2022 Market Capitalisation Research of Global Public Human Resources Service Companies, jointly produced by emlyon business school and HRflag, China's leading HR think tank, summarizes the changes in market capitalisation of 113 global public human resources service companies in 15 countries and regions and related analysis. Nearly 80% of the Global Public Human Resources Service Companies have increased in market capitalisation, which fluctuated significantly and greatly. Global market capitalisation of 30% of listed HR services companies to hit record high in 2021.

2. 2

3. Contents
Research Overview
2022 Ranking of Global Public Human Resources Service Companies
by Market Capitalisation
Ranking of Global Public Human Resources Service Companies
by Market Capitalisation Growth in 2021
Ranking of Global Public Human Resources Service Companies
by The Percentage Increase of Market Capitalisation in 2021
2022 Ranking of Global Public Human Resources Service Companies
by Market Capitalisation——by Segment
Staffing Companies on the Ranking
Online Recruitment Companies on the Ranking
Talent & Executive Search Companies on the Ranking
Management Training Companies on the Ranking
Recruitment Process Outsourcing Companies on the Ranking
HR Management Software Companies on the Ranking
HR Management Consulting Companies on the Ranking
Payroll Outsourcing Companies on the Ranking
Gig Platform Companies on the Ranking
Benefits Outsourcing Companies on the Ranking
Background Screeners on the Ranking
Talent Selection Companies on the Ranking
Global Public Human Resources Service Companies Introduction
Copyright Notice
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5. The impact of the epidemic is huge and far-reaching.After a new peak of development in 2019 and suffering a hard
time in 2020, the global HR service industry is breaking through for change and reacting with agility to adapt to the
new situation, the new needs and markets, and the reshaping of the global market landscape in 2021: : economic
revolutions, changes in the way human beings live, shifts in corporate business logic and operating models,
disruptions in the world of work, permanent changes in the workforce, reversal of rights between companies and
employees and changes in the way they relate and cooperate.
The year 2021 was also a remarkable year, with the world's major developed economies all launched "Nuclear-
powered Money Printing ", resulting in the largest quantitative easing in human economy history and created the
largest bull market in the U.S. capital history, and record highs for the Dow Jones Industrial Average, for example .
The impact on the human resources service industry has been immediate and significant: more than 30 HR service
companies around the world have reached their highest market capitalisation since going public in 2021.
Overview of Global Public Human Resources Service Companies
After years of development, the global human resources service market has grown in size and maturity.. In order
to gain better resources, capital, markets and development, the performance of global HR service organisations in
the capital market is highly regarded. According to the incomplete statistic, there are more than 120 global public
human resources service companies in over 15 countries around the world, among which the U.S. has the highest
percentage (39%), followed by Japan and the U.K, which account for 27% and 11% of listed HR service companies
globally respectively,, while China ranks fourth with 8% of listed HR service companies globally.The largest number of
listed HR service companies have flexible employment as their main business, accounting for 31% of the global total,
while those with online recruitment, talent & executive search and management training as their main business all
account for 10%, 16%, 13% and 10% respectively.
Overview
USA JPN UK CHN IL NL AUS FRA FIN RUS CA ZA SE CHE SG
39% 28% 11% 8% 3% 3% 2% 2% 1% 1% 1% 1% 1% 1% 1%
Staffing
Online
Recruitment
Talent &
Executive
Search
Management
Training
Recruitment
Process
Outsourcing
HR
Management
Software
HR
Management
Consulting
Payroll
Outsourcing
Gig Platform
Benefits
Outsourcing
Background
Screen
Talent
Selection
31% 16% 13% 10% 8% 6% 6% 4% 3% 2% 1% 1%
Figure 1.
2021 Global Public Human Resources Service Companies - Distribution By Country
Figure 2.
2021 Global Public Human Resources Service Companies - Distribution By Segment
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6. 2022 Overall Analysis of Market Capitalisation of Global Public Human Resources
Service Companies
HRflag's “2022 Market capitalisation Research of Global Public Human Resources Service Companies” summarizes
the changes in market capitalisation of 113 global public human resources service companies in 15 countries and
regions and related analysis. According to market capitalisation data at the end of 2021, 13 global public human
resources service companies had a market capitalisation of more than 10 billion USD, of which, four had a market
capitalisation of more than 50 billion USD and one had a market capitalisation of over 100 billion USD.
Figure 3.
Market Capitalisation Of Global Public Human Resources Service Companies At the End of 2021 (unit: hundred
million dollars)
The Top 5 Global Public Human Resources service
companies by market capitalisation at the end of
2021 are all with market capitalisation over 50 billion
USD. ADP ranks first with a market capitalisation of
103.905 billion USD, followed by RECRUIT and Marsh
& McLennan with market capitalisation of 98.52 billion
USA UK JPN CHN NL
8 2 1 1 1
Figure 4.
Market Capitalisation Of Global Public Human Resources Service Companies Over 10 Billion USD At the End of
2021 - Distribution By Country
Among the global public human resources service companies with a market capitalisation of over 10 billion USD by
the end of 2021, the U.S. has the most companies (8), followed by the U.K. (2), while the Netherlands, Japan, and
China each have one listed HR service company with a market capitalisation of over US$10 billion. Meanwhile, the
market capitalisation of public human resources service companies in Australia, France, Russia, Israel, Switzerland,
Canada, South Africa, Sweden, Singapore, Finland and other countries where listed HR service companies are not
reach 10 billion USD by the end of 2021.
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7. Figure 5.
2022 Ranking of Global Public Human Resources Service Companies by Market Capitalisation - TOP10
RANK
COMPANY
NAME
LOGO
MARKET
CAPITALISATION AT
THE END OF 2021
(UNIT:MILLION DOLLARS)
MARKET
CAPITALISATION
GROWTH IN 2021
(UNIT:MILLION DOLLARS)
MARKET
CAPITALISATION
GROWTH
IN 2021
(%)
MARKET
CAPITALISATION
AT THE BEGINNING
OF 2021
(UNIT:MILLION DOLLARS)
SYMBOL
STOCK
EXCHANGE
MAIN BUSINESS
IN HR INDUSTRY
YEAR
FOUNDED COUNTRY
1 ADP 103,905.00 27,481.85 36% 76,423.15 ADP NASDAQ
• Payroll
Outsourcing
• HR Management
Software
1949
USA
2 RECRUIT 98,520.00 28,659.66 41% 69,860.34 6098 TSE
• Talent & Executive
Search
• Recruitment
Process
Outsourcing
• Online
Recruitment
1960
JPN
3
Marsh &
McLennan
87,761.00 27,743.02 46% 60,017.98 MMC NYSE
• HR Management
Consulting
1871
USA
4 workday 69,125.00 10,957.99 19% 58,167.01 WDAY NASDAQ
• HR Management
Software
2005
USA
5 AON 66,223.00 17,371.16 36% 48,851.84 AON NYSE
• HR Management
Consulting
• Management
Training
1982
UK
6 PAYCHEX 49,243.00 15,259.09 45% 33,983.91 PAYX NASDAQ
• Payroll
Outsourcing
• HR Management
Software
1971
USA
7
Willis
Towers
Watson
29,593.00 2,122.76 8% 27,470.24 WLTW NASDAQ
• HR Management
Consulting
• Management
Training
1828
UK
USD and 87.761 billion USD respectively at the end of 2021. Workday and Aon rank fourth and fifth with market capitalisation of
69.125 billion USD and 662.23 billion USD. BOSS Zhipin is the only Chinese public human resources service company among the
top 10 companies with a market capitalisation of 14.265 billion USD by the end of 2021, and it is also the only company providing
online recruitment service among the top 10 companies. In addition, the sum of the market capitalisation of the top 5 global public
human resources service companies exceeded 400 billion USD, which is more than the sum of the market capitalisation of the 6th-
113th ranked companies by the end of 2021.
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8. Nearly 80% of the Global Public Human Resources Service Companies Have Increased in
Market Capitalisation, Which Fluctuated Significantly and Greatly
According to HRflag “2022 Market Capitalisation Research of Global Public Human Resources Service Companies”, 113 global
public human resources service companies have a range of market capitalisation float in 2021 between 265% and -85%. 75%
companies have a positive market capitalisation growth, while other 25% have a negative growth. Specifically, most companies
(23) have a growth between 30% and 49%, 21 companies have a growth between 50% and 100%, 7 companies have a growth of
more than 100%, while another 4 companies have a growth of more than 50%. It is worth notice that among the top 10 companies
on the 2022 Ranking of Global Public Human Resources Service Companies by Market Capitalisation, 7 companies have an everage
increase of 33% of market capitalisation in 2021, while 3 companies decline more than 5%, with an average decline of market
capitalisation of more than 1 billion USD.
Figure 6.
General Situation of Market Capitalisation Growth (%) in 2021 of Global Public Human Resources Service Companies
According to the net growth of
market capitalisation in 2021 of
global public human resources
service companies, 52% of the
companies have a net growth
within 500 million USD, 9% have
a net growth of 0.6-1 billion USD,
1-10 billion USD, and 5% have a net
growth higher than 10 billion USD.
RANK
COMPANY
NAME
LOGO
MARKET
CAPITALISATION AT
THE END OF 2021
(UNIT:MILLION DOLLARS)
MARKET
CAPITALISATION
GROWTH IN 2021
(UNIT:MILLION DOLLARS)
MARKET
CAPITALISATION
GROWTH
IN 2021
(%)
MARKET
CAPITALISATION
AT THE BEGINNING
OF 2021
(UNIT:MILLION DOLLARS)
SYMBOL
STOCK
EXCHANGE
MAIN BUSINESS
IN HR INDUSTRY
YEAR
FOUNDED COUNTRY
8 Paycom 24,922.00 -1,435.73 -5% 26,357.73 PAYC NYSE
• HR Management
Software
1998
USA
9 Ceridian 15,800.00 -1,034.08 -6% 16,834.08 CDAY NYSE
• HR Management
Software
2013
USA
10
BOSS
Zhipin
14,265.00 -613.00 -4% 14,878.00 BZ NASDAQ
• Online
Recruitment
2014
CHN
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9. RANK
COMPANY
NAME
LOGO
MARKET
CAPITALISATION
GROWTH IN 2021
(UNIT:MILLION DOLLARS)
MARKET
CAPITALISATION AT
THE END OF 2021
(UNIT:MILLION DOLLARS)
MARKET
CAPITALISATION
GROWTH IN
2021
(%)
MARKET
CAPITALISATION
AT THE BEGINNING
OF 2021
(UNIT:MILLION DOLLARS)
SYMBOL
STOCK
EXCHANGE
MAIN BUSINESS
IN HR INDUSTRY
YEAR
FOUNDED COUNTRY
1
RECRUIT
28,659.66 98,520.00 41% 69,860.34 6098 TSE
• Talent & Executive
Search
• Recruitment
Process
Outsourcing
• Online
Recruitment
1960
JPN
2 Marsh &
McLennan
27,743.02 87,761.00 46% 60,017.98 MMC NYSE
• HR Management
Consulting
1871
USA
3
ADP
27,481.85 103,905.00 36% 76,423.15 ADP NASDAQ
• Payroll
Outsourcing
• HR Management
Software
1949
USA
4
AON
17,371.16 66,223.00 36% 48,851.84 AON NYSE
• HR Management
Consulting
• Management
Training
1982
UK
5 PAYCHEX 15,259.09 49,243.00 45% 33,983.91 PAYX NASDAQ
• Payroll
Outsourcing
• HR Management
Software
1971
USA
6 workday 10,957.99 69,125.00 19% 58,167.01 WDAY NASDAQ
• HR Management
Software
2005
USA
Figure 8.
Ranking of Global Public Human Resources Service Companies by Market Capitalisation Growth in 2021-TOP10
Figure 7.
General Situation of Market Capitalisation Growth in 2021 of Global Public Human Resources Service Companies
(unit: hundred million dollars)
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10. RANK
COMPANY
NAME
LOGO
MARKET
CAPITALISATION
GROWTH IN 2021
(UNIT:MILLION DOLLARS)
MARKET
CAPITALISATION AT
THE END OF 2021
(UNIT:MILLION DOLLARS)
MARKET
CAPITALISATION
GROWTH IN
2021
(%)
MARKET
CAPITALISATION
AT THE BEGINNING
OF 2021
(UNIT:MILLION DOLLARS)
SYMBOL
STOCK
EXCHANGE
MAIN BUSINESS
IN HR INDUSTRY
YEAR
FOUNDED COUNTRY
7 Robert
Half
5,207.62 12,410.00 72% 7,202.38 RHI NYSE • Staffing 1948
USA
8 PERSOL 2,989.18 7,204.05 71% 4,214.87 2181 TSE • Staffing 2008
JPN
9
AMN
Healthcare
Services
2,511.32 5,758.00 77% 3,246.68 AMN NYSE • Staffing 1985
USA
10
Willis
Towers
Watson
2,122.76 29,593.00 8% 27,470.24 WLTW NASDAQ
• HR Management
Consulting
• Management
Training
1828
UK
Figure 9.
Ranking of Global Public Human Resources Service Companies by The Percentage Increase of Market Capitalisation in
2021-TOP10
RANK
COMPANY
NAME
LOGO
MARKET
CAPITALISATION
GROWTH IN 2021
(%)
MARKET
CAPITALISATION AT
THE END OF 2021
(UNIT:MILLION DOLLARS)
MARKET
CAPITALISATION
GROWTH IN 2021
(UNIT:MILLION DOLLARS)
MARKET
CAPITALISATION AT THE
BEGINNING OF 2021
(UNIT:MILLION DOLLARS)
SYMBOL
STOCK
EXCHANGE
MAIN BUSINESS
IN HR INDUSTRY
YEAR
FOUNDED COUNTRY
1 GEE Group 265% 65.00 47.17 17.83 JOB NYSE • Staffing 1893
USA
2 Tigbur 262% 147.15 106.49 40.67 TIGBUR TASE • Staffing 1978
IL
Specifically, 7 of the top 10 companies in the 2022 Ranking of
Global Public Human Resources Service Companies by Market
Capitalisation are among the top 10 Ranking of Global Public
Human Resources Service Companies by Market Capitalisation
Growth in 2021. And RECRUIT, with a market capitalisation net
growth of $28.66 billion in 2021, surpassing ADP, which is at
the top of the 2022 Ranking of Global Public Human Resources
Service Companies by Market Capitalisation, become the top of
Ranking of Global Public Human Resources Service Companies
by Market Capitalisation Growth in 2021. However, the Adecco
Group, the global human resources service giant, is at the
bottom of Ranking of Global Public Human Resources Service
Companies by Market Capitalisation Growth in 2021, with a
market capitalisation of $3.344 billion evaporated.
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11. Among the top 10 of Ranking of Global Public Human Resources
Service Companies by The Percentage Increase of Market
Capitalisation in 2021, all of the company, except Cross Country
Healthcare, have a market capitalisation of less than $1 billion,
and the top 3 are all staffing companies. Among them, GEE
Group, a U.S. staffing service provider, ranked first with a 265%
growth in market capitalisation in 2021, while Tigbur, an Israeli
staffing service provider, and Cross Country Healthcare, a U.S.
staffing service provider, ranked second and third with 262%
and 213% growth. Although there is no Chinese company in the
top 10 of Ranking of Global Public Human Resources Service
Companies by The Percentage Increase of Market Capitalisation
in 2021, there are 3 in Ranking of Global Public Human
Resources Service Companies by The Percentage Decrease of
Market Capitalisation in 2021. Quhuo, a Chinese staffing service
provider, has the largest market capitalisation decrease in 2021
of 85%.
RANK
COMPANY
NAME
LOGO
MARKET
CAPITALISATION
GROWTH IN 2021
(%)
MARKET
CAPITALISATION AT
THE END OF 2021
(UNIT:MILLION DOLLARS)
MARKET
CAPITALISATION
GROWTH IN 2021
(UNIT:MILLION DOLLARS)
MARKET
CAPITALISATION AT THE
BEGINNING OF 2021
(UNIT:MILLION DOLLARS)
SYMBOL
STOCK
EXCHANGE
MAIN BUSINESS
IN HR INDUSTRY
YEAR
FOUNDED COUNTRY
3
Cross Country
Healthcare 213% 1,055.00 718.01 336.99 CCRN NASDAQ • Staffing 1986
USA
4
HUDSON
RPO
174% 78.03 49.51 28.52 HSON NASDAQ
• Talent & Executive
Search
• Recruitment
Process
Outsourcing
1999
USA
5 DHI 163% 309.00 191.35 117.65 DHX NYSE
• Online
Recruitment
1990
USA
6
Franklin
Covey
110% 662.00 346.09 315.91 FC NYSE
• Management
Training
1980
USA
7
Impellam
Group
109% 309.69 161.50 148.19 IPEL.L LSE
• Talent & Executive
Search
• Staffing
2008
UK
8 HireQuest 99% 277.00 138.00 139.00 HQI NASDAQ • Staffing 2002
USA
9 Caldwell 79% 41.51 18.27 23.25
C W L /
CWLPF
TSX/U.S.
OTC
• Talent & Executive
Search
1970
CA
10 Empresaria 78% 55.06 24.05 31.00 EMR.L LSE
• Staffing
• Recruitment
Process
Outsourcing
1996
UK
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12. RANK
COMPANY
NAME
LOGO
MARKET
CAPITALISATION
GROWTH IN 2021
(%)
MARKET
CAPITALISATION AT
THE END OF 2021
(UNIT:MILLION DOLLARS)
MARKET
CAPITALISATION
GROWTH IN 2021
(UNIT:MILLION DOLLARS)
MARKET
CAPITALISATION AT THE
BEGINNING OF 2021
(UNIT:MILLION DOLLARS)
SYMBOL
STOCK
EXCHANGE
MAIN BUSINESS
IN HR INDUSTRY
YEAR
FOUNDED COUNTRY
1 Quhuo -85% 58.00 -337.90 395.90 QH NASDAQ • Staffing 2012
CHN
2 DPA Group -73% 19.39 -52.87 72.26 DPA AEX
• Online
Recruitment
1992
NL
3
RENRUI HR
TECH -68% 160.57 -347.71 508.28
6919.
HK
HKSE
• Staffing
• HR Management
Software
2010
CHN
4 ShiftPixy -53% 33.59 -37.89 71.48 PIXY NASDAQ • Gig Platform 2015
USA
5
Wilson
Learning
Worldwide
-47% 9.48 -8.30 17.78 9610 TSE
• Management
Training
1965
JPN
6 coursera -41% 3,436.00 -2,426.00 5,862.00 COUR NYSE
• Management
Training
2012
USA
7
Mirai
Works
-39% 35.81 -22.77 58.58 6563 TSE
• Online
Recruitment
2012
JPN
8 fiverr -38% 4,297.00 -2,632.25 6,929.25 FVRR NYSE • Gig Platform 2010
IL
9
Recruiter.
com
-33% 37.71 -18.70 56.41 RCRT NASDAQ
• Staffing
• Talent & Executive
Search
• Online
Recruitment
2015
USA
10 51job -31% 3,300.00 -1,471.83 4,771.83 JOBS NASDAQ
• Online
Recruitment
• Management
Training
1998
CHN
Figure 10.
Ranking of Global Public Human Resources Service Companies by The Percentage Decrease of Market Capitalisation in
2021-TOP10
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13. USA JPN RUS FRA
USA JPN UK AUS RUS CHN IL FRA
Staffing, recruitment and talent & executive search companies lead the way as
market capitalisation of 30% of global public human resources service companies
in 2021 were at a record high
As global HR market demand, volume and characteristics continue to change, the variation in global HR market
share by country/region is also evident. The study and analysis found that the region with the largest global human
resources service market share has shifted from North America in 2009 to Europe in 2013 and is now shifting to Asia,
which is also well reflected in the capital market of human resources service companies.
According to the research, market capitalisation of 30% (35) global public human resources service companies set
a record high in 2021, and the most companies (16) are in US, 9 in Japan, 5 in the UK and only 1 in China - CAREER
INTERNATIONAL, a staffing service provider.
Figure 11.
Global Public Human Resources Service Companies Which Set New Record Highs in 2021 - by Country
The data shows that market capitalisation of 9 staffing companies and 7 talent & executive search companies set
record highs in 2021, and management training companies performed well, while 6 management training companies
set record highs in market capitalisation. As global human resources service companies evolve into technology
companies, 5 human resources management software companies had the highest market capitalisation in 2021 since
they went public.
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13

