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Subversion and 
Rebirth 
——On the global human resources 
services market of 2013-2014 
2013, A Year of Slow Recovery of W...
Development of the Industry: Subversive and Creator 
Among the top 10 on the list of "2014 HRoot Global 50 Human Resources...
Employee dispatching/rental/placement services: Giants gathered 
According to the analysis of the Staffing Industry Analys...
giants was not slow. Until February 28, 2014, the quarterly revenue of Oracle cloud business nearly achieved $300 million....
corporation of JobsDB. 
Though traditional recruitment pattern represented by the Monster (Job Board) in the United States...
growth". From 2013 to the first half of 2014, as the competition 
of human resources in the industry intensified, the merg...
the long-term steady operation ability of CIIC against the uncertain 
economic environment. 
7 
Secondly, operating margin...
Table4 Financial ratios averages by industry in the “2014 HRoot Global 50 HR Service Providers” 
software Online recruitme...
HRoot Global 50 Human Resources Service Providers 2014 
9
HRoot Global 50 Human Resources Service Providers 2014 
10 
1 
2 
3 
4 
5 
6 
7 
8 
9 
10 
11 
12 
13 
14 
15 
16 
17 
18 ...
HRoot Global 50 Human Resources Service Providers 2014 
11 
26 
27 
28 
29 
30 
31 
32 
33 
34 
35 
36 
37 
38 
39 
40 
41...
HRoot Global 50 Human Resources Service Providers 2014,Sub-Rank Companies 
12 
51 
52 
53 
54 
55 
56 
57 
58 
59 
60 
61 ...
HRoot Global 50 Human Resources Service Providers 2014,Sub-Rank Companies 
5、The slash mark, or “/”, means no data. 
6、The...
HRoot Global 50 Human Resources Service Providers 2014,Sub-Rank Companies 
(7)ROE, or Return on shareholder’s equity, is t...
HRoot2014全球人力资源服务机构50强 
HRoot Global 50 Human Resources Service Providers 2014 (by Country) 
15
HRoot Global 50 Human Resources Service Providers 2014 (by Country) 
16 
3 
5 
8 
9 
10 
13 
15 
16 
20 
21 
23 
25 
27 
2...
HRoot Global 50 Human Resources Service Providers 2014 (by Country) 
17 
7 
11 
19 
22 
26 
29 
31 
37 
44 
45 
6 
10 
18 ...
HRoot Global 50 Human Resources Service Providers 2014 (by Country) 
Ranking 
higher/ 
lower 
Rank 
2014 
Rank 
2013 
Comp...
19
HRoot Global 50 Human Resources Service Providers 2014 (by Industry) 
20 
7 
18 
22 
25 
26 
28 
29 
31 
35 
36 
37 
41 
4...
HRoot Global 50 Human Resources Service Providers 2014 (by Industry) 
21 
1 
2 
3 
4 
8 
9 
14 
17 
20 
21 
27 
33 
1 
2 
...
HRoot Global 50 Human Resources Service Providers 2014 (by Industry) 
Ranking 
higher/ 
lower 
Rank 
2014 
Rank 
2013 
Com...
23
HRoot Global 50 Human Resources Service Providers 2014( R a n k e d b y A n n u a l ) 
24 
42 
23 
38 
40 
21 
32 
33 
6 
...
HRoot Global 50 Human Resources Service Providers 2014( R a n k e d b y A n n u a l ) 
25 
15 
31 
11 
41 
9 
49 
10 
22 
...
HRoot2014全球人力资源服务机构50强 
HRoot Global 50 Human Resources Service Providers 2014( R a n k e d b y ) 
26 
Operating Margin
HRoot Global 50 Human Resources Service Providers 2014( R a n k e d b y ) 
27 
Operating Margin 
38 
15 
47 
5 
50 
13 
49...
HRoot Global 50 Human Resources Service Providers 2014( R a n k e d b y ) 
28 
Linkedin 
Staffline Group 
Empresaria Group...
HRoot2014全球人力资源服务机构50强 
HRoot Global 50 Human Resources Service Providers 2014( R a n k e d b y ) 
29 
Revenue per Capital
HRoot Global 50 Human Resources Service Providers 2014( R a n k e d b y ) 
30 
6 
26 
27 
33 
16 
18 
1 
3 
37 
2 
45 
7 
...
31 
17 
9 
41 
19 
22 
23 
28 
54 
30 
50 
13 
61 
43 
32 
10 
34 
39 
5 
15 
51 
42 
56 
58 
57 
35 
15 
9 
37 
18 
20 
2...
HRoot Global 50 Human Resources Service Providers 2014( R a n k e d b y ) 
32 
38 
47 
60 
53 
40 
39 
46 
56 
/ 
40 
seek...
HRoot2014全球人力资源服务机构50强 
HRoot Global 50 Human Resources Service Providers 2014( R a n k e d b y O p e ra t in g ) 
33 
Pro...
HRoot Global 50 Human Resources Service Providers 2014( R a n k e d b y O p e ra t in g ) 
34 
Profit per Capital 
15 
21 ...
HRoot Global 50 Human Resources Service Providers 2014( R a n k e d b y O p e ra t in g ) 
35 
Profit per Capital 
58 
39 ...
HRoot Global 50 Human Resources Service Providers 2014( R a n k e d b y O p e ra t in g ) 
Company Logo Country Main busin...
HRoot Global 50 Human Resources Service Providers 2014 
(Ranked by Annual Revenue Growth Rate of Main Business) 
37
Industry Company LOGO Country 
38 
Rank 
2014 
Annual 
revenue 
growth rate 
Compared 
with industry 
average 
32.3% 
23.7...
Industry Company LOGO Country 
39 
Rank 
2014 
Annual 
revenue 
growth rate 
Compared 
with industry 
average 
7.3% 
6.5% ...
HRoot Global 50 Human Resources Service Providers 2014 
(Ranked by Total Asset Turnover Ratio of Main Business) 
40
41 
7.9 
4.1 
3.4 
3.0 
2.4 
2.0 
0.4 
0.4 
8.6 
3.2 
3.0 
2.8 
2.7 
2.6 
2.5 
2.5 
2.1 
1.8 
1.4 
1.4 
6.8 
6.4 
4.4 
4.2...
42 
3.7 
3.7 
3.4 
3.1 
3.0 
2.8 
2.6 
1.8 
1.1 
0.9 
0.9 
/ 
0.7 
0.3 
/ 
0.6 
0.6 
0.5 
0.5 
0.3 
1.3 
0.7 
/ 
/ 
Higher...
HRoot2014全球人力资源服务机构50强 
HRoot Global 50 Human Resources Service Providers 2014 
(Ranked by Accounts Receivable Turnover Ra...
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12 / 
44 
6 121.6 
32.8...
46 
46 
26 7.0 
26 7.0 
25 7.0 
36 6.8 
25 7.0 
36 6.8 
48 4.1 
48 4.1 
49 / 
49 / 
18 / 
18 / 
30 / 
30 / 
38 8.3 
38 8.3...
HRoot2014全球人力资源服务机构50强 
HRoot Global 50 Human Resources Service Providers 2014 
(Ranked by Return on Assets of Main Busine...
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31 2.8% 
26 1.9% 
41 
36 -19.1% 
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HRoot2014全球人力资源服务机构50强 
HRoot Global 50 Human Resources Service Providers 2014 
(Ranked by Operating Margin of Main Busine...
