER) / / Industry Rank 2013 Company LOGO Country Annual revenue growth rate Compared with industry average HR service outsourcing 38 FULLCAST HLDGS 2.7 Higher 8 中智(CIIC) 1.5 Higher 17 Insperity 1.3 Equal 40 BBSI 1.3 Equal 21 CHANDLER MACLEOD 1.2 Lower 4 安德普翰(ADP) 1.1 Lower 16 PAYCHEX 1.1 Lower 18 IMPELLAM GROUP 0.5 Lower 14 TEMP HOLDINGS / / Talent dispatch/ lease/ placement 22 TRUEBLUE 3.9 Higher 24 CDI Corporation 2.7 Higher 23 On Assignment 2.5 Higher 9 罗致恒富(Robert Half) 2.1 Higher 7 必胜人力资源(KELLY) 1.7 Lower 3 万宝盛华集团 (ManpowerGroup) 1.4 Lower 1 德科(Adecco) 1.3 Lower 34 CORPORATE RESOURCE SERVICES 1.0 Lower 2 任仕达(randstad) 0.8 Lower 12 usg people 0.7 Lower 15 保圣那(PASONA) / / Headhunting & RPO 47 HRnet One 3.8 Higher 31 明达科(MEITEC) 3.6 Higher 33 翰德(Hudson) 2.3 Higher 32 光辉国际(KORN/FERRY INTERNATIONAL) 2.3 Higher 43 Clarius Group 2.1 Higher HRoot Global 50 HR Service Providers 2013 (Ranked by Current Ratio of Main Business) 36
  • 37. GLOBAL 50 HUMAN RESOURCES SERVICE PROVIDERS 2013 Industry Rank 2013 Company LOGO Country Annual revenue growth rate Compared with industry average Headhunting & RPO 28 华德士(ROBERT WALTERS) 10.8 Lower 47 HRnet One / / 43 Clarius Group / / 25 KFORCE / / 20 米高蒲志国际(PageGroup) / / 45 hydrogen / / 37 海德思哲 (HEIDRICK&STRUGGLES) / / 27 sthree / / 41 bluestone / / 6 瀚纳仕(HAYS) / / 19 SYNERGIE / / HR management software 30 克罗诺思(KRONOS) / / 42 Ultimate SOFTWARE / / 44 workday / / 49 Cornerstone ONDEMAND / / 50 ClickSoftware / / Online recruitment 39 seek 8.8 Higher 26 Linkedin / / 29 monsterworldwide / / 39 seek / / 48 Dice Holdings / / HR consulting 10 怡安翰威特(Aon Hewitt) / / 11 美世(MERCER) / / 13 韬睿惠悦(TOWERS WATSON) / / 35 荟才(RESOURCES GLOBAL PROFESSIONALS) / / Industry Rank 2013 Company LOGO Country Annual revenue growth rate Compared with industry average HR service outsourcing 4 安德普翰(ADP) 276.6 Higher 8 中智(CIIC) 174.0 Higher 38 FULLCAST HLDGS 90.2 Equal 17 Insperity / / 40 BBSI / / 21 CHANDLER MACLEOD / / 16 PAYCHEX / / 18 IMPELLAM GROUP / / 14 TEMP HOLDINGS / / Talent dispatch/ lease/ placement 3 万宝盛华集团 (ManpowerGroup) 11.5 Higher 7 必胜人力资源(KELLY) 9.6 Higher 23 On Assignment 5.2 Higher 22 TRUEBLUE / / 24 CDI Corporation / / 9 罗致恒富(Robert Half) / / 1 德科(Adecco) / / 34 CORPORATE RESOURCE SERVICES / / 2 任仕达(randstad) / / 12 usg people / / 15 保圣那(PASONA) / / Headhunting & RPO 31 明达科(MEITEC) 63.8 Higher 5 RECRUIT 40.4 Higher 32 光辉国际(KORN/FERRY INTERNATIONAL) 25.1 Higher 36 HARVEY NASH 18.9 Higher 33 翰德(Hudson) 12.1 Higher HRoot Global 50 HR Service Providers 2013 (Ranked by Current Ratio of Main Business) 37
  • 38. Company name in Chinese: 德科 Company name in English: Adecco Headquarters: Geneva, Switzerland Country: Switzerland Established: 1957 Website: http://www.adecco.com Main Business: Talent Dispatch/Lease/ Placement Annual revenue of 2012 26,391 million dollars Stock Exchange: New York, Pairs, Switzerland Stock Exchange Stock Code: ADEN/ADE About: Operating profit Net profit Pre-tax profit Shareholders' equity 865 485 750 4,754 Major financial data in Fiscal 2012(Unit: $ million) Major financial ratios in Fiscal 2012 The Adecco Group (SWX: ADEN; EURONEXT: ADE) is the world’s leading provider of HR solutions. Adecco has over 5,500 offices in over 60 countries, with over 33,000 employees. Every day, Adecco provides 700,000 employees and 100,000 companies headhunting services of middle and senior management positions, temporary staffing, permanent placement, outsourcing, outplacement, training and consulting. Founded in 1957, headquartered in Switzerland, Adecco (SWX: ADEN; EURONEXT: ADE) is placed no.443 of Global Fortune 500 companies in the fiscal year 2013. Total assets by the end of 2012 Average total assets Current assets Current liabilities 12,355 12,679 12,679 4,977 Receivable by the end of 2012 Average receivable Total liabilities Interest expense 4488 4,833 7,601 / Indicator Ratio Compared with in- dustry average Net profit margin 1.80% Higher ROE 10.20% Higher Debt-asset ratio 61.50% Higher Current ratio 1 Lower Times Interest Earned / / Indicator Ratio Compared with in- dustry average Revenue growth rate -7.60% Lower Total turnover ratio 2.1 Lower Accounts receivable turnover ratio 5.5 Lower ROA 3.80% Higher Operating margin 3.30% Higher Company Profile Adecco IncNO.1 GLOBAL 50 HUMAN RESOURCES SERVICE PROVIDERS 2013 38
  • 39. Operating profit Net profit Pre-tax profit Shareholders' equity 164 48 750 3,501 Major financial data in Fiscal 2012(Unit: $ million) Major financial ratios in Fiscal 2012 Total assets by the end of 2012 Average total assets Current assets Current liabilities 8,735 9,772 4,002 5,074 Receivable by the end of 2012 Average receivable Total liabilities Interest expense 3,692 4,045 5,233 / Indicator Ratio Compared with in- dustry average Net profit margin 0.20% Lower ROE 1.40% Lower Debt-asset ratio 59.90% Higher Current ratio 0.8 Lower Times Interest Earned / / Indicator Ratio Compared with in- dustry average Revenue growth rate -2.70% Lower Total turnover ratio 2.2 Lower Accounts receivable turnover ratio 5.4 Lower ROA 0.50% Lower Operating margin 0.70% Lower Company name in Chinese: 任仕达 Company name in English: randstad Headquarters: Amsterdam, Netherlands Country: Netherlands Established: 1960 Website: http://www.randstad.com Main Business: Talent Dispatch/Lease/ Placement Annual revenue of 2012 21,959 million dollars Stock Exchange: Amsterdam Stock Exchange Stock Code: RAND About: randstadNO.2 Randstad (AMS:RAND), founded in 1960 and headquartered in Amsterdam, the Netherlands, is a listed company in New York Stock Exchange. Starting as a talent dispatch company in the 1960s, Randstad Group has been developed into a human resources service transnational company that covers over 40 countries worldwide and over 4100 branches. The core business of the group includes: the services of recruitment of professional staff, flexible recruitment, dispatch of professional staff, resident services and integrated human resources service solu- tions. Randstad Group entered Chinese market in 2006, and currently it has branches in Beijing, Shanghai, Guangzhou, Shenzhen,Suzhou and other cities. Each year it successfully recruited more than thousands of senior management per- sonnel for the Chinese enterprises, and manage tens of thousands of dispatched and outsourced employees. Randstad had an operating revenue of 225, 60 million dollars, ranking 489 in Fortune Global 500 in 2012. GLOBAL 50 HUMAN RESOURCES SERVICE PROVIDERS 2013 39
  • 40. Company name in Chinese: 万宝盛华 Company name in English: ManpowerGroup Headquarters: Wisconsin, United States of America Country: United States of America Established: 1948 Website: http://www.manpowergroup.com Main Business: Talent Dispatch/Lease/Placement Annual revenue of 2012 20,678 million dollars Stock Exchange: New York Stock Exchange Stock Code: MAN About: ManpowerGroupNO.3 ManpowerGroup (NYSE:MAN), founded in 1948, is a world leader in global pioneering human re- sources solutions, creates and delivers services to help customers to achieve their goals on business and human resources objectives and meanwhile enhances customers’competitiveness. With an- nual turnover of 22 billion USD, Manpower provides a series of services covering the whole employ- ment life cycle and business cycle to employers, including talents searching and selecting, temporary and contractual dispatch services, employee assessment and selection, training service, outplacement service, as well as outsourcing and consulting services. Manpower has the largest service network in global human resources service industry, and its worldwide network of nearly 3,900 offices in 80 countries and territories enables the company to meet the needs of its 400,000 clients per year. In 1994, for the first time Manpower developed its business to Great China, and presently it has over 500 professional recruiters in 22 main cities in Chinese Mainland. In Chinese mainland, it has customers of over 3500 transnational companies and local companies and has over 500,000 medium-and-high-level urgently-needed talents. It ranked 500 in Fortune Global 500 in 2012. Operating profit Net profit Pre-tax profit Shareholders' equity 412 198 368 2,502 Major financial data in Fiscal 2012(Unit: $ million) Major financial ratios in Fiscal 2012 Total assets by the end of 2012 Average total assets Current assets Current liabilities 7,013 6,956 5,061 3,677 Receivable by the end of 2012 Average receivable Total liabilities Interest expense 4,179 4,180 4,511 35 Indicator Ratio Compared with in- dustry average Net profit margin 1.00% Higher ROE 7.90% Higher Debt-asset ratio 64.30% Higher Current ratio 1.4 Lower Times Interest Earned 11.5 Higher Indicator Ratio Compared with in- dustry average Revenue growth rate -6.00% Lower Total turnover ratio 3.0 Lower Accounts receivable turnover ratio 4.9 Lower ROA 2.80% Higher Operating margin 2.00% Lower GLOBAL 50 HUMAN RESOURCES SERVICE PROVIDERS 2013 40
  • 41. Company name in Chinese: 安德普翰 Company name in English: ADP Headquarters: New Jersey, United States of America Country: United States of America Established: 1949 Website: http://www.adp.com Main Business: Human Resource Outsourcing Annual revenue of 2012 10,172 million dollars Stock Exchange: NASDAQ Stock Market Stock Code: ADP About: ADPNO.4 ADP (NASDAQ:ADP), founded in 1949, with annual income of nearly 10 billion USD and 570, 000 customers all over the world, is one of the world largest outsourcing solution providers. With nearly 60 years’ senior experience in the industry, ADP provides the most comprehensive human resources, remuneration, taxes and welfare management solutions in the industry. ADP also provides world’s leading integrated computer information solutions to global sedan, truck, motorcycle, ship and recreational vehicle dealers. In 2006, ADP entered Chinese market and began to provide world first-class human resources services and dealer services to companies in China through products of GlobalView® and Autoline®. In 2009, ADP successfully purchased China Link with an aim to bring more comprehensive localized human resources outsourcing solutions to Chinese market. Operating profit Net profit Pre-tax profit Shareholders' equity 21 14 2,122 6,114 Major financial data in Fiscal 2012(Unit: $ million) Major financial ratios in Fiscal 2012 Total assets by the end of 2012 Average total assets Current assets Current liabilities 30,816 32,527 25,156 23,239 Receivable by the end of 2012 Average receivable Total liabilities Interest expense 1,399 1,382 24,702 8 Indicator Ratio Compared with in- dustry average Net profit margin 13.70% Higher ROE 22.70% Higher Debt-asset ratio 80.20% Higher Current ratio 1.1 Lower Times Interest Earned 276.6 Higher Indicator Ratio Compared with in- dustry average Revenue growth rate 3.00% Lower Total turnover ratio 0.3 Lower Accounts receivable turnover ratio 7.4 Lower ROA 4.30% Lower Operating margin 20.90% Higher GLOBAL 50 HUMAN RESOURCES SERVICE PROVIDERS 2013 41
  • 42. Company name in Chinese: / Company name in English: RECRUIT Headquarters: Tokyo Country: Japan Established: 1960 Website: http://www.recruit.co.jp/ Main Business: Headhunting&RPO Annual revenue of 2012 10,083 million dollars Stock Exchange: / Stock Code: / About: RECRUITNO.5 Founded on March 31, 1960, Recruit in Japan is known as RGF overseas. Recruit Group delivers "Meet your opportunity." to the world. since 2009, RECRUIT Group have developed under the corporate brand name "RGF". Individual talent varies from person to person. Recruit is committed to helping create a world in which everyone can live out their dreams and shine like a star. Operating profit Net profit Pre-tax profit Shareholders' equity 1,438 468 838 4,134 Major financial data in Fiscal 2012(Unit: $ million) Major financial ratios in Fiscal 2012 Total assets by the end of 2012 Average total assets Current assets Current liabilities 8,080 8,216 4,190 2,422 Receivable by the end of 2012 Average receivable Total liabilities Interest expense 1,717 5,035 3,946 21.3 Indicator Ratio Compared with in- dustry average Net profit margin 4.60% Higher ROE 11.30% Higher Debt-asset ratio 70.20% Higher Current ratio 1.7 Lower Times Interest Earned 40.4 Higher Indicator Ratio Compared with in- dustry average Revenue growth rate 7.20% Higher Total turnover ratio 1.2 Lower Accounts receivable turnover ratio 2 Lower ROA 5.70% Higher Operating margin 14.30% Higher GLOBAL 50 HUMAN RESOURCES SERVICE PROVIDERS 2013 42
  • 43. Company name in Chinese: 瀚纳仕 Company name in English: HAYS Headquarters: London, The United Kingdom Country: The United Kingdom Established: 1867 Website: http://www.haysplc.com Main Business: Headhunting&RPO Annual revenue of 2012 5,794 million dollars Stock Exchange: London Stock Exchange Stock Code: HAS About: HAYSNO.6 HAYS(LON:HAS)is a United Kingdom-based recruitment group engaged in the provision of specialist recruitment activities. As a professional human resources consulting service provider, Hays(LON:HAS), headquartered in Great Britain, is the largest headhunting company in Great Britain. Hays has 7,620 staff operating from 255 offices in 31 countries . Hays has market-leading positions in the UK, Asia Pacific, Con- tinental Europe and Latin America. Hays is the largest professional recruitment consulting company in Asia Pacific and it has set up 45 branches in Asia Pacific. In 2010, Hays declared the strategic measures of entering Chinese market which aims to become Chinese largest recruitment and consulting company, expects to rapidly expand its scale on the basis of its existing three subsidiaries in China in the next five years, and increase its headhunting consults to 300 from the cur- rent number of 80. Operating profit Net profit Pre-tax profit Shareholders' equity 203 / 193 303 Major financial data in Fiscal 2012(Unit: $ million) Major financial ratios in Fiscal 2012 Total assets by the end of 2012 Average total assets Current assets Current liabilities 1,368 1,388 854 1,813 Receivable by the end of 2012 Average receivable Total liabilities Interest expense 854 847 1.65 / Indicator Ratio Compared with in- dustry average Net profit margin / / ROE / / Debt-asset ratio 77.90% Higher Current ratio 0. 5 Lower Times Interest Earned / / Indicator Ratio Compared with in- dustry average Revenue growth rate 10.90% Higher Total turnover ratio 4.2 Higher Accounts receivable turnover ratio 6.8 Higher ROA / / Operating margin 3.50% Higher GLOBAL 50 HUMAN RESOURCES SERVICE PROVIDERS 2013 43