14. The reason for this is that, in the face of the complex and
ever-changing business environment, spawned by the
industrial restructuring and the occasional epidemic, the
changes in the organizational structure of enterprises,
the radical reform in the labor market, there's strong
demand from employer for flexible allocation and agile
management, as well as demand from both employer
and employee for flexibility and diversity of labor time
and subjects, employment forms, service forms, work
contents and other employment modes, conditions
and environments. This makes staffing not only one of
the topical issues of the marketand a golden track, but
also the overall booming development of the flexible
employment field and market.
At the same time, in order to gain competitive advantage,
companies have unleashed an unprecedentedly
campaign for talent. The top talent market shows a
greater risk resistance across economic cycles which
further strengthen the demand for mid and top-level
talent, and as a result, the market of global recruitment
and talent & executive search become more and more
active. In addition, a number of studies find that in the
current digital economy age, companies are generally
aware of the real talent skills gap. They need a new
business model, a new way of working and flexible
workplace culture for promoting key new skills. Coupled
with the impact of the epidemic and talent shortage,
these factors make companies have a high demand for
training and also make the workforce to become lifelong
learners. The management training segment made great
progress in 2021.
Figure 12.
Global Public Human Resources Service Companies Which Set New Record Highs in 2021 - by Segment
4
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15. Figure 13.
Global Public Human Resources Service Companies Which Set New Record Highs in Market
Capitalisation in 2021
RANK COMPANY NAME LOGO MAIN BUSINESS IN HR INDUSTRY SYMBOL COUNTRY
1 ADP
• Payroll Outsourcing
• HR Management Software
ADP
USA
2 RECRUIT
• Talent & Executive Search
• Recruitment Process
Outsourcing
• Online Recruitment
6098
JPN
3
Marsh &
McLennan
• HR Management Consulting MMC
USA
4 workday • HR Management Software WDAY
USA
5 AON
• HR Management Consulting
• Management Training
AON
UK
6 PAYCHEX
• Payroll Outsourcing
• HR Management Software
PAYX
USA
7
Willis Towers
Watson
• HR Management Consulting
• Management Training
WLTW
UK
8 Paycom • HR Management Software PAYC
USA
12 paylocity • HR Management Software PCTY
USA
13 Robert Half • Staffing RHI
USA
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16. RANK COMPANY NAME LOGO MAIN BUSINESS IN HR INDUSTRY SYMBOL COUNTRY
14 seek • Online Recruitment SEK.AX
AUS
16 PERSOL • Staffing 2181
JPN
17 ASGN • Staffing ASGN
USA
18 TriNet
• Payroll Outsourcing
• Benefits Outsourcing
TNET
USA
20
AMN Healthcare
Services
• Staffing AMN
USA
23 upwork • Gig Platform UPWK
USA
25 KORN FERRY
• Talent & Executive Search
• Recruitment Process
Outsourcing
• HR Management Consulting
• Talent Selection
KFY
USA
27
TechnoPro
Holdings
• Staffing 6028
JPN
32 PageGroup • Talent & Executive Search
PAGE.L/
3MI.F
UK
34 HeadHunter • Online Recruitment
HHR/
HHRU
RUS
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17. RANK COMPANY NAME LOGO MAIN BUSINESS IN HR INDUSTRY SYMBOL COUNTRY
35 CBIZ
• Payroll Outsourcing
• Benefits Outsourcing
CBZ
USA
35 dip • Online Recruitment 2379
JPN
37
CAREER
INTERNATIONAL
• Staffing
• Talent & Executive Search
• Recruitment Process
Outsourcing
300662.SZ
CHN
39 MEITEC • Staffing 9744
JPN
40 KFORCE • Staffing KFRC
USA
41 UT Group
• Staffing
• Recruitment Process
Outsourcing
2146
JPN
47 Danel • Online Recruitment DANE
IL
48 Insource
• Management
Training
6200
JPN
50 SYNERGIE • Staffing SDG.PA
FRA
52 S-Pool • Staffing 2471
JPN
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18. Global Major Human Resources Service Market Analysis
Something unprecedented is happening in the United States - the world's largest human resources service market:
Americans are quitting their jobs in record numbers - The Great Resignation. This is one of the effects of the "YOLO
(You Only Live Once)" economic and life philosophy that has been increasingly adopted by people as a result of
the epidemic and hyperinflation: people are rethinking their values and priorities, reassessing the way they live
and work. Meanwhile, it is also the paradoxical effect of the "return" in manufacturing industry: about 1,800 U.S.
companies intend to move all or part of their production back to the U.S., with about 220,000 new jobs emerging
across the country by the end of 2021. According to the U.S. Department of Labor, over 3.99 million people have quit
their jobs since April 2021, which set a record high, and in the next few months, the number of quits in the U.S. were
all above 4 million and still went through the roof. Since April, nearly 12% of employees have resigned and 95% have
been currently considering changing their jobs. To date, the U.S. has a total workforce of approximately 160 million
but there is a peaked number of more than 14 million job vacancies.
RANK COMPANY NAME LOGO MAIN BUSINESS IN HR INDUSTRY SYMBOL COUNTRY
53 Sthree
• Talent & Executive Search
• Recruitment Process
Outsourcing
STEM.L
UK
58
ROBERT
WALERS GROUP
• Talent & Executive Search RWA.L
UK
62 Franklin Covey • Management Training FC
USA
63 Kelly
• Talent & Executive Search
• Staffing
KELYA/
KELYB
USA
107 Alue • Management Training 7043
JPN
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19. RANK
COMPANY
NAME
LOGO
MARKET
CAPITALISATION AT
THE END OF 2021
(UNIT:MILLION DOLLARS)
MARKET
CAPITALISATION
GROWTH IN 2021
(UNIT:MILLION DOLLARS)
MARKET
CAPITALISATION
GROWTH
IN 2021
(%)
MARKET
CAPITALISATION
AT THE BEGINNING
OF 2021
(UNIT:MILLION DOLLARS)
SYMBOL
MAIN BUSINESS
IN HR INDUSTRY
YEAR
FOUNDED COUNTRY
1 ADP 103,905.00 27,481.85 36% 76,423.15 ADP
• Payroll
Outsourcing
• HR Management
Software
1949
USA
3
Marsh &
McLennan
87,761.00 27,743.02 46% 60,017.98 MMC
• HR Management
Consulting
1871
USA
4 workday 69,125.00 10,957.99 19% 58,167.01 WDAY
• HR Management
Software
2005
USA
6 PAYCHEX 49,243.00 15,259.09 45% 33,983.91 PAYX
• Payroll
Outsourcing
• HR Management
Software
1971
USA
8 Paycom 24,922.00 -1,435.73 -5% 26,357.73 PAYC
• HR Management
Software
1998
USA
9 Ceridian 15,800.00 -1,034.08 -6% 16,834.08 CDAY
• HR Management
Software
2013
USA
12 paylocity 12,995.00 1,697.41 15% 11,297.59 PCTY
• HR Management
Software
1997
USA
13
Robert
Half
1948
USA
17 ASGN 1985
USA
18 TriNet 6,274.00 841.68 15% 5,432.32 TNET
• Payroll
Outsourcing
Outsourcing
1988
USA
Figure 14.
2022 Ranking of Global Public Human Resources Service Companies by Market Capitalisation - USA
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20. RANK
COMPANY
NAME
LOGO
MARKET
CAPITALISATION AT
THE END OF 2021
(UNIT:MILLION DOLLARS)
MARKET
CAPITALISATION
GROWTH IN 2021
(UNIT:MILLION DOLLARS)
MARKET
CAPITALISATION
GROWTH
IN 2021
(%)
MARKET
CAPITALISATION
AT THE BEGINNING
OF 2021
(UNIT:MILLION DOLLARS)
SYMBOL
MAIN BUSINESS
IN HR INDUSTRY
YEAR
FOUNDED COUNTRY
19 alight 5,836.00 974.00 20% 4,862.00 ALIT
• HR Management
Software
• Payroll
Outsourcing
2017
USA
20
AMN
Healthcare
Services
5,758.00 2,511.32 77% 3,246.68 AMN • Staffing 1985
USA
21 ManpowerGroup 5,279.00 31.76 1% 5,247.24 MAN
• Staffing
• Talent & Executive
Search
• Recruitment
Process
Outsourcing
1948
USA
22 Insperity 4,521.00 1,362.36 43% 3,158.64 NSP
• HR Management
Consulting
1986
USA
23 upwork 4,380.00 117.85 3% 4,262.15 UPWK • Gig Platform 1999
USA
25
KORN
FERRY
4,128.00 1,755.26 74% 2,372.74 KFY
• Talent & Executive
Search
• Recruitment
Process
Outsourcing
• HR Management
Consulting
• Talent Selection
1969
USA
26 Cornerstone 3,840.00 962.55 33% 2,877.45 CSOD
• HR Management
Software
1999
USA
28 coursera 3,436.00 -2,426.00 -41% 5,862.00 COUR
• Management
Training
2012
USA
31 ZipRecruiter 2,961.00 623.00 27% 2,338.00 ZIP
• Online
Recruitment
2010
USA
33
First
Advantage
2,911.00 -42.00 -1% 2,953.00 FA
• Background
Screening
2003
USA
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21. RANK
COMPANY
NAME
LOGO
MARKET
CAPITALISATION AT
THE END OF 2021
(UNIT:MILLION DOLLARS)
MARKET
CAPITALISATION
GROWTH IN 2021
(UNIT:MILLION DOLLARS)
MARKET
CAPITALISATION
GROWTH
IN 2021
(%)
MARKET
CAPITALISATION
AT THE BEGINNING
OF 2021
(UNIT:MILLION DOLLARS)
SYMBOL
MAIN BUSINESS
IN HR INDUSTRY
YEAR
FOUNDED COUNTRY
36 CBIZ 2,045.00 643.00 46% 1,402.00 CBZ
• Payroll
Outsourcing
• Benefits
Outsourcing
1987
USA
40 KFORCE 1,610.00 675.29 72% 934.71 KFRC • Staffing 1966
USA
43 HireRight 1,270.00 24.17 2% 1,245.83 HRT
• Background
Screening
1990
USA
46 Skillsoft 1,220.00 -159.93 -12% 1,379.93 SKIL
• Management
Training
/
USA
49
Cross Country
Healthcare 1,055.00 718.01 213% 336.99 CCRN • Staffing 1986
USA
51 trueblue 982.00 320.26 48% 661.74 TBI • Staffing 1989
USA
54
HEIDRICK &
STRUGGLES
854.00 278.76 48% 575.24 HSII
• Talent & Executive
Search
1953
USA
56 HealthStream 835.00 127.00 18% 708.00 HSTM • Staffing 1990
USA
62
Franklin
Covey
662.00 346.09 110% 315.91 FC
• Management
Training
1980
USA
63 Kelly 660.00 -157.37 -19% 817.37
KELYA/
KELYB
• Talent & Executive
Search
• Staffing
1946
USA
65 RGP 593.00 180.67 44% 412.33 RGP
• HR Management
Consulting
1996
USA
67 BBSI 510.00 -17.50 -3% 527.50 BBSI
• HR Management
Consulting
1972
USA
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21