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RESOURCES GLOBAL 
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2014 Global Top50 HR Service Providers Ranking and Whitepaper by HRoot
2014 Global Top50 HR Service Providers Ranking and Whitepaper by HRoot
2014 Global Top50 HR Service Providers Ranking and Whitepaper by HRoot
2014 Global Top50 HR Service Providers Ranking and Whitepaper by HRoot
2014 Global Top50 HR Service Providers Ranking and Whitepaper by HRoot
2014 Global Top50 HR Service Providers Ranking and Whitepaper by HRoot
2014 Global Top50 HR Service Providers Ranking and Whitepaper by HRoot
2014 Global Top50 HR Service Providers Ranking and Whitepaper by HRoot
2014 Global Top50 HR Service Providers Ranking and Whitepaper by HRoot
2014 Global Top50 HR Service Providers Ranking and Whitepaper by HRoot
2014 Global Top50 HR Service Providers Ranking and Whitepaper by HRoot
2014 Global Top50 HR Service Providers Ranking and Whitepaper by HRoot
2014 Global Top50 HR Service Providers Ranking and Whitepaper by HRoot
2014 Global Top50 HR Service Providers Ranking and Whitepaper by HRoot
2014 Global Top50 HR Service Providers Ranking and Whitepaper by HRoot
2014 Global Top50 HR Service Providers Ranking and Whitepaper by HRoot
2014 Global Top50 HR Service Providers Ranking and Whitepaper by HRoot
2014 Global Top50 HR Service Providers Ranking and Whitepaper by HRoot
2014 Global Top50 HR Service Providers Ranking and Whitepaper by HRoot
2014 Global Top50 HR Service Providers Ranking and Whitepaper by HRoot
2014 Global Top50 HR Service Providers Ranking and Whitepaper by HRoot
2014 Global Top50 HR Service Providers Ranking and Whitepaper by HRoot
2014 Global Top50 HR Service Providers Ranking and Whitepaper by HRoot
2014 Global Top50 HR Service Providers Ranking and Whitepaper by HRoot
2014 Global Top50 HR Service Providers Ranking and Whitepaper by HRoot
2014 Global Top50 HR Service Providers Ranking and Whitepaper by HRoot
2014 Global Top50 HR Service Providers Ranking and Whitepaper by HRoot
2014 Global Top50 HR Service Providers Ranking and Whitepaper by HRoot
2014 Global Top50 HR Service Providers Ranking and Whitepaper by HRoot
2014 Global Top50 HR Service Providers Ranking and Whitepaper by HRoot
2014 Global Top50 HR Service Providers Ranking and Whitepaper by HRoot
2014 Global Top50 HR Service Providers Ranking and Whitepaper by HRoot
2014 Global Top50 HR Service Providers Ranking and Whitepaper by HRoot
2014 Global Top50 HR Service Providers Ranking and Whitepaper by HRoot
2014 Global Top50 HR Service Providers Ranking and Whitepaper by HRoot
2014 Global Top50 HR Service Providers Ranking and Whitepaper by HRoot
2014 Global Top50 HR Service Providers Ranking and Whitepaper by HRoot
2014 Global Top50 HR Service Providers Ranking and Whitepaper by HRoot
2014 Global Top50 HR Service Providers Ranking and Whitepaper by HRoot
2014 Global Top50 HR Service Providers Ranking and Whitepaper by HRoot
2014 Global Top50 HR Service Providers Ranking and Whitepaper by HRoot
2014 Global Top50 HR Service Providers Ranking and Whitepaper by HRoot
2014 Global Top50 HR Service Providers Ranking and Whitepaper by HRoot
2014 Global Top50 HR Service Providers Ranking and Whitepaper by HRoot
2014 Global Top50 HR Service Providers Ranking and Whitepaper by HRoot
2014 Global Top50 HR Service Providers Ranking and Whitepaper by HRoot
2014 Global Top50 HR Service Providers Ranking and Whitepaper by HRoot
2014 Global Top50 HR Service Providers Ranking and Whitepaper by HRoot
2014 Global Top50 HR Service Providers Ranking and Whitepaper by HRoot
2014 Global Top50 HR Service Providers Ranking and Whitepaper by HRoot
2014 Global Top50 HR Service Providers Ranking and Whitepaper by HRoot
2014 Global Top50 HR Service Providers Ranking and Whitepaper by HRoot
2014 Global Top50 HR Service Providers Ranking and Whitepaper by HRoot
2014 Global Top50 HR Service Providers Ranking and Whitepaper by HRoot
2014 Global Top50 HR Service Providers Ranking and Whitepaper by HRoot
2014 Global Top50 HR Service Providers Ranking and Whitepaper by HRoot
2014 Global Top50 HR Service Providers Ranking and Whitepaper by HRoot
2014 Global Top50 HR Service Providers Ranking and Whitepaper by HRoot
2014 Global Top50 HR Service Providers Ranking and Whitepaper by HRoot
2014 Global Top50 HR Service Providers Ranking and Whitepaper by HRoot
2014 Global Top50 HR Service Providers Ranking and Whitepaper by HRoot
2014 Global Top50 HR Service Providers Ranking and Whitepaper by HRoot
2014 Global Top50 HR Service Providers Ranking and Whitepaper by HRoot
2014 Global Top50 HR Service Providers Ranking and Whitepaper by HRoot
2014 Global Top50 HR Service Providers Ranking and Whitepaper by HRoot
2014 Global Top50 HR Service Providers Ranking and Whitepaper by HRoot
2014 Global Top50 HR Service Providers Ranking and Whitepaper by HRoot
2014 Global Top50 HR Service Providers Ranking and Whitepaper by HRoot
2014 Global Top50 HR Service Providers Ranking and Whitepaper by HRoot
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2014 Global Top50 HR Service Providers Ranking and Whitepaper by HRoot

  1. 1. Subversion and Rebirth ——On the global human resources services market of 2013-2014 2013, A Year of Slow Recovery of World Economy In 2013, the world economy slowly grew in the faltering pace. For 2014, although the financial crisis occurred six years ago, its negative effect of the crisis is still remaining, and developed countries and emerging economies are still affected to some extent. World Economic Situation and Prospects 2014-Update as of Mid-2014 issued by the United Nations shows that the year 2013 is another year of slowly world economic growth, and world GDP (WGP) increased by only 2.1% which is lower than expected. Almost everywhere in the world and the major economies showed their poor performance, and most developed countries were still struggling in the shadow of the financial crisis. Besides this, some emerging economies experienced a slowdown in the past two years were facing new domestic and abroad challenges in 2013. The world economy in the near future, however, shows positive signs: Eurozone finally emerges from recession and a handful of big emerging economies, including China, their economic growth is stabilizing. Under the long-term impact of the financial crisis and regional labor market, the performance of the global human resources services market is gradually improving. The list of "2014 HRoot Global 50 Human Resources Services Providers" also highlights the situation. On the list, the revenue growth of a human resources software company Workday and a business social networking site (LinkedIn) increased respectively by 71.3% and 57.2% and become the most two eye-catching companies. In addition, what lift the people’s sprits is that even if global human resources services market performed to the average, but the company’s performance of CIIC are highlighted this year. With the 23.7% of the revenue growth rate, CIIC ranked No.6 on the list. Moreover, the growth of the company's operating income per capita was second to none, reached $1.813 million, and ranked first in the world, which reflects its China human resource services market leadership is unshakeable. From indexes of "operating profit", 43 companies on this year's top 50 list are profitable. Compared to last year's 40, the number of profit enterprises is rising. Overall, compared with other industries, the development of the global human resource services industry is improving steadily in the unrest this year. After the 2008 financial crisis, the global human resources services market experienced the downturn for a time. On the 2009 top 50 list, there were only 26 profitable enterprises. Until 2011, the number climbed to 44 again. After that, the global human resources services market fluctuates, but the overall profit is relatively stable. 1 Corporate earnings of Global 50 HR Services Providers in fiscal 2013 8% 6% 86% Profitable Loss-making Others Corporate earnings of Global 50 HR Services Providers (fiscal 2009 - - fiscal 2013) fiscal 2009 fiscal 2010 fiscal 2011 fiscal 2012 fiscal 2013 60 50 40 30 20 10 0 Profitable number Loss-making number Others
  2. 2. Development of the Industry: Subversive and Creator Among the top 10 on the list of "2014 HRoot Global 50 Human Resources Services Providers", Adecco, Randstad and ManpowerGroup ranked the top three positions. It is worth mentioning that, the revenue growth rate of Recruit climbed to 20.5% and ranked NO.4 on the list. Affected by the global recession, fiscal 2013 compared to fiscal 2012, witnessed the revenue of Adecco and ManpowerGroup dropping. At the same time, in the 2014 Global 500 ranking published by the Fortune magazine, only one human resources service agency, Adecco, made the list whose operating income was $25.8 billion, and ranked No.461. But all the top three firms realized their own operating profit growth. Human resources outsourcing industry will continue to develop, and the business process outsourcing model of services providers stay ahead in terms of revenue and profit growth. In fiscal 2013, ADP in terms of revenue and operating profits achieved positive growth. It was No.1 in the world's human resources outsourcing market with its revenue of $11.31 billion and operating profit margin of 18.4% which ranked No.5 on the list of "2014 HRoot Global 50 Human Resources Services Providers". In addition to the continuous cultivation on salary welfare outsourcing, ADP also stepped into recruitment process outsourcing field through the 2012 acquisition of The RightThing. ADP is also the most valuable enterprise in human resources industry. American wage outsourcing services provider, Paychex, continued to pilot human resources outsourcing area with its operating profit margin 38.9%. By contrast, the performance of human resource consulting companies in fiscal 2013 was still poor. On the list of "2014 HRoot Group 50 Human Resources Services Providers", there were only four human resources consulting companies. Among them, the Aon Hewitt dropped out of the top 10 regrettably, ranked 11th. The rank of MERCER improved. As compared to last year, it ranked No.10 this year. TOWERS WATSON still ranked No.13. In addition to that, the performance of RESOURCES GLOBAL PROFESSIONALS compared with that of last year was also barely satisfactory with 7.1% of its operating profit margin ranked No.39. The development of headhunting service and recruitment process outsourcing was weak and fatigue in fiscal 2013. Influenced by the economic downturn, many service agencies encountered negative growths of revenue and operating profit. Among the top 10, only HAYS listed. On the list of "2014 HRoot Group 50 Human Resources Services Providers", only three human resources software companies made the list. In fiscal 2013, while the annual revenue growth rate of the human resources software industry reached 31.0%, ahead of other human resource industries, but its operating profit margin, net profit margin, and return on net assets were all negative. Key rate of Profit Industry Annual Revenue Growth Rate and Return on Assets Industry total asset turnover ratio and accounts receivable turnover ratio 2 HR service outsourcing Operating margin Net profit margin Return on Shareholder's Equity Annual Revenue Growth Rate Return on Assets Accounts receivable turnover ratio Accounts receivable turnover ratio HR service outsourcing headhunting service and RPO HR management software talents dispatch/rental/ online recruitment HR consulting placement services talents dispatch/rental/ placement services headhunting service and RPO HR management software online recruitment HR consulting HR service outsourcing talents dispatch/rental/ placement services headhunting service and RPO HR management software online recruitment HR consulting