  • 44. Company name in Chinese: 上海必胜人力资源有限公司 Company name in English: KELLY Headquarters: Michigan, United States of America Country: United States of America Established: 1946 Website: http://www.kellyservices.com Main Business: Talent Dispatch/Lease/ Placement Annual revenue of 2012 5,451 million dollars Stock Exchange: NASDAQ Stock Market Stock Code: KELYA,KELYB About: Operating profit Net profit Pre-tax profit Shareholders' equity 72 50 69 742 Major financial data in Fiscal 2012(Unit: $ million) Major financial ratios in Fiscal 2012 Total assets by the end of 2012 Average total assets Current assets Current liabilities 1,636 1,589 1,193 722 Receivable by the end of 2012 Average receivable Total liabilities Interest expense 1,014 979 894 8 Indicator Ratio Compared with in- dustry average Net profit margin 0.90% 等于 ROE 6.70% Higher Debt-asset ratio 54.60% Higher Current ratio 1.7 Lower Times Interest Earned 9.6 Higher Indicator Ratio Compared with in- dustry average Revenue growth rate -1.80% Lower Total turnover ratio 3.4 Lower Accounts receivable turnover ratio 5.6 Lower ROA 3.10% Higher Operating margin 1.30% Lower KELLYNO.7 KELLY (NASDAQ: KELYA) founded in 1946, headquartered in Michigan, the USA. As the world’s leading HR solutions provider and workforce management service consulting firm, Kelly Services can meet the wide range and cross-departmental HR management demands of enterprises, including office management, marketing, finance, engineering, law, science, IT, education, and outsourcing consulting. Kelly Services has 2,600 branches in 37 countries and provides job opportunities for over 550,000 people every year. It provides services for over 90% of the Fortune Top 500 companies. It entered China since 2002. Its service network covers Beijing, Shanghai, Guangzhou, Suzhou, Chengdu, Nanchang, Tianjin, Shenzhen and Hong Kong. Kelly Services China provides all-rounded HR solutions, including middle- and senior-level talent selection, outsourcing, and third-party management, for famous enterprises. GLOBAL 50 HUMAN RESOURCES SERVICE PROVIDERS 2013 44
  • 45. Company name in Chinese: 中国国际技术智力合作公司 Company name in English: CIIC Headquarters: Beijing, China Country: China Established: 1987 Website: http://www.ciic.com.cn Main Business: Human Resource Outsourcing Annual revenue of 2012 5,333 million dollars Stock Exchange: / Stock Code: / About: Operating profit Net profit Pre-tax profit Shareholders' equity 74 57 80 270 Major financial data in Fiscal 2012(Unit: $ million) Major financial ratios in Fiscal 2012 Total assets by the end of 2012 Average total assets Current assets Current liabilities 756 669 713 486 Receivable by the end of 2012 Average receivable Total liabilities Interest expense 57 44 486 0.5 Indicator Ratio Compared with in- dustry average Net profit margin 1.10% Lower ROE 21.10% Higher Debt-asset ratio 64.30% Higher Current ratio 1. 5 Higher Times Interest Earned 174 Higher Indicator Ratio Compared with in- dustry average Revenue growth rate 18.90% Higher Total turnover ratio 8 Lower Accounts receivable turnover ratio 121.6 Higher ROA 8.50% Higher Operating margin 1.40% Lower CIICNO.8 Founded in 1987, China International Intellectech Corporationis one of the state-owned backbone enterprises under the direct management of the Chinese Central Government. Headquartered in Beijing, it has 87 subsidiaries and branches focusing on international cooperation in the fields of economy, technology and talent in China and other 76 countries and regions around the world. Keeping abreast of the latest development of knowledge-powered productivity amid the global economic integration, the mega trends of structural change and transfer of worldwide service sector as well as complete outsourcing especially offshore arrangements, and catering for China’s demands for restructuring of service industry and growing of new economic paradigms, CIIC has been building its core competence in the field of intellectual services, standing out as the leading HR service provider which demonstrates proven competitiveness and influence in talents, resources, networks, scale and experience. Furthermore, it is extending its expertise to new fields like investment and trading services. CIIC has becoming a newly exploring enterprise with its high competence and leading advantages. In 2011, CIIC’s operating income was 22.2 billion RMB and ranked the No.336 in top 500 enterprises in China in 2011. GLOBAL 50 HUMAN RESOURCES SERVICE PROVIDERS 2013 45
  • 46. Company name in Chinese: 罗致恒富 Company name in English: Robert Half Headquarters: California, United States of America Country: United States of America Established: 1948 Website: http://www.rhi.com Main Business: Talent Dispatch/Lease/ Placement Annual revenue of 2012 4,111 million dollars Stock Exchange: New York Stock Exchange Stock Code: RHI About: Operating profit Net profit Pre-tax profit Shareholders' equity 344 210 344 842 Major financial data in Fiscal 2012(Unit: $ million) Major financial ratios in Fiscal 2012 Total assets by the end of 2012 Average total assets Current assets Current liabilities 1,381 1,346 1,065 502 Receivable by the end of 2012 Average receivable Total liabilities Interest expense 513 503 539 / Indicator Ratio Compared with in- dustry average Net profit margin 5.10% Higher ROE 24.90% Higher Debt-asset ratio 39.00% Lower Current ratio 2.1 Higher Times Interest Earned / / Indicator Ratio Compared with in- dustry average Revenue growth rate 8.80% Lower Total turnover ratio 3.1 Lower Accounts receivable turnover ratio 8.2 Lower ROA 15.60% Higher Operating margin 8.40% Higher Robert Half (NYSE: RHI)provides specialized staffing and risk consulting services through such divisions as Accountemps, Robert Half Finance & Accounti ng, Offi ceTeam, Robert Half Technology, Robert Half Management Resources, Robert Half Legal, The Creative Group, and Protiviti. Through its Accountemps, Robert Half Finance & Accounting, and Robert Half Management Resources divisions, is a provider of temporary, full-ti me, and project professionals in the fields of accounting and finance. Office Team specializes in temporary administrative support personnel. Robert Half Technology provides information technology professionals. Robert Half Legal provides temporary, project, and full-time staffing of attorneys and specialized support personnel within law firms and corporate legal departments. The Creati ve Group provides project staffing in the advertising, marketing, and Web design fields. Protiviti is a global business consulting and internal audit firm. Robert HalfNO.9 GLOBAL 50 HUMAN RESOURCES SERVICE PROVIDERS 2013 46
  • 47. Company name in Chinese: 怡安翰威特 Company name in English: AON Hewitt Headquarters: London Country: Britain Established: 1982 Website: http://www.aonhewitt.com/ Main Business: HR Consulting Annual revenue of 2012 3,925 million dollars Stock Exchange: / Stock Code: / About: Operating profit Net profit Pre-tax profit Shareholders' equity 289 / / / Major financial data in Fiscal 2012(Unit: $ million) Major financial ratios in Fiscal 2012 Total assets by the end of 2012 Average total assets Current assets Current liabilities / / / / Receivable by the end of 2012 Average receivable Total liabilities Interest expense / / / / Indicator Ratio Compared with in- dustry average Net profit margin / / ROE / / Debt-asset ratio / / Current ratio / / Times Interest Earned / / Indicator Ratio Compared with in- dustry average Revenue growth rate 3.80% Lower Total turnover ratio / / Accounts receivable turnover ratio / / ROA / / Operating margin 7.40% Lower In 2010, Aon Consulting mergered with Hewitt Associates to establish Aon Hewitt. Aon Hewitt is the world largest comprehensive human resources outsourcing and human resources management consulting company, which carries out business in 90 countries and territories with 29,000 employees and which had 4.3 billion joint income in 2010. Aon Hewitt provides consulting, remuneration and welfare management services to more than half of world top 500 companies. Aon Hewitt’s headquarter in China is located in Shanghai, and it has 6 offices and over 300 staff in Shanghai, Beijing, Guangzhou, Shenzhen, Chengdu, Nanjing,Taibei and Hongkong in Great China, which plays a leading role in human resources management consulting field in China. AON HewittNO.10 GLOBAL 50 HUMAN RESOURCES SERVICE PROVIDERS 2013 47
  • 48. Company name in Chinese: 美世 Company name in English: MERCER Headquarters: New York, United States Country: United States Established: 1937 Website: http://www.mercer.com Main Business: HR Consulting Annual revenue of 2012 3,916 million dollars Stock Exchange: New York, Chicago, London Stock Ex- change Stock Code: MMC About: Operating profit Net profit Pre-tax profit Shareholders' equity / / / / Major financial data in Fiscal 2012(Unit: $ million) Major financial ratios in Fiscal 2012 Total assets by the end of 2012 Average total assets Current assets Current liabilities / / / / Receivable by the end of 2012 Average receivable Total liabilities Interest expense / / / / Indicator Ratio Compared with in- dustry average Net profit margin / / ROE / / Debt-asset ratio / / Current ratio / / Times Interest Earned / / Indicator Ratio Compared with in- dustry average Revenue growth rate 3.50% / Total turnover ratio / / Accounts receivable turnover ratio / / ROA / / Operating margin / / MERCER, founded in 1937 and headquartered in America, is a world leading con- sulting outsourcing and investment service provider, and is world largest human resources management consulting company and world largest benefits outsourcing provider with 25,000 customers. Mercer helps its customers to maximally enhance performance of their staff’s health, benefits and retirement plan, and optimize labor force performance while managing costs. Mercer also provides custom- ized management, technical and overall benefits outsourcing solutions. The investment services of Mercer include world leading design and management of investment, consulting and retirement as well as investment management of multiple managers. Mercer has over 20,000 employees in over 40 countries. As a wholly-owned subsidiaries of MMC, Mercer together with Marsh, Kroll and Guy Carpenter provides overall services to customers. Mercer entered Chinese market in 1995, and currently it has 7 branches in Beijing, Shanghai, Guangzhou, Shenzhen, Dalian, Hong Kong and Taiwan with over 600 consultants and over 3,000 customers in China. MERCERNO.11 GLOBAL 50 HUMAN RESOURCES SERVICE PROVIDERS 2013 48
  • 49. Company name in Chinese: / Company name in English: usg people Headquarters: Amsterdam Country: Netherlands Established: 1979 Website: http://www.usgpeople.com Main Business: Talent Dispatch/Lease/Placement Annual revenue of 2012 3,696 million dollars Stock Exchange: AMS Stock Code: USG About: Operating profit Net profit Pre-tax profit Shareholders' equity -211 -246 -227 641 Major financial data in Fiscal 2012(Unit: $ million) Major financial ratios in Fiscal 2012 Total assets by the end of 2012 Average total assets Current assets Current liabilities 1,732 2,017 566 777 Receivable by the end of 2012 Average receivable Total liabilities Interest expense 512 580 1,092 / Indicator Ratio Compared with in- dustry average Net profit margin -6.70% Lower ROE -38.50% Lower Debt-asset ratio 63.00% Higher Current ratio 0.7 Lower Times Interest Earned / / Indicator Ratio Compared with in- dustry average Revenue growth rate -18.10% Higher Total turnover ratio 1.8 Lower Accounts receivable turnover ratio 6.4 Lower ROA -12.20% Lower Operating margin -5.70% Lower USG People(AMS:USG), is a specialized provider of employment services in Europe, focusing on the market segments general and specialist tem- porary employment, professional secondment and projects, HR services and customer care. We provide this range of services through our independent operating companies. Our companies are active in eight European countries: Austria, Belgium, France, Germany, Italy, Luxemburg, the Netherlands and Switzerland. USG People shares are listed on the stock exchange NYSE Euronext Amsterdam. usg peopleNO.12 GLOBAL 50 HUMAN RESOURCES SERVICE PROVIDERS 2013 49
  • 50. Company name in Chinese: 韬睿惠悦 Company name in English: TOWERS WATSON Headquarters: NewYork, United States of America Country: United States of America Established: 2010 Website: http://www.towerswatson.com Main Business: HR Consulting Annual revenue of 2012 3,420 million dollars Stock Exchange: New York Stock Exchange Stock Code: TW About: Operating profit Net profit Pre-tax profit Shareholders' equity 400 260 406 2,457 Major financial data in Fiscal 2012(Unit: $ million) Major financial ratios in Fiscal 2012 Total assets by the end of 2012 Average total assets Current assets Current liabilities 5,357 5,228 1,759 1,103 Receivable by the end of 2012 Average receivable Total liabilities Interest expense 884 831 2,900 / Indicator Ratio Compared with in- dustry average Net profit margin 7.60% Lower ROE 10.60% Lower Debt-asset ratio 54.10% Higher Current ratio / Lower Times Interest Earned / / Indicator Ratio Compared with in- dustry average Revenue growth rate 4.90% Higher Total turnover ratio 0.7 Lower Accounts receivable turnover ratio 4.1 Lower ROA 5.00% Lower Operating margin 11.70% Lower TOWERS WATSON (NYSE:TW) is a professional services firm focused on pro- viding consulting and other professional services related to employee benefits, human capital and risk and financial management. It provides advisory services on critical human capital management issues to help its clients manage their costs, talent and risk. It offers clients ser- vices across three business segments: Benefits, Risk and Financial Services, and Talent and Rewards. Towers Watson was formed on January 1, 2010, from the merger of Towers, Perrin, Forster & Crosby, Inc. (Towers Perrin) and Watson Wyatt Worldwide, Inc. (Watson Wyatt). It helps its clients improve business performance by improving their ability to at- tract, retain and motivate employees and to manage and mitigate risk. It focuses on delivering consulting services and technology solutions to help organizations anticipate, identify and capitalize on emerging opportunities in benefits and human capital management. TOWERS WATSONNO.13 GLOBAL 50 HUMAN RESOURCES SERVICE PROVIDERS 2013 50
  • 51. Company name in Chinese: / Company name in English: TEMP HOLDINGS Headquarters: Tokyo Country: Japan Established: 2008 Website: http://www.temp-holdings.co.jp/ Main Business: Human Recourses Outsourcing Annual revenue of 2012 3,090 million dollars Stock Exchange: Tokyo Stock Exchange Stock Code: 2181 About: Operating profit Net profit Pre-tax profit Shareholders' equity 123 74 / 806 Major financial data in Fiscal 2012(Unit: $ million) Major financial ratios in Fiscal 2012 Total assets by the end of 2012 Average total assets Current assets Current liabilities 1,220 1,172 / / Receivable by the end of 2012 Average receivable Total liabilities Interest expense / / 414 / Indicator Ratio Compared with in- dustry average Net profit margin 2.40% Lower ROE 9.20% Lower Debt-asset ratio 33.90% Lower Current ratio / / Times Interest Earned / / Indicator Ratio Compared with in- dustry average Revenue growth rate 1.90% Lower Total turnover ratio 2.6 Lower Accounts receivable turnover ratio / / ROA 6.30% Higher Operating margin 4.00% Lower TEMP HOLDINGS (TYO: 2181) focused on Management planning, administration, and operations related to subsidiary and group compa- nies that handle temporary staffing and placement services. Founded in 2008, listed on the Tokyo Stock Exchange, with total assets of 20 billion yen, 5,061 employees and 258 offices throughout Japan, also 13 offices in Los Angeles, Seattle, Shanghai, Suzhou, Guangzhou, Shenzhen, Hong Kong, Taiwan, South Ko- rea, Singapore, Indonesia. TEMP HOLDINGSNO.14 GLOBAL 50 HUMAN RESOURCES SERVICE PROVIDERS 2013 51
  • 52. Company name in Chinese: 保圣那 Company name in English: PASONA Headquarters: Tokyo Country: Japan Established: 1976 Website: http://www.pasonagroup.co.jp/ Main Business: Talent Dispatch/Lease/Placement Annual revenue of 2012 2,269 million dollars Stock Exchange: Tokyo Stock Exchange Stock Code: 2168 About: Operating profit Net profit Pre-tax profit Shareholders' equity 25 / / / Major financial data in Fiscal 2012(Unit: $ million) Major financial ratios in Fiscal 2012 Total assets by the end of 2012 Average total assets Current assets Current liabilities 886 902 / / Receivable by the end of 2012 Average receivable Total liabilities Interest expense / / / / Indicator Ratio Compared with in- dustry average Net profit margin / Higher ROE / Higher Debt-asset ratio / Higher Current ratio / Lower Times Interest Earned / / Indicator Ratio Compared with in- dustry average Revenue growth rate -2.40% Lower Total turnover ratio 2.5 Lower Accounts receivable turnover ratio / / ROA / / Operating margin 1.10% Lower PASONA (Tokyo Stock Exchange: 2168), founded in 1976, is a provider of human resources solutions which provide temporary employees dispatched, human resources consulting, corporate recruitment, job outsourcing, employee life solutions, knowledge sharing service. Listed on the Tokyo Stock Exchange. Currently, the Group’s total assets value 5 billion yen, and Pasona value 3 billion yen in assets. PASONANO.15 GLOBAL 50 HUMAN RESOURCES SERVICE PROVIDERS 2013 52
  • 53. Company name in Chinese: / Company name in English: PAYCHEX Headquarters: New York, United States of America Country: United States of America Established: 1971 Website: http://www.paychex.com Main Business: Human Resource Outsourcing Annual revenue of 2012 2,230 million dollars Stock Exchange: NASDAQ Stock Market Stock Code: PAYX About: Operating profit Net profit Pre-tax profit Shareholders' equity 854 548 860 1,605 Major financial data in Fiscal 2012(Unit: $ million) Major financial ratios in Fiscal 2012 Total assets by the end of 2012 Average total assets Current assets Current liabilities 6,480 5,937 5,076 4,746 Receivable by the end of 2012 Average receivable Total liabilities Interest expense 142 152 4,875 / Indicator Ratio Compared with in- dustry average Net profit margin 24.60% Higher ROE 34.10% Higher Debt-asset ratio 75.20% Higher Current ratio 1.1 Lower Times Interest Earned / / Indicator Ratio Compared with in- dustry average Revenue growth rate 7.00% Lower Total turnover ratio 0.4 Lower Accounts receivable turnover ratio 14.7 Lower ROA 9.20% Higher Operating margin 38.30% Higher PAYCHEX (NASDAQ:PAYX) is a provider of payroll, human resource and ben- efits outsourcing solutions for small to medium-sized businesses. As of May 31, 2009, the Company serviced approximately 554,000 clients. As of May 31, 2009, it serviced approximately 1,600 clients in Germany through its offices. It offers a portfolio of services and products that allow its clients to meet their diverse payroll and human resource needs. These include payroll processing, payroll tax administration services, employee payment services, regulatory compliance services (new-hire reporting and garnish- ment processing), human resource outsourcing services, retirement services administration, health and benefits ser- vices, workers’ compensation insurance services, time and attendance solutions and other human resource services and products. In October 2009, the Company announced the sale of Stromberg, a time and attendance company serving mid- to large-sized businesses, to Kronos Incorporated. PAYCHEXNO.16 GLOBAL 50 HUMAN RESOURCES SERVICE PROVIDERS 2013 53
  • 54. Company name in Chinese: / Company name in English: Insperity Headquarters: Texas, United States of America Country: United States of America Established: 1986 Website: http://www.administaff.com Main Business: Human Resource Outsourcing Annual revenue of 2012 2,159 million dollars Stock Exchange: New York Stock Exchange Stock Code: NSP About: Operating profit Net profit Pre-tax profit Shareholders' equity 68 40 68 241 Major financial data in Fiscal 2012(Unit: $ million) Major financial ratios in Fiscal 2012 Total assets by the end of 2012 Average total assets Current assets Current liabilities 750 731 552 436 Receivable by the end of 2012 Average receivable Total liabilities Interest expense 190 182 509 / Indicator Ratio Compared with in- dustry average Net profit margin 1.90% Lower ROE 16.60% Lower Debt-asset ratio 67.90% Higher Current ratio 1.3 等于 Times Interest Earned / / Indicator Ratio Compared with in- dustry average Revenue growth rate 9.20% Lower Total turnover ratio 3 Lower Accounts receivable turnover ratio 11.9 Lower ROA 5.50% Higher Operating margin 3.10% Lower InsperityNO.17 Insperity (NYSE: NSP), formerly Administaff, Inc., is a provider of human resources (HR) and business performance solutions for the United State’s businesses. The Compa- ny provides a range of human resource and business solutions. The Company’s pri- mary services include workforce optimization, MidMarket solutions, performance management, expense man- agement, time and attendance, organizational planning, recruiting services, employment screening, retirement services, business insurance and technology services. The Company’s workforce optimization services include administrative services, employee benefits, worker’s compensation, payroll, HR support and compensation and Government compliance. Its recruiting services include recruiting and hiring, and employee retention. MidMarket solution includes administrative relief. The Company’s employment screening includes background checks and profile screening. GLOBAL 50 HUMAN RESOURCES SERVICE PROVIDERS 2013 54
  • 55. Company name in Chinese: / Company name in English: IMPELLAM GROUP Headquarters: Luton, United Kingdom Country: United Kingdom Established: / Website: http://www.impellam.com/ Main Business: Human Resource Outsourcing Annual revenue of 2012 1,920 million dollars Stock Exchange: London Stock Exchange Stock Code: IPEL About: Operating profit Net profit Pre-tax profit Shareholders' equity 54 38 25 204 Major financial data in Fiscal 2012(Unit: $ million) Major financial ratios in Fiscal 2012 Total assets by the end of 2012 Average total assets Current assets Current liabilities 534 529 192 361 Receivable by the end of 2012 Average receivable Total liabilities Interest expense 361 331 330 / Indicator Ratio Compared with in- dustry average Net profit margin 2.00% Lower ROE 18.60% Lower Debt-asset ratio 61.80% Higher Current ratio 0.5 Lower Times Interest Earned / / Indicator Ratio Compared with in- dustry average Revenue growth rate 9.30% Lower Total turnover ratio 3.6 Higher Accounts receivable turnover ratio 5.8 Lower ROA 7.20% Higher Operating margin 2.80% Lower IMPELLAM GROUPNO.18 IMPELLAM GROUP (LON:IPEL) is a leading provider of human capital services, including innovative solutions for the workforce, business process outsourcing (BPO), expertise in technical, professional and medical talent, flexible workforce consulting, staffing and recruitment. The Group, trading on AIM, conducts business primarily in the UK and the US, with smaller operations in Australia, Ireland, New Zealand and mainland Europe. The Company has five segments: Healthcare, UK Commercial, UK Professional & Technical, US Staffing and Support Services. The Company’s Healthcare Staffing business includes brands like Medacs Healthcare and Chrysalis Homecare. The UK Commercial Staffing segment is a provider of specialised temporary and permanent recruitment services to a portfolio of public and private sector clients. The UK Professional & Technical brands provide permanent, temporary and contract recruitment services. The US Staffing brands provide recruitment services ranging from tem- porary staffing to permanent placement. The category of Support Services brands includes facilities services, event support services, retail merchandising services, shopfitting and procurement management. The Group employees nearly 6,000 people, including 2,200 managers and consultants and more than 3,800 support services workers, across a network of 230 branch and regional offices. GLOBAL 50 HUMAN RESOURCES SERVICE PROVIDERS 2013 55
  • 56. Company name in Chinese: / Company name in English: SYNERGIE Headquarters: / Country: France Established: / Website: http://www.synergie.fr/group-uk-intro. php Main Business: Headhunting & RPO Annual revenue of 2012 1,862 million dollars Stock Exchange: EPA Stock Code: SDG About: Operating profit Net profit Pre-tax profit Shareholders' equity 46 19 45 / Major financial data in Fiscal 2012(Unit: $ million) Major financial ratios in Fiscal 2012 Total assets by the end of 2012 Average total assets Current assets Current liabilities / / / / Receivable by the end of 2012 Average receivable Total liabilities Interest expense / / / / Indicator Ratio Compared with in- dustry average Net profit margin 1.00% Lower ROE / / Debt-asset ratio 62.50% Higher Current ratio / / Times Interest Earned / / Indicator Ratio Compared with in- dustry average Revenue growth rate -0.70% Lower Total turnover ratio / / Accounts receivable turnover ratio / / ROA / / Operating margin 2.50% Lower SYNERGIENO.19 Synergie SA is a France-based company that specializes in human resources manage- ment. The Company’s activities include temporary employment, out-placement, social engineering, recrutment and training services. Synergie SA operates in a range of eco- nomic sectors, notably industry. The Company has over 500 agencies in several countries across Europe and in Canada. Synergie SA has a number of subsidiaries, including Synergie Formation (in France), Gestion Hunt (Canada), Synergie Human Resources (the Netherlands) and Synergie Temporary Help (the Czech Republic), SA SYNERGIE BELGIUM (Belgium), GESTION HUNT INC (Canada), SYNERGIE SUISSE SA (Switzerland), SARL SYNERGIE TRAVAIL TEMPORAIRE (Luxembourg), among others. GLOBAL 50 HUMAN RESOURCES SERVICE PROVIDERS 2013 56
  • 57. Company name in Chinese: 米高蒲志国际 Company name in English: PageGroup Headquarters: London, The United Kingdom Country: The United Kingdom Established: 1976 Website: http://www.michaelpageinternational. com Main Business: Headhunting & RPO Annual revenue of 2012 1,569 million dollars Stock Exchange: New York Stock Exchange Stock Code: MPI About: Operating profit Net profit Pre-tax profit Shareholders' equity 103 98 103 288 Major financial data in Fiscal 2012(Unit: $ million) Major financial ratios in Fiscal 2012 Total assets by the end of 2012 Average total assets Current assets Current liabilities 548 545 412 254 Receivable by the end of 2012 Average receivable Total liabilities Interest expense 290 297 260 / Indicator Ratio Compared with in- dustry average Net profit margin 6.20% Higher ROE 34.00% Higher Debt-asset ratio 61.20% Higher Current ratio 1.6 Lower Times Interest Earned / / Indicator Ratio Compared with in- dustry average Revenue growth rate -4.00% Lower Total turnover ratio 2.9 Higher Accounts receivable turnover ratio 5.3 Lower ROA 18.00% Higher Operating margin 6.60% Higher PageGroupNO.20 PageGroup (LON:MPI) was established in London in 1976, and it is the leading recruitment consulting institution to represent the high-end employers to be engaged in the professional recruitment business for long-term, contractual and temporary posts. Michael Page International has 162 offices in 34 countries in the world. Michael Page International is listed on board of London Stock Exchange, annual turnover is over 1 billion US Dollar. And it set up the first office in Shanghai, China in 2003. At present, Michael Page International has its offices in all main commercial centers of the world, including Hong Kong, London, New York, Paris, Tokyo, Toronto, Singapore and Sydney. GLOBAL 50 HUMAN RESOURCES SERVICE PROVIDERS 2013 57
  • 58. Company name in Chinese: / Company name in English: CHANDLER MACLEOD Headquarters: Sydney, Australia Country: Australia Established: / Website: http://www.chandlermacleod.com Main Business: Outsourcing Annual revenue of 2012 1,549 million dollars Stock Exchange: Australian Securities Exchange Stock Code: CMG About: Operating profit Net profit Pre-tax profit Shareholders' equity / 16 23 159 Major financial data in Fiscal 2012(Unit: $ million) Major financial ratios in Fiscal 2012 Total assets by the end of 2012 Average total assets Current assets Current liabilities 368 340 146 124 Receivable by the end of 2012 Average receivable Total liabilities Interest expense 209 168 209 / Indicator Ratio Compared with in- dustry average Net profit margin 1.00% Lower ROE 10.10% Lower Debt-asset ratio 56.80% Lower Current ratio 1.2 Lower Times Interest Earned / / Indicator Ratio Compared with in- dustry average Revenue growth rate 32.60% Higher Total turnover ratio 4.6 Higher Accounts receivable turnover ratio 9.2 Lower ROA 4.70% Lower Operating margin / / Chandler Macleod Group LimitedNO.21 CHANDLER MACLEOD(ASX:CMG) is engaged in the business of human re- source (HR) outsourcing, recruitment and consulting services. As of June 30, 2010, it offered complete and fully integrated recruitment and HR outsourcing services across blue-collar, white-collar, executive and professional recruitment and contracting. It also offered consulting ser- vices encompassing psychometric assessment, management, organisational development, executive coaching, out- placement, career transition, talent management, and redeployment. Its segments consist of: Workforce, which includes ready workforce, for staff aviation, Chandler Macleod health, providing tradespeople, semi-skilled and unskilled labour recruitment for the industrial sector; Recruitment that provides permanent and temporary recruitment services; Consult- ing that provides HR consulting and training; OCG, which is a New Zealand-based white collar and information technol- ogy provider, and CMyPeople, which is a web enabled assessment tool. GLOBAL 50 HUMAN RESOURCES SERVICE PROVIDERS 2013 58
  • 59. Company name in Chinese: / Company name in English: TRUEBLUE Headquarters: New York Country: America Established: 1989 Website: http://www.trueblueinc.com Main Business: Talent Dispatch/Lease/ Placement Annual revenue of 2012 1,390 million dollars Stock Exchange: NYSE Stock Code: TBI About: Operating profit Net profit Pre-tax profit Shareholders' equity 372 34 55 334 Major financial data in Fiscal 2012(Unit: $ million) Major financial ratios in Fiscal 2012 Total assets by the end of 2012 Average total assets Current assets Current liabilities 602 581 602 155 Receivable by the end of 2012 Average receivable Total liabilities Interest expense 167 160 268 / Indicator Ratio Compared with in- dustry average Net profit margin 2.40% Higher ROE 10.20% Higher Debt-asset ratio 44.50% Lower Current ratio 3.9 Higher Times Interest Earned / / Indicator Ratio Compared with in- dustry average Revenue growth rate 5.60% Lower Total turnover ratio 2.4 Lower Accounts receivable turnover ratio 8.7 Lower ROA 5.80% Higher Operating margin 26.80% Higher TRUEBLUENO.22 TRUEBLUE is the leading provider of blue-collar staffing. In 2009, TRUEBLUE con- nected approximately 300,000 people to work through the following brands: Labor Ready, Spartan Staffing, CLP Resources, PlaneTechs, and Centerline, and served approximately 175,000 businesses in the services, retail, wholesale, manufacturing, transportation, and construction industries. The TRUEBLUE family of companies provides individuals with opportunities for growth and customers with the help they need to succeed in today’s competitive en- vironment. GLOBAL 50 HUMAN RESOURCES SERVICE PROVIDERS 2013 59
  • 60. Company name in Chinese: / Company name in English: On Assignment Headquarters: California, the United States of America Country: the United States of America Established: 1985 Website: http://www.onassignment.com Main Business: Talent Dispatch Annual revenue of 2012 1,240 million dollars Stock Exchange: NASDAQ Stock Market Stock Code: ASGN About: Operating profit Net profit Pre-tax profit Shareholders' equity 93 43 75 533 Major financial data in Fiscal 2012(Unit: $ million) Major financial ratios in Fiscal 2012 Total assets by the end of 2012 Average total assets Current assets Current liabilities 1,098 754 294 119 Receivable by the end of 2012 Average receivable Total liabilities Interest expense 243 168 565 / Indicator Ratio Compared with in- dustry average Net profit margin 3.40% Higher ROE 8.00% Higher Debt-asset ratio 51.50% Lower Current ratio 2.5 Higher Times Interest Earned 5.2 Higher Indicator Ratio Compared with in- dustry average Revenue growth rate 107.60% Higher Total turnover ratio 1.6 Lower Accounts receivable turnover ratio 7.4 Lower ROA 5.70% Higher Operating margin 7.50% Higher On AssignmentNO.23 On Assignment (NASDAQ:ASGN) is a diversified professional staffing firm providing flex- ible and permanent staffing solutions in specialty skills, including laboratory/scientific, healthcare/nursing/physician, medical financial, information technology (IT) and engineer- ing. The Company provides clients in these markets with short-term or long-term as- signments of contract professionals, contract-to-permanent placement and direct placement of these professionals. The Company’s business consists of four operating segments: Life Sciences, Healthcare, Physician, and IT and Engi- neering. On October 1, 2009, the Company acquired Fox Hill & Associates. In April 2010, the Company completed the acquisition of The Cambridge Group Ltd., a provider of specialized staffing in Physician, Clinical/Scientific and IT. In July 2010, the Company acquired Sharpstream. In February 2011, the Company acquired Valesta. GLOBAL 50 HUMAN RESOURCES SERVICE PROVIDERS 2013 60
  • 61. Company name in Chinese: / Company name in English: CDI Corporation Headquarters: Philadelphia, United States of America Country: United States of America Established: 1950 Website: http://www.cdicorp.com/ Main Business: Talent Dispatch Annual revenue of 2012 1,105 million dollars Stock Exchange: New York Stock Exchange Stock Code: CDI About: Operating profit Net profit Pre-tax profit Shareholders' equity 32 19 32 280 Major financial data in Fiscal 2012(Unit: $ million) Major financial ratios in Fiscal 2012 Total assets by the end of 2012 Average total assets Current assets Current liabilities 401 396 282 104 Receivable by the end of 2012 Average receivable Total liabilities Interest expense 224 223 121 / Indicator Ratio Compared with in- dustry average Net profit margin 1.80% Higher ROE 6.90% Higher Debt-asset ratio 30.20% Lower Current ratio 2.7 Higher Times Interest Earned 10.7 Lower Indicator Ratio Compared with in- dustry average Revenue growth rate 4.30% Lower Total turnover ratio 2.8 Lower Accounts receivable turnover ratio 4.9 Lower ROA 4.90% Higher Operating margin 2.90% Lower CDI CorporationNO.24 CDI Corp. (NYSE:CDI) provides engineering and information technology outsourcing and pro- fessional staffing services to its customers. The Company provides project outsourcing services for its customers’ engineering, information technology and project management needs, staffing services to augment its customers’ workforces and a range of professional services to meet its customers’ permanent placement needs. The Company operates through four reporting seg- ments: Engineering Solutions (ES), Management Recruiters International (MRI), AndersElite (Anders) and Infor- mation Technology Solutions (ITS). In June 2010, the Company acquired L. Robert Kimball & Associates, Inc. In December 2010, the Company acquired the business of DSPCon, Inc. GLOBAL 50 HUMAN RESOURCES SERVICE PROVIDERS 2013 61
  • 62. Company name in Chinese: / Company name in English: KFORCE Headquarters: Florida, United States of America Country: United States of America Established: 1966 Website: http://www.kforce.com Main Business: Recruiting/Headhunting Annual revenue of 2012 1,082 million dollars Stock Exchange: NASDAQ Stock Market Stock Code: KFRC About: Operating profit Net profit Pre-tax profit Shareholders' equity -54 -14 -56 170 Major financial data in Fiscal 2012(Unit: $ million) Major financial ratios in Fiscal 2012 Total assets by the end of 2012 Average total assets Current assets Current liabilities 325 367 172 99 Receivable by the end of 2012 Average receivable Total liabilities Interest expense 152 164 155 1 Indicator Ratio Compared with in- dustry average Net profit margin -1.30% Lower ROE -8.20% Lower Debt-asset ratio 61.10% Higher Current ratio 1.7 Lower Times Interest Earned / / Indicator Ratio Compared with in- dustry average Revenue growth rate -2.60% Lower Total turnover ratio 2.9 Higher Accounts receivable turnover ratio 6.6 Lower ROA -3.80% Lower Operating margin -5.00% Higher KFORCENO.25 KFORCE (NASDAQ:KFRC) is a provider of professional and technical specialty staff- ing services and solutions. The Company provides its clients staffing services and solutions through four operating segments: Technology (Tech), Finance and Ac- counting (FA), Health and Life Sciences (HLS) and Government Solutions (GS). KFORCE organizes and manages its FA and Tech business units along regional market lines in Atlantic, North and Western markets. The HLS and GS segments are organized and managed by specialty because of the operating characteristics of each business. KFORCE’s staffing services consist of Flex and Search. In April 2009, KFORCEGovernment Solutions (KGS) and dNovus RDI merged to pro- vide a spectrum of solutions and services to government enterprises. GLOBAL 50 HUMAN RESOURCES SERVICE PROVIDERS 2013 62
  • 63. Company name in Chinese: / Company name in English: Linkedin Headquarters: California, USA Country: The USA Established: 2002 Website: http://www.linkedin.com/ Main Business: Online Recruitment Annual revenue of 2012 972 million dollars Stock Exchange: NASDAQ Stock Market Stock Code: LNKD About: Operating profit Net profit Pre-tax profit Shareholders' equity 57 22 57 908 Major financial data in Fiscal 2012(Unit: $ million) Major financial ratios in Fiscal 2012 Total assets by the end of 2012 Average total assets Current assets Current liabilities 1,382 1,128 1,019 415 Receivable by the end of 2012 Average receivable Total liabilities Interest expense 204 157 474 / Indicator Ratio Compared with in- dustry average Net profit margin 2.20% Lower ROE 2.40% Lower Debt-asset ratio 34.30% Lower Current ratio 2.5 Higher Times Interest Earned / Lower Indicator Ratio Compared with in- dustry average Revenue growth rate 86.30% Higher Total turnover ratio 0.9 Higher Accounts receivable turnover ratio 6.2 Lower ROA 1.90% Lower Operating margin 5.80% Lower LinkedinNO.26 Linkedin Corporation (NASDAQ: LNKD), established in December 2002 and launched in 2003, headquartered in Mountain View, California (Mountain View). On May 20, 2011, LinkedIn listed. Currently, LinkedIn has over 100 million users in more than 200 countries and regions. On LinkedIn platform, users can produce, manage and share their professional identity online, and establish or participate in professional networks. Users can access shared knowledge and insights, looking for business opportunities, and improve their productivity and success. GLOBAL 50 HUMAN RESOURCES SERVICE PROVIDERS 2013 63
  • 64. Company name in Chinese: / Company name in English: sthree Headquarters: London, United Kingdom Country: United Kingdom Established: 1986 Website: http://www.sthree.com/ Main Business: Recruitment/headhunting Annual revenue of 2012 915 million dollars Stock Exchange: London Stock Exchange Stock Code: STHR About: Operating profit Net profit Pre-tax profit Shareholders' equity 40 / 40 103 Major financial data in Fiscal 2012(Unit: $ million) Major financial ratios in Fiscal 2012 Total assets by the end of 2012 Average total assets Current assets Current liabilities 266 278 227 164 Receivable by the end of 2012 Average receivable Total liabilities Interest expense 181 177 163 / Indicator Ratio Compared with in- dustry average Net profit margin / / ROE / / Debt-asset ratio 49.80% Higher Current ratio 1.4 Lower Times Interest Earned / / Indicator Ratio Compared with in- dustry average Revenue growth rate 8.80% Higher Total turnover ratio 3.3 Higher Accounts receivable turnover ratio 5.2 Lower ROA / / Operating margin 4.30% Higher sthreeNO.27 sthree(LON:STHR) is a United Kingdom-based company engaged in the permanent and contract staffing business. The Company’s recruitment areas include banking and finance, ac- countancy, energy and natural resources, telecommunications, healthcare, engineering, pharma and biotech, human resources, information technology, legal, procurement and supply chain, sales, and marketing. It operates in four brands, including Computer Futures Solutions, Huxley Associates, Progres- sive and Real Staffing Group. The Company operates in three geographical segments: the United Kingdom, Continental Europe and the Rest of the World. During the fiscal year ended November 28, 2010 (fiscal 2010), the Company had 53 offices in 13 countries. GLOBAL 50 HUMAN RESOURCES SERVICE PROVIDERS 2013 64
  • 65. Company name in Chinese: 华德士 Company name in English: ROBERT WALTERS Headquarters: London, The United Kingdom Country: The United Kingdom Established: 1995 Website: http://www.robertwalters.com Main Business: Recruiting/Headhunting Annual revenue of 2012 900 million dollars Stock Exchange: LON Stock Code: RWA About: Operating profit Net profit Pre-tax profit Shareholders' equity 13 / 12 113 Major financial data in Fiscal 2012(Unit: $ million) Major financial ratios in Fiscal 2012 Total assets by the end of 2012 Average total assets Current assets Current liabilities 291 280 244 176 Receivable by the end of 2012 Average receivable Total liabilities Interest expense 203 191 177 1.2 Indicator Ratio Compared with in- dustry average Net profit margin / Higher ROE / Higher Debt-asset ratio 48.80% Higher Current ratio 1.4 Lower Times Interest Earned / / Indicator Ratio Compared with in- dustry average Revenue growth rate 9.80% Higher Total turnover ratio 3.2 Higher Accounts receivable turnover ratio 4.7 Lower ROA / / Operating margin 1.50% Lower ROBERT WALTERSNO.28 Robert Walters ,Established in 1985 and listed on the London Stock Exchange (RWA) since 2000, is one of the world’s leading professional recruitment con- sultancies. Robert Walters recruits across the accounting, finance, banking, IT, human resources, legal, sales and marketing, supply chain and engineering and support fields. Robert Walters has 47 offices in 23 countries and over 2,000 members of staff worldwide. Robert Walters in China has four branches: Shanghai, Suzhou, Beijing and Nanjing for the demand of Chinese enterprises recruitment and employees applying for jobs. GLOBAL 50 HUMAN RESOURCES SERVICE PROVIDERS 2013 65
  • 66. Company name in Chinese: / Company name in English: monsterworldwide Headquarters: New York, United States of America Country: United States of America Established: 1967 Website: http://www.monster.com Main Business: Online Recruitment Annual revenue of 2012 890 million dollars Stock Exchange: NASDAQ Stock Market Stock Code: MWW About: Operating profit Net profit Pre-tax profit Shareholders' equity 32 -259 26 880 Major financial data in Fiscal 2012(Unit: $ million) Major financial ratios in Fiscal 2012 Total assets by the end of 2012 Average total assets Current assets Current liabilities 1,685 1,871 580 585 Receivable by the end of 2012 Average receivable Total liabilities Interest expense 336 340 805 / Indicator Ratio Compared with in- dustry average Net profit margin -29.10% Lower ROE -29.40% Lower Debt-asset ratio 47.80% Higher Current ratio 1 Lower Times Interest Earned / / Indicator Ratio Compared with in- dustry average Revenue growth rate -14.40% Lower Total turnover ratio 0.5 Lower Accounts receivable turnover ratio 2.6 Lower ROA -13.80% Lower Operating margin 3.60% Lower monsterworldwideNO.29 monsterworldwide (NASDAQ:MWW) provides global online employment solution. With a presence in approximately 55 countries globally, including key markets in North America, Europe, Asia and Latin America, Monster offers online recruiting solutions. Through online media sites and services, Monster Worldwide delivers targeted audi- ences to advertisers. The Company operates in three segments: Careers - North America, Careers - International and Internet Advertising & Fees. During the year ended December 31, 2010, these operating segments represented approxi- mately 46%, 40% and 14% of its consolidated revenue, respectively. On August 24, 2010, Monster completed the ac- quisition of Yahoo! HotJobs from Yahoo!. On December 31, 2010, the Company completed the acquisition of JobBusan, a business that provides online recruiting in Busan, South Korea. GLOBAL 50 HUMAN RESOURCES SERVICE PROVIDERS 2013 66
  • 67. Company name in Chinese: 克罗诺思 Company name in English: KRONOS Headquarters: Massachusetts, United States of America Country: United States of America Established: 1977 Website: www.kronos.com Main Business: e-HR Annual revenue of 2012 870 million dollars Stock Exchange: / Stock Code: / About: Operating profit Net profit Pre-tax profit Shareholders' equity / / / / Major financial data in Fiscal 2012(Unit: $ million) Major financial ratios in Fiscal 2012 Total assets by the end of 2012 Average total assets Current assets Current liabilities / / / / Receivable by the end of 2012 Average receivable Total liabilities Interest expense / / / / Indicator Ratio Compared with in- dustry average Net profit margin / / ROE / / Debt-asset ratio / / Current ratio / / Times Interest Earned / / Indicator Ratio Compared with in- dustry average Revenue growth rate 8.80% Lower Total turnover ratio / / Accounts receivable turnover ratio / / ROA / / Operating margin / / KRONOSNO.30 KRONOS makes and implements workforce management software particularly for organizations with large, complex workforces. With a goal of controlling la- bor costs and improving employee productivity, its various software products automatically collect time and attendance data, manage scheduling and absence, oversee administrative HR, payroll, and hiring processes, and provide data analytics on cost and performance problems. KRONOSsells directly and through partnerships. Serving more than half of the Fortune 1,000, it focuses on the education, health care, hospitality, manufacturing, retail, and government markets, among others. GLOBAL 50 HUMAN RESOURCES SERVICE PROVIDERS 2013 67
  • 68. Company name in Chinese: 明达科 Company name in English: MEITEC Headquarters: / Country: Japan Established: Toy Website: http://www.meitec.co.jp Main Business: Recruiting/Headhunting Annual revenue of 2012 837 million dollars Stock Exchange: Tokyo Stock Code: 9744 About: Operating profit Net profit Pre-tax profit Shareholders' equity 68 35 69 465 Major financial data in Fiscal 2012(Unit: $ million) Major financial ratios in Fiscal 2012 Total assets by the end of 2012 Average total assets Current assets Current liabilities 719 734 508 140 Receivable by the end of 2012 Average receivable Total liabilities Interest expense 133 136 254 1.1 Indicator Ratio Compared with in- dustry average Net profit margin 4.2% Higher ROE 7.6% Higher Debt-asset ratio 35.4% Higher Current ratio 3.6 Higher Times Interest Earned 63.8 Higher Indicator Ratio Compared with in- dustry average Revenue growth rate -3.8% Lower Total turnover ratio 1.1 Lower Accounts receivable turnover ratio 6.1 Lower ROA 4.8% Higher Operating margin 8.1% Higher MEITECNO.31 A company engaged in the provision of staffing services, engineer- ing solution services, global services and career support services. The Staffing segment is engaged in the provision of technician staffing service with a focus on engineer staffing. The Engineering Solution segment is engaged in the provision of engineering solution services with a focus on printed circuit board design service. The Global segment is engaged in the human resource cultivation, stuff agency and human resource consulting businesses in China. The Referral segment is engaged in the provision of re-employment support ser- vices, job agency services for engineers and Internet-based information services, as well as publications. GLOBAL 50 HUMAN RESOURCES SERVICE PROVIDERS 2013 68
  • 69. Company name in Chinese: 光辉国际 Company name in English: KORN/FERRY INTERNATIONAL Headquarters: Los Angeles, United States of America Country: United States of America Established: 1969 Website: http://www.kornferry.com Main Business: Recruiting/Headhunting Annual revenue of 2012 827 million dollars Stock Exchange: NASDAQ Stock Exchange Stock Code: KFY About: Operating profit Net profit Pre-tax profit Shareholders' equity 83 54 81 629 Major financial data in Fiscal 2012(Unit: $ million) Major financial ratios in Fiscal 2012 Total assets by the end of 2012 Average total assets Current assets Current liabilities 1,015 993 500 215 Receivable by the end of 2012 Average receivable Total liabilities Interest expense 11 70 385 3.3 Indicator Ratio Compared with in- dustry average Net profit margin 6.6% Higher ROE 8.6% Higher Debt-asset ratio 38.0% Higher Current ratio 2.3 Higher Times Interest Earned 25.1 Higher Indicator Ratio Compared with in- dustry average Revenue growth rate 6.5% Higher Total turnover ratio 0.8 Lower Accounts receivable turnover ratio 11.8 Higher ROA 5.5% Higher Operating margin 10.0% Higher KORN/FERRY INTERNATIONALNO.32 KORN/FERRY INTERNATIONAL (NYSE:KFY), founded in America in 1969 and headquartered in Los Angeles, America, has over 90 offices in 40 countries. Korn/Ferry International entered China in 1978, and it is the first foreign human resources consulting company to carry out business in China after China joined in WTO. It has set up four subsidiaries in China, namely, Hong Kong, Beijing, Shanghai, Guangzhou, Taipei, and it has a consulting team that is composed of 300 Chinese local staff, overseas returnees and foreign staff. Besides, as one of the world largest talents management consulting companies, Korn/Ferry International’s five branches are approved to be wholly foreign owned company. Up to now, the service system of Korn/Kerry International has covered whole-package solutions including senior executives seeking, talents management and leadership consulting, and recruitment outsourcing, middle-level talents recruitment. GLOBAL 50 HUMAN RESOURCES SERVICE PROVIDERS 2013 69
  • 70. Company name in Chinese: 翰德 Company name in English: Hudson Headquarters: New York, United States of America Country: United States of America Established: 1967 Website: http://www.hudson.com Main Business: Recruiting/Headhunting Annual revenue of 2012 778million dollars Stock Exchange: NASDAQ Stock Market Stock Code: HHGP About: Operating profit Net profit Pre-tax profit Shareholders' equity -7 -5 7 107 Major financial data in Fiscal 2012(Unit: $ million) Major financial ratios in Fiscal 2012 Total assets by the end of 2012 Average total assets Current assets Current liabilities 193 205 157 67 Receivable by the end of 2012 Average receivable Total liabilities Interest expense 107 119 87 0.6 Indicator Ratio Compared with in- dustry average Net profit margin -0.7% Lower ROE -5.0% Lower Debt-asset ratio 44.9% Lower Current ratio 2.3 Higher Times Interest Earned 12.1 Higher Indicator Ratio Compared with in- dustry average Revenue growth rate -16.7% Lower Total turnover ratio 3.8 Higher Accounts receivable turnover ratio 6.5 Lower ROA -2.6% Lower Operating margin -0.9% Lower HudsonNO.33 Hudson Highland Group, Inc. (NASDAQ:HHGP) is specialized professional staffing and talent management solutions providers. The Company provides professional staff- ing services on a permanent and contract consulting basis and a range of talent man- agement services to businesses operating in many industries. The Company helps its clients in recruiting and developing employees for professional-level functional and managerial positions. The Company operates in four reportable segments: Hudson Europe, Hudson Australia and New Zealand (ANZ), Hudson Americas and Hudson Asia. During the year ended December 31, 2010, these segments constituted approximately 46%, 30%, 13% and 11% of the Company’s gross margin, respectively. GLOBAL 50 HUMAN RESOURCES SERVICE PROVIDERS 2013 70
  • 71. Company name in Chinese: / Company name in English: CORPORATE RESOURCE SERVICES Headquarters: The USA Country: The USA Established: / Website: http://www.crsco.com/ Main Business: Talent Dispatch/Lease/ Placement Annual revenue of 2012 640 million dollars Stock Exchange: OTC Stock Code: CRRS About: Operating profit Net profit Pre-tax profit Shareholders' equity 2 -3 / 15 Major financial data in Fiscal 2012(Unit: $ million) Major financial ratios in Fiscal 2012 Total assets by the end of 2012 Average total assets Current assets Current liabilities 48 47 30 31 Receivable by the end of 2012 Average receivable Total liabilities Interest expense 5 7 33 4.1 Indicator Ratio Compared with in- dustry average Net profit margin -0.5% Lower ROE -22.9% Lower Debt-asset ratio 69.2% Higher Current ratio 1.0 Lower Times Interest Earned / / Indicator Ratio Compared with in- dustry average Revenue growth rate 18.7% Higher Total turnover ratio 13.7 Higher Accounts receivable turnover ratio 93.5 Higher ROA -7.2% Lower Operating margin -0.3% Lower CORPORATE RESOURCE SERVICESNO.34 CORPORATE RESOURCE SERVICES, formerly Accountabilities, Inc., is a provid- er of diversified staffing, recruiting and consulting services, including temporary staffing services, with a focus on light industrial services, clerical and administra- tive support and insurance related staffing. On November 21, 2011, the Company acquired TS Staffing Services, Inc. GLOBAL 50 HUMAN RESOURCES SERVICE PROVIDERS 2013 71
  • 72. Company name in Chinese: 荟才 Company name in English: RESOURCES GLOBAL PROFESSION- ALS Headquarters: United States of America Country: United States of America Established: 1996 Website: http://www.resourcesglobal.com Main Business: HR Consulting Annual revenue of 2012 572 million dollars Stock Exchange: NASDAQ Stock Market Stock Code: RECN About: Operating profit Net profit Pre-tax profit Shareholders' equity 73 41 73 366 Major financial data in Fiscal 2012(Unit: $ million) Major financial ratios in Fiscal 2012 Total assets by the end of 2012 Average total assets Current assets Current liabilities 431 454 228 62 Receivable by the end of 2012 Average receivable Total liabilities Interest expense 84 88 65 0.3 Indicator Ratio Compared with in- dustry average Net profit margin 7.2% Lower ROE 11.2% Higher Debt-asset ratio 15.0% Lower Current ratio 3.7 Higher Times Interest Earned / / Indicator Ratio Compared with in- dustry average Revenue growth rate 4.8% Lower Total turnover ratio 1.3 Higher Accounts receivable turnover ratio 6.5 Higher ROA 9.1% Higher Operating margin 12.8% Higher RESOURCES GLOBAL PROFESSIONALSNO.35 RESOURCES GLOBAL PROFESSIONALS , Inc. (NASDAQ:Resources) is a multinational pro- fessional services firm. Its operating entities provide services under the name Resources Global Professionals (Resources Global). The Company provides finance and accounting ser- vices, information management services, corporate advisory, strategic communications and restructuring services, risk management and internal audit services, supply chain manage- ment services, acturial services, human capital services, and legal and regulatory services. On May 12, 2009, the Com- pany acquired certain intangible assets comprising the Ohio-based professional services business of Kenwood Cooper LLC operated under the name Xperianz (Xperianz). In November 2009, the Company acquired certain assets of Sitrick And Company, a communications firm and Brincko Associates, Inc., a corporate advisory and restructuring firm with op- erations primarily in the United States. GLOBAL 50 HUMAN RESOURCES SERVICE PROVIDERS 2013 72
  • 73. Company name in Chinese: / Company name in English: HARVEY NASH Headquarters: London, The United Kingdom Country: The United Kingdom Established: 1988 Website: http://www.harveynash.com Main Business: Recruiting/Headhunting Annual revenue of 2012 533 million dollars Stock Exchange: London Stock Exchange Stock Code: HVN About: Operating profit Net profit Pre-tax profit Shareholders' equity 9 / 8 64 Major financial data in Fiscal 2012(Unit: $ million) Major financial ratios in Fiscal 2012 Total assets by the end of 2012 Average total assets Current assets Current liabilities 169 204 116 105 Receivable by the end of 2012 Average receivable Total liabilities Interest expense 97 114 106 0.5 Indicator Ratio Compared with in- dustry average Net profit margin / / ROE / / Debt-asset ratio 62.5% Lower Current ratio 1.1 Lower Times Interest Earned 18.9 Higher Indicator Ratio Compared with in- dustry average Revenue growth rate -18.7% Lower Total turnover ratio 2.6 Higher Accounts receivable turnover ratio 4.7 Lower ROA / / Operating margin 1.7% Higher HARVEY NASHNO.36 Harvey Nash Group plc (LON: HVN) is a United Kingdom-based professional recruitment and outsourcing consultancy company. It is engaged in provid- ing information technology professionals for permanent and contract positions globally. The Company operates in three segments: permanent recruitment, contracting and outsourcing. GLOBAL 50 HUMAN RESOURCES SERVICE PROVIDERS 2013 73
  • 74. Company name in Chinese: 海德思哲 Company name in English: HEIDRICK&STRUGGLES Headquarters: Chicago, United States of America Country: United States of America Established: 1953 Website: http://www.heidrick.com Main Business: Recruiting/ Headhunting Annual revenue of 2012 466 million dollars Stock Exchange: NASDAQ Stock Exchange Stock Code: HSII About: Operating profit Net profit Pre-tax profit Shareholders' equity 20 6 20 248 Major financial data in Fiscal 2012(Unit: $ million) Major financial ratios in Fiscal 2012 Total assets by the end of 2012 Average total assets Current assets Current liabilities 495 505 226 152 Receivable by the end of 2012 Average receivable Total liabilities Interest expense 6 52 247 / Indicator Ratio Compared with in- dustry average Net profit margin 1.3% Lower ROE 2.5% Higher Debt-asset ratio 49.8% Lower Current ratio 1.5 Higher Times Interest Earned / / Indicator Ratio Compared with in- dustry average Revenue growth rate -15.9% Lower Total turnover ratio 0.9 Lower Accounts receivable turnover ratio 8.9 Higher ROA 1.2% Higher Operating margin 4.2% Higher HEIDRICK&STRUGGLESNO.37 HEIDRICK&STRUGGLES, Inc. (NASDAQ:HSII) is a pro- vider of executive search and leadership consulting services. The Company helps its clients build leadership teams by facilitating the recruitment, management and deployment of senior executives. In addition to executive search, Heidrick & Struggles provides a range of leadership consulting services to clients. These services include succession planning, executive assessment, talent retention management, executive develop- ment, transition consulting for newly appointed executives, and management and administration (M&A) human capital integration consulting. In February 2009, the Company acquired Ray & Berndtson Sp. z o. o, a retained executive search firm in Warsaw, Poland. GLOBAL 50 HUMAN RESOURCES SERVICE PROVIDERS 2013 74
  • 75. Company name in Chinese: / Company name in English: FULLCAST HLDGS Headquarters: Tokyo Country: Japan Established: 1990 Website: http://www.fullcast.co.jp/ Main Business: Outsourcing Annual revenue of 2012 461.2 million dollars Stock Exchange: TYO Stock Code: 4848 About: Operating profit Net profit Pre-tax profit Shareholders' equity 18 18 22 68 Major financial data in Fiscal 2012(Unit: $ million) Major financial ratios in Fiscal 2012 Total assets by the end of 2012 Average total assets Current assets Current liabilities 103 108 87 32 Receivable by the end of 2012 Average receivable Total liabilities Interest expense 6 27 35 0.3 Indicator Ratio Compared with in- dustry average Net profit margin 3.9% Lower ROE 26.4% Higher Debt-asset ratio 34.4% Lower Current ratio 2.7 Higher Times Interest Earned 90.2 等于 Indicator Ratio Compared with in- dustry average Revenue growth rate 3.4% Lower Total turnover ratio 4.3 Higher Accounts receivable turnover ratio 16.9 Lower ROA 16.5% Higher Operating margin 3.9% Lower FULLCAST HLDGSNO.38 FULLCAST HLDGS is a Japan-based holding company principally engaged in the human resource outsourcing business. The Company operates in two busi- ness segments. The Short-term Business Support segment is engaged in the provision of short-term and events-related human resource services. The Se- curity segment is engaged in the security guard business for public facilities and general corporations. On May 31, 2011, the Company sold its subsidiary Fullcast Technology. On April 27, 2012, the Company fully acquired a Tokyo-based company engaged in the operation of adoption support service. GLOBAL 50 HUMAN RESOURCES SERVICE PROVIDERS 2013 75
  • 76. Company name in Chinese: / Company name in English: seek Headquarters: Melbourne, Australia Country: Australia Established: / Website: http://www.seek.com.au/ Main Business: Online Recruitment Annual revenue of 2012 461.1million dollars Stock Exchange: Australian Securities Exchange Stock Code: SEK About: Operating profit Net profit Pre-tax profit Shareholders' equity 137 / 191 799 Major financial data in Fiscal 2012(Unit: $ million) Major financial ratios in Fiscal 2012 Total assets by the end of 2012 Average total assets Current assets Current liabilities 1,441 1,206 168 231 Receivable by the end of 2012 Average receivable Total liabilities Interest expense 68 56 643 24.5 Indicator Ratio Compared with in- dustry average Net profit margin / / ROE / / Debt-asset ratio 44.6% Higher Current ratio 0.7 Lower Times Interest Earned 8.8 Higher Indicator Ratio Compared with in- dustry average Revenue growth rate 33.7% Higher Total turnover ratio 0.4 Lower Accounts receivable turnover ratio 8.2 Lower ROA / / Operating margin 29.7% Higher seekNO.39 seek(ASX:SEK) is an Australia-based company engaged in advertising employment clas- sifieds and related services on the Internet, and provision and distribution of vocational train- ing and higher education courses. The Company operates in two segments: online employ- ment classified advertising (Employment) and the provision and execution of training courses (Education). The Employment business is considered as one reporting segment, which provides online employment classified advertising services through the SEEK Website. It sells these services in Australia, New Zealand and United Kingdom. The Education division comprises two segments: Learning and Think. The Learning business markets, sells and distributes (predominately through online channels) vocational training and education training courses in Australia. Think is a provider of vocational training and higher education courses, including classroom based and distance learning courses and operates in Australia. GLOBAL 50 HUMAN RESOURCES SERVICE PROVIDERS 2013 76
  • 77. Company name in Chinese: / Company name in English: Barrett Business Services, Inc.(BBSI) Headquarters: Washington, United States of America Country: United States of America Established: / Website: http://www.barrettbusiness.com Main Business: HR Outsourcing Annual revenue of 2012 403 million dollars Stock Exchange: NASDAQ Stock Market Stock Code: BBSI About: Operating profit Net profit Pre-tax profit Shareholders' equity 19 13 19 54 Major financial data in Fiscal 2012(Unit: $ million) Major financial ratios in Fiscal 2012 Total assets by the end of 2012 Average total assets Current assets Current liabilities 229 226 139 111 Receivable by the end of 2012 Average receivable Total liabilities Interest expense 64 57 175 / Indicator Ratio Compared with in- dustry average Net profit margin 3.3% Lower ROE 24.4% Lower Debt-asset ratio 76.5% Lower Current ratio 1.3 Lower Times Interest Earned / / Indicator Ratio Compared with in- dustry average Revenue growth rate 27.9% Higher Total turnover ratio 1.8 Lower Accounts receivable turnover ratio 7.0 Lower ROA 5.8% Higher Operating margin 4.7% Lower Barrett Business Services(BBSI)NO.40 Barrett Business Services, Inc. (NASDAQ:BBSI) offers human resource management ser- vices to assist small and medium-sized businesses to manage the costs and complexities of employment-related issues. The Company’s principal services, Professional Employer Organization (PEO) and staffing, assist its clients in leveraging their investment in human capital. In a PEO arrangement, the Company enters into a contract to become a co-employer of the client’s existing workforce and assume responsi- bility for some or all of the client’s human resource management responsibilities. Staffing services include on-demand or short-term staffing assignments, long-term or indefinite-term contract staffing and on-site management. The Company’s staffing services also include direct placement services, which involve fee-based search efforts for specific employee candidates at the request of PEO clients, staffing customers or other companies. GLOBAL 50 HUMAN RESOURCES SERVICE PROVIDERS 2013 77
  • 78. Company name in Chinese: / Company name in English: bluestone Headquarters: Melbourne, Australia Country: Australia Established: 2009 Website: http://www.bglcorporate.com/ Main Business: Recruitment/headhunting Annual revenue of 2012 334million dollars Stock Exchange: Australian Securities Exchange Stock Code: HUM About: Operating profit Net profit Pre-tax profit Shareholders' equity -33 -33 -29 34 Major financial data in Fiscal 2012(Unit: $ million) Major financial ratios in Fiscal 2012 Total assets by the end of 2012 Average total assets Current assets Current liabilities 115 112 60 79 Receivable by the end of 2012 Average receivable Total liabilities Interest expense 43 37 81 / Indicator Ratio Compared with in- dustry average Net profit margin -9.8% Higher ROE -95.4% Higher Debt-asset ratio 70.2% Higher Current ratio 0.8 Lower Times Interest Earned / / Indicator Ratio Compared with in- dustry average Revenue growth rate 50.6% Higher Total turnover ratio 3.0 Higher Accounts receivable turnover ratio 9.1 Higher ROA -29.2% Lower Operating margin -9.8% Lower bluestoneNO.41 bluestone, formly Humanis Group, listed on the Australian Securities Exchange (ASX) in January 2008 as Total Staffing Solutions Limited (TSS) and later merged with Westhum Group Limited (owner of Westaff Australia and New Zealand) in December 2009. The merged Group has a national and international footprint (over 35 offices across Australia) with core capabilities encompassing temporary, permanent and international recruitment in Australia, New Zealand and the Philippines. The company is an international recruitment, professional placement and labour hire specialist offering Australian businesses a unique solution to the sourcing and placement of skilled labour. We share a common goal of building relationships based on trust, this shared goal helps us to deliver our belief that great people make great companies. GLOBAL 50 HUMAN RESOURCES SERVICE PROVIDERS 2013 78
  • 79. Company name in Chinese: / Company name in English: Ultimate SOFTWARE Headquarters: Florida, United States of America Country: United States of America Established: 1990 Website: http://www.ultimatesoftware.com Main Business: e-HR Annual revenue of 2012 332 million dollars Stock Exchange: NASDAQ Stock Market Stock Code: ULTI About: Operating profit Net profit Pre-tax profit Shareholders' equity 29 15 29 115 Major financial data in Fiscal 2012(Unit: $ million) Major financial ratios in Fiscal 2012 Total assets by the end of 2012 Average total assets Current assets Current liabilities 525 422 447 400 Receivable by the end of 2012 Average receivable Total liabilities Interest expense 71 63 411 / Indicator Ratio Compared with in- dustry average Net profit margin 4.4% Lower ROE 12.8% Higher Debt-asset ratio 78.2% Lower Current ratio 1.1 Higher Times Interest Earned / / Indicator Ratio Compared with in- dustry average Revenue growth rate 23.4% Lower Total turnover ratio 0.8 等于 Accounts receivable turnover ratio 5.2 Higher ROA 3.5% Higher Operating margin 8.8% Higher Ultimate SOFTWARENO.42 Ultimate SOFTWARE (NASDAQ:ULTI) designs, markets, implements and supports hu- man resources (HR), payroll and talent management solutions principally in the United States and Canada. Ultimate’s UltiPro software (UltiPro) is an Internet-based solution delivered primarily as an online service and designed to deliver the functionality businesses need to manage the employment life cycle, including recruitment and retirement. The solution includes feature sets for talent acquisition and on boarding, HR management and compliance, benefits management and online enrollment, payroll, performance management, learning management, salary planning and budgeting for compensation management, reporting and analytical decision-making tools, time and attendance, and a self-service Web portal for executives, managers, administrators, and employees. GLOBAL 50 HUMAN RESOURCES SERVICE PROVIDERS 2013 79
  • 80. Indicator Ratio Compared with in- dustry average Net profit margin -1.1% Lower ROE -3.9% Lower Debt-asset ratio 27.2% Lower Current ratio 2.1 Lower Times Interest Earned / / Indicator Ratio Compared with in- dustry average Revenue growth rate 6.0% Higher Total turnover ratio 2.5 等于 Accounts receivable turnover ratio 5.0 Lower ROA -2.8% Lower Operating margin -2.7% Lower Company name in Chinese: / Company name in English: Clarius Group Headquarters: Sydney, Australia Country: Australia Established: 1984 Website: http://www.clarius.com.au Main Business: Recruiting/Headhunting Annual revenue of 2012 283 million dollars Stock Exchange: Australian Securities Exchange Stock Code: CND About: Operating profit Net profit Pre-tax profit Shareholders' equity -8 -3 -8 82 Major financial data in Fiscal 2012(Unit: $ million) Major financial ratios in Fiscal 2012 Total assets by the end of 2012 Average total assets Current assets Current liabilities 112 114 64 30 Receivable by the end of 2012 Average receivable Total liabilities Interest expense 60 57 31 0.3 Clarius GroupNO.43 Clarius Group (ASX: CND) is an Australia-based company. The Company is a specialist in the employment services market providing recruitment, contractor and staff services across the Asia Pacific region. It has operations in Australia, New Zealand and Asia. Clarius Group em- ploys over 320 staff through a network of offices located in Sydney, Melbourne, Brisbane, Perth, Adelaide and Canberra in Australia; Auckland and Wellington in New Zealand; Hong Kong, Beijing and Shanghai, in China. As on June 30, 2010, the Company operates through a number of specialist brands, which includes Candle Infor- mation and Communications Technology, Alliance Recruitment Corporate Services and Financial Services, Lloyd Morgan Accounting and Finance, The One Umbrella Library and Records Management, SouthTech Personnel Technical and En- gineering and JAV IT Managed IT Services and Professional IT. GLOBAL 50 HUMAN RESOURCES SERVICE PROVIDERS 2013 80
  • 81. Indicator Ratio Compared with in- dustry average Net profit margin -43.6% Lower ROE -20.1% Lower Debt-asset ratio 38.2% Lower Current ratio 3.5 Lower Times Interest Earned / / Indicator Ratio Compared with in- dustry average Revenue growth rate 104.2% Higher Total turnover ratio 0.5 Lower Accounts receivable turnover ratio 4.5 Higher ROA -20.0% Lower Operating margin -43.1% Lower Company name in Chinese: / Company name in English: workday Headquarters: Pleasanton, United States of America Country: United States of America Established: 2005 Website: http://www.workday.com Main Business: e-HR Annual revenue of 2012 274 million dollars Stock Exchange: NYSE Stock Code: WDAY About: Operating profit Net profit Pre-tax profit Shareholders' equity -118 -119 -119 592 Major financial data in Fiscal 2012(Unit: $ million) Major financial ratios in Fiscal 2012 Total assets by the end of 2012 Average total assets Current assets Current liabilities 959 596 884 255 Receivable by the end of 2012 Average receivable Total liabilities Interest expense 67 61 367 / workdayNO.44 Workday, Inc. is a provider of enterprise cloud-based applications for human capital manage- ment (HCM), payroll, financial management, time tracking, procurement and employee expense management. It is focused on the consumer Internet experience and cloud delivery model. Its applications are designed for global enterprises to manage complex and dynamic operating envi- ronments. The Company provides its customers the applications to manage critical business functions for their financial and human capital resources. The Company’s architecture enables customers to share the same version of its applica- tions while securely partitioning their respective application data. Because customers utilize its information technology (IT) resources and operational infrastructure, this framework reduces the costs of implementation, upgrades, and support. Its applications use objects to represent real-world entities such as employees, benefits, budgets, charts of accounts, and organizations. GLOBAL 50 HUMAN RESOURCES SERVICE PROVIDERS 2013 81
  • 82. Company name in Chinese: / Company name in English: hydrogen Headquarters: London, The United Kingdom Country: The United Kingdom Established: / Website: http://www.hydrogengroup.com Main Business: Recruiting/Headhunting Annual revenue of 2012 265million dollars Stock Exchange: London Stock Exchange Stock Code: HYDG About: Operating profit Net profit Pre-tax profit Shareholders' equity 5 / 5 42 Major financial data in Fiscal 2012(Unit: $ million) Major financial ratios in Fiscal 2012 Total assets by the end of 2012 Average total assets Current assets Current liabilities 75 72 49 33 Receivable by the end of 2012 Average receivable Total liabilities Interest expense 45 43 33 / Indicator Ratio Compared with in- dustry average Net profit margin / / ROE / / Debt-asset ratio 17.7% Lower Current ratio 5.0 Lower Times Interest Earned / / Indicator Ratio Compared with in- dustry average Revenue growth rate 9.3% Higher Total turnover ratio 3.7 Higher Accounts receivable turnover ratio 6.2 Lower ROA / / Operating margin 2.0% Lower hydrogenNO.45 hydrogen(LON:HYDG) is a United Kingdom-based recruitment company. The Company is engaged in the provision of recruitment services for mid to senior level professional staff. It offers both permanent and contract specialist recruitment con- sultancy for large and medium-sized organizations. It operates primarily in the tech- nology, finance, professional and engineering sectors. The Company operates in four segments: Technology, which places mid to senior information technology (IT) business technologists and change professionals; Finance, which places finance, accounting and audit professionals into mid to senior roles from part qualified Association of Chartered Accoun- tants (ACAs) and Chartered Institute of Management Accountants (CIMAs) to director level appointments; Professional, which places lawyers from qualified to director level, and mid to senior level HR professionals, and Engineering, which places engineers, and property and construction professionals. GLOBAL 50 HUMAN RESOURCES SERVICE PROVIDERS 2013 82
  • 83. Company name in Chinese: 前程无忧 Company name in English: www.51job.com Headquarters: Shanghai, China Country: China Established: 1999 Website: http://www.51job.com Main Business: Online Recruitment Annual revenue of 2012 240 million dollars Stock Exchange: NASDAQ Stock Market Stock Code: JOBS About: Operating profit Net profit Pre-tax profit Shareholders' equity 77 75 90 422 Major financial data in Fiscal 2012(Unit: $ million) Major financial ratios in Fiscal 2012 Total assets by the end of 2012 Average total assets Current assets Current liabilities 513 460 457 91 Receivable by the end of 2012 Average receivable Total liabilities Interest expense 8 8 91 / Indicator Ratio Compared with in- dustry average Net profit margin 31.3% Higher ROE 17.8% Higher Debt-asset ratio 17.7% Lower Current ratio 5.0 Higher Times Interest Earned / / Indicator Ratio Compared with in- dustry average Revenue growth rate 9.9% Lower Total turnover ratio 0.5 Lower Accounts receivable turnover ratio 31.3 Higher ROA 16.3% Higher Operating margin 32.1% Higher www.51job.comNO.46 51job, Inc. (NASDAQ:JOBS) is a holding company. The Company is a provider of integrated hu- man resource services in China. As of December 31, 2010, the Company operated print pub- lications across 15 major cities in China. In addition to recruitment advertising services, it also provides other complementary human resource related services, consisting primarily of busi- ness process outsourcing, training and executive search services. It receives a majority of its revenues in the form of fees from employers for placing job advertisements on 51job Weekly and www.51job.com. It also receives fees from employers for accessing its www.51job.com resume database, using its eHire product and engaging its other human resource related services. 51job, Inc. provides a range of human resource services in categories, which includes recruit- ment advertising services and other human resource related services. GLOBAL 50 HUMAN RESOURCES SERVICE PROVIDERS 2013 83
  • 84. Company name in Chinese: / Company name in English: HRnet One Headquarters: Singapore Country: Singapore Established: 1992 Website: www.hrnetone.com Main Business: Head-Hunting, Talent Acquisition, Lease and Talent Management & Retention Annual revenue of 2012 214 million dollars Stock Exchange: / Stock Code: / About: Operating profit Net profit Pre-tax profit Shareholders' equity 27 / 26 88 Major financial data in Fiscal 2012(Unit: $ million) Major financial ratios in Fiscal 2012 Total assets by the end of 2012 Average total assets Current assets Current liabilities 118 111 116 31 Receivable by the end of 2012 Average receivable Total liabilities Interest expense / / 31 / Indicator Ratio Compared with in- dustry average Net profit margin / / ROE / / Debt-asset ratio 25.8% Lower Current ratio 3.8 Higher Times Interest Earned / / Indicator Ratio Compared with in- dustry average Revenue growth rate 5.7% Higher Total turnover ratio 1.9 Lower Accounts receivable turnover ratio / / ROA / / Operating margin 12.4% Higher HRnet OneNO.47 The HRnet One consists of companies separately consolidated under 2 Singapore incorporated and headquartered companies namely HRnet One Pte Ltd ( including 20 subsidiaries) and Recruit Express Pte Ltd (including 6 subsidiaries). The Group was first established as HRnet One Pte Ltd in 1992. HRnet One’s business encompasses Head-Hunting, Talent Acquisition, Lease and Talent Management & Retention. The Group has offices in 10 cities covering Beijing, Shanghai, Guangzhou, Taipei, Hong Kong, Seoul, Tokyo, Bangkok, Kuala Lum- pur and Singapore. It employs some 850 consultants. The Group promotes the core values of Loyalty, Gratitude, Integrity, Strive for Betterment, Adjustment and Assimilation and Harmony and Humilty. GLOBAL 50 HUMAN RESOURCES SERVICE PROVIDERS 2013 84
  • 85. Company name in Chinese: / Company name in English: Dice Holdings Headquarters: New York, United States of America Country: United States of America Established: 1990 Website: http://www.diceholdingsinc.com Main Business: Online Recruitment Annual revenue of 2012 195 million dollars Stock Exchange: New York Stock Exchange Stock Code: DHX About: Operating profit Net profit Pre-tax profit Shareholders' equity 59 38 57 191 Major financial data in Fiscal 2012(Unit: $ million) Major financial ratios in Fiscal 2012 Total assets by the end of 2012 Average total assets Current assets Current liabilities 354 340 76 95 Receivable by the end of 2012 Average receivable Total liabilities Interest expense 29 25 164 / Indicator Ratio Compared with in- dustry average Net profit margin 19.5% Higher ROE 20.0% Higher Debt-asset ratio 46.2% Higher Current ratio 0.8 Higher Times Interest Earned / / Indicator Ratio Compared with in- dustry average Revenue growth rate 9.1% Lower Total turnover ratio 0.6 Lower Accounts receivable turnover ratio 7.9 Lower ROA 11.2% Higher Operating margin 30.1% Higher Dice HoldingsNO.48 Dice Holdings (NYSE:DHX) is a provider of specialized career Websites for select pro- fessional communities. DHI focuses employment on categories, in which there is a scarcity of skilled, qualified professionals relative to market demand. The Company’s career Websites serve as online marketplaces where employers and recruiters find and recruit prospective employ- ees, and where professionals find relevant job opportunities and information to further their careers. Each of its career Websites offers job postings, content, career development and recruiting services tailored to the specific needs of the professional community that it serves. The Websites operated by DHI includes Dice.com, eFinancialCareers.com, Clear- anceJobs.com and AllHealthcareJobs.com. DHI operates four segments: Tech & Clearance, Finance, Energy, and Other. On May 6, 2010, it acquired WorldwideWorker.com. On August 11, 2010, it acquired Rigzone.com, Inc. In June 2010, it shut down JobsintheMoney.com, Inc. GLOBAL 50 HUMAN RESOURCES SERVICE PROVIDERS 2013 85
  • 86. Company name in Chinese: / Company name in English: Cornerstone ONDEMAND Headquarters: The USA Country: The USA Established: 1996 Website: http://www.cornerstoneondemand. com/ Main Business: e-HR Annual revenue of 2012 118 million dollars Stock Exchange: NASDAQ Stock Code: CSOD About: Operating profit Net profit Pre-tax profit Shareholders' equity -32 -31 -32 47 Major financial data in Fiscal 2012(Unit: $ million) Major financial ratios in Fiscal 2012 Total assets by the end of 2012 Average total assets Current assets Current liabilities 172 154 142 114 Receivable by the end of 2012 Average receivable Total liabilities Interest expense 48 41 125 / Indicator Ratio Compared with in- dustry average Net profit margin -26.6% Lower ROE -67.0% Lower Debt-asset ratio 72.7% Higher Current ratio 1.2 Lower Times Interest Earned / / Indicator Ratio Compared with in- dustry average Revenue growth rate 61.5% Higher Total turnover ratio 0.8 等于 Accounts receivable turnover ratio 2.9 Lower ROA -20.4% Lower Operating margin -27.0% Lower Cornerstone ONDEMANDNO.49 Cornerstone ONDEMAND (NASDAQ:CSOD) is a global provider of a learning and talent management solution delivered as software-as-a-service (SaaS).Cornerstone offers a learning and talent management solution that its clients uses to develop, connect, evaluate and engage their employees, customers, vendors and distributors. The Company delivers its SaaS solution on- demand to its clients who access it over the Internet. Cornerstone’s product offering consists of a collection of three integrated clouds for learning management, performance management and extended enterprise. It also offers a number of cross-cloud tools for analytics and reporting, employee profile management, employee on-boarding and e-learning content aggregation. It also provides consulting services for configuration, integration and training for its solution. On March 29, 2012, it launched Recruiting Cloud. In April 2012, it acquired Sonar Limited. GLOBAL 50 HUMAN RESOURCES SERVICE PROVIDERS 2013 86
  • 87. Company name in Chinese: / Company name in English: ClickSoftware Headquarters: Petach Tikva Country: Israel Established: / Website: http://www.clicksoftware.com/ Main Business: e-HR Annual revenue of 2012 100 million dollars Stock Exchange: NASDAQ Stock Exchange Stock Code: CKSW About: Operating profit Net profit Pre-tax profit Shareholders' equity 7 7 8 63 Major financial data in Fiscal 2012(Unit: $ million) Major financial ratios in Fiscal 2012 Total assets by the end of 2012 Average total assets Current assets Current liabilities 94 93 84 26 Receivable by the end of 2012 Average receivable Total liabilities Interest expense 22 24 32 / Indicator Ratio Compared with in- dustry average Net profit margin 7.5% Higher ROE 11.9% Lower Debt-asset ratio 33.4% Lower Current ratio 3.3 Higher Times Interest Earned / / Indicator Ratio Compared with in- dustry average Revenue growth rate 14.9% Lower Total turnover ratio 1.1 Higher Accounts receivable turnover ratio 4.2 等于 ROA 8.1% Higher Operating margin 7.3% Higher ClickSoftwareNO.50 ClickSoftware (NASDAQ: CKS) is a provider of software products and solutions for workforce management and optimization for the service sector. The Company derives revenues from the licensing of its software products and the provision of consulting and support services. ClickSoftware’s solutions are grouped into four main suites which together comprise its Service Optimization Suite: Field Service Daily Suite, Mobility Suite, Roster (Shift Planning) Suite and Forecasting and Planning Suite. Additionally, it offers variations of its products for certain vertical markets, including Mid-Market Package - Installation, Maintenance and Repair Services (ClickIMRS) and Service Tycoon. In April 2009, it completed the acquisi- tion of the workforce management business of Manchitra Services Private Ltd. In August 2009, it completed the acqui- sition of the assets of AST Solutions Group 2009, Inc. In November 2009, the Company completed the acquisition of the assets of A.I. Point Ltd. GLOBAL 50 HUMAN RESOURCES SERVICE PROVIDERS 2013 87
  • 88. Company name in Chinese: 104人力银行 Company name in English: 104 Job Bank Headquarters: Taiwan, China Country: China Established: 1996 Website: http://www.104.com.tw Main Business: Online Recruitment Annual revenue of 2012 72 million dollars Stock Exchange: Taiwan Stock Exchange Stock Code: 3130 About: Operating profit Net profit Pre-tax profit Shareholders' equity 7 6 7 37 Major financial data in Fiscal 2012(Unit: $ million) Major financial ratios in Fiscal 2012 Total assets by the end of 2012 Average total assets Current assets Current liabilities 57 59 49 20 Receivable by the end of 2012 Average receivable Total liabilities Interest expense 6 7 20 / Indicator Ratio Compared with in- dustry average Net profit margin 8.1% Lower ROE 15.5% Higher Debt-asset ratio 34.9% Lower Current ratio 2.5 Higher Times Interest Earned / / Indicator Ratio Compared with in- dustry average Revenue growth rate -10.1% Lower Total turnover ratio 1.2 Higher Accounts receivable turnover ratio 11.0 Lower ROA 9.8% Lower Operating margin 9.1% Lower 104 Job BankNO.51 104 Job Bank (TPE:3130) is a Taiwan-based company primarily en- gaged in operation of online recruitment Website. The Company operates www.104.com.tw, providing online recruitment advertisements, online business advertisements, senior executives hunting services, human resource management software, human resource transfer services, science and technology job bank services, job map services and value- added services, among others. During the year ended December 31, 2009, online advertisements con- tributed approximately 86.8% of the Company’s total revenue. It operates its businesses principally in Taiwan. GLOBAL 50 HUMAN RESOURCES SERVICE PROVIDERS 2013 88
  • 89. Company name in Chinese: / Company name in English: Fortune Industries Headquarters: Indiana, United States of America Country: United States of America Established: 1988 Website: http://www.ffi.net Main Business: Human Resource Outsourcing Annual revenue of 2012 61 million dollars Stock Exchange: American Stock Exchange Stock Code: FFI About: Operating profit Net profit Pre-tax profit Shareholders' equity 2 2 2 19 Major financial data in Fiscal 2012(Unit: $ million) Major financial ratios in Fiscal 2012 Total assets by the end of 2012 Average total assets Current assets Current liabilities 29 29 13 9 Receivable by the end of 2012 Average receivable Total liabilities Interest expense 3 3 9 / Indicator Ratio Compared with in- dustry average Net profit margin 3.7% Higher ROE 11.8% Lower Debt-asset ratio 32.5% Lower Current ratio 1.5 Higher Times Interest Earned / / Indicator Ratio Compared with in- dustry average Revenue growth rate -5.3% Lower Total turnover ratio 2.1 Lower Accounts receivable turnover ratio 21.3 Higher ROA 7.8% Lower Operating margin 3.8% Lower Fortune IndustriesNO.52 Fortune Industries(AMEX:FFI)is a holding company of providers of full service hu- man resources outsourcing services through co-employment relationships with the Company’s clients. The Business Solutions segment is consist of Professional Em- ployer Organizations (PEOs), which provide full-service human resources outsourcing services through co-employment relationships with their clients. Companies operating in the Business Solutions Segment include Professional Staff Man- agement, Inc. and related entities (PSM); CSM, Inc. and related subsidiaries (CSM); Precision Employee Management, LLC (PEM), and Employer Solutions Group, Inc. and related entities (ESG). The Companies in the Business Solutions segment bill their clients under Professional Services Agreements as licensed PEOs. The billing includes amounts for the client’s gross wages, payroll taxes, employee benefits, workers’ compensation insurance and an administration fee. GLOBAL 50 HUMAN RESOURCES SERVICE PROVIDERS 2013 89
  • 90. Company name in Chinese: 世泓 Company name in English: shl Headquarters: Washington Country: United States of America Established: 1977 Website: http://www.shl.com Main Business: Talent assessment Annual revenue of 2012 59 million dollars Stock Exchange: NYSE Stock Code: CEB About: Operating profit Net profit Pre-tax profit Shareholders' equity / / / / Major financial data in Fiscal 2012(Unit: $ million) Major financial ratios in Fiscal 2012 Total assets by the end of 2012 Average total assets Current assets Current liabilities / / / / Receivable by the end of 2012 Average receivable Total liabilities Interest expense / / / / Indicator Ratio Compared with in- dustry average Net profit margin / / ROE / / Debt-asset ratio / / Current ratio / / Times Interest Earned / / Indicator Ratio Compared with in- dustry average Revenue growth rate / / Total turnover ratio / / Accounts receivable turnover ratio / / ROA / / Operating margin / / shlNO.53 SHL is the leader in talent measurement solutions, driving better business results for clients through superior people intelligence and decisions - from hiring and recruiting, to employee development and succession planning. With a presence in over 50 coun- tries, SHL delivers more than 25 million assessments annually in over 30 languages - allowing over 10,000 business customers to benefit from both global expertise and local insight. Along with its world- class consulting practices and 24-hour support center, SHL clients can access over 1,000 assessments through an easy-to-use technology platform. SHL was acquired in 2012 by CEB, the leading member-based advisory company. By combining the best practices of thousands of member companies with advanced research methodologies and human capital analytics, CEB equips senior leaders and their teams with insight and actionable solutions to transform operations. GLOBAL 50 HUMAN RESOURCES SERVICE PROVIDERS 2013 90
  • 91. Company name in Chinese: / Company name in English: ATA Headquarters: Beijing, China Country: China Established: 1999 Website: http://www.ata.net.cn Main Business: Talent Assessment Annual revenue of 2012 56 million dollars Stock Exchange: NASDAQ Stock Market Stock Code: ATAI About: Operating profit Net profit Pre-tax profit Shareholders' equity 10 9 / 58 Major financial data in Fiscal 2012(Unit: $ million) Major financial ratios in Fiscal 2012 Total assets by the end of 2012 Average total assets Current assets Current liabilities 73 71 56 14 Receivable by the end of 2012 Average receivable Total liabilities Interest expense 13 13 15 / Indicator Ratio Compared with in- dustry average Net profit margin 15.9% / ROE 15.2% / Debt-asset ratio 20.5% / Current ratio 3.9 / Times Interest Earned / / Indicator Ratio Compared with in- dustry average Revenue growth rate 15.8% / Total turnover ratio 0.8 / Accounts receivable turnover ratio 4.3 / ROA 12.5% / Operating margin 18.3% / ATANO.54 ATA Inc. (NASDAQ:ATAI)is a provider of computer-based testing services. It offers services for the creation and delivery of computer-based tests utilizing the test delivery platform, testing technologies and providing testing services. The computer-based testing services are used for professional licensure and certification tests in various industries, including information technology (IT) services, banking, secu- rities, teaching and insurance. The computer-based testing services clients include professional associations, such as the Securities Association of China, China Banking Association and China Futures Association, and governmental agencies. As of March 31, 2010, the Company’s test network included 1,988 authorized test centers located throughout the People’s Republic of China. In February 2009, the Company completed the acquisition of Beijing Jindixin Software Technology Com- pany Limited (Beijing JDX) and JDX Holdings Limited (JDX BVI). GLOBAL 50 HUMAN RESOURCES SERVICE PROVIDERS 2013 91
  • 92. Company name in Chinese: / Company name in English: Hamilton James & Bruce (HJB) Headquarters: Sydney, Australia Country: Australia Established: 1979 Website: http://www.hjb.com.au Main Business: Recruiting/Headhunting Annual revenue of 2012 49.4 million dollars Stock Exchange: Australian Securities Exchange Stock Code: HJB About: Operating profit Net profit Pre-tax profit Shareholders' equity 1 1 1 10 Major financial data in Fiscal 2012(Unit: $ million) Major financial ratios in Fiscal 2012 Total assets by the end of 2012 Average total assets Current assets Current liabilities 14 15 5 2 Receivable by the end of 2012 Average receivable Total liabilities Interest expense 4 6 3 / Indicator Ratio Compared with in- dustry average Net profit margin 1.2% Lower ROE 5.9% Lower Debt-asset ratio 25.0% Lower Current ratio 2.3 Higher Times Interest Earned / / Indicator Ratio Compared with in- dustry average Revenue growth rate -11.3% Lower Total turnover ratio 3.2 Lower Accounts receivable turnover ratio 9.0 Lower ROA 3.9% Lower Operating margin 1.2% Lower Hamilton James & Bruce(HJB)NO.55 Hamilton James & Bruce Group Limited (ASX:HJB) is an Australia-based company. The Company is engaged in the provision of employee placement, temporary and contracting services. It permanent recruitment services include recruiting at the senior executive, man- agement, operational and support levels. Its temporary and contracting services recruiting specialists for both short and long term contract assignments, covering executive, manage- ment, operational and support levels. Its clients operate in various sectors, including accounting, banking, finance and insurance, business support, contracting, government, human resources, legal, technology, and property, construction and engineering. On December 18, 2009, the Company discontinued its New PDH Ltd, which is engaged in provincial personnel business. Its subsidiaries include Hamilton James and Bruce Pty Limited, HJ&B Employee Pty Limited, HJ&B Employee Share Trust and HJB Share Plan Pty Limited. GLOBAL 50 HUMAN RESOURCES SERVICE PROVIDERS 2013 92
  • 93. Company name in Chinese: / Company name in English: DLH Headquarters: Georgia, United States of America Country: United States of America Established: 1969 Website: http://www.dlhcorp.com Main Business: HR Outsourcing Annual revenue of 2012 49.2 million dollars Stock Exchange: / Stock Code: / About: Operating profit Net profit Pre-tax profit Shareholders' equity -2 -2 / / Major financial data in Fiscal 2012(Unit: $ million) Major financial ratios in Fiscal 2012 Total assets by the end of 2012 Average total assets Current assets Current liabilities / / / / Receivable by the end of 2012 Average receivable Total liabilities Interest expense / / / / Indicator Ratio Compared with in- dustry average Net profit margin -4.1% Lower ROE / / Debt-asset ratio / / Current ratio / / Times Interest Earned / / Indicator Ratio Compared with in- dustry average Revenue growth rate 17.3% Higher Total turnover ratio 4.5 Higher Accounts receivable turnover ratio 8.8 Lower ROA -18.2% Lower Operating margin -4.5% Lower DLHNO.56 DLH is a service provider of logistics, healthcare support and technical services to Federal Agencies and the Department of Defense. The Company focuses on three business lines: Logistics & Technical Services, Healthcare Delivery Solu- tions and Contingency/Staff Augmentation. The Company provides its services to the United States Department of Veterans Affairs (DVA), the United States Department of Defense and other United States governmental entities. DLH provides a suite of services and solutions offerings that plan for, implement and controls the storage and flow of goods, services and information for government agencies. Our tools and processes are key enablers for enhanced productivity & quality. GLOBAL 50 HUMAN RESOURCES SERVICE PROVIDERS 2013 93
  • 94. Company name in Chinese: / Company name in English: PRIME PEOPLE Headquarters: London, The United Kingdom Country: The United Kingdom Established: 1986 Website: http://www.prime-people.co.uk Main Business: Recruiting/Headhunting Annual revenue of 2012 20.1 million dollars Stock Exchange: LON Stock Code: PRP About: Operating profit Net profit Pre-tax profit Shareholders' equity 1 1 2 22 Major financial data in Fiscal 2012(Unit: $ million) Major financial ratios in Fiscal 2012 Total assets by the end of 2012 Average total assets Current assets Current liabilities 25 25 9 3 Receivable by the end of 2012 Average receivable Total liabilities Interest expense 5 5 3 / Indicator Ratio Compared with in- dustry average Net profit margin 5.4% Lower ROE 4.9% Higher Debt-asset ratio 11.6% Lower Current ratio 3.2 Higher Times Interest Earned / / Indicator Ratio Compared with in- dustry average Revenue growth rate 1.7% Lower Total turnover ratio 0.8 Lower Accounts receivable turnover ratio 4.4 Lower ROA 4.4% Higher Operating margin 7.4% Higher PRIME PEOPLENO.57 PRIME PEOPLE is a global specialist recruitment business headquartered in the UK. It has offices in London and Manchester, Hong Kong, Dubai, Johan- nesburg and Singapore. The group’s current recruitment operations address requirements for executive, professional and technical staff working in the Real Estate & Built Environment, Energy & Environmental, Insight & Analytics and Pharmaceutical sec- tors. The company has been trading since 1986 and in June 2004 moved to AiM having been on the main London market since May 1995. GLOBAL 50 HUMAN RESOURCES SERVICE PROVIDERS 2013 94
  • 95. Company name in Chinese: 网维 Company name in English: NetDimensions Headquarters: HongKong Country: China Established: 1999 Website: http://www.netdimensions.com/ Main Business: e-HR Annual revenue of 2012 14 million dollars Stock Exchange: LON Stock Code: NETD About: Operating profit Net profit Pre-tax profit Shareholders' equity -0.3 / -0.2 6 Major financial data in Fiscal 2012(Unit: $ million) Major financial ratios in Fiscal 2012 Total assets by the end of 2012 Average total assets Current assets Current liabilities 14 14 13 8 Receivable by the end of 2012 Average receivable Total liabilities Interest expense 6 3 8 / Indicator Ratio Compared with in- dustry average Net profit margin / / ROE / / Debt-asset ratio 56.6% Higher Current ratio 1.7 Higher Times Interest Earned / / Indicator Ratio Compared with in- dustry average Revenue growth rate 12.2% Lower Total turnover ratio 1.0 Higher Accounts receivable turnover ratio 4.4 等于 ROA / / Operating margin -2.0% 等于 NetDimensionsNO.58 Established in 1999, listed on the London Stock Exchange (AIM: NETD) and trad- ing on OTCQX (OTCQX: NETDY), NetDimensions is committed to leadership in performance, knowledge, and learning technology. Our global solutions help or- ganizations achieve productivity & efficiency improvements, cost reduction, risk management, and cultural & process innovation.Through our own offices worldwide, as well as through a global reseller network that extends to over 40 countries, NetDimensions serves over 1,000 clients with more than 9 million users. GLOBAL 50 HUMAN RESOURCES SERVICE PROVIDERS 2013 95
  • 96. Company name in Chinese: / Company name in English: HRsoft Headquarters: Ottawa, Canada Country: Canada Established: 1996 Website: http://www.hrsoft.com/ Main Business: e-HR Annual revenue of 2012 7 million dollars Stock Exchange: FINRA - OTC Stock Code: WSTM About: Operating profit Net profit Pre-tax profit Shareholders' equity -1 0.5 -1 9 Major financial data in Fiscal 2012(Unit: $ million) Major financial ratios in Fiscal 2012 Total assets by the end of 2012 Average total assets Current assets Current liabilities 13 12 3 1 Receivable by the end of 2012 Average receivable Total liabilities Interest expense 2 2 4 / Indicator Ratio Compared with in- dustry average Net profit margin 6.3% Lower ROE 5.0% Lower Debt-asset ratio 28.4% Higher Current ratio 2.1 Higher Times Interest Earned / / Indicator Ratio Compared with in- dustry average Revenue growth rate -5.9% Lower Total turnover ratio 0.6 Lower Accounts receivable turnover ratio 4.2 Lower ROA 3.6% Higher Operating margin -19.5% Lower HRsoftNO.59 HRsoft, formly Workstream, is a provider of software and services for human capital man- agement (HCM). HRsoft has two segments: Enterprise Workforce Services and Career Networks. The Enterprise Workforce Services segment offers a range of HCM software solutions, which includes performance management, compensation management, development, recruitment, benefits administration and enrollment, succession planning, and employee awards and discounts programs. The Career Net- works segment offers recruitment research, resume management and career transition services. In addition, Career Networks provides services through a Website where job-seeking senior executives can search job databases and post their resumes, and companies and recruiters can post position openings and search for qualified senior executive candi- dates. HRsoft conducts its business primarily in the United States and Canada. In January 2011, the Company acquired Incentives Advisors, LLC. GLOBAL 50 HUMAN RESOURCES SERVICE PROVIDERS 2013 96
  • 97. HRoot is a leading human resources media and Internet company in China, with such brands and services as HRoot.com, a world’s leading human resources management website; Human Capital Management magazine, a leading industry journal in China; Overclass, an elite club for HR professionals; Society for HR Executives (SHRE), the only society of HR executives in China; the Annual Human Resources Awards in Greater China, a top-notch industry event with utmost authority, scale and influence; the China Human Capital Forum, the largest among such events in China, and the China Human Resources Services Expo, the largest of its kind in the world, which may register over 20,000 visitors in 2014. In 2012, HRoot launched iPhone, iPad and Android apps of its Human Capital Management magazine and its “Guide to Human Resources Services Providers”, and the mobile app of “HRoot Forums and Expo.” HRoot releases the annual reports of the “Top 100 Human Resources Services Brands in Greater China” and the ”Global 50 Human Resources Services Providers”, and the monthly white paper of MarketWatch of Global HR Service Industry, each being celebrated as a guidepost of this industry. The website of HRoot has some two million HR professionals as its registered users, who pay more than 500 million visits in total each year; HRoot has more than 20,000 people attending its off-line events each year and 30,000 readers of its publications; it serves over 20,000 customers now, including more than 95% of the Fortune 500 companies in China. It has more than 250 HR services providers, business schools, associations as its ad clients and sponsors; including nine of the top ten global HR services providers. Human Capital Management Magazine is the largest circulation of Human Resource Management Journal in China and the number reached 30,000 readers. The magazine dedicated to deliver HR-related information, viewpoints, methods, techniques and so on. Our target readers are HR managers, HR directors, CEO, General Manager, departmental managers, Human Resources experts and other decision-makers and from a wide range of multinational companies. Human Capital Management Magazine is edited and published by HRoot, the leading HR and an Internet media company in China. About the publisher GLOBAL 50 HUMAN RESOURCES SERVICE PROVIDERS 2013 97
  • 98. For more information on Global 50 HR Service Providers Rankings and Whitepaper 2013, please visit: http://www.hroot.com/rankings/global50/2013/ 86-21-58215127、58215197 http://www.hroot.com 86-21-5821 8663 marketing@hroot.com Suite 511, North Building, 77 Eshan Road, Shanghai, China http://t.sina.com.cn/hrootchina http://linkedin.com/company/hroot hrootchina Contact us: The information contained in this document represents the views of HRoot Corporation on the matters discussed as of the date of release. HRoot must respond to changing market conditions, hence such information cannot be interpreted as promises of HRoot. HRoot cannot guarantee the accuracy of any information after the release date. This document is for reference only. HRoot does not make any explicit or implicit warranty contained in this document. Users are held responsible for complying with all applicable copyright laws. Under the conditions of unrestricted rights of copyright license, no matter for what purpose, or in any form or by any means (including electronic, mechanical, photocopying, recording, or other forms, no part or all of this document, can be copied or disseminated, or stored in or introduced into any retrieval system without express written permissions of HRoot Corporation. Disclaimer