22. RANK
COMPANY
NAME
LOGO
MARKET
CAPITALISATION AT
THE END OF 2021
(UNIT:MILLION DOLLARS)
MARKET
CAPITALISATION
GROWTH IN 2021
(UNIT:MILLION DOLLARS)
MARKET
CAPITALISATION
GROWTH
IN 2021
(%)
MARKET
CAPITALISATION
AT THE BEGINNING
OF 2021
(UNIT:MILLION DOLLARS)
SYMBOL
MAIN BUSINESS
IN HR INDUSTRY
YEAR
FOUNDED COUNTRY
68
GP
Strategies
360.00 154.15 75% 205.85 GPX
• Management
Training
1959
USA
69 Benefitfocus 351.00 -120.70 -26% 471.70 BNFT
• Benefits
Outsourcing
2000
USA
71 DHI 309.00 191.35 163% 117.65 DHX
• Online
Recruitment
1990
USA
73 HireQuest 277.00 138.00 99% 139.00 HQI • Staffing 2002
USA
81 BGSF 150.00 9.25 7% 140.75 BGSF
• Staffing
• Talent & Executive
Search
2007
USA
82 Asure 150.00 13.90 10% 136.10 ASUR
• HR Management
Software
1985
USA
87
HUDSON
RPO
78.03 49.51 174% 28.52 HSON
• Talent & Executive
Search
• Recruitment
Process
Outsourcing
1999
USA
88 GEE Group 65.00 47.17 265% 17.83 JOB • Staffing 1893
USA
89 VOLT 64.47 25.56 66% 38.91 VOLT • Staffing 1950
USA
95
Recruiter.
com
37.71 -18.70 -33% 56.41 RCRT
• Staffing
• Talent & Executive
Search
• Online
Recruitment
2015
USA
99 ShiftPixy 33.59 -37.89 -53% 71.48 PIXY • Gig Platform 2015
USA
108
Staffing
360
Solutions
16.00 6.23 64% 9.77 STAF • Staffing 2009
USA
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22

23. HRflag “2022 Market capitalisation Research of Global Public Human Resources Service Companies” found that the
U.S. not only has the most public human resources service companies, but also occupies 6 seats in the Top 10 of 2022
Ranking of Global Public Human Resources Service Companies by Market Capitalisation and half of the Top 50 (25).
The average growth in market capitalisation of public human resources service companies in the U.S. in 2021 was
43%, which is second only to the UK but much higher than Japan and China. Specifically, staffing, online recruitment
and talent & executive search companies accounts for 60% of the total number of U.S. public human resources
service companies, and staffing companies account for the most.
Figure 15.
Market Capitalisation Average Growth and Percentage of Companies With Positive Growth in 2021 of US,
Japanese, UK and Chinese Public Human Resources Service Companies (units: %)
The most notable feature of Japan in 2021, the world's second largest human resources service market, was delayed
retirement, which result from the persistent low fertility rate, aging of population and severe shortage of talent, as
well as the decrease in skilled interns coming to Japan due to the epidemic that increase the shortage of young labor
force. According to the National Institute of Social Security and Population Studies, Japan's working-age population
(15-64 years old) will be 59.78 million in 2040, a significant decrease of 17.5 million from 2015. On the other hand, the
aging rate is expected to rise to 35.3% for those aged 65 and older. It is a major issue for companies to utilize older
employees who ready have skills. Therefore, under this context, Japanese companies want to utilize skilled workers.
This further makes Japanese human resources service market extreme separate the segment of human resources
service for different people and industries. Japanese human resources market shows a strong demand for staffing
and online recruitment service.
-16%
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23

24. Figure 16.
2022 Ranking of Global Public Human Resources Service Companies by Market Capitalisation - Japan
RANK
COMPANY
NAME
LOGO
MARKET
CAPITALISATION AT
THE END OF 2021
(UNIT:MILLION DOLLARS)
MARKET
CAPITALISATION
GROWTH IN 2021
(UNIT:MILLION DOLLARS)
MARKET
CAPITALISATION
GROWTH
IN 2021
(%)
MARKET
CAPITALISATION
AT THE BEGINNING
OF 2021
(UNIT:MILLION DOLLARS)
SYMBOL
MAIN BUSINESS
IN HR INDUSTRY
YEAR
FOUNDED COUNTRY
2 RECRUIT 98,520.00 28,659.66 41% 69,860.34 6098
• Talent & Executive
Search
• Recruitment
Process
Outsourcing
• Online
Recruitment
1960
JPN
16 PERSOL 7,204.05 2,989.18 71% 4,214.87 2181 • Staffing 2008
JPN
27
TechnoPro
Holdings
3,447.97 268.34 15% 3,009.21 6028 • Staffing 2006
JPN
35 dip 2,145.45 730.98 52% 1,414.47 2379
• Online
Recruitment
1997
JPN
38
Out-
Sourcing
1,778.57 323.48 22% 1,455.09 2427 • Staffing 1997
JPN
39 MEITEC 1,764.32 323.35 22% 1,440.97 9744 • Staffing 1974
JPN
41 UT Group 1,590.72 484.17 44% 1,106.55 2146
• Staffing
• Recruitment
Process
Outsourcing
1995
JPN
42 en Japan 1,472.32 116.61 9% 1,355.72 4849
• Online
Recruitment
• Management
Training
• Management
Training
2000
JPN
44 PASONA 1,253.64 459.21 58% 794.43 2168
• Staffing
• Management
Training
2007
JPN
48 Insource 1,080.34 427.13 65% 653.21 6200
• Management
Training
2002
JPN
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25. RANK
COMPANY
NAME
LOGO
MARKET
CAPITALISATION AT
THE END OF 2021
(UNIT:MILLION DOLLARS)
MARKET
CAPITALISATION
GROWTH IN 2021
(UNIT:MILLION DOLLARS)
MARKET
CAPITALISATION
GROWTH
IN 2021
(%)
MARKET
CAPITALISATION
AT THE BEGINNING
OF 2021
(UNIT:MILLION DOLLARS)
SYMBOL
MAIN BUSINESS
IN HR INDUSTRY
YEAR
FOUNDED COUNTRY
52 S-Pool 876.11 334.70 62% 541.41 2471 • Staffing 1999
JPN
55
FULLCAST
Holdings
840.97 263.87 46% 577.10 4848 • Staffing 1990
JPN
59
Jac
Recruitment 777.92 71.59 10% 706.32 2124
• Online
Recruitment
1988
JPN
66 WDB 565.74 51.88 10% 513.86 2475 • Staffing 1985
JPN
72
Nisso
Corporation 280.20 68.40 32% 211.80 6569 • Staffing 1980
JPN
77
Matching
Service
Japan
210.59 -34.17 -14% 244.76 6539
• Online
Recruitment
1990
JPN
85
Human
Holdings
98.50 23.18 31% 75.32 2415
• Staffing
• Management
Training
1985
JPN
86 Artner 84.83 -3.50 -4% 88.33 2163 • Staffing 1962
JPN
94 Hirayama 39.46 0.93 2% 38.52 7781 • Staffing 1955
JPN
96
Mirai
Works
35.81 -22.77 -39% 58.58 6563
• Online
Recruitment
2012
JPN
97 Interworks 34.66 2.72 9% 31.94 6032 • Staffing 1991
JPN
98 Career 33.72 6.59 24% 27.13 6198
• Staffing
• Online
Recruitment
2009
JPN
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25

26. RANK
COMPANY
NAME
LOGO
MARKET
CAPITALISATION AT
THE END OF 2021
(UNIT:MILLION DOLLARS)
MARKET
CAPITALISATION
GROWTH IN 2021
(UNIT:MILLION DOLLARS)
MARKET
CAPITALISATION
GROWTH
IN 2021
(%)
MARKET
CAPITALISATION
AT THE BEGINNING
OF 2021
(UNIT:MILLION DOLLARS)
SYMBOL
MAIN BUSINESS
IN HR INDUSTRY
YEAR
FOUNDED COUNTRY
100
Human
Associates
Holdings
27.25 9.00 49% 18.25 6575 • Staffing 1990
JPN
101 Cookbiz 25.61 1.80 8% 23.81 6558
• Online
Recruitment
• Staffing
2007
JPN
102
CRG
Holdings
22.42 -1.90 -8% 24.32 7041 • Staffing 2013
JPN
103 JAIC 21.50 -0.47 -2% 21.98 7073
• Online
Recruitment
1991
JPN
106
Crie
Anabuki
19.14 7.61 66% 11.53 4336
• Online
Recruitment
1986
JPN
107 Alue 18.53 4.97 37% 13.57 7043
• Management
Training
2003
JPN
109 Ecomic 15.58 -0.76 -5% 16.35 3802
• Payroll
Outsourcing
1997
JPN
111 Sportsfield 11.85 -3.61 -23% 15.45 7080
• Online
Recruitment
2010
JPN
113
Wilson
Learning
Worldwide
9.48 -8.30 -47% 17.78 9610
• Management
Training
1965
JPN
HRflag “2022 Market capitalisation Research of Global
Public Human Resources Service Companies” shows
that Japan has the second largest number of public
human resources service companies in the world,with
not only 10 Japanese companies listed in the Top 50 of
the 2022 Ranking of Global Public Human Resources
Service Companies by Market Capitalisation, but 74%
of Japanese public human resources service companies
also had positive market capitalisation growth in 2021,
with an average increase of 21%. The main type of
Japanese public human resources service companies are
staffing and online recruitment companies. Among the 31
Japanese public human resources service companies, all
of them are staffing and online recruitment companies,
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27. except for S-Pool and Alue, two management training
companies, and Ecomic, a payroll outsourcing company.
In addition, although Japanese human resources service
provider RECRUIT rank second in 2022 Ranking of
Global Public Human Resources Service Companies by
Market Capitalisation, the market capitalisation of other
Japanese companies as a whole is low, and the total
market capitalisation at the end of 2021 ($25.787 billion)
is about 30% of RECRUIT's market capitalisation.
China has made great strides in recent years as an
emerging human resources service market with rapid
development and growing market size. Under the context
of persistent uncertainties, supportive national policies,
China's fundamental talent upgrade and economic
transformation, and the convergence of various fields
driven by technology, human resources service industry
gain great opportunities for development. Meanwhile, it
also promotes market dynamics in talent recruitment,
mid-to-high-end talent acquisition service and staffing
service. Due to the disruptive changes in the world
of work, the barrier of face-to-face communication,
penetration of online recruitment set a record high in
2020 while the recruitment industry ushered a new
period of competition. According to China Insights
Consultancy (CIC), the total market size of China's
recruitment service market is estimated to be about
170.8 billion RMB in 2020 in terms of revenue, and is
expected to grow at a CAGR of over 20% to about 446
billion RMB in 2025. As for the talent & executive search
market, according to Cognizant Consulting, the total
size of the mid-to-high-end talent acquisition market
was about 167 billion yuan in 2020 and is expected to
grow at a CAGR of more than 20% to 2025. In addition,
data shows that among China's 900 million working
population, the number of people engaged in casual
labor has exceeded 200 million, and the staffing market
is full of explosive power.
Figure 17.
2022 Ranking of Global Public Human Resources Service Companies by Market Capitalisation - China
RANK
COMPANY
NAME
LOGO
MARKET
CAPITALISATION AT
THE END OF 2021
(UNIT:MILLION DOLLARS)
MARKET
CAPITALISATION
GROWTH IN 2021
(UNIT:MILLION DOLLARS)
MARKET
CAPITALISATION
GROWTH
IN 2021
(%)
MARKET
CAPITALISATION
AT THE BEGINNING
OF 2021
(UNIT:MILLION DOLLARS)
SYMBOL
MAIN BUSINESS
IN HR INDUSTRY
YEAR
FOUNDED COUNTRY
10
BOSSBOSS
Zhipin
14,265.00 -613.00 -4% 14,878.00 BZ
• Online
Recruitment
2014
CHN
30 51job 3,300.00 -1,471.83 -31% 4,771.83 JOBS
• Online
Recruitment
• Management
Training
1998 CHN
37
CAREER
INTERNATIONAL 1,892.21 358.69 23% 1,533.51
300662.
SZ
• Staffing
• Talent&Executive
Search
• Recruitment
Process
Outsourcing
2005
CHN
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27

28. HRflag “2022 Market capitalisation Research of Global
Public Human Resources Service Companies” shows
that not only the overall market capitalisation of Chinese
public human resources service companies is not high,
but also the average growth of market capitalisation of
9 Chinese public human resources service companies
in 2021 is -16%, except for CAREER INTERNATIONL, 104
Information Technology (104 Corporation), and Action
Education (Action Education). The market capitalisation
of the remaining 6 companies has decreased in 2021
compared to the previous year. In terms of the segment,
online recruitment and staffing companies are the
most in China (4 each), among which Boss Zhipin is
the only Chinese company among the Top 10 in 2022
Ranking of Global Public Human Resources Service
Companies by Market Capitalisation with a market
capitalisation of US$12.465 billion at the end of 2021.
CAREER INTERNATIONL, China's leading staffing
company, its market capitalisation increased by 23% to
$1.892 billion in 2021, while Zhaopin.com saw its market
capitalisation decrease by nearly $1.5 billion, making
it the top company which decrease the most in market
capitalisation in China. Besides, Action Education has
the highest market capitalisation growth (43%) among
China public human resources service companies.
Overall, in the process of rapid development of the
global human resources service industry, the Asia-
Pacific region is about to become the world's second
largest human resources service market. Under the
comprehensive effect of technology penetration,
economic influence, policy guidance, changes of market
demand, job-seeking talents and disruptive changes of
the industry, global human resources service companies
will usher in a new wave of peak development in the
capital market.
RANK
COMPANY
NAME
LOGO
MARKET
CAPITALISATION AT
THE END OF 2021
(UNIT:MILLION DOLLARS)
MARKET
CAPITALISATION
GROWTH IN 2021
(UNIT:MILLION DOLLARS)
MARKET
CAPITALISATION
GROWTH
IN 2021
(%)
MARKET
CAPITALISATION
AT THE BEGINNING
OF 2021
(UNIT:MILLION DOLLARS)
SYMBOL
MAIN BUSINESS
IN HR INDUSTRY
YEAR
FOUNDED COUNTRY
45 Liepin 1,234.24 -34.68 -3% 1,268.91
6100.
HK
• Online
Recruitment
2011
CHN
60
Action
Education
740.02 220.73 43% 519.28
605098.
SH
• Management
Training
2006
CHN
75
ManpowerGroup
Greater China 243.17 -106.07 -30% 349.24
2180.
HK
• Staffing
• Talent &Executive
Search
• Recruitment
Process
Outsourcing
1997
CHN
76
104104
Corporation
211.02 21.59 11% 189.42
3130.
TW
• Online
Recruitment
1996
CHN
80
RENRUI
HR TECH
160.57 -347.71 -68% 508.28
6919.
HK
• Staffing
• HR Management
Software
2010
CHN
90 Quhuo 58.00 -337.90 -85% 395.90 QH • Staffing 2012
CHN
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29. 29

30. Market Capitalisation
01 02 03 04
05 06 07 08
09 10 11 12
13 14 15 16
17 18 19 20
* Market Capitalisation:The market capitalisation at the end of 2021
Market Capitalisation Growth in 2021(%)：
36%
Market Capitalisation 103,905.00million dollars
Market Capitalisation Growth in 2021(%)：
41%
Market Capitalisation 98,520.00million dollars
Market Capitalisation Growth in 2021(%)：
46%
Market Capitalisation 87,761.00million dollars
Market Capitalisation Growth in 2021(%)：
19%
Market Capitalisation 69,125.00million dollars
Market Capitalisation Growth in 2021(%)：
36%
Market Capitalisation 66,223.00million dollars
Market Capitalisation Growth in 2021(%)：
45%
Market Capitalisation 49,243.00million dollars
Market Capitalisation Growth in 2021(%)：
8%
Market Capitalisation 29,593.00million dollars
Market Capitalisation Growth in 2021(%)：
-5%
Market Capitalisation 24,922.00million dollars
Market Capitalisation Growth in 2021(%)：
-6%
Market Capitalisation 15,800.00million dollars
Market Capitalisation Growth in 2021(%)：
-4%
Market Capitalisation 14,265.00million dollars
Market Capitalisation Growth in 2021(%)：
8%
Market Capitalisation 13,066.24million dollars
Market Capitalisation Growth in 2021(%)：
15%
Market Capitalisation 12,995.00million dollars
Market Capitalisation Growth in 2021(%)：
72%
Market Capitalisation12,410.00million dollars
Market Capitalisation Growth in 2021(%)：
14%
Market Capitalisation 8,959.77million dollars
Market Capitalisation Growth in 2021(%)：
-28%
Market Capitalisation 8,583.85million dollars
Market Capitalisation Growth in 2021(%)：
71%
Market Capitalisation 7,204.05million dollars
Market Capitalisation Growth in 2021(%)：
44%
Market Capitalisation 6,429.00million dollars
Market Capitalisation Growth in 2021(%)：
15%
Market Capitalisation 6,274.00million dollars
Market Capitalisation Growth in 2021(%)：
20%
Market Capitalisation 5,836.00million dollars
Market Capitalisation Growth in 2021(%)：
77%
Market Capitalisation 5,758.00 million dollars
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31. Market Capitalisation
TM
21 22 23 24
25 26 27 28
29 30 31 32
33 34 35 36
37 38 39 40
* Market Capitalisation:The market capitalisation at the end of 2021
Market Capitalisation Growth in 2021(%)：
1%
Market Capitalisation 5,279.00million dollars
Market Capitalisation Growth in 2021(%)：
43%
Market Capitalisation 4,521.00million dollars
Market Capitalisation Growth in 2021(%)：
3%
Market Capitalisation 4,380.00million dollars
Market Capitalisation Growth in 2021(%)：
-38%
Market Capitalisation 4,297.00million dollars
Market Capitalisation Growth in 2021(%)：
74%
Market Capitalisation 4,128.00million dollars
Market Capitalisation Growth in 2021(%)：
33%
Market Capitalisation 3,840.00million dollars
Market Capitalisation Growth in 2021(%)：
15%
Market Capitalisation 3,447.97million dollars
Market Capitalisation Growth in 2021(%)：
-41%
Market Capitalisation 3,436.00million dollars
Market Capitalisation Growth in 2021(%)：
2%
Market Capitalisation 3,361.17million dollars
Market Capitalisation Growth in 2021(%)：
-31%
Market Capitalisation 3,300.00million dollars
Market Capitalisation Growth in 2021(%)：
27%
Market Capitalisation 2,961.00million dollars
Market Capitalisation Growth in 2021(%)：
46%
Market Capitalisation 2,953.75million dollars
Market Capitalisation Growth in 2021(%)：
-1%
Market Capitalisation2,911.00million dollars
Market Capitalisation Growth in 2021(%)：
70%
Market Capitalisation 2,618.00million dollars
Market Capitalisation Growth in 2021(%)：
52%
Market Capitalisation 2,145.45million dollars
Market Capitalisation Growth in 2021(%)：
46%
Market Capitalisation 2,045.00million dollars
Market Capitalisation Growth in 2021(%)：
23%
Market Capitalisation 1,892.21million dollars
Market Capitalisation Growth in 2021(%)：
22%
Market Capitalisation 1,778.57million dollars
Market Capitalisation Growth in 2021(%)：
22%
Market Capitalisation 1,764.32 million dollars
Market Capitalisation Growth in 2021(%)：
72%
Market Capitalisation 1,610.00million dollars
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32. Market Capitalisation
41 42 43 44
45 46 47 48
49 50 51 52
53 54 55 56
57 58 59 60
* Market Capitalisation:The market capitalisation at the end of 2021
Market Capitalisation Growth in 2021(%)：
44%
Market Capitalisation1,590.72million dollars
Market Capitalisation Growth in 2021(%)：
9%
Market Capitalisation 1,472.32million dollars
Market Capitalisation Growth in 2021(%)：
2%
Market Capitalisation 1,270.00million dollars
Market Capitalisation Growth in 2021(%)：
58%
Market Capitalisation 1,253.64million dollars
Market Capitalisation Growth in 2021(%)：
-3%
Market Capitalisation1,234.24million dollars
Market Capitalisation Growth in 2021(%)：
-12%
Market Capitalisation 1,220.00million dollars
Market Capitalisation Growth in 2021(%)：
29%
Market Capitalisation 1,171.01million dollars
Market Capitalisation Growth in 2021(%)：
65%
Market Capitalisation 1,080.34million dollars
Market Capitalisation Growth in 2021(%)：
213%
Market Capitalisation 1,055.00million dollars
Market Capitalisation Growth in 2021(%)：
10%
Market Capitalisation 1,049.32million dollars
Market Capitalisation Growth in 2021(%)：
48%
Market Capitalisation 982.00million dollars
Market Capitalisation Growth in 2021(%)：
62%
Market Capitalisation 876.11million dollars
Market Capitalisation Growth in 2021(%)：
58%
Market Capitalisation864.38million dollars
Market Capitalisation Growth in 2021(%)：
48%
Market Capitalisation 854.00million dollars
Market Capitalisation Growth in 2021(%)：
46%
Market Capitalisation 840.97million dollars
Market Capitalisation Growth in 2021(%)：
18%
Market Capitalisation 835.00million dollars
Market Capitalisation Growth in 2021(%)：
-4%
Market Capitalisation 825.73million dollars
Market Capitalisation Growth in 2021(%)：
64%
Market Capitalisation 812.08million dollars
Market Capitalisation Growth in 2021(%)：
10%
Market Capitalisation 777.92million dollars
Market Capitalisation Growth in 2021(%)：
43%
Market Capitalisation 740.02million dollars
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PUBLISHERS Scan QR Code
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32

33. Market Capitalisation
61 62 63 64
65 66 67 68
69 70 71 72
73 74 75 76
77 78 79 80
* Market Capitalisation:The market capitalisation at the end of 2021
Market Capitalisation Growth in 2021(%)：
48%
Market Capitalisation681.41million dollars
Market Capitalisation Growth in 2021(%)：
110%
Market Capitalisation 662.00million dollars
Market Capitalisation Growth in 2021(%)：
-19%
Market Capitalisation 660.00million dollars
Market Capitalisation Growth in 2021(%)：
45%
Market Capitalisation 605.99million dollars
Market Capitalisation Growth in 2021(%)：
44%
Market Capitalisation 593.00million dollars
Market Capitalisation Growth in 2021(%)：
10%
Market Capitalisation 565.74million dollars
Market Capitalisation Growth in 2021(%)：
-3%
Market Capitalisation 510.00million dollars
Market Capitalisation Growth in 2021(%)：
75%
Market Capitalisation 360.00million dollars
Market Capitalisation Growth in 2021(%)：
-26%
Market Capitalisation 351.00million dollars
Market Capitalisation Growth in 2021(%)：
109%
Market Capitalisation 309.69million dollars
Market Capitalisation Growth in 2021(%)：
163%
Market Capitalisation 309.00million dollars
Market Capitalisation Growth in 2021(%)：
32%
Market Capitalisation 280.20million dollars
Market Capitalisation Growth in 2021(%)：
99%
Market Capitalisation277.00million dollars
Market Capitalisation Growth in 2021(%)：
34%
Market Capitalisation 259.20million dollars
Market Capitalisation Growth in 2021(%)：
-30%
Market Capitalisation 243.17million dollars
Market Capitalisation Growth in 2021(%)：
11%
Market Capitalisation 211.02million dollars
Market Capitalisation Growth in 2021(%)：
-14%
Market Capitalisation 210.59million dollars
Market Capitalisation Growth in 2021(%)：
9%
Market Capitalisation 186.52million dollars
Market Capitalisation Growth in 2021(%)：
1%
Market Capitalisation 177.19million dollars
Market Capitalisation Growth in 2021(%)：
-68%
Market Capitalisation 160.57million dollars
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PUBLISHERS Scan QR Code
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33

34. Market Capitalisation
81 82 83 84
85 86 87 88
89 90 91 92
93 94 95 96
97 98 99 100
* Market Capitalisation:The market capitalisation at the end of 2021
Market Capitalisation Growth in 2021(%)：
7%
Market Capitalisation150.00million dollars
Market Capitalisation Growth in 2021(%)：
10%
Market Capitalisation 150.00 million dollars
Market Capitalisation Growth in 2021(%)：
262%
Market Capitalisation147.15million dollars
Market Capitalisation Growth in 2021(%)：
58%
Market Capitalisation 144.52million dollars
Market Capitalisation Growth in 2021(%)：
31%
Market Capitalisation98.50million dollars
Market Capitalisation Growth in 2021(%)：
-4%
Market Capitalisation 84.83million dollars
Market Capitalisation Growth in 2021(%)：
174%
Market Capitalisation 78.03million dollars
Market Capitalisation Growth in 2021(%)：
265%
Market Capitalisation 65.00million dollars
Market Capitalisation Growth in 2021(%)：
66%
Market Capitalisation 64.47million dollars
Market Capitalisation Growth in 2021(%)：
-85%
Market Capitalisation 58.00million dollars
Market Capitalisation Growth in 2021(%)：
64%
Market Capitalisation 57.81million dollars
Market Capitalisation Growth in 2021(%)：
78%
Market Capitalisation 55.06million dollars
Market Capitalisation Growth in 2021(%)：
79%
Market Capitalisation 41.51million dollars
Market Capitalisation Growth in 2021(%)：
2%
Market Capitalisation 39.46million dollars
Market Capitalisation Growth in 2021(%)：
-33%
Market Capitalisation 37.71million dollars
Market Capitalisation Growth in 2021(%)：
-39%
Market Capitalisation 35.8１million dollars
Market Capitalisation Growth in 2021(%)：
9%
Market Capitalisation 34.66million dollars
Market Capitalisation Growth in 2021(%)：
24%
Market Capitalisation33.72million dollars
Market Capitalisation Growth in 2021(%)：
-53%
Market Capitalisation 33.59million dollars
Market Capitalisation Growth in 2021(%)：
49%
Market Capitalisation 27.25million dollars
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PUBLISHERS Scan QR Code
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34

35. Market Capitalisation
101 102 103 104
105 106 107 108
109 110 111 112
113
* Market Capitalisation:The market capitalisation at the end of 2021
Market Capitalisation Growth in 2021(%)：
8%
Market Capitalisation 25.61million dollars
Market Capitalisation Growth in 2021(%)：
-8%
Market Capitalisation22.42million dollars
Market Capitalisation Growth in 2021(%)：
-2%
Market Capitalisation21.50million dollars
Market Capitalisation Growth in 2021(%)：
29%
Market Capitalisation 21.48million dollars
Market Capitalisation Growth in 2021(%)：
-73%
Market Capitalisation19.39million dollars
Market Capitalisation Growth in 2021(%)：
66%
Market Capitalisation 19.14million dollars
Market Capitalisation Growth in 2021(%)：
37%
Market Capitalisation 18.53million dollars
Market Capitalisation Growth in 2021(%)：
64%
Market Capitalisation 16.00million dollars
Market Capitalisation Growth in 2021(%)：
-5%
Market Capitalisation 15.58million dollars
Market Capitalisation Growth in 2021(%)：
21%
Market Capitalisation 12.64million dollars
Market Capitalisation Growth in 2021(%)：
-23%
Market Capitalisation 11.85million dollars
Market Capitalisation Growth in 2021(%)：
3%
Market Capitalisation 11.65million dollars
Market Capitalisation Growth in 2021(%)：
-47%
Market Capitalisation 9.48million dollars
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PUBLISHERS Scan QR Code
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35

36. Market Capitalisation
RANK
COMPANY
NAME
LOGO
MARKET
CAPITALISATION AT
THE END OF 2021
(UNIT:MILLION DOLLARS)
MARKET
CAPITALISATION
GROWTH IN 2021
(UNIT:MILLION DOLLARS)
MARKET
CAPITALISATION
GROWTH
IN 2021
(%)
MARKET
CAPITALISATION
AT THE BEGINNING
OF 2021
(UNIT:MILLION DOLLARS)
SYMBOL
STOCK
EXCHANGE
MAIN BUSINESS
IN HR INDUSTRY
YEAR
FOUNDED COUNTRY
1 ADP 103,905.00 27,481.85 36% 76,423.15 ADP NASDAQ
• Payroll
Outsourcing
• HR Management
Software
1949
USA
2 RECRUIT 98,520.00 28,659.66 41% 69,860.34 6098 TSE
• Talent & Executive
Search
• Recruitment
Process
Outsourcing
• Online
Recruitment
1960
JPN
3
Marsh &
McLennan
87,761.00 27,743.02 46% 60,017.98 MMC NYSE
• HR Management
Consulting
1871
USA
4 workday 69,125.00 10,957.99 19% 58,167.01 WDAY NASDAQ
• HR Management
Software
2005
USA
5 AON 66,223.00 17,371.16 36% 48,851.84 AON NYSE
• HR Management
Consulting
• Management
Training
1982
UK
6 PAYCHEX 49,243.00 15,259.09 45% 33,983.91 PAYX NASDAQ
• Payroll
Outsourcing
• HR Management
Software
1971
USA
7
Willis
Towers
Watson
29,593.00 2,122.76 8% 27,470.24 WLTW NASDAQ
• HR Management
Consulting
• Management
Training
1828
UK
8 Paycom 24,922.00 -1,435.73 -5% 26,357.73 PAYC NYSE
• HR Management
Software
1998
USA
9 Ceridian 15,800.00 -1,034.08 -6% 16,834.08 CDAY NYSE
• HR Management
Software
2013
USA
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PUBLISHERS Scan QR Code
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36

37. Market Capitalisation
RANK
COMPANY
NAME
LOGO
MARKET
CAPITALISATION AT
THE END OF 2021
(UNIT:MILLION DOLLARS)
MARKET
CAPITALISATION
GROWTH IN 2021
(UNIT:MILLION DOLLARS)
MARKET
CAPITALISATION
GROWTH
IN 2021
(%)
MARKET
CAPITALISATION
AT THE BEGINNING
OF 2021
(UNIT:MILLION DOLLARS)
SYMBOL
STOCK
EXCHANGE
MAIN BUSINESS
IN HR INDUSTRY
YEAR
FOUNDED COUNTRY
10
BOSSBOSS
Zhipin
14,265.00 -613.00 -4% 14,878.00 BZ NASDAQ
• Online
Recruitment
2014
CHN
11 randstad 13,066.24 926.48 8% 12,139.76
RAND.
AS
AEX
• Staffing
• Recruitment
Process
Outsourcing
• Talent & Executive
Search
1960
NL
12 paylocity 12,995.00 1,697.41 15% 11,297.59 PCTY NASDAQ
• HR Management
Software
1997
USA
13
Robert
Half
12,410.00 5,207.62 72% 7,202.38 RHI NYSE • Staffing 1948
USA
14 seek 8,959.77 1,129.60 14% 7,830.17
SEK.
AX
ASX
• Online
Recruitment
1997
AUS
15
THE
ADECCO
GROUP
8,583.85 -3,344.47 -28% 11,928.32
ADEN.
SW/
AHEXY
SWX/
NASDAQ
• Staffing
• Recruitment
Process
Outsourcing
• Talent & Executive
Search
1996
CHE
16 PERSOL 7,204.05 2,989.18 71% 4,214.87 2181 TSE • Staffing 2008
JPN
17 ASGN 6,429.00 1,959.44 44% 4,469.56 ASGN NYSE • Staffing 1985
USA
18 TriNet 6,274.00 841.68 15% 5,432.32 TNET NYSE
• Payroll
Outsourcing
• Benefits
Outsourcing
1988
USA
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PUBLISHERS Scan QR Code
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37

38. Market Capitalisation
RANK
COMPANY
NAME
LOGO
MARKET
CAPITALISATION AT
THE END OF 2021
(UNIT:MILLION DOLLARS)
MARKET
CAPITALISATION
GROWTH IN 2021
(UNIT:MILLION DOLLARS)
MARKET
CAPITALISATION
GROWTH
IN 2021
(%)
MARKET
CAPITALISATION
AT THE BEGINNING
OF 2021
(UNIT:MILLION DOLLARS)
SYMBOL
STOCK
EXCHANGE
MAIN BUSINESS
IN HR INDUSTRY
YEAR
FOUNDED COUNTRY
19 alight 5,836.00 974.00 20% 4,862.00 ALIT NYSE
• HR Management
Software
• Payroll
Outsourcing
2017
USA
20
AMN
Healthcare
Services
5,758.00 2,511.32 77% 3,246.68 AMN NYSE • Staffing 1985
USA
21 ManpowerGroup 5,279.00 31.76 1% 5,247.24 MAN NYSE
• Staffing
• Talent & Executive
Search
• Recruitment
Process
Outsourcing
1948
USA
22 Insperity 4,521.00 1,362.36 43% 3,158.64 NSP NYSE
• HR Management
Consulting
1986
USA
23 upwork 4,380.00 117.85 3% 4,262.15 UPWK NASDAQ • Gig Platform 1999
USA
24 fiverr 4,297.00 -2,632.25 -38% 6,929.25 FVRR NYSE • Gig Platform 2010
IL
25
KORN
FERRY
4,128.00 1,755.26 74% 2,372.74 KFY NYSE
• Talent & Executive
Search
• Recruitment
Process
Outsourcing
• HR Management
Consulting
• Talent Selectionig
Platform
1969
USA
26 Cornerstone 3,840.00 962.55 33% 2,877.45 CSOD NASDAQ
• HR Management
Software
1999
USA
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PUBLISHERS Scan QR Code
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38

39. Market Capitalisation
RANK
COMPANY
NAME
LOGO
MARKET
CAPITALISATION AT
THE END OF 2021
(UNIT:MILLION DOLLARS)
MARKET
CAPITALISATION
GROWTH IN 2021
(UNIT:MILLION DOLLARS)
MARKET
CAPITALISATION
GROWTH
IN 2021
(%)
MARKET
CAPITALISATION
AT THE BEGINNING
OF 2021
(UNIT:MILLION DOLLARS)
SYMBOL
STOCK
EXCHANGE
MAIN BUSINESS
IN HR INDUSTRY
YEAR
FOUNDED COUNTRY
27
TechnoPro
Holdings
3,447.97 268.34 15% 3,009.21 6028 TSE • Staffing 2006
JPN
28 coursera 3,436.00 -2,426.00 -41% 5,862.00 COUR NYSE
• Management
Training
2012
USA
29 HAYS 3,361.17 57.91 2% 3,303.26 HAS.L LSE
• Talent & Executive
Search
1968
UK
30 51job 3,300.00 -1,471.83 -31% 4,771.83 JOBS NASDAQ
• Online
Recruitment
• Management
Training
1998
CHN
31 ZipRecruiter 2,961.00 623.00 27% 2,338.00 ZIP NYSE
• Online
Recruitment
2010
USA
32 PageGroup 2,953.75 927.93 46% 2,025.82
PAGE.L/
3MI.F LSE/FWB
• Talent & Executive
Search
1976
UK
33
First
Advantage
2,911.00 -42.00 -1% 2,953.00 FA NASDAQ
• Background
Screening
2003
USA
34 HeadHunter 2,618.00 1,078.60 70% 1,539.40
HHR/
HHRU
NASDAQ/
MCSE
• Online
Recruitment
2000
RUS
35 dip 2,145.45 730.98 52% 1,414.47 2379 TSE
• Online
Recruitment
1997
JPN
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39

40. Market Capitalisation
RANK
COMPANY
NAME
LOGO
MARKET
CAPITALISATION AT
THE END OF 2021
(UNIT:MILLION DOLLARS)
MARKET
CAPITALISATION
GROWTH IN 2021
(UNIT:MILLION DOLLARS)
MARKET
CAPITALISATION
GROWTH
IN 2021
(%)
MARKET
CAPITALISATION
AT THE BEGINNING
OF 2021
(UNIT:MILLION DOLLARS)
SYMBOL
STOCK
EXCHANGE
MAIN BUSINESS
IN HR INDUSTRY
YEAR
FOUNDED COUNTRY
36 CBIZ 2,045.00 643.00 46% 1,402.00 CBZ NYSE
• Payroll
Outsourcing
• Benefits
Outsourcing
1987
USA
37
CAREER
INTERNATIONAL 1,892.21 358.69 23% 1,533.51
300662.
SZ SZSE
• Staffing
• Talent & Executive
Search
• Recruitment
Process
Outsourcing
2005
CHN
38
Out-
Sourcing
1,778.57 323.48 22% 1,455.09 2427 TSE • Staffing 1997
JPN
39 MEITEC 1,764.32 323.35 22% 1,440.97 9744 TSE • Staffing 1974
JPN
40 KFORCE 1,610.00 675.29 72% 934.71 KFRC NASDAQ • Staffing 1966
USA
41 UT Group 1,590.72 484.17 44% 1,106.55 2146 TSE
• Staffing
• Recruitment
Process
Outsourcing
1995
JPN
42 en Japan 1,472.32 116.61 9% 1,355.72 4849 TSE
• Online
Recruitment
• Management
Training
• HR Management
Consulting
2000
JPN
43 HireRight 1,270.00 24.17 2% 1,245.83 HRT NYSE
• Background
Screening
1990
USA
44 PASONA 1,253.64 459.21 58% 794.43 2168 TSE
• Staffing
• HR Management
Consulting
2007
JPN
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PUBLISHERS Scan QR Code
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40

41. Market Capitalisation
RANK
COMPANY
NAME
LOGO
MARKET
CAPITALISATION AT
THE END OF 2021
(UNIT:MILLION DOLLARS)
MARKET
CAPITALISATION
GROWTH IN 2021
(UNIT:MILLION DOLLARS)
MARKET
CAPITALISATION
GROWTH
IN 2021
(%)
MARKET
CAPITALISATION
AT THE BEGINNING
OF 2021
(UNIT:MILLION DOLLARS)
SYMBOL
STOCK
EXCHANGE
MAIN BUSINESS
IN HR INDUSTRY
YEAR
FOUNDED COUNTRY
45 Liepin 1,234.24 -34.68 -3% 1,268.91
6100.
HK
HKSE
• Online
Recruitment
2011
CHN
46 Skillsoft 1,220.00 -159.93 -12% 1,379.93 SKIL NYSE
• Management
Training
/
USA
47 Danel 1,171.01 264.71 29% 906.30 DANE TASE
• Online
Recruitment
1974
IL
48 Insource 1,080.34 427.13 65% 653.21 6200 TSE
• Management
Training
2002
JPN
49
Cross Country
Healthcare 1,055.00 718.01 213% 336.99 CCRN NASDAQ • Staffing 1986
USA
50 SYNERGIE 1,049.32 94.46 10% 954.86
SDG.
PA
PSE • Staffing 1969
FRA
51 trueblue 982.00 320.26 48% 661.74 TBI NYSE • Staffing 1989
USA
52 S-Pool 876.11 334.70 62% 541.41 2471 TSE • Staffing 1999
JPN
53 Sthree 864.38 318.43 58% 545.94 STEM.L LSE
• Talent & Executive
Search
• Recruitment
Process
Outsourcing
1986
UK
54
HEIDRICK &
STRUGGLES 854.00 278.76 48% 575.24 HSII NASDAQ
• Talent & Executive
Search
1953
USA
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PUBLISHERS Scan QR Code
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41

42. Market Capitalisation
RANK
COMPANY
NAME
LOGO
MARKET
CAPITALISATION AT
THE END OF 2021
(UNIT:MILLION DOLLARS)
MARKET
CAPITALISATION
GROWTH IN 2021
(UNIT:MILLION DOLLARS)
MARKET
CAPITALISATION
GROWTH
IN 2021
(%)
MARKET
CAPITALISATION
AT THE BEGINNING
OF 2021
(UNIT:MILLION DOLLARS)
SYMBOL
STOCK
EXCHANGE
MAIN BUSINESS
IN HR INDUSTRY
YEAR
FOUNDED COUNTRY
55
FULLCAST
Holdings
840.97 263.87 46% 577.10 4848 TSE • Staffing 1990
JPN
56 HealthStream 835.00 127.00 18% 708.00 HSTM NASDAQ • Staffing 1990
USA
57 Groupe Crit 825.73 -37.05 -4% 862.79
CEN.
PA
PSE • Staffing 1962
FRA
58
ROBERT
WALERS
GROUP
812.08 316.04 64% 496.03 RWA.L LSE
• Talent & Executive
Search
1985
UK
59
Jac
Recruitment 777.92 71.59 10% 706.32 2124 TSE
• Online
Recruitment
1988
JPN
60
Action
Education
740.02 220.73 43% 519.28
605098.
SH SSE
• Management
Training
2006
CHN
61 Brunel 681.41 222.11 48% 459.29
BRNL.
AS
AEX • Staffing 1975
NL
62
Franklin
Covey
662.00 346.09 110% 315.91 FC NYSE
• Management
Training
1980
USA
63 Kelly 660.00 -157.37 -19% 817.37
KELYA/
KELYB NASDAQ
• Talent & Executive
Search
• Staffing
1946
USA
64 HRnetGroup 605.99 188.24 45% 417.75
CHZ.
SI
SGX
• Talent & Executive
Search
1992
SG
65 RGP 593.00 180.67 44% 412.33 RGP NASDAQ
• HR Management
Consulting
1996
USA
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PUBLISHERS Scan QR Code
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42

43. Market Capitalisation
RANK
COMPANY
NAME
LOGO
MARKET
CAPITALISATION AT
THE END OF 2021
(UNIT:MILLION DOLLARS)
MARKET
CAPITALISATION
GROWTH IN 2021
(UNIT:MILLION DOLLARS)
MARKET
CAPITALISATION
GROWTH
IN 2021
(%)
MARKET
CAPITALISATION
AT THE BEGINNING
OF 2021
(UNIT:MILLION DOLLARS)
SYMBOL
STOCK
EXCHANGE
MAIN BUSINESS
IN HR INDUSTRY
YEAR
FOUNDED COUNTRY
66 WDB 565.74 51.88 10% 513.86 2475 TSE • Staffing 1985
JPN
67 BBSI 510.00 -17.50 -3% 527.50 BBSI NASDAQ
• HR Management
Consulting
1972
USA
68
GP
Strategies
360.00 154.15 75% 205.85 GPX NYSE
• Management
Training
1959
USA
69 Benefitfocus 351.00 -120.70 -26% 471.70 BNFT NASDAQ
• Benefits
Outsourcing
2000
USA
70
Impellam
Group
309.69 161.50 109% 148.19 IPEL.L LSE
• Talent & Executive
Search
• Staffing
2008
UK
71 DHI 309.00 191.35 163% 117.65 DHX NYSE
• Online
Recruitment
1990
USA
72
Nisso
Corporation 280.20 68.40 32% 211.80 6569 TSE • Staffing 1980
JPN
73 HireQuest 277.00 138.00 99% 139.00 HQI NASDAQ • Staffing 2002
USA
74 Wilmington 259.20 65.09 34% 194.11 WIL LSE
• Management
Training
1995
UK
75
ManpowerGroup
Greater China 243.17 -106.07 -30% 349.24
2180.
HK
HKSE
• Staffing
• Talent & Executive
Search
• Recruitment
Process
Outsourcing
1997
CHN
76
104
Corporation
211.02 21.59 11% 189.42
3130.
TW
TSEC
• Online
Recruitment
1996
CHN
77
Matching
Service
Japan
210.59 -34.17 -14% 244.76 6539 TSE
• Online
Recruitment
1990
JPN
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PUBLISHERS Scan QR Code
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43

44. Market Capitalisation
RANK
COMPANY
NAME
LOGO
MARKET
CAPITALISATION AT
THE END OF 2021
(UNIT:MILLION DOLLARS)
MARKET
CAPITALISATION
GROWTH IN 2021
(UNIT:MILLION DOLLARS)
MARKET
CAPITALISATION
GROWTH
IN 2021
(%)
MARKET
CAPITALISATION
AT THE BEGINNING
OF 2021
(UNIT:MILLION DOLLARS)
SYMBOL
STOCK
EXCHANGE
MAIN BUSINESS
IN HR INDUSTRY
YEAR
FOUNDED COUNTRY
78 freelancer 186.52 15.85 9% 170.67
FLN.
AX
ASX • Gig Platform 2009
AUS
79 Eezy 177.19 2.26 1% 174.93 EEZY HEL
• Online
Recruitment
• Staffing
1988
FIN
80
RENRUI HR
TECH
160.57 -347.71 -68% 508.28
6919.
HK
HKSE
• Staffing
• HR Management
Software
2010
CHN
81 BGSF 150.00 9.25 7% 140.75 BGSF NYSE
• Staffing
• Talent & Executive
Search
2007
USA
82 Asure 150.00 13.90 10% 136.10 ASUR NASDAQ
• HR Management
Software
1985
USA
83 Tigbur 147.15 106.49 262% 40.67 TIGBUR TASE • Staffing 1978
IL
84 Staffline 144.52 53.32 58% 91.20 STAF LSE
• Online
Recruitment
1986
UK
85
Human
Holdings
98.50 23.18 31% 75.32 2415 TSE
• Staffing
• Management
Training
1985
JPN
86 Artner 84.83 -3.50 -4% 88.33 2163 TSE • Staffing 1962
JPN
87
HUDSON
RPO
78.03 49.51 174% 28.52 HSON NASDAQ
• Talent & Executive
Search
• Recruitment
Process
Outsourcing
1999
USA
88 GEE Group 65.00 47.17 265% 17.83 JOB NYSE • Staffing 1893
USA
89 VOLT 64.47 25.56 66% 38.91 VOLT NYSE • Staffing 1950
USA
90 Quhuo 58.00 -337.90 -85% 395.90 QH NASDAQ • Staffing 2012
CHN
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PUBLISHERS Scan QR Code
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44

45. Market Capitalisation
RANK
COMPANY
NAME
LOGO
MARKET
CAPITALISATION AT
THE END OF 2021
(UNIT:MILLION DOLLARS)
MARKET
CAPITALISATION
GROWTH IN 2021
(UNIT:MILLION DOLLARS)
MARKET
CAPITALISATION
GROWTH
IN 2021
(%)
MARKET
CAPITALISATION
AT THE BEGINNING
OF 2021
(UNIT:MILLION DOLLARS)
SYMBOL
STOCK
EXCHANGE
MAIN BUSINESS
IN HR INDUSTRY
YEAR
FOUNDED COUNTRY
91 GATTACA 57.81 22.47 64% 35.34
GATC.
L
LSE
• Online
Recruitment 1984
UK
92 Empresaria 55.06 24.05 78% 31.00 EMR.L LSE
• Recruitment
Process
Outsourcing
1996
UK
93 Caldwell 41.51 18.27 79% 23.25
CWL/
CWLPF
TSX/U.S.
OTC
• Talent & Executive
Search
1970
CA
94 Hirayama 39.46 0.93 2% 38.52 7781 TSE 1955
JPN
95
Recruiter.
com
37.71 -18.70 -33% 56.41 RCRT NASDAQ
• Talent & Executive
Search
• Online
Recruitment
2015
USA
96
Mirai
Works
35.81 -22.77 -39% 58.58 6563 TSE
• Online
Recruitment
2012
JPN
97 Interworks 34.66 2.72 9% 31.94 6032 TSE 1991
JPN
98 Career 33.72 6.59 24% 27.13 6198 TSE • Online
Recruitment
2009
JPN
99 ShiftPixy 33.59 -37.89 -53% 71.48 PIXY NASDAQ • Gig Platform 2015
USA
100
Human
Associates
Holdings
27.25 9.00 49% 18.25 6575 TSE 1990
JPN
101 Cookbiz 25.61 1.80 8% 23.81 6558 TSE
• Online
Recruitment 2007
JPN
102 CRG Holdings 22.42 -1.90 -8% 24.32 7041 TSE 2013
JPN
COMPILERS AND
PUBLISHERS Scan QR Code
for More Information

46. Market Capitalisation
RANK
COMPANY
NAME
LOGO
MARKET
CAPITALISATION AT
THE END OF 2021
(UNIT:MILLION DOLLARS)
MARKET
CAPITALISATION
GROWTH IN 2021
(UNIT:MILLION DOLLARS)
MARKET
CAPITALISATION
GROWTH
IN 2021
(%)
MARKET
CAPITALISATION
AT THE BEGINNING
OF 2021
(UNIT:MILLION DOLLARS)
SYMBOL
STOCK
EXCHANGE
MAIN BUSINESS
IN HR INDUSTRY
YEAR
FOUNDED COUNTRY
103 JAIC 21.50 -0.47 -2% 21.98 7073 TSE
• Online
Recruitment
1991
JPN
104 workforce 21.48 4.85 29% 16.63
WKF.
JO
JSE
• Staffing
• Recruitment
Process
Outsourcing
• Management
Training
1972
ZA
105 DPA Group 19.39 -52.87 -73% 72.26 DPA AEX
• Online
Recruitment
1992
NL
106
Crie
Anabuki
19.14 7.61 66% 11.53 4336 TSE
• Online
Recruitment
1986
JPN
107 Alue 18.53 4.97 37% 13.57 7043 TSE
• Management
Training
2003
JPN
108
Staffing
360
Solutions
16.00 6.23 64% 9.77 STAF NASDAQ • Staffing 2009
USA
109 Ecomic 15.58 -0.76 -5% 16.35 3802 TSE
• Payroll
Outsourcing
1997
JPN
110
Prime
People
12.64 2.15 21% 10.48 PRP LSE
• Talent & Executive
Search
• Recruitment
Process
Outsourcing
1983
UK
111 Sportsfield 11.85 -3.61 -23% 15.45 7080 TSE
• Online
Recruitment
2010
JPN
112 Brilliant 11.65 0.34 3% 11.31
BRILL.
ST
STO • Staffing 2009
SE
113
Wilson
Learning
Worldwide
9.48 -8.30 -47% 17.78 9610 TSE
• Management
Training
1965
JPN
COMPILERS AND
PUBLISHERS Scan QR Code
for More Information
46

47. 47

48. Market Capitalisation
Growth in 2021
COMPILERS AND
PUBLISHERS Scan QR Code
for More Information
TM
01 02 03 04
05 06 07 08
09 10 11 12
13 14 15 16
17 18 19 20
Market Capitalisation At the End of 2021 : 98,520.00 million dollars
28,659.66 million dollars
Market Capitalisation
Growth in 2021
Market Capitalisation At the End of 2021 : 87,761.00 million dollars
27,743.02 million dollars
Market Capitalisation
Growth in 2021
Market Capitalisation At the End of 2021 : 103,905.00 million dollars
27,481.85 million dollars
Market Capitalisation
Growth in 2021
Market Capitalisation At the End of 2021 : 66,223.00 million dollars
17,371.16 million dollars
Market Capitalisation
Growth in 2021
Market Capitalisation At the End of 2021 : 49,243.00 million dollars
15,259.09 million dollars
Market Capitalisation
Growth in 2021
Market Capitalisation At the End of 2021 : 69,125.00 million dollars
10,957.99 million dollars
Market Capitalisation
Growth in 2021
Market Capitalisation At the End of 2021 : 12,410.00 million dollars
5,207.62 million dollars
Market Capitalisation
Growth in 2021
Market Capitalisation At the End of 2021 : 7,204.05 million dollars
2,989.18 million dollars
Market Capitalisation
Growth in 2021
Market Capitalisation At the End of 2021 : 5,758.00 million dollars
2,511.32 million dollars
Market Capitalisation
Growth in 2021
Market Capitalisation At the End of 2021 : 29,593.00 million dollars
2,122.76 million dollars
Market Capitalisation
Growth in 2021
Market Capitalisation At the End of 2021 : 6,429.00 million dollars
1,959.44 million dollars
Market Capitalisation
Growth in 2021
Market Capitalisation At the End of 2021 : 4,128.00 million dollars
1,755.26 million dollars
Market Capitalisation
Growth in 2021
Market Capitalisation At the End of 2021 : 12,995.00 million dollars
1,697.41 million dollars
Market Capitalisation
Growth in 2021
Market Capitalisation At the End of 2021 : 4,521.00 million dollars
1,362.36 million dollars
Market Capitalisation
Growth in 2021
Market Capitalisation At the End of 2021 : 8,959.77 million dollars
1,129.60 million dollars
Market Capitalisation
Growth in 2021
Market Capitalisation At the End of 2021 : 2,618.00 million dollars
1,078.60 million dollars
Market Capitalisation
Growth in 2021
Market Capitalisation At the End of 2021 : 5,836.00 million dollars
974.00 million dollars
Market Capitalisation
Growth in 2021
Market Capitalisation At the End of 2021 : 3,840.00 million dollars
962.55 million dollars
Market Capitalisation
Growth in 2021
Market Capitalisation At the End of 2021 : 2,953.75 million dollars
927.93 million dollars
Market Capitalisation
Growth in 2021
Market Capitalisation At the End of 2021 : 13,066.24 million dollars
926.48 million dollars
Market Capitalisation
Growth in 2021
48

49. Market Capitalisation
Growth in 2021
COMPILERS AND
PUBLISHERS Scan QR Code
for More Information
21 22 23 24
25 26 27 28
29 30 31 32
33 34 35 36
37 38 39 40
Market Capitalisation At the End of 2021 : 6,274.00 million dollars
841.68 million dollars
Market Capitalisation
Growth in 2021
Market Capitalisation At the End of 2021 : 2,145.45 million dollars
730.98 million dollars
Market Capitalisation
Growth in 2021
Market Capitalisation At the End of 2021 : 1,055.00 million dollars
718.01 million dollars
Market Capitalisation
Growth in 2021
Market Capitalisation At the End of 2021 : 1,610.00 million dollars
675.29 million dollars
Market Capitalisation
Growth in 2021
Market Capitalisation At the End of 2021 : 2,045.00 million dollars
643.00 million dollars
Market Capitalisation
Growth in 2021
Market Capitalisation At the End of 2021 : 2,961.00 million dollars
623.00 million dollars
Market Capitalisation
Growth in 2021
Market Capitalisation At the End of 2021 : 1,590.72 million dollars
484.17 million dollars
Market Capitalisation
Growth in 2021
Market Capitalisation At the End of 2021 : 1,253.64 million dollars
459.21 million dollars
Market Capitalisation
Growth in 2021
Market Capitalisation At the End of 2021 : 3,447.97 million dollars
438.76 million dollars
Market Capitalisation
Growth in 2021
Market Capitalisation At the End of 2021 : 1,080.34 million dollars
427.13 million dollars
Market Capitalisation
Growth in 2021
Market Capitalisation At the End of 2021 : 1,892.21 million dollars
358.69 million dollars
Market Capitalisation
Growth in 2021
Market Capitalisation At the End of 2021 : 662.00 million dollars
346.09 million dollars
Market Capitalisation
Growth in 2021
Market Capitalisation At the End of 2021 : 876.11 million dollars
334.70 million dollars
Market Capitalisation
Growth in 2021
Market Capitalisation At the End of 2021 : 1,778.57 million dollars
323.48 million dollars
Market Capitalisation
Growth in 2021
Market Capitalisation At the End of 2021 : 1,764.32 million dollars
323.35 million dollars
Market Capitalisation
Growth in 2021
Market Capitalisation At the End of 2021 : 982.00 million dollars
320.26 million dollars
Market Capitalisation
Growth in 2021
Market Capitalisation At the End of 2021 : 864.38 million dollars
318.43 million dollars
Market Capitalisation
Growth in 2021
Market Capitalisation At the End of 2021 : 812.08 million dollars
316.04 million dollars
Market Capitalisation
Growth in 2021
Market Capitalisation At the End of 2021 : 854.00 million dollars
278.76 million dollars
Market Capitalisation
Growth in 2021
Market Capitalisation At the End of 2021 : 1,171.01 million dollars
264.71 million dollars
Market Capitalisation
Growth in 2021
49

50. Market Capitalisation
Growth in 2021
COMPILERS AND
PUBLISHERS Scan QR Code
for More Information
41 42 43
45 46 47
49 50 51
53 54 55
57 58 59
Market Capitalisation At the End of 2021 : 840.97 million dollars
263.87 million dollars
Market Capitalisation
Growth in 2021
Market Capitalisation At the End of 2021 : 681.41 million dollars
222.11 million dollars
Market Capitalisation
Growth in 2021
Market Capitalisation At the End of 2021 : 740.02 million dollars
220.73 million dollars
Market Capitalisation
Growth in 2021
Market Capitalisation At the End of 2021 : 309.00 million dollars
191.35 million dollars
Market Capitalisation
Growth in 2021
Market Capitalisation At the End of 2021 : 605.99 million dollars
188.24 million dollars
Market Capitalisation
Growth in 2021
Market Capitalisation At the End of 2021 : 593.00 million dollars
180.67 million dollars
Market Capitalisation
Growth in 2021
Market Capitalisation At the End of 2021 : 309.69 million dollars
161.50 million dollars
Market Capitalisation
Growth in 2021
Market Capitalisation At the End of 2021 : 360.00 million dollars
154.15 million dollars
Market Capitalisation
Growth in 2021
Market Capitalisation At the End of 2021 : 277.00 million dollars
138.00 million dollars
Market Capitalisation
Growth in 2021
Market Capitalisation At the End of 2021 : 835.00 million dollars
127.00 million dollars
Market Capitalisation
Growth in 2021
Market Capitalisation At the End of 2021 : 4,380.00 million dollars
117.85 million dollars
Market Capitalisation
Growth in 2021
Market Capitalisation At the End of 2021 : 1,472.32 million dollars
116.61 million dollars
Market Capitalisation
Growth in 2021
Market Capitalisation At the End of 2021 : 147.15 million dollars
106.49 million dollars
Market Capitalisation
Growth in 2021
Market Capitalisation At the End of 2021 : 1,049.32 million dollars
94.46 million dollars
Market Capitalisation
Growth in 2021
Market Capitalisation At the End of 2021 : 777.92 million dollars
71.59 million dollars
Market Capitalisation
Growth in 2021
Market Capitalisation At the End of 2021 : 280.20 million dollars
68.40 million dollars
Market Capitalisation
Growth in 2021
Market Capitalisation At the End of 2021 : 259.20 million dollars
65.09 million dollars
Market Capitalisation
Growth in 2021
Market Capitalisation At the End of 2021 : 3,361.17 million dollars
57.91 million dollars
Market Capitalisation
Growth in 2021
Market Capitalisation At the End of 2021 : 144.52 million dollars
53.32 million dollars
Market Capitalisation
Growth in 2021
Market Capitalisation At the End of 2021 : 565.74 million dollars
51.88 million dollars
Market Capitalisation
Growth in 2021
44
48
52
56
60
50

51. Market Capitalisation
Growth in 2021
COMPILERS AND
PUBLISHERS Scan QR Code
for More Information
61 62 63
65 66 67
69 70 71
73 74 75
77 78 79
Market Capitalisation At the End of 2021 : 78.03 million dollars
49.51 million dollars
Market Capitalisation
Growth in 2021
Market Capitalisation At the End of 2021 : 65.00 million dollars
47.17 million dollars
Market Capitalisation
Growth in 2021
Market Capitalisation At the End of 2021 : 5,279.00 million dollars
31.76 million dollars
Market Capitalisation
Growth in 2021
Market Capitalisation At the End of 2021 : 64.47 million dollars
25.56 million dollars
Market Capitalisation
Growth in 2021
Market Capitalisation At the End of 2021 : 1,270.00 million dollars
24.17 million dollars
Market Capitalisation
Growth in 2021
Market Capitalisation At the End of 2021 : 55.06 million dollars
24.05 million dollars
Market Capitalisation
Growth in 2021
Market Capitalisation At the End of 2021 : 98.50 million dollars
23.18 million dollars
Market Capitalisation
Growth in 2021
Market Capitalisation At the End of 2021 : 57.81 million dollars
22.47 million dollars
Market Capitalisation
Growth in 2021
Market Capitalisation At the End of 2021 : 211.02 million dollars
21.59 million dollars
Market Capitalisation
Growth in 2021
Market Capitalisation At the End of 2021 : 41.51 million dollars
18.27 million dollars
Market Capitalisation
Growth in 2021
Market Capitalisation At the End of 2021 : 186.52 million dollars
15.85 million dollars
Market Capitalisation
Growth in 2021
Market Capitalisation At the End of 2021 : 150.00 million dollars
13.90 million dollars
Market Capitalisation
Growth in 2021
Market Capitalisation At the End of 2021 : 150.00 million dollars
9.25 million dollars
Market Capitalisation
Growth in 2021
Market Capitalisation At the End of 2021 : 27.25 million dollars
9.00 million dollars
Market Capitalisation
Growth in 2021
Market Capitalisation At the End of 2021 : 19.14 million dollars
7.61 million dollars
Market Capitalisation
Growth in 2021
Market Capitalisation At the End of 2021 : 33.72 million dollars
6.59 million dollars
Market Capitalisation
Growth in 2021
Market Capitalisation At the End of 2021 : 16.00 million dollars
6.23 million dollars
Market Capitalisation
Growth in 2021
Market Capitalisation At the End of 2021 : 18.53 million dollars
4.97 million dollars
Market Capitalisation
Growth in 2021
Market Capitalisation At the End of 2021 : 21.48 million dollars
4.85 million dollars
Market Capitalisation
Growth in 2021
Market Capitalisation At the End of 2021 : 34.66 million dollars
2.72 million dollars
Market Capitalisation
Growth in 2021
64
68
72
76
80
51

52. Market Capitalisation
Growth in 2021
COMPILERS AND
PUBLISHERS Scan QR Code
for More Information
81 82 83
85 86 87
89 90 91
93 94 95
97 98 99
Market Capitalisation At the End of 2021 : 177.19 million dollars
2.26 million dollars
Market Capitalisation
Growth in 2021
Market Capitalisation At the End of 2021 : 12.64 million dollars
2.15 million dollars
Market Capitalisation
Growth in 2021
Market Capitalisation At the End of 2021 : 25.61 million dollars
1.80 million dollars
Market Capitalisation
Growth in 2021
Market Capitalisation At the End of 2021 : 39.46 million dollars
0.93 million dollars
Market Capitalisation
Growth in 2021
Market Capitalisation At the End of 2021 : 11.65 million dollars
0.34 million dollars
Market Capitalisation
Growth in 2021
Market Capitalisation At the End of 2021 : 21.50 million dollars
-0.47 million dollars
Market Capitalisation
Growth in 2021
Market Capitalisation At the End of 2021 : 15.58 million dollars
-0.76 million dollars
Market Capitalisation
Growth in 2021
Market Capitalisation At the End of 2021 : 22.42 million dollars
-1.90 million dollars
Market Capitalisation
Growth in 2021
Market Capitalisation At the End of 2021 : 84.83 million dollars
-3.50 million dollars
Market Capitalisation
Growth in 2021
Market Capitalisation At the End of 2021 : 11.85 million dollars
-3.61 million dollars
Market Capitalisation
Growth in 2021
Market Capitalisation At the End of 2021 : 9.48 million dollars
-8.30 million dollars
Market Capitalisation
Growth in 2021
Market Capitalisation At the End of 2021 : 510.00 million dollars
-17.50 million dollars
Market Capitalisation
Growth in 2021
Market Capitalisation At the End of 2021 : 37.71 million dollars
-18.70 million dollars
Market Capitalisation
Growth in 2021
Market Capitalisation At the End of 2021 : 35.81 million dollars
-22.77 million dollars
Market Capitalisation
Growth in 2021
Market Capitalisation At the End of 2021 : 210.59 million dollars
-34.17 million dollars
Market Capitalisation
Growth in 2021
Market Capitalisation At the End of 2021 : 1,234.24 million dollars
-34.68 million dollars
Market Capitalisation
Growth in 2021
Market Capitalisation At the End of 2021 : 825.73 million dollars
-37.05 million dollars
Market Capitalisation
Growth in 2021
Market Capitalisation At the End of 2021 : 33.59 million dollars
-37.89 million dollars
Market Capitalisation
Growth in 2021
Market Capitalisation At the End of 2021 : 2,911.00 million dollars
-42.00 million dollars
Market Capitalisation
Growth in 2021
Market Capitalisation At the End of 2021 : 19.39 million dollars
-52.87 million dollars
Market Capitalisation
Growth in 2021
84
88
92
96
100
52

53. Market Capitalisation
Growth in 2021
COMPILERS AND
PUBLISHERS Scan QR Code
for More Information
101 102 103
105 106 107
109 110 111
113
Market Capitalisation At the End of 2021 : 243.17 million dollars
-106.07 million dollars
Market Capitalisation
Growth in 2021
Market Capitalisation At the End of 2021 : 351.00 million dollars
-120.70 million dollars
Market Capitalisation
Growth in 2021
Market Capitalisation At the End of 2021 : 660.00 million dollars
-157.37 million dollars
Market Capitalisation
Growth in 2021
Market Capitalisation At the End of 2021 : 1,220.00 million dollars
-159.93 million dollars
Market Capitalisation
Growth in 2021
Market Capitalisation At the End of 2021 : 58.00 million dollars
-337.90 million dollars
Market Capitalisation
Growth in 2021
Market Capitalisation At the End of 2021 : 160.57 million dollars
-347.71 million dollars
Market Capitalisation
Growth in 2021
Market Capitalisation At the End of 2021 : 14,265.00 million dollars
-613.00 million dollars
Market Capitalisation
Growth in 2021
Market Capitalisation At the End of 2021 : 15,800.00 million dollars
-1,034.08 million dollars
Market Capitalisation
Growth in 2021
Market Capitalisation At the End of 2021 : 24,922.00 million dollars
-1,435.73 million dollars
Market Capitalisation
Growth in 2021
Market Capitalisation At the End of 2021 : 3,300.00 million dollars
-1,471.83 million dollars
Market Capitalisation
Growth in 2021
Market Capitalisation At the End of 2021 : 3,436.00 million dollars
-2,426.00 million dollars
Market Capitalisation
Growth in 2021
Market Capitalisation At the End of 2021 : 4,297.00 million dollars
-2,632.25 million dollars
Market Capitalisation
Growth in 2021
Market Capitalisation At the End of 2021 : 8,583.85 million dollars
-3,344.47 million dollars
Market Capitalisation
Growth in 2021
104
108
112
53

54. Market Capitalisation
Growth in 2021
COMPILERS AND
PUBLISHERS Scan QR Code
for More Information
RANK
COMPANY
NAME
LOGO
MARKET
CAPITALISATION
GROWTH IN 2021
(UNIT:MILLION DOLLARS)
MARKET
CAPITALISATION AT
THE END OF 2021
(UNIT:MILLION DOLLARS)
MARKET
CAPITALISATION
GROWTH IN
2021
(%)
MARKET
CAPITALISATION
AT THE BEGINNING
OF 2021
(UNIT:MILLION DOLLARS)
SYMBOL
STOCK
EXCHANGE
MAIN BUSINESS
IN HR INDUSTRY
YEAR
FOUNDED COUNTRY
1
RECRUIT
28,659.66 98,520.00 41% 69,860.34 6098 TSE
• Talent & Executive
Search
• Recruitment
Process
Outsourcing
• Online
Recruitment
1960
JPN
2 Marsh &
McLennan
27,743.02 87,761.00 46% 60,017.98 MMC NYSE
• HR Management
Consulting
1871
USA
3
ADP
27,481.85 103,905.00 36% 76,423.15 ADP NASDAQ
• Payroll
Outsourcing
• HR Management
Software
1949
USA
4
AON
17,371.16 66,223.00 36% 48,851.84 AON NYSE
• HR Management
Consulting
• Management
Training
1982
UK
5 PAYCHEX 15,259.09 49,243.00 45% 33,983.91 PAYX NASDAQ
• Payroll
Outsourcing
• HR Management
Software
1971
USA
6 workday 10,957.99 69,125.00 19% 58,167.01 WDAY NASDAQ
• HR Management
Software
2005
USA
7 Robert
Half
5,207.62 12,410.00 72% 7,202.38 RHI NYSE • Staffing 1948
USA
8 PERSOL 2,989.18 7,204.05 71% 4,214.87 2181 TSE • Staffing 2008
JPN
9
AMN
Healthcare
Services
2,511.32 5,758.00 77% 3,246.68 AMN NYSE • Staffing 1985
USA
10
Willis
Towers
Watson
2,122.76 29,593.00 8% 27,470.24 WLTW NASDAQ
• HR Management
Consulting
• Management
Training
1828
UK
54

55. Market Capitalisation
Growth in 2021
COMPILERS AND
PUBLISHERS Scan QR Code
for More Information
RANK
COMPANY
NAME
LOGO
MARKET
CAPITALISATION
GROWTH IN 2021
(UNIT:MILLION DOLLARS)
MARKET
CAPITALISATION AT
THE END OF 2021
(UNIT:MILLION DOLLARS)
MARKET
CAPITALISATION
GROWTH IN
2021
(%)
MARKET
CAPITALISATION
AT THE BEGINNING
OF 2021
(UNIT:MILLION DOLLARS)
SYMBOL
STOCK
EXCHANGE
MAIN BUSINESS
IN HR INDUSTRY
YEAR
FOUNDED COUNTRY
11 ASGN 1,959.44 6,429.00 44% 4,469.56 ASGN NYSE • Staffing 1985
USA
12 KORN
FERRY
1,755.26 4,128.00 74% 2,372.74 KFY NYSE
• Talent & Executive
Search
• Recruitment
Process
Outsourcing
• HR Management
Consulting
• Talent Selection
1969
USA
13 paylocity 1,697.41 12,995.00 15% 11,297.59 PCTY NASDAQ
• HR Management
Software
1997
USA
14 Insperity 1,362.36 4,521.00 43% 3,158.64 NSP NYSE
• HR Management
Consulting
1986
USA
15 seek 1,129.60 8,959.77 14% 7,830.17
SEK.
AX
ASX
• Online
Recruitment
1997
AUS
16 HeadHunter 1,078.60 2,618.00 70% 1,539.40
HHR/
HHRU
NASDAQ/
MCSE
• Online
Recruitment
2000
RUS
17 alight 974.00 5,836.00 20% 4,862.00 ALIT NYSE
• HR Management
Software
• Payroll
Outsourcing
2017
USA
18 Cornerstone 962.55 3,840.00 33% 2,877.45 CSOD NASDAQ
• HR Management
Software
1999
USA
19 PageGroup 927.93 2,953.75 46% 2,025.82
PAGE.
L/
3MI.F
LSE/FWB
• Talent & Executive
Search
1976
UK
20
randstad
926.48 13,066.24 8% 12,139.76
RAND.
AS
AEX
• Staffing
• Recruitment
Process
Outsourcing
• Talent & Executive
Search
1960
NL
55

56. Market Capitalisation
Growth in 2021
COMPILERS AND
PUBLISHERS Scan QR Code
for More Information
RANK
COMPANY
NAME
LOGO
MARKET
CAPITALISATION
GROWTH IN 2021
(UNIT:MILLION DOLLARS)
MARKET
CAPITALISATION AT
THE END OF 2021
(UNIT:MILLION DOLLARS)
MARKET
CAPITALISATION
GROWTH IN
2021
(%)
MARKET
CAPITALISATION
AT THE BEGINNING
OF 2021
(UNIT:MILLION DOLLARS)
SYMBOL
STOCK
EXCHANGE
MAIN BUSINESS
IN HR INDUSTRY
YEAR
FOUNDED COUNTRY
21 TriNet 841.68 6,274.00 15% 5,432.32 TNET NYSE
• Payroll
Outsourcing
• Benefits
Outsourcing
1988
USA
22 dip 730.98 2,145.45 52% 1,414.47 2379 TSE
• Online
Recruitment
1997
JPN
23
Cross Country
Healthcare 718.01 1,055.00 213% 336.99 CCRN NASDAQ • Staffing 1986
USA
24 KFORCE 675.29 1,610.00 72% 934.71 KFRC NASDAQ • Staffing 1966
USA
25 CBIZ 643.00 2,045.00 46% 1,402.00 CBZ NYSE
• Payroll
Outsourcing
• Benefits
Outsourcing
1987
USA
26 ZipRecruiter 623.00 2,961.00 27% 2,338.00 ZIP NYSE
• Online
Recruitment
2010
USA
27 UT Group 484.17 1,590.72 44% 1,106.55 2146 TSE
• Staffing
• Recruitment
Process
Outsourcing
1995
JPN
28
PASONA
459.21 1,253.64 58% 794.43 2168 TSE
• Staffing
• HR Management
Consulting
2007
JPN
29
TechnoPro
Holdings
438.76 3,447.97 15% 3,009.21 6028 TSE • Staffing 2006
JPN
30 Insource 427.13 1,080.34 65% 653.21 6200 TSE
• Management
Training
2002
JPN
56

57. Market Capitalisation
Growth in 2021
COMPILERS AND
PUBLISHERS Scan QR Code
for More Information
RANK
COMPANY
NAME
LOGO
MARKET
CAPITALISATION
GROWTH IN 2021
(UNIT:MILLION DOLLARS)
MARKET
CAPITALISATION AT
THE END OF 2021
(UNIT:MILLION DOLLARS)
MARKET
CAPITALISATION
GROWTH IN
2021
(%)
MARKET
CAPITALISATION
AT THE BEGINNING
OF 2021
(UNIT:MILLION DOLLARS)
SYMBOL
STOCK
EXCHANGE
MAIN BUSINESS
IN HR INDUSTRY
YEAR
FOUNDED COUNTRY
31
CAREER
INTERNATIONAL 358.69 1,892.21 23% 1,533.51
300662.
SZ
SZSE
• Staffing
• Talent & Executive
Search
• Recruitment
Process
Outsourcing
2005
CHN
32 Franklin
Covey
346.09 662.00 110% 315.91 FC NYSE
• Management
Training
1980
USA
33 S-Pool 334.70 876.11 62% 541.41 2471 TSE • Staffing 1999
JPN
34
Out-
Sourcing
323.48 1,778.57 22% 1,455.09 2427 TSE • Staffing 1997
JPN
35
MEITEC
323.35 1,764.32 22% 1,440.97 9744 TSE • Staffing 1974
JPN
36 trueblue 320.26 982.00 48% 661.74 TBI NYSE • Staffing 1989
USA
37 Sthree 318.43 864.38 58% 545.94
STEM.
L
LSE
• Talent & Executive
Search
• Recruitment
Process
Outsourcing
1986
UK
38
ROBERT
WALERS
GROUP
316.04 812.08 64% 496.03 RWA.L LSE
• Talent & Executive
Search
1985
UK
39
HEIDRICK &
STRUGGLES 278.76 854.00 48% 575.24 HSII NASDAQ
• Talent & Executive
Search
1953
USA
40 Danel 264.71 1,171.01 29% 906.30 DANE TASE
• Online
Recruitment
1974
IL
57

58. Market Capitalisation
Growth in 2021
COMPILERS AND
PUBLISHERS Scan QR Code
for More Information
RANK
COMPANY
NAME
LOGO
MARKET
CAPITALISATION
GROWTH IN 2021
(UNIT:MILLION DOLLARS)
MARKET
CAPITALISATION AT
THE END OF 2021
(UNIT:MILLION DOLLARS)
MARKET
CAPITALISATION
GROWTH IN
2021
(%)
MARKET
CAPITALISATION
AT THE BEGINNING
OF 2021
(UNIT:MILLION DOLLARS)
SYMBOL
STOCK
EXCHANGE
MAIN BUSINESS
IN HR INDUSTRY
YEAR
FOUNDED COUNTRY
41
FULLCAST
Holdings
263.87 840.97 46% 577.10 4848 TSE • Staffing 1990
JPN
42 Brunel 222.11 681.41 48% 459.29
BRNL.
AS
AEX • Staffing 1975
NL
43 Action
Education
220.73 740.02 43% 519.28
605098.
SH
SSE
• Management
Training
2006
CHN
44 DHI 191.35 309.00 163% 117.65 DHX NYSE
• Online
Recruitment
1990
USA
45 HRnetGroup 188.24 605.99 45% 417.75
CHZ.
SI
SGX
• Talent & Executive
Search
1992
SG
46
RGP
180.67 593.00 44% 412.33 RGP NASDAQ
• HR Management
Consulting
1996
USA
47
Impellam
Group
161.50 309.69 109% 148.19 IPEL.L LSE
• Talent & Executive
Search
• Staffing
2008
UK
48
GP
Strategies
154.15 360.00 75% 205.85 GPX NYSE
• Management
Training
1959
USA
49 HireQuest 138.00 277.00 99% 139.00 HQI NASDAQ • Staffing 2002
USA
50 HealthStream 127.00 835.00 18% 708.00 HSTM NASDAQ • Staffing 1990
USA
51 upwork 117.85 4,380.00 3% 4,262.15 UPWK NASDAQ • Gig Platform 1999
USA
52 en Japan 116.61 1,472.32 9% 1,355.72 4849 TSE
• Online
Recruitment
• Management
Training
• HR Management
Consulting
2000
JPN
53 Tigbur 106.49 147.15 262% 40.67 TIGBUR TASE • Staffing 1978
IL
58

59. Market Capitalisation
Growth in 2021
COMPILERS AND
PUBLISHERS Scan QR Code
for More Information
RANK
COMPANY
NAME
LOGO
MARKET
CAPITALISATION
GROWTH IN 2021
(UNIT:MILLION DOLLARS)
MARKET
CAPITALISATION AT
THE END OF 2021
(UNIT:MILLION DOLLARS)
MARKET
CAPITALISATION
GROWTH IN
2021
(%)
MARKET
CAPITALISATION
AT THE BEGINNING
OF 2021
(UNIT:MILLION DOLLARS)
SYMBOL
STOCK
EXCHANGE
MAIN BUSINESS
IN HR INDUSTRY
YEAR
FOUNDED COUNTRY
54 SYNERGIE 94.46 1,049.32 10% 954.86
SDG.
PA
PSE • Staffing 1969
FRA
55
Jac
Recruitment
71.59 777.92 10% 706.32 2124 TSE
• Online
Recruitment
1988
JPN
56
Nisso
Corporation
68.40 280.20 32% 211.80 6569 TSE • Staffing 1980
JPN
57 Wilmington 65.09 259.20 34% 194.11 WIL LSE
• Management
Training
1995
UK
58
HAYS
57.91 3,361.17 2% 3,303.26 HAS.L LSE
• Talent & Executive
Search
1968
UK
59 Staffline 53.32 144.52 58% 91.20 STAF LSE
• Online
Recruitment
1986
UK
60 WDB 51.88 565.74 10% 513.86 2475 TSE • Staffing 1985
JPN
61
HUDSON
RPO
49.51 78.03 174% 28.52 HSON NASDAQ
• Talent & Executive
Search
• Recruitment
Process
Outsourcing
1999
USA
62 GEE Group 47.17 65.00 265% 17.83 JOB NYSE • Staffing 1893
USA
63 ManpowerGroup 31.76 5,279.00 1% 5,247.24 MAN NYSE
• Staffing
• Talent & Executive
Search
• Recruitment
Process
Outsourcing
1948
USA
64 VOLT 25.56 64.47 66% 38.91 VOLT NYSE • Staffing 1950
USA
59

60. Market Capitalisation
Growth in 2021
COMPILERS AND
PUBLISHERS Scan QR Code
for More Information
RANK
COMPANY
NAME
LOGO
MARKET
CAPITALISATION
GROWTH IN 2021
(UNIT:MILLION DOLLARS)
MARKET
CAPITALISATION AT
THE END OF 2021
(UNIT:MILLION DOLLARS)
MARKET
CAPITALISATION
GROWTH IN
2021
(%)
MARKET
CAPITALISATION
AT THE BEGINNING
OF 2021
(UNIT:MILLION DOLLARS)
SYMBOL
STOCK
EXCHANGE
MAIN BUSINESS
IN HR INDUSTRY
YEAR
FOUNDED COUNTRY
65 HireRight 24.17 1,270.00 2% 1,245.83 HRT NYSE
• Background
Screening
1990
USA
66 Empresaria 24.05 55.06 78% 31.00 EMR.L LSE
• Staffing
• Recruitment
Process
Outsourcing
1996
UK
67
Human
Holdings
23.18 98.50 31% 75.32 2415 TSE
• Staffing
• Management
Training
1985
JPN
68 GATTACA 22.47 57.81 64% 35.34
GATC.
L
LSE
• Online
Recruitment
• Staffing
1984
UK
69
104
Corporation
21.59 211.02 11% 189.42
3130.
TW
TSEC
• Online
Recruitment
1996
CHN
70 Caldwell 18.27 41.51 79% 23.25
CWL/
CWLPF
TSX/U.S.
OTC
• Talent & Executive
Search
1970
CA
71 freelancer 15.85 186.52 9% 170.67
FLN.
AX
ASX • Gig Platform 2009
AUS
72 Asure 13.90 150.00 10% 136.10 ASUR NASDAQ
• HR Management
Software
1985
USA
73 BGSF 9.25 150.00 7% 140.75 BGSF NYSE
• Staffing
• Talent & Executive
Search
2007
USA
74
Human
Associates
Holdings
9.00 27.25 49% 18.25 6575 TSE • Staffing 1990
JPN
75
Crie
Anabuki
7.61 19.14 66% 11.53 4336 TSE
• Online
Recruitment
1986
JPN
76 Career 6.59 33.72 24% 27.13 6198 TSE
• Staffing
• Online
Recruitment
2009
JPN
60

61. Market Capitalisation
Growth in 2021
COMPILERS AND
PUBLISHERS Scan QR Code
for More Information
RANK
COMPANY
NAME
LOGO
MARKET
CAPITALISATION
GROWTH IN 2021
(UNIT:MILLION DOLLARS)
MARKET
CAPITALISATION AT
THE END OF 2021
(UNIT:MILLION DOLLARS)
MARKET
CAPITALISATION
GROWTH IN
2021
(%)
MARKET
CAPITALISATION
AT THE BEGINNING
OF 2021
(UNIT:MILLION DOLLARS)
SYMBOL
STOCK
EXCHANGE
MAIN BUSINESS
IN HR INDUSTRY
YEAR
FOUNDED COUNTRY
77
Staffing
360
Solutions
6.23 16.00 64% 9.77 STAF NASDAQ • Staffing 2009
USA
78 Alue 4.97 18.53 37% 13.57 7043 TSE
• Management
Training
2003
JPN
79 workforce 4.85 21.48 29% 16.63
WKF.
JO
JSE
• Staffing
• Recruitment
Process
Outsourcing
• Management
Training
1972
ZA
80 Interworks 2.72 34.66 9% 31.94 6032 TSE • Staffing 1991
JPN
81 Eezy 2.26 177.19 1% 174.93 EEZY HEL
• Online
Recruitment
• Staffing
1988
FIN
82
Prime
People
2.15 12.64 21% 10.48 PRP LSE
• Talent & Executive
Search
• Recruitment
Process
Outsourcing
1983
UK
83 Cookbiz 1.80 25.61 8% 23.81 6558 TSE
• Online
Recruitment
• Staffing
2007
JPN
84 Hirayama 0.93 39.46 2% 38.52 7781 TSE • Staffing 1955
JPN
85 Brilliant 0.34 11.65 3% 11.31
BRILL.
ST
STO • Staffing 2009
SE
86 JAIC -0.47 21.50 -2% 21.98 7073 TSE
• Online
Recruitment
1991
JPN
87 Ecomic -0.76 15.58 -5% 16.35 3802 TSE
• Payroll
Outsourcing
1997
JPN
61

62. Market Capitalisation
Growth in 2021
COMPILERS AND
PUBLISHERS Scan QR Code
for More Information
RANK
COMPANY
NAME
LOGO
MARKET
CAPITALISATION
GROWTH IN 2021
(UNIT:MILLION DOLLARS)
MARKET
CAPITALISATION AT
THE END OF 2021
(UNIT:MILLION DOLLARS)
MARKET
CAPITALISATION
GROWTH IN
2021
(%)
MARKET
CAPITALISATION
AT THE BEGINNING
OF 2021
(UNIT:MILLION DOLLARS)
SYMBOL
STOCK
EXCHANGE
MAIN BUSINESS
IN HR INDUSTRY
YEAR
FOUNDED COUNTRY
88
CRG
Holdings
-1.90 22.42 -8% 24.32 7041 TSE • Staffing 2013
JPN
89 Artner -3.50 84.83 -4% 88.33 2163 TSE • Staffing 1962
JPN
90 Sportsfield -3.61 11.85 -23% 15.45 7080 TSE
• Online
Recruitment
2010
JPN
91
Wilson
Learning
Worldwide
-8.30 9.48 -47% 17.78 9610 TSE
• Management
Training
1965
JPN
92 BBSI -17.50 510.00 -3% 527.50 BBSI NASDAQ
• HR Management
Consulting
1972
USA
93
Recruiter.
com
-18.70 37.71 -33% 56.41 RCRT NASDAQ
• Staffing
• Talent & Executive
Search
• Online
Recruitment
2015
USA
94
Mirai
Works
-22.77 35.81 -39% 58.58 6563 TSE
• Online
Recruitment
2012
JPN
95
Matching
Service
Japan
-34.17 210.59 -14% 244.76 6539 TSE
• Online
Recruitment
1990
JPN
96
Liepin
-34.68 1,234.24 -3% 1,268.91
6100.
HK
HKSE
• Online
Recruitment
2011
CHN
97
Groupe
Crit
-37.05 825.73 -4% 862.79
CEN.
PA
PSE • Staffing 1962
FRA
98 ShiftPixy -37.89 33.59 -53% 71.48 PIXY NASDAQ • Gig Platform 2015
USA
62

63. Market Capitalisation
Growth in 2021
COMPILERS AND
PUBLISHERS Scan QR Code
for More Information
RANK
COMPANY
NAME
LOGO
MARKET
CAPITALISATION
GROWTH IN 2021
(UNIT:MILLION DOLLARS)
MARKET
CAPITALISATION AT
THE END OF 2021
(UNIT:MILLION DOLLARS)
MARKET
CAPITALISATION
GROWTH IN
2021
(%)
MARKET
CAPITALISATION
AT THE BEGINNING
OF 2021
(UNIT:MILLION DOLLARS)
SYMBOL
STOCK
EXCHANGE
MAIN BUSINESS
IN HR INDUSTRY
YEAR
FOUNDED COUNTRY
99
First
Advantage
-42.00 2,911.00 -1% 2,953.00 FA NASDAQ
• Background
Screening
2003
USA
100 DPA Group -52.87 19.39 -73% 72.26 DPA AEX
• Online
Recruitment
1992
NL
101
ManpowerGroup
Greater China -106.07 243.17 -30% 349.24
2180.
HK
HKSE
• Staffing
• Talent & Executive
Search
• Recruitment
Process
Outsourcing
1997
CHN
102 Benefitfocus -120.70 351.00 -26% 471.70 BNFT NASDAQ
• Benefits
Outsourcing
2000
USA
103 Kelly -157.37 660.00 -19% 817.37
KELYA/
KELYB
NASDAQ
• Talent & Executive
Search
• Staffing
1946
USA
104 Skillsoft -159.93 1,220.00 -12% 1,379.93 SKIL NYSE
• Management
Training
/
USA
105 Quhuo -337.90 58.00 -85% 395.90 QH NASDAQ • Staffing 2012
CHN
106
RENRUI
HR TECH
-347.71 160.57 -68% 508.28
6919.
HK
HKSE
• Staffing
• HR Management
Software
2010
CHN
107
BOSS
BOSS
Zhipin
-613.00 14,265.00 -4% 14,878.00 BZ NASDAQ
• Online
Recruitment
2014
CHN
108 Ceridian -1,034.08 15,800.00 -6% 16,834.08 CDAY NYSE
• HR Management
Software
2013
USA
109 Paycom -1,435.73 24,922.00 -5% 26,357.73 PAYC NYSE
• HR Management
Software
1998
USA
63

64. Market Capitalisation
Growth in 2021
COMPILERS AND
PUBLISHERS Scan QR Code
for More Information
RANK
COMPANY
NAME
LOGO
MARKET
CAPITALISATION
GROWTH IN 2021
(UNIT:MILLION DOLLARS)
MARKET
CAPITALISATION AT
THE END OF 2021
(UNIT:MILLION DOLLARS)
MARKET
CAPITALISATION
GROWTH IN
2021
(%)
MARKET
CAPITALISATION
AT THE BEGINNING
OF 2021
(UNIT:MILLION DOLLARS)
SYMBOL
STOCK
EXCHANGE
MAIN BUSINESS
IN HR INDUSTRY
YEAR
FOUNDED COUNTRY
110
51job
-1,471.83 3,300.00 -31% 4,771.83 JOBS NASDAQ
• Online
Recruitment
• Management
Training
1998
CHN
111 coursera -2,426.00 3,436.00 -41% 5,862.00 COUR NYSE
• Management
Training
2012
USA
112 fiverr -2,632.25 4,297.00 -38% 6,929.25 FVRR NYSE • Gig Platform 2010
IL
113
THE
ADECCO
GROUP
-3,344.47 8,583.85 -28% 11,928.32
ADEN.
SW/
AHEXY
SWX/
NASDAQ
• Staffing
• Recruitment
Process
Outsourcing
• Talent & Executive
Search
1996
CHE
64

65. 65