  3. 3. Employee dispatching/rental/placement services: Giants gathered According to the analysis of the Staffing Industry Analysts analysis, the American temporary employment market was worth $106 billion. In 2013, it rose 6% in a year-on-year profit. ManpowerGroup though failed to achieve year-on-year revenue growth, but it still ranked No.3 on the list of "2014 HRoot Group 50 Human Resources Services Providers" by $20.25 billion. During the economic downturn, temporary employment business even become a main force to pull through for many big European human resources services, and the two giants Adecco and Randstad whose headquarters located in the Europe continued leading industry and developing. On this year's list, Recruit in Japan ranked No.4 with $12.154 billion in revenue which was a 20.5% year-on-year increase. Either from revenue or number of employees, Recruit was close to the first echelon. The first four occupied 48% of the total amount of revenue on the list of "2014 HRoot Group 50 Human Resources Services Providers". Enterprise's profit ability is closely related to industrial cycle and macroeconomic environment. Japanese labor dispatching market operation is relatively more mature than other countries. Since the 1960s’ labor dispatch, Japan formally launched The Labor Dispatching Act during the 1980s, and it was amended four times in 1990, 1996, 1999 and 2003 successively which gradually opened the limitations of labor dispatching. Under the bubble economy, Japanese employment system and labor market also took great changes. Enterprises tend to hire personnel, and labor dispatching rises in Japan. In addition to continued cultivation on the Japanese market, Japanese companies are also beginning to move towards the world, especially the attention on the development of European and American markets and acquisitions. In 2013, Recruit made an acquisition of the world's largest search recruitment patterns company, Indeed, and the move brought in its overseas income growth of 33% in fiscal 2013 which exceeded its domestic business growth. In the 2010-2012, Recruit has bagged the American temporary employment service agencies CSI, Staffmark and Advantage Resourcing. In fiscal 2013, Recruit won temporary dispatching revenue a year-on-year growth of 10.8% compared to that of last fiscal year, and its sales growth increased by 21.1% in overseas markets. Recruit is also the largest of 51 job. Japanese companies have been actively open up the North American market, and strengthen their local operation ability. Pasona, a group founded in 1976, is to provide human resources solutions, the temporary worker dispatch, hiring, professional outsourcing solutions, knowledge sharing, and staff life services, such as human resource services. In recent years, for its revenue contribution, the North American market is more and more huge. Human resources management software: subvert the tradition Workday is a subversion and breaking through the traditional software market of enterprise human resources. From the beginning, it seized the timing of the fusion between the Software and the Internet, and it was first to adopt cloud-based SaaS (Software - as - a - Services, Software as a service) this new business model of human resource software provider. Compared to the traditional license centered human resources software, the lease mode of SaaS allows that customers pay the service fee by usage, which shows its obvious cost advantages in cost, software updating speed, and compatibility. Since founded in 2004, Workday quickly accumulated customer resources, and robbed many big customers from its quite deep enmity, rival Oracle in the North American market. Its operating income sustains double-digit growth, and its market share continually expands. In fiscal 2013, Workday become the fastest growing company in operating income by 71.3% revenue growth on the list of "2014 HRoot Group 50 Human Resources Services Providers". Based on cloud computing software, the expansionary path of human resources software in fiscal 2013 is quite good, which its revenue realized double-digit growth: the revenue of Ultimate SOFTWARE in fiscal 2013 rose by 23.5% compared to that of the previous year; the cloud business of Kronos, a labor management software, achieved double-digit or even triple-digit growth continuously in fiscal 2013, which made its overall revenue of achieving 12.1% growth. SaaS has characteristics in low investment, high yield, and easy to implement and management. According to data from Gartner, SaaS market climbs by 21% of the compound growth rate from 2012 to 2017, will rise to $45.8 billion in 2017. The long-tail type business model of SaaS changes the wind direction of the entire human resources software industry. In the next five years, 12% of the world software market will shift to the cloud computing. IBM, Oracle, SAP, Microsoft and other software companies realized the importance of SaaS and on-demand computing, embracing SaaS model, and made the market more active. The speed of cloud transformation for Oracle 3
  4. 4. giants was not slow. Until February 28, 2014, the quarterly revenue of Oracle cloud business nearly achieved $300 million. At this rate, the annual revenue of Oracle in the SaaS model will be more than $1 billion. Given that the human resources software revenue in Oracle, SAP enterprise software giant is less than 50% in the overall income, so they are not included on this list. There is no exaggeration to say that cloud computing has become the most promising direction of the capital market, and Workday is considered by analysts as one of the most potential and attractive stocks in software plate. On October 13, 2010, Workday IPO (initial public offering) shares rose 74% on the first day, with a $4.8 billion market cap, and increasing more all the way up, once even topped $10 billion. In February 2014, Kronos rejected $4.5 billion takeover bid, and the reason was the low valuation. Kronos performed very well in recent years with double-digit average growth rate and in May 2014, Kronos revenue topped $1 billion. However, despite the welcomed capital market, profitability for the Workday is even more of a challenge. In fiscal 2013, Workday lost $153 million with -32.7% operating profit growth rate, hanging at the end on the list of "2014 HRoot Group 50 Human Resources Services Providers". SaaS is not a profiteering industry, only accumulated to a certain degree of customers it can surpass the break-even point. Despite Workday won a lot of big orders in the North American market and also gradually accumulated local customers in the Chinese market, such as Lenovo and Dianping, but compared to tens of thousands of customer numbers of its rivals, customer number of Workday is less than one-tenth than them. Not every product line can be developed with priority, but the financial products of Workday are very competitive. For the aspect of human resources software, Workday also maintains enough strength. Early May 2014, Workday announced a set of cloud based human resources components which was the birth of the Workday Recruiting. In February 2014, the management fund of Blackstone Group and the Singapore Government Investment Corporation will put $750 million in equity investment in Kronos on the basis of Kronos’s original investor Hellman & Friedman and JMI equity Investment Company. This investment will help Kronos to speed up the pace of product innovation, constantly broaden the vertical professional knowledge, and to speed up the global strategic expansion. Online recruitment: rebirth after the silence Social recruitment, vertical recruitment and other new forms of recruitment pattern continuously impact the traditional Job Board model, the old and new model of online recruitment battle intensified. No matter for the pursuit of menacing upstarts, or for the concern about the big brothers, it hurts the prosperity and flourish of the online recruitment market. On the list of "2014 HRoot Global 50 human resources services providers", the development of online recruitment sector is particularly eye-catching. The average profitability of online recruitment is higher than other industries: return on net assets reached 84.1%, accounts receivable turnover rate reached 30.3%, 19.6% operating profit margin, net profit margin of 11.3%. Among them, the performance of the traditional online recruitment website of 51 job is remarkable. According to the fourth quarter of fiscal 2013 earnings, revenue in 51 job online recruitment business accounts for about 61.22% of the total. In fiscal 2013, employer clients of 51 job online recruitment increase from 272,322 in 2012 to 333,973 in fiscal 2013 with the growth rate of 22.6%. According to the calculated: each employer client contribute about 3000 Yuan to the online recruitment. For 51 job, total revenue of $227 million in fiscal 2013, 10.9% year-on-year increase, and its operating profit of $80.7 million, rose 0.6% year-on-year. At the same time, LinkedIn still maintains a strong momentum of development. In fiscal 2013, LinkedIn's revenue reached $1.529 billion, compared to $972 million in fiscal 2012, sales growth rate reached 57.2%, which ranked the top 1 in the online recruitment sector. Among them, the income of recruitment is about 840 million, over the same period, the world's largest Job Board model, Monster, is about $807 million. In terms of operating profit, SEEK with its proud achievements occupied in the first place. The 50% of its operating profit margin also made it the top one the list of the operating profit margin in "2014 HRoot Global 50 human resources services providers". SEEK, founded in 1997, operating in 13 countries around the world the in fiscal 2013 and serving for more than 2.5 billion people, is one of the largest online recruitment groups in Australia and New Zealand. It is the parent company of Zhaopin ("2014 HRoot Global 50 human resources services providers" deputy 53) and in 2014 bought Jobstreet ("2014 HRoot Global 50 human resources services providers" deputy 63) in 1.73 billion ringgit Malaysia (about $523.5 million), Jobstreet is an online recruitment company, which faces for Singaporean, Malaysian, the Philippine, Indonesian, Thai, Vietnamese and Hong Kong enterprises and job seekers. The deal shows the determination that SEEK will continue to develop markets in Asia, including China. According to the results of fiscal 2013, SEEK in the international business revenue is close to the local market in Australia and New Zealand, which contains Zhaopin and JobsDB in Chinese region. In October 2006, SEEK invested Zhaopin and held a 24% stake, then the stake is rising continually. In June 2009, it became the controlling shareholder of Zhaopin. In June 2014, Zhaopin listed on New York Stock Exchange in the United States, valued at $732 million. Before listing, Zhaopin acquired 100% stock rights of the Chinese investment 4
  5. 5. corporation of JobsDB. Though traditional recruitment pattern represented by the Monster (Job Board) in the United States has declined and tomorrow for the same pattern of 51 Job and Zhaopin also seems very pale, 51 Job and Zhaopin has produced large number of users over the past 10 years, so this "Monster’s tomorrow" may not come at once. The prosperity of online recruitment industry accelerates the speed of geographic expansion for recruitment giants. China is large in population and the importance of the Chinese market is becoming more and more evident. On February 25, 2014, LinkedIn moved into the Chinese market, which launched a Beta in Chinese and published in Chinese called "Lingying". On March 6, LinkedIn Chinese website officially opened the registration of "Lingying". By the end of May 2014, LinkedIn has more than 5 million users in China. Compared to the beginning of 2014, LinkedIn new Chinese day subscribers increased by 80%. At the same time, Sina Weibo announced "micro" recruitment services. Sina said, the number of active users with job requirements reached 100 million on Weibo, and there were also 700,000 certified enterprises. Predictably, LinkedIn advance into China will change the professional networking and network recruitment market pattern, greatly impacting on the local traditional recruitment websites, and China's online recruitment field will reshuffle in 2014. The year 2014 is the cacophony for online recruitment market after a perennial silence. Classified information portal websites 58 city and Ganji shifted to the recruitment; Lagou, Hunteron and Liepin got the level of millions or even tens of millions of dollars of financing, which the net $70 million C round of financing of Liepin is the largest domestic online recruitment market financing in the last five years. These potentials are likely on the list of "Global 50 human resources services providers" in the near future. Industry reshuffle: Home on the later ones 5 While the global economic development improves steadily, but the development of human resources service organizations is not balanced. In fiscal 2013, some happy some worry. On the list of "2014 HRoot Global 50 human resources services providers", there are two companies listed for the first time, at the same time two enterprises are absent which were listed on last year. The two absent enterprises, one Japanese human resources service outsourcing company FULLCAST HLDGS ranked No.38 on the list of "2013 HRoot Global 50 human resources services providers" and the other one American human resources software Cornerstone ONDEMAND ranked No.49 last year were unfortunately absent from the list this year for their revenue falls. Both the two listed companies Staffline Group and Empresaria Group are the recruitment process outsourcing company. Table 1 Previously listed companies absent from the "2014 HRoot Global 50 Global Human Resources Service Providers” Ranking in 2013 49 38 Company Cornerstone ONDEMAND FULLCAST HLDGS Country US Japan Main business HR management software HR outsourcing Reason of absence Revenue falls below Revenue falls below Companies making debut on the “2014 HRoot Global 50 Global Human Resources Service Providers” Company Staffline Group Empresaria Group Country UK UK Main business recruitment process outsourcing Headhunting and recruitment Revenue in Fiscal 2013 (USD, mn) 651 304 Ranking in 2013 37 44 In addition, it is worth mentioning, Zhaopin listed on the New York Stock Exchange in the United States in June 2014. According to a previously submitted prospectus shows that as of March 31, 2014, Zhaopin total revenue reached 756.7 million Yuan and net income reached 130.1 million Yuan in the first nine months. Among them, online recruitment services revenue was 601.6 million Yuan, 558 million Yuan higher than the same period last year. Therefore, Zhaopin successfully ranked No.53 among the sub-list of "2014 HRoot Global 50 human resources services providers". Mergers and Acquisitions waves surging In 2014, the global mergers and acquisitions market presents a hot trend ever since the financial crisis. As of July 2014, Thomson Reuters weekly data shows that since this year the global mergers and acquisitions reached $2 trillion, rose 75% from a year earlier. According to statistics from Bloomberg, if it is in accordance with the speed of the first four months in the rest of this year, the total size of global mergers and acquisitions could reach $4 trillion this year, and become the second largest mergers and acquisitions year throughout the history, which have never been seen since the financial crisis. Meanwhile, the survey from Ernst & Young released on the global 70 countries and 1600 senior management personnel. Survey results show that the economic recovery fueled confidence in the market growth, and more than 30% companies plan for mergers and acquisitions this year, more than 70% respondents expect the rising number of mergers and acquisitions and deals in 2014. Affected by the global economic recovery, mergers and acquisitions of the human resources market also revealed a "true explosive
  6. 6. growth". From 2013 to the first half of 2014, as the competition of human resources in the industry intensified, the mergers and acquisitions activities in global human resources industry turned up frequently, and the consolidation strength continuously enhanced. Among them, the act of Kronos declining to $4.5 billion takeover bid was a highlight of industry. Over the past few years, several major global human resources software giants, carried out large mergers and acquisitions, and gradually formed the human resources software industry the "Head of evergrande, the stronger the strong" pattern. In 2013, according to Ernst & Young, average of mergers and acquisitions in the field of big data ranked first for a single transaction, and cloud computing ranked first in the frequency and total mergers and acquisitions transaction. Cloud, big data and mobile become the three trends for the future development of in the human resources software industry. Huge offer bid of Kronos became an important evidence of this trend. According to the disclosure of the results in 2013, compared to the same period of last year, Kronos cloud business growth was 51%. In the first quarter of fiscal 2014, Kronos labor management cloud business income reached 137% growth. Kronos actively involved in the development based on the application of smart phones and social media at the same time, and advanced in the mobile space. All of these become the important weights for Kronos value rising. The "2014 HRoot Global 50 human resources services providers" still uses the DuPont analysis, considering enterprise ROE as the product of a number of financial ratios, which is helpful with in-depth analysis and comparison of business performances. By a number of ratio that evaluate the business efficiency and financial condition which intrinsically linked organically combined to form a complete index system, and ultimately through the consolidated ROE to reflect. In this ranking, the four dimensions of the 10 indicators selected for comparison, in-depth analysis of the human resources services operating conditions. First, by comparing revenue growth, total asset turnover, accounts receivable turnover, asset margin, these four indicators measure the viability of the enterprise. Among them, the annual revenue growth reflects increases and decreases in revenue. Total asset turnover reflects the overall assets of the enterprise operational capacity. In general, the total asset turnover faster, the operational capabilities is stronger. Accounts receivable turnover ratio illustrates the company within a certain period the average number of accounts receivable into cash. On the list of "2014 HRoot Global 50 human resources services providers", Workday and LinkedIn with 71.3% and 57.2% growth in revenue are the two fastest growing companies, and human resources management software in the growth rate of 31% still occupied the fastest industry revenue growth. CIIC, in addition, in fiscal 2013, the total asset turnover was 7.9, only second to one Corporate Resource services company of 8.6, and accounts receivable turnover rate was as high as 121.6, so continued to firmly hold the first. It also highlighted 6 Table 2 Major Mergers& Acquisition events in the HR industry worldwide, 2013-2014 Time Jan.2013 Feb.2013 Feb.2013 May.2013 Jun.2013 Jun.2013 Jul.2013 Jul.2013 Aug.2013 Aug.2013 Aug.2013 Sept.2013 Oct.2013 Oct.2013 Nov.2013 Nov.2013 Jan.2014 Feb.2014 Feb.2014 Feb.2014 Mar.2014 Apr.2014 Apr.2014 Apr.2014 Apr.2014 May.2014 May.2014 Particular XING acquired employee assessment services suppliers Kununu by $12.3 million Irish recruitment firm Saongroup announced the purchase agreement signed with American Monster company to buy a 90% stake in the Monster's ChinaHR Manpower acquired Norway's biggest recruitment agency construction industry Workshop Holding Corporate Resource services acquired Summit Software which is human resources industry enterprise application Software and hosting solution supplier based on cloud ADP acquired South American human resources outsourcing and pay and benefits services Payroll company for expanding Latin American market Professional compensation processing and employers service enterprise Paychex acquired applicant tracking software company myStaffingPro SFSC acquired Shanghai fulcrum of human resources and Shanghai union human resources co., LTD Recruiting Software Bullhorn acquired Software suppliers EASY Software Solutions Japanese human resources and information services company Recruit acquired India's largest headhunters NuGrid Consulting Australian human resource service provider Staffing 360 Solutions acquired risk management and consulting, internal audit and information technology solutions provider Control Solutions International, Inc. Workforce management solution provider Kronos acquired labor management service provider Time Link International Corporation Australian part-time job platform Freelancer.com refused to be acquired on IPO PwC acquired management consulting Company Booz & Company RPO field giant Alexander Mann Solutions announced it will be acquired by private-equity investors New Mountain Capital acquisitions in £260 million Towers Watson announced a proposed $215 million acquisition of a private health insurance exchange Liazon Heidrick & Struggles acquired executive search service for the financial services industry suppliers Scambler MacGregor The global executive search firm CTPartners acquired Australian leading independent executive search and leadership consulting service enterprise Johnson LinkedIn acquired data driven recruitment company Bright in $120 million Human resources software Kronos refused to more than $4.5 billion bid Australian online recruitment giant SEEK $524 million deal to buy online recruitment firm JobStreet.com Human resource management and optimization software product solution provider ClickSoftware $15 million deal to buy a cloud-based mobile workforce management solutions provider Xora HayGroup announced it was buying online psychological evaluation service supplier Talent Q Australian online recruitment giant SEEK acquired a 25% stake of recruitment website jobsDB.com SAP acquired flexible workforce management technology supplier Fieldglass CareerBuilder acquired online recruitment software supplier Broadbean Recruitment process optimization full-service supplier WilsonHCG acquired recruitment process outsourcing company CPH StepStone acquired British online recruitment website Jobsite.co.uk
  7. 7. the long-term steady operation ability of CIIC against the uncertain economic environment. 7 Secondly, operating margin, net profit margin, return on net assets three indicators reflect the company's profitability. Among them, the ROE reflects the profitability of shareholders' investment funds, corporate finance, operations and other activities with a DuPont analysis of the most important indicators. Based upon the list, American Paychex ranked first with 32.1%, and Robert Half ranked second with 27.4%. In addition, from the point of each industry segment, online recruitment sector with 84.1% of the enterprise net assets was second to none. Finally, the current ratio, interest coverage has reflected the company's solvency. Among them, the current ratio indicates that short-term solvency of companies, while enterprises have been used to Table 3 Financial analysis indicators used in the “2014 HRoot Global 50 HR Service Providers” Operating capacity rofitability Financial structure Solvency Annual revenue growth rate Total asset turnover ratio Accounts receivable turnover ratio Return on assets (ROA) Operating margin Net profit margin Return on shareholder's equity (ROE) Debt-asset ratio Current ratio Times interest earned(TIE) (Current revenue - on revenue) / on revenue Revenue / average total assets Revenue / average accounts receivable balance Net profit/average total assets Operating profit/revenue Net profit/main business income Net profit/shareholders' equity Liabilities/total assets Current assets/current liabilities EBIT/interest expense measure the interest cover long-term solvency. In general, the higher the interest earned multiples, the stronger the corporate long-term solvency. In the ranking, ADP and BBSI with 230.04 and 104.75 interest earned multiples respectively have become the two strongest long-term solvency companies. In addition,"2014 HRoot Global 50 human resources services providers" also introduces the concept of the industry average value for the field of human resources services to provide different industries the benchmark. This method can be more intuitive and objective for investors to determine the human resources services institution's financial position overall level of risk they facing reveal the size and growth. On this list, the industry average is 59 enterprises on human resources outsourcing, temporary staffing / lease / placement services, executive search and recruitment process outsourcing services, human resources consulting, human resource management software, online recruiting division of industry classification, various financial ratios mean. By various indicators of human resources services and comparative analysis of the industry average, giving composite score, according to grade level to assess its financial level, which reflects the company's profitability in the industry. Meanwhile, in the calculation of the exchange rate, this list still uses local currencies and the U.S. dollar average exchange rate for the year, an exchange rate calculation method adopted by Fortune magazine in its workout of the Global 500 ranking. We convert the company’s sales revenues into U.S. Dollar amounts before working out the final sorting: This algorithm excludes the impact of annual changes in interest rates on rankings, and hence minimize the likelihood of errors. In 2014, the domestic and foreign environment still face extensive and profound changes, and uncertainties in world economic increase. At the same time, disruptive technological changes, for example the Internet of things, cloud computing, and big data have a profound impact on business, and greatly overturns the traditional business model. Information age and mobile Internet subvert the law of value creation, and Internet thinking puts forward new challenges to the enterprise talent management. In future, human resource managers need to actively break the barrier of the thinking; conduct open innovation, and enhance business value, to help enterprises continue to grow. Facing the globalization brings challenges and opportunities, human resource service agencies need to pursue innovations and changes in the imbalanced development, and constantly looking for breakthrough and rebirth to resist the uncertainties in the uncertain economic environment, to earn its own place in future market development.
  8. 8. Table4 Financial ratios averages by industry in the “2014 HRoot Global 50 HR Service Providers” software Online recruitment Industry HR consulting 8 Annual revenue growth rate Total asset turnover ratio Accounts receivable turnover ratio Return on assets Operating margin Net profit margin ROE Debt-asset ratio Current ratio Times interest earned 3.0% 2.9 25.3 5.0% 7.9% 4.3% 15.8% 58.3% 1.4 134.0 6.0% 2.9 7.5 5.5% 3.9% 2.2% 9.9% 53.0% 1.6 18.6 2.5% 3.3 7.9 1.3% 1.3% 1.4% 1.8% 56.0% 1.2 29.0 31.0% 0.7 4.4 -4.2% -15.3% -14.1% -21.2% 60.1% 2.5 / 11.8% 0.7 30.3 7.5% 19.6% 11.3% 84.1% 43.0% 2.1 15.9 2.0% 1.0 5.4 5.4% 10.1% 6.3% 8.8% 32.0% 2.5 / HR service outsourcing Talent dispatch / lease /placement Headhunting &RPO HR management Financial Ratio
  9. 9. HRoot Global 50 Human Resources Service Providers 2014 9
  10. 10. HRoot Global 50 Human Resources Service Providers 2014 10 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 1 2 3 5 4 8 6 7 9 11 10 14 13 12 16 17 15 19 18 22 23 20 26 21 25 Adecco randstad ManpowerGroup RECRUIT ADP CIIC HAYS KELLY Robert Half MERCER Aon Hewitt TEMP HOLDINGS TOWERS WATSON usg people PAYCHEX Insperity PASONA SYNERGIE IMPELLAM GROUP TRUEBLUE On Assignment PageGroup Linkedin CHANDLER MACLEOD KFORCE Talent dispatch/lease/ placement HR service outsourcing HR service outsourcing Headhunting & RPO HR consulting HR service outsourcing and HR consulting HR service outsourcing HR consulting HR service outsourcing HR service outsourcing Headhunting & RPO HR service outsourcing Headhunting & RPO Online recruitment HR service outsourcing Headhunting & RPO Ranking higher/ lower Rank 2014 Rank 2013 Company Logo Country Main business Total revenue in Fiscal 2013 ($ million) Annual revenue growth rate Operating profit in Fiscal 2013 ($ million) Operating margin in Fiscal 2013 Talent dispatch/lease/ placement Talent dispatch/lease/ placement Talent dispatch/lease/ placement Talent dispatch/lease/ placement Talent dispatch/lease/ placement Talent dispatch/lease/ placement Talent dispatch/lease/ placement Talent dispatch/lease/ placement Talent dispatch/lease/ placement 25,898 22,001 20,250 12,154 11,310 6,598 5,781 5,413 4,246 4,241 4,057 3,697 3,597 3,014 2,326 2,256 2,128 2,018 1,886 1,669 1,632 1,572 1,529 1,504 1,152 -1.9% 0.2% -2.1% 20.5% 6.5% 23.7% -0.2% -0.7% 3.3% 2.3% 3.4% 19.7% 5.2% -18.4% 4.3% 4.5% -6.2% 8.4% -1.8% 20.1% 31.6% 0.2% 57.2% -2.9% 6.5% 1,034 486 512 1,198 2,084 88 196 53 398 / 318 190 472 55 905 56 33 75 45 60 124 107 48 / 21 4.0% 2.2% 2.5% 9.9% 18.4% 1.3% 3.4% 1.0% 9.4% / 7.8% 5.1% 13.1% 1.8% 38.9% 2.5% 1.5% 3.7% 2.4% 3.6% 7.6% 6.8% 3.1% / 1.8% — — — ↑ ↓ ↑ ↓ ↓ — ↑ ↓ ↑ — ↓ ↑ ↑ ↓ ↑ ↓ ↑ ↑ ↓ ↑ ↓ —
  11. 11. HRoot Global 50 Human Resources Service Providers 2014 11 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 36 24 32 27 30 28 53 34 29 31 33 / 39 35 40 37 44 42 / 45 41 46 43 47 48 HARVEY NASH CDI Corporation KORN/FERRY INTERNATIONAL sthree KRONOS ROBERT WALTERS CEB Monster MEITEC Hudson Staffline Group seek BBSI workday Ultimate SOFTWARE Empresaria Group hydrogen bluestone 51job Clarius Group HRnet Group Dice Holdings Headhunting & RPO Headhunting & RPO Headhunting & RPO Workforce Management Headhunting & RPO Other Online recruitment Headhunting & RPO Online recruitment HR consulting HR service outsourcing Headhunting & RPO Headhunting & RPO Headhunting & RPO Headhunting & RPO Online recruitment Headhunting & RPO Online recruitment CORPORATE RESOURCE SERVICES RESOURCES GLOBAL PROFESSIONALS Talent dispatch/lease/ placement Talent dispatch/lease/ placement Talent Management/ Headhunting & RPO Recruitment Process Outsourcing HR management software HR management software Head-Hunting, Talent Acquisition, Lease and Talent Management & Retention 1,090 1,088 996 992 975 935 820 820 808 764 660 651 627 556 533 481 469 410 304 284 281 277 225 220 214 17.2% -1.5% 20.4% 8.4% 12.1% 3.9% 31.6% 28.1% -9.3% -8.7% -15.1% 13.4% 36.0% -2.7% 32.3% 3.3% 71.3% 23.5% 0.03% 7.3% -16.0% 15.6% -17.6% 2.7% 9.3% 11 21 92 25 / 17 91 11 33 71 -27 20 314 40 24 16 -153 43 9 4 -55 81 -41 26 30 1.0% 1.9% 9.2% 2.5% / 1.8% 11.1% 1.3% 4.1% 9.3% -4.1% 3.1% 50.0% 7.1% 4.6% 3.2% -32.7% 10.5% 2.8% 1.4% -19.6% 29.1% -18.2% 11.8% 14.1% Ranking higher/ lower ↑ ↓ ↑ ↓ — ↓ ↑ ↑ ↓ ↓ ↓ → ↑ ↓ — ↓ ↑ ↓ → — ↓ ↓ ↓ ↓ ↓ Rank 2014 Rank 2013 Company Logo Country Main business Total revenue in Fiscal 2013 ($ million) Annual revenue growth rate Operating profit in Fiscal 2013 ($ million) Operating margin in Fiscal 2013 HEIDRICK&STRUGGLES
  12. 12. HRoot Global 50 Human Resources Service Providers 2014,Sub-Rank Companies 12 51 52 53 54 55 56 57 58 59 60 61 62 63 49 38 / / / 50 51 54 52 56 57 58 / FULLCAST HLDGS Zhaopin Paycor ClickSoftware 104 Job Bank ATA Fortune Industries DLH PRIME PEOPLE NetDimensions JobStreet.com HR management software HR service outsourcing Online recruitment Headhunting & RPO HR management software HR management software Online recruitment Talent assessment/ testing HR service outsourcing HR service outsourcing Headhunting & RPO HR management software Online recruitment ↓ ↓ → → → ↓ ↓ ↓ ↓ ↓ ↓ ↓ → 185 178 145 134.3 111.3 103 74 61.8 57 54 23 16.2 2.7 57.0% -61.4% 11.4% 1.0% / 3.1% 2.8% 10.8% -6.6% 8.8% 12.3% 17.4% -28.5% -34 3 34 -3 / -6 10 6.7 1.9 0.2 2 -4.9 / -18.3% 1.9% 23.5% -2.2% / -5.7% 12.9% 10.8% 3.3% 0.5% 7.1% -30.2% / Cornerstone ONDEMAND CTPartners Executive Search Ranking higher/ lower Rank 2014 Rank 2013 Company Logo Country Main business Total revenue in Fiscal 2013 ($ million) Annual revenue growth rate Operating profit in Fiscal 2013 ($ million) Operating margin in Fiscal 2013 Notes: 1、Conditions on entrants: The revenues of human resources service providers shall account for over 50% of their revenues, and the listed companies can provide financial data audited by third-party audits or notarized by the government departments. Therefore, listed companies such as Oracle, SAP, Kingdee, Yonyou are not presented as their HR software business did not generate more than 50% of their total revenues. DDI, HayGroup, and Career International, are absent from the rankings as they have not gone public or their financial data are not available, albeit they specialize in human resources services. 2、The data adopted in the ranking come from below sources: (1)Financial reports of 2013 announced by each listed company; (2)Financial information of 2013 announced by the stock exchanges where the companies are traded; (3)The data of unlisted companies are provided by third-party auditors or financial statements approved by the government departments available to HRoot. 3、The annual financial data in the rankings are divided by the fiscal year involved in the financial reports rather than the calendar year. 4、The rankings take the US dollar as the standard currency. Data are collected from websites including http://www.imf.org and http://www.usforex.com. Financial data of non-US companies are converted into US dollars at the average exchange rate of a whole year ending on the last day of their fiscal years. The exchange rates are listed as follows: USD1 to Euro0.7531; USD1 to JPY97.6536; USD1 to GBP0.6395; USD1 to AUD1.000; USD1 to RMB6.1311; USD1 to HKD7.7567; ; USD1 to NTD 29.7100; USD1 to SGD1.2511; USD1 to MYR 3.1497.
  13. 13. HRoot Global 50 Human Resources Service Providers 2014,Sub-Rank Companies 5、The slash mark, or “/”, means no data. 6、The financial data of Mercer are sourced from the 2013 annual financial report of its parent company, Marsh & McLennan. 7、The financial data of Aon Hewitt refer to the Fiscal 2013 data of the HR solutions business of Aon Corporation. 8、As its revenue of human resources services accounted for more than 50% of its total revenue, LinkedIn is qualified as an entrant in the rankings. 9、Insperity was formerly named Administaff. 10、DLH Holdings Corp. was formerly named TeamStaff. 11、Total Revenue is the operating income of the companies in the sales of goods or services, and other operations, including the basic operating revenue and other operating income. It is an important part of corporate cash inflows, the operating results of the enterprise. Therefore, the rankings refer to the total revenue of the enterprises. 12、 The data of industry averages are calculated as per the industry categories the 63 companies fall into, i.e., human resources outsourcing, talent dispatch/lease/placement services, executive search services, recruitment process outsourcing, human resource consulting, human resource management software, and online recruitment. 13、Interpretations of financial ratios Competence indicator Financial ratio Formula (1)(1) Annual revenue growth rate or increase rate of main business revenue gauges the ratio of the difference between the revenues of Fiscal 2013 and Fiscal 2012 to the latter. It illustrates how fast the revenue is changing. (2)The total asset turnover ratio or Turnover of total assets measures the ability of a company to use its assets to efficiently generate sales. This ratio considers all assets, current and fixed. Those assets include fixed assets, like plant and equipment, as well as inventory, accounts receivable, as well as any other current assets. The fast the turnover of a company, the stronger its operating capacity is. (3)Accounts receivable turnover ratio or Receivable Turnover refers to the number of times that accounts receivable amount is collected throughout the year. The average accounts receivable looks at the accounts receivable balance at the beginning of the year as well as the end of the year. A high accounts receivable turnover ratio indicates a tight credit policy. A low or declining accounts receivable turnover ratio indicates a collection problem, part of which may be due to bad debts. Yet an extremely high ratio can mean that the company is under the heavy debts that may curb the increase of its sales amount and profit. (4)ROA, or profit rate to net worth, is an indicator of how profitable a company is relative to its total assets. ROA gives an idea as to how efficient management is at using its assets to generate earnings. Calculated by dividing a company's annual earnings by its total assets, ROA is displayed as a percentage. (5)Operating Profit Ratio refers in fiscal 2013 the ratio of operating profit and revenue of enterprises, and it reflects the enterprise the management efficiency without considering the operating cost. (6) Net profit margin tells net profit for the enterprise with the proportion of main business enterprises in fiscal 2013. The higher a company's profit margin compared to its competitors, the better. 13 Operating capacity Profitability Financial structure Solvency Annual revenue growth rate Total asset turnover ratio Accounts receivable turnover ratio ROA (return on assets) Operating margin Net profit margin ROE, return on shareholder's equity Debt-asset ratio Current ratio TIE (times interest earned) (Current revenue - on revenue) / on revenue Revenue / average total assets Revenue / average accounts receivable balance Net profit / average total assets Operating profit / Revenue Net profit / main business income Net profit / shareholders' equity Liabilities / total assets Current assets / current liabilities EBIT / interest expense
  14. 14. HRoot Global 50 Human Resources Service Providers 2014,Sub-Rank Companies (7)ROE, or Return on shareholder’s equity, is the amount of net income returned as a percentage of shareholders equity. Return on equity measures a corporation's profitability by revealing how much profit a company generates with the money shareholders have invested. (8)Debt Asset ratio is total liabilities divided by total assets. The debt asset ratio shows the proportion of a company's assets which are financed through debt. Companies with low debt asset ratios are said to be with the strong ability of long-term solvency. (9)Current ratio suggests the company's ability to pay back its short-term liabilities (debt and payables) with its short-term assets (cash, inventory, receivables). In general, the current ratio in 2-3, the quick ratio is more than 1, current ratio is relatively good. (10) Number of times interest earned is a metric used to measure a company's ability to meet its debt obligations. Generally, the higher the number of times interest earned, the more ability the company has to pay its long-term debts. 14、The column of “Ranking higher/lower” illustrates with signs, of which an upward arrow means the company ranks higher than before and a downward arrow means the opposite; a bar means staying unchanged while an arrow pointing right means the company is a new entrant to the rankings. 14
  15. 15. HRoot2014全球人力资源服务机构50强 HRoot Global 50 Human Resources Service Providers 2014 (by Country) 15
  16. 16. HRoot Global 50 Human Resources Service Providers 2014 (by Country) 16 3 5 8 9 10 13 15 16 20 21 23 25 27 28 30 32 33 34 36 39 40 41 42 43 50 3 4 7 9 11 13 16 17 22 23 26 25 24 32 30 53 34 29 33 35 40 37 44 42 48 ManpowerGroup ADP KELLY Robert Half MERCER TOWERS WATSON PAYCHEX Insperity TRUEBLUE On Assignment Linkedin KFORCE CDI Corporation KORN/FERRY INTERNATIONAL KRONOS CEB Monster Hudson BBSI HEIDRICK&STRUGGLES workday Ultimate SOFTWARE Dice Holdings HR service outsourcing Talent dispatch/lease/ placement HR consulting HR consulting HR service outsourcing HR service outsourcing Online recruitment Headhunting & RPO Headhunting & RPO Workforce Management Other Online recruitment HR Management Cousulting/Headhunting & RPO HR consulting HR service outsourcing Headhunting & RPO Online recruitment — ↓ ↓ — ↑ — ↑ ↑ ↑ ↑ ↑ — ↓ ↑ — ↑ ↑ ↓ ↓ ↓ — ↓ ↑ ↓ ↓ 20,250 11,310 5,413 4,246 4,241 3,597 2,326 2,256 1,669 1,632 1,529 1,152 1,088 996 975 820 820 808 660 556 533 481 469 410 214 -2.1% 6.5% -0.7% 3.3% 2.3% 5.2% 4.3% 4.5% 20.1% 31.6% 57.2% 6.5% -1.5% 20.4% 12.1% 31.6% 28.1% -9.3% -15.1% -2.7% 32.3% 3.3% 71.3% 23.5% 9.3% 512 2,084 53 398 / 472 905 56 60 124 48 21 21 92 / 91 11 33 -27 40 24 16 -153 43 30 2.5% 18.4% 1.0% 9.4% / 13.1% 38.9% 2.5% 3.6% 7.6% 3.1% 1.8% 1.9% 9.2% / 11.1% 1.3% 4.1% -4.1% 7.1% 4.6% 3.2% -32.7% 10.5% 14.1% CORPORATE RESOURCE SERVICES RESOURCES GLOBAL PROFESSIONALS Ranking higher/ lower Rank 2014 Rank 2013 Company Logo Country Main business Total revenue in Fiscal 2013 ($ million) Annual revenue growth rate Operating profit in Fiscal 2013 ($ million) Operating margin in Fiscal 2013 Talent dispatch/lease/ placement Talent dispatch/lease/ placement Talent dispatch/lease/ placement Talent dispatch/lease/ placement Talent dispatch/lease/ placement Talent dispatch/lease/ placement HR management software HR management software
  17. 17. HRoot Global 50 Human Resources Service Providers 2014 (by Country) 17 7 11 19 22 26 29 31 37 44 45 6 10 18 20 36 27 28 / / 45 HAYS Aon Hewitt IMPELLAM GROUP PageGroup HARVEY NASH sthree ROBERT WALTERS Staffline Group Empresaria Group hydrogen Headhunting & RPO HR service outsourcing/ HR consulting HR service outsourcing Headhunting & RPO Headhunting & RPO Headhunting & RPO Headhunting & RPO Recruitment Process Outsourcing Headhunting & RPO Headhunting & RPO ↓ ↓ ↓ ↓ ↑ ↓ ↓ → → — 5,781 4,057 1,886 1,572 1,090 992 935 651 304 284 -0.2% 3.4% -1.8% 0.2% 17.2% 8.4% 3.9% 13.4% 0.03% 7.3% 196 318 45 107 11 25 17 20 9 4 3.4% 7.8% 2.4% 6.8% 1.0% 2.5% 1.8% 3.1% 2.8% 1.4% 9.9% 5.1% 1.5% 9.3% 4 12 17 35 5 14 15 31 RECRUIT TEMP HOLDINGS PASONA MEITEC HR service outsourcing Headhunting & RPO ↑ ↑ ↓ ↓ 12,154 3,697 2,128 764 20.5% 19.7% -6.2% -8.7% 1,198 190 33 71 24 38 46 48 21 39 41 43 CHANDLER MACLEOD seek bluestone Clarius Group HR service outsourcing Online recruitment Headhunting & RPO Headhunting & RPO ↓ ↑ ↓ ↓ 1,504 627 281 225 -2.9% 36.0% -16.0% -17.6% / 314 -55 -41 / 50.0% -19.6% -18.2% Ranking higher/ lower Rank 2014 Rank 2013 Company Logo Country Main business Total revenue in Fiscal 2013 ($ million) Annual revenue growth rate Operating profit in Fiscal 2013 ($ million) Operating margin in Fiscal 2013 Ranking higher/ lower Rank 2014 Rank 2013 Company Logo Country Main business Total revenue in Fiscal 2013 ($ million) Annual revenue growth rate Operating profit in Fiscal 2013 ($ million) Operating margin in Fiscal 2013 Ranking higher/ lower Rank 2014 Rank 2013 Company Logo Country Main business Total revenue in Fiscal 2013 ($ million) Annual revenue growth rate Operating profit in Fiscal 2013 ($ million) Operating margin in Fiscal 2013 Talent dispatch/lease/ placement Talent dispatch/lease/ placement
  18. 18. HRoot Global 50 Human Resources Service Providers 2014 (by Country) Ranking higher/ lower Rank 2014 Rank 2013 Company Logo Country Main business Total revenue in Fiscal 2013 ($ million) Annual revenue growth rate Operating profit in Fiscal 2013 ($ million) Operating margin in Fiscal 2013 Ranking higher/ lower Rank 2014 Rank 2013 Company Logo Country Main business Total revenue in Fiscal 2013 ($ million) Annual revenue growth rate Operating profit in Fiscal 2013 ($ million) Operating margin in Fiscal 2013 — 25,898 -1.9% 1,034 4.0% Company Logo Country Main business Company Logo Country Main business Company Logo Country Main business 18 6 47 8 46 CIIC www.51job.com HR service outsourcing Online recruitment ↑ ↓ 6,598 277 23.7% 15.6% 88 81 1.3% 29.1% 1 1 Adecco Talent dispatch/lease/ placement Talent dispatch/lease/ placement Talent dispatch/lease/ placement Rank 2014 2 14 Rank 2013 2 12 randstad usg people Ranking higher/ lower — ↓ Total revenue in Fiscal 2013 ($ million) 22,001 3,014 Annual revenue growth rate 0.2% -18.4% Operating profit in Fiscal 2013 ($ million) 486 55 Operating margin in Fiscal 2013 2.2% 1.8% Ranking higher/ lower Rank 2014 Rank 2013 Total revenue in Fiscal 2013 ($ million) Annual revenue growth rate Operating profit in Fiscal 2013 ($ million) Operating margin in Fiscal 2013 ↑ 18 19 SYNERGIE Headhunting & RPO 2,018 8.4% 75 3.7% Rank 2014 Rank 2013 49 47 HRnet Group Head-Hunting/Talent Acquisition/Lease and Talent Management & Retention Ranking higher/ lower Total revenue in Fiscal 2013 ($ million) Annual revenue growth rate Operating profit in Fiscal 2013 ($ million) Operating margin in Fiscal 2013 ↓ 220 2.7% 26 11.8%
  19. 19. 19
  20. 20. HRoot Global 50 Human Resources Service Providers 2014 (by Industry) 20 7 18 22 25 26 28 29 31 35 36 37 41 44 45 46 48 49 6 19 20 25 36 32 27 28 31 33 / 37 / 45 41 43 47 HAYS SYNERGIE PageGroup KFORCE HARVEY NASH sthree ROBERT WALTERS MEITEC Hudson Staffline Group EIDRICK&STRUGGLES Empresaria Group hydrogen bluestone Clarius Group HRnet Group Headhunting & RPO Headhunting & RPO Headhunting & RPO Headhunting & RPO Headhunting & RPO Headhunting & RPO Headhunting & RPO Headhunting & RPO Headhunting & RPO Headhunting & RPO Headhunting & RPO Headhunting & RPO Headhunting & RPO Headhunting & RPO ↓ ↑ ↓ — ↑ ↑ ↓ ↓ ↓ ↓ → ↓ → — ↓ ↓ ↓ 5,781 2,018 1,572 1,152 1,090 996 992 935 764 660 651 481 304 284 281 225 220 -0.2% 8.4% 0.2% 6.5% 17.2% 20.4% 8.4% 3.9% -8.7% -15.1% 13.4% 3.3% 0.03% 7.3% -16.0% -17.6% 2.7% 196 75 107 21 11 92 25 17 71 -27 20 16 9 4 -55 -41 26 3.4% 3.7% 6.8% 1.8% 1.0% 9.2% 2.5% 1.8% 9.3% -4.1% 3.1% 3.2% 2.8% 1.4% -19.6% -18.2% 11.8% Ranking higher/ lower Rank 2014 Rank 2013 Company Logo Country Main business Total revenue in Fiscal 2013 ($ million) Annual revenue growth rate Operating profit in Fiscal 2013 ($ million) Operating margin in Fiscal 2013 KORN/FERRY INTERNATIONAL Talent Management Consulting/Headhunting & RPO Recruitment Process Outsourcing Head-Hunting/Talent Acquisition/Lease and Talent Management & Retention
  21. 21. HRoot Global 50 Human Resources Service Providers 2014 (by Industry) 21 1 2 3 4 8 9 14 17 20 21 27 33 1 2 3 5 7 9 12 15 22 23 24 34 Adecco randstad ManpowerGroup RECRUIT KELLY Robert Half usg people PASONA TRUEBLUE On Assignment CDI Corporation — — — ↑ ↓ — ↓ ↓ ↑ ↑ ↓ ↑ 25,898 22,001 20,250 12,154 5,413 4,246 3,014 2,128 1,669 1,632 1,088 820 -1.9% 0.2% -2.1% 20.5% -0.7% 3.3% -18.4% -6.2% 20.1% 31.6% -1.5% 28.1% 1,034 486 512 1,198 53 398 55 33 60 124 21 11 4.0% 2.2% 2.5% 9.9% 1.0% 9.4% 1.8% 1.5% 3.6% 7.6% 1.9% CORPORATE 1.3% RESOURCE SERVICES 5 6 12 15 16 19 24 40 4 8 14 16 17 18 21 40 ADP CIIC TEMP HOLDINGS PAYCHEX Insperity IMPELLAM GROUP CHANDLER MACLEOD BBSI HR service outsourcing HR service outsourcing HR service outsourcing HR service outsourcing HR service outsourcing HR service outsourcing HR service outsourcing HR service outsourcing ↓ ↑ ↑ ↑ ↑ ↓ ↓ — 11,310 6,598 3,697 2,326 2,256 1,886 1,504 533 6.5% 23.7% 19.7% 4.3% 4.5% -1.8% -2.9% 32.3% 2,084 88 190 905 56 45 / 24 18.4% 1.3% 5.1% 38.9% 2.5% 2.4% / 4.6% Ranking higher/ lower Rank 2014 Rank 2013 Company Logo Country Main business Total revenue in Fiscal 2013 ($ million) Annual revenue growth rate Operating profit in Fiscal 2013 ($ million) Operating margin in Fiscal 2013 Ranking higher/ lower Rank 2014 Rank 2013 Company Logo Country Main business Total revenue in Fiscal 2013 ($ million) Annual revenue growth rate Operating profit in Fiscal 2013 ($ million) Operating margin in Fiscal 2013 Talent dispatch/lease/ placement Talent dispatch/lease/ placement Talent dispatch/lease/ placement Talent dispatch/lease/ placement Talent dispatch/lease/ placement Talent dispatch/lease/ placement Talent dispatch/lease/ placement Talent dispatch/lease/ placement Talent dispatch/lease/ placement Talent dispatch/lease/ placement Talent dispatch/lease/ placement Talent dispatch/lease/ placement
  22. 22. HRoot Global 50 Human Resources Service Providers 2014 (by Industry) Ranking higher/ lower Rank 2014 Rank 2013 Company Logo Country Main business — Workforce Management HR management software HR management software Company Logo Country Main business Talent Management Consulting/Headhunting & RPO Total revenue in Fiscal 2013 ($ million) Annual revenue growth rate Operating profit in Fiscal 2013 ($ million) Total revenue in Fiscal 2013 ($ million) Annual revenue growth rate Operating profit in Fiscal 2013 ($ million) RESOURCES GLOBAL 40 PROFESSIONALS Company Logo Country Main business Company Logo Country Main business 22 Operating margin in Fiscal 2013 / -32.7% 10.5% 30 42 43 30 44 42 KRONOS workday Ultimate SOFTWARE ↑ ↓ 975 469 410 12.1% 71.3% 23.5% / -153 43 Operating margin in Fiscal 2013 / 7.8% 13.1% -4.1% 7.1% Operating margin in Fiscal 2013 3.1% 4.1% 50.0% 29.1% 14.1% Rank 2014 10 11 13 36 39 Rank 2014 23 34 38 47 50 Rank 2013 11 10 13 33 35 Rank 2013 26 29 39 46 48 MERCER Aon Hewitt TOWERS WATSON Hudson Linkedin Monster seek www.51job.com Dice Holdings HR consulting HR consulting HR consulting HR consulting Online recruitment Online recruitment Online recruitment Online recruitment Online recruitment Ranking higher/ lower ↑ ↓ — ↓ ↓ Ranking higher/ lower ↑ ↓ ↑ ↓ ↓ 4,241 4,057 3,597 660 556 Total revenue in Fiscal 2013 ($ million) 1,529 808 627 277 214 2.3% 3.4% 5.2% -15.1% -2.7% Annual revenue growth rate 57.2% -9.3% 36.0% 15.6% 9.3% / 318 472 -27 Operating profit in Fiscal 2013 ($ million) 48 33 314 81 30 Ranking higher/ lower Rank 2014 Rank 2013 Total revenue in Fiscal 2013 ($ million) Annual revenue growth rate Operating profit in Fiscal 2013 ($ million) Operating margin in Fiscal 2013 ↑ 32 53 CEB Other 820 31.6% 91 11.1%
  23. 23. 23
  24. 24. HRoot Global 50 Human Resources Service Providers 2014( R a n k e d b y A n n u a l ) 24 42 23 38 40 21 32 33 6 43 4 28 20 12 26 47 37 30 50 18 29 45 5 25 13 16 44 26 39 40 23 53 34 8 42 5 32 22 14 36 46 / 30 48 19 27 45 4 25 13 17 workday Linkedin seek BBSI On Assignment CEB CIIC Ultimate SOFTWARE RECRUIT TRUEBLUE TEMP HOLDINGS HARVEY NASH www.51job.com Staffline Group KRONOS Dice Holdings SYNERGIE sthree hydrogen ADP KFORCE TOWERS WATSON Insperity Online recruitment Online recruitment HR service outsourcing Other Other HR management software Headhunting & RPO HR service outsourcing Online recruitment Workforce Management Online recruitment Headhunting & RPO Headhunting & RPO Headhunting & RPO HR service outsourcing Headhunting & RPO HR consulting HR service outsourcing 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 469 1,529 627 533 1,632 820 820 6,598 410 12,154 996 1,669 3,697 1,090 277 651 975 214 2,018 992 284 11,310 1,152 3,597 2,256 274 972 461 403 1,240 623 640 5,333 332 10,083 827 1,390 3,090 930 240 574 870 195 1,862 915 265 10,616 1,082 3,420 2,159 71.3% 57.2% 36.0% 32.3% 31.6% 31.6% 28.1% 23.7% 23.5% 20.5% 20.4% 20.1% 19.7% 17.2% 15.6% 13.4% 12.1% 9.3% 8.4% 8.4% 7.3% 6.5% 6.5% 5.2% 4.5% CORPORATE RESOURCE SERVICES KORN/FERRY INTERNATIONAL Revenue Growth Rate Rank Rank 2014 Rank 2013 Company Logo Country Main business Total revenue in Fiscal 2013 ($ million) Total revenue in Fiscal 2012 ($ million) Annual revenue growth rate HR management software Talent dispatch/lease/ placement Talent dispatch/lease/ placement Talent dispatch/lease/ placement Talent dispatch/lease/ placement HR service outsourcing/ HR consulting Recruitment Process Outsourcing
  25. 25. HRoot Global 50 Human Resources Service Providers 2014( R a n k e d b y A n n u a l ) 25 15 31 11 41 9 49 10 22 2 44 7 8 27 19 1 3 39 24 17 35 34 36 46 48 14 16 28 10 37 9 47 11 20 2 / 6 7 24 18 1 3 35 21 15 31 29 33 41 43 12 PAYCHEX ROBERT WALTERS Aon Hewitt HEIDRICK&STRUGGLES Robert Half HRnet Group MERCER PageGroup randstad Empresaria Group HAYS KELLY CDI Corporation IMPELLAM GROUP Adecco ManpowerGroup CHANDLER MACLEOD PASONA MEITEC Monster Hudson bluestone Clarius Group usg people HR service outsourcing Headhunting & RPO HR service outsourcing/ HR consulting Headhunting & RPO Head-Hunting, Talent Acquisition, Lease and Talent Management & Retention HR consulting Headhunting & RPO Headhunting & RPO Headhunting & RPO Talent dispatch/lease/ placement HR service outsourcing HR consulting HR service outsourcing Talent dispatch/lease/ placement Headhunting & RPO Online recruitment Headhunting & RPO Headhunting & RPO 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 2,326 935 4,057 481 4,246 220 4,241 1,572 22,001 304 5,781 5,413 1,088 1,886 25,898 20,250 556 1,504 2,128 764 808 660 281 225 3,014 2,230 900 3,925 466 4,111 214 4,147 1,569 21,959 304 5,794 5,451 1,105 1,920 26,391 20,678 572 1,549 2,269 837 890 778 334 273 3,696 4.3% 3.9% 3.4% 3.3% 3.3% 2.7% 2.3% 0.2% 0.2% 0.03% -0.2% -0.7% -1.5% -1.8% -1.9% -2.1% -2.7% -2.9% -6.2% -8.7% -9.3% -15.1% -16.0% -17.6% -18.4% RESOURCES GLOBAL PROFESSIONALS Revenue Growth Rate Rank Rank 2014 Rank 2013 Company Logo Country Main business Total revenue in Fiscal 2013 ($ million) Total revenue in Fiscal 2012 ($ million) Annual revenue growth rate Talent dispatch/lease/ placement Talent dispatch/lease/ placement Talent dispatch/lease/ placement Talent dispatch/lease/ placement Talent dispatch/lease/ placement Talent Management Consulting/Headhunting & RPO Talent dispatch/lease/ placement
  26. 26. HRoot2014全球人力资源服务机构50强 HRoot Global 50 Human Resources Service Providers 2014( R a n k e d b y ) 26 Operating Margin
  27. 27. HRoot Global 50 Human Resources Service Providers 2014( R a n k e d b y ) 27 Operating Margin 38 15 47 5 50 13 49 32 43 4 9 35 28 11 21 39 22 12 40 34 1 18 20 7 41 39 16 46 4 48 13 47 53 42 5 9 31 32 10 23 35 20 14 40 29 1 19 22 6 37 seek PAYCHEX www.51job.com ADP Dice Holdings TOWERS WATSON HRnet Group CEB Ultimate SOFTWARE RECRUIT Robert Half MEITEC Aon Hewitt On Assignment PageGroup TEMP HOLDINGS BBSI Monster Adecco SYNERGIE TRUEBLUE HAYS HEIDRICK&STRUGGLES Online recruitment HR service outsourcing Online recruitment HR service outsourcing Online recruitment HR consulting Other Talent dispatch/lease/ placement Headhunting & RPO Headhunting & RPO HR consulting Headhunting & RPO HR service outsourcing HR service outsourcing Online recruitment Headhunting & RPO Headhunting & RPO Headhunting & RPO 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 627 2,326 277 11,310 214 3,597 220 820 410 12,154 4,246 764 996 4,057 1,632 556 1,572 3,697 533 808 25,898 2,018 1,669 5,781 481 314 905 81 2,084 30 472 26 91 43 1,198 398 71 92 318 124 40 107 190 24 33 1,034 75 60 196 16 50.0% 38.9% 29.1% 18.4% 14.1% 13.1% 11.8% 11.1% 10.5% 9.9% 9.4% 9.3% 9.2% 7.8% 7.6% 7.1% 6.8% 5.1% 4.6% 4.1% 4.0% 3.7% 3.6% 3.4% 3.2% Rank Rank 2014 Rank 2013 Company Logo Country Main business Total revenue in Fiscal 2013 ($ million) Total profit in Fiscal 2013 ($ million) Operating margin KORN/FERRY INTERNATIONAL RESOURCES GLOBAL PROFESSIONALS Head-Hunting, Talent Acquisition, Lease and Talent Management & Retention HR management software Talent dispatch/lease/ placement HR service outsourcing/ HR consulting Talent dispatch/lease/ placement Talent dispatch/lease/ placement Talent dispatch/lease/ placement
  28. 28. HRoot Global 50 Human Resources Service Providers 2014( R a n k e d b y ) 28 Linkedin Staffline Group Empresaria Group ManpowerGroup Insperity sthree IMPELLAM GROUP randstad CDI Corporation KFORCE usg people ROBERT WALTERS PASONA hydrogen CIIC HARVEY NASH KELLY Hudson Clarius Group bluestone workday MERCER CHANDLER MACLEOD KRONOS 23 37 44 3 16 29 19 2 27 25 14 31 17 45 6 33 26 8 36 48 46 42 10 24 30 26 / / 3 17 27 18 2 24 25 12 28 15 45 8 34 36 7 33 43 41 44 11 21 30 Online recruitment Headhunting & RPO HR service outsourcing Headhunting & RPO HR service outsourcing Headhunting & RPO Headhunting & RPO Headhunting & RPO HR service outsourcing Headhunting & RPO Talent dispatch/lease/ placement Talent Management Consulting/Headhunting & RPO Headhunting & RPO Headhunting & RPO HR consulting HR service outsourcing Workforce Management 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 1,529 651 304 20,250 2,256 992 1,886 22,001 1,088 1,152 3,014 935 2,128 284 6,598 820 1,090 5,413 660 225 281 469 4,241 1,504 975 48 20 9 512 56 25 45 486 21 21 55 17 33 4 88 11 11 53 -27 -41 -55 -153 / / / 3.1% 3.1% 3.0% 2.5% 2.5% 2.5% 2.4% 2.2% 1.9% 1.8% 1.8% 1.8% 1.5% 1.4% 1.3% 1.3% 1.0% 1.0% -4.1% -18.2% -19.6% -32.7% / / / CORPORATE RESOURCE SERVICES Operating Margin Rank Rank 2014 Rank 2013 Company Logo Country Main business Total revenue in Fiscal 2013 ($ million) Total profit in Fiscal 2013 ($ million) Operating margin Recruitment Process Outsourcing Talent dispatch/lease/ placement Talent dispatch/lease/ placement Talent dispatch/lease/ placement Talent dispatch/lease/ placement Talent dispatch/lease/ placement Talent dispatch/lease/ placement HR management software
  29. 29. HRoot2014全球人力资源服务机构50强 HRoot Global 50 Human Resources Service Providers 2014( R a n k e d b y ) 29 Revenue per Capital
  30. 30. HRoot Global 50 Human Resources Service Providers 2014( R a n k e d b y ) 30 6 26 27 33 16 18 1 3 37 2 45 7 8 21 14 48 20 25 24 4 29 31 52 36 12 8 36 24 34 17 19 1 3 / 2 45 6 7 23 12 43 22 25 21 5 27 28 38 33 14 CIIC HARVEY NASH CDI Corporation Insperity SYNERGIE Adecco ManpowerGroup Staffline Group randstad hydrogen HAYS KELLY On Assignment usg people Clarius Group TRUEBLUE KFORCE CHANDLER MACLEOD RECRUIT sthree ROBERT WALTERS FULLCAST HLDGS Hudson TEMP HOLDINGS HR service outsourcing Headhunting & RPO HR service outsourcing HR service outsourcing Headhunting & RPO Other Recruitment Process Outsourcing Headhunting & RPO Headhunting & RPO Recruitment Process Outsourcing HR service outsourcing/ HR consulting Headhunting & RPO Headhunting & RPO HR service outsourcing Headhunting & RPO Headhunting & RPO HR service outsourcing HR service outsourcing 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 1,813 1,331 1,209 1,025 981 841 835 810 797 785 741 737 668 604 596 563 522 443 442 434 426 405 394 388 348 6,598 1,090 1,088 820 2,256 2,018 25,898 20,250 651 22,001 284 5,781 5,413 1,632 3,014 225 1,669 1,152 1,504 12,154 992 935 178 660 3,697 3,640 819 900 800 2,300 2,400 31,000 25,000 817 28,030 383 7,840 8,100 2,700 5,057 400 3,200 2,600 3,400 28,000 2,327 2,307 452 1,700 10,629 CORPORATE RESOURCE SERVICES Revenue per Capital Rank Rank 2014 Rank 2013 Company Logo Country Main business Total revenue in Fiscal 2013 ($ million) Employee Number Revenue per Capital($'000) Talent dispatch/lease/ placement Talent dispatch/lease/ placement Talent dispatch/lease/ placement Talent dispatch/lease/ placement Talent dispatch/lease/ placement Talent dispatch/lease/ placement Talent Management Consulting/Headhunting & RPO
  31. 31. 31 17 9 41 19 22 23 28 54 30 50 13 61 43 32 10 34 39 5 15 51 42 56 58 57 35 15 9 37 18 20 26 32 / 30 48 13 57 42 53 11 29 35 4 16 49 44 50 54 51 31 PASONA Robert Half HEIDRICK&STRUGGLES IMPELLAM GROUP PageGroup Linkedin KORN/FERRY INTERNATIONAL KRONOS Dice Holdings TOWERS WATSON PRIME PEOPLE Ultimate SOFTWARE CEB MERCER Monster RESOURCES GLOBAL PROFESSIONALS ADP PAYCHEX workday ClickSoftware ATA 104 Job Bank MEITEC Headhunting & RPO HR service outsourcing Headhunting & RPO Online recruitment Headhunting & RPO Headhunting & RPO Workforce Management Online recruitment HR consulting Headhunting & RPO Other HR consulting Online recruitment HR consulting HR service outsourcing HR service outsourcing Online recruitment Headhunting & RPO 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 337 327 321 314 306 303 293 292 287 283 248 247 215 210 209 202 191 189 188 188 180 171 136 128 125 2,128 4,246 481 1,886 1,572 1,529 996 134.3 975 214 3,597 23 410 820 4,241 808 556 11,310 2,326 185 469 103 61.8 74 764 6,316 13,000 1,499 6,000 5,130 5,045 3,396 460 3,400 755 14,500 91 1,913 3,900 20,300 4,000 2,915 60,000 12,400 987 2,600 602 454 579 6,114 CTPARTNERS EXECUTIVE SEARCH Cornerstone ONDEMAND HRoot Global 50 Human Resources Service Providers 2014( R a n k e d b y ) Revenue per Capital Rank Rank 2014 Rank 2013 Company Logo Country Main business Total revenue in Fiscal 2013 ($ million) Employee Number Revenue per Capital($'000) Talent dispatch/lease/ placement Talent dispatch/lease/ placement HR management software HR management software HR management software HR management software Talent Assessment / Testing Service
  32. 32. HRoot Global 50 Human Resources Service Providers 2014( R a n k e d b y ) 32 38 47 60 53 40 39 46 56 / 40 seek www.51job.com DLH zhaopin.com BBSI Online recruitment Online recruitment HR service outsourcing Online recruitment HR service outsourcing 51 52 53 54 55 105 50 45 38 7 627 277 54 145 533 6,000 5,499 1,200 3800 79,315 Revenue per Capital Rank Rank 2014 Rank 2013 Company Logo Country Main business Total revenue in Fiscal 2013 ($ million) Employee Number Revenue per Capital($'000)
  33. 33. HRoot2014全球人力资源服务机构50强 HRoot Global 50 Human Resources Service Providers 2014( R a n k e d b y O p e ra t in g ) 33 Profit per Capital
  34. 34. HRoot Global 50 Human Resources Service Providers 2014( R a n k e d b y O p e ra t in g ) 34 Profit per Capital 15 21 4 50 5 1 13 18 9 28 7 37 16 6 32 27 43 22 3 20 12 61 2 57 47 16 23 5 48 4 1 13 19 9 32 6 / 17 8 53 24 42 20 3 22 14 57 2 51 46 PAYCHEX On Assignment RECRUIT Dice Holdings ADP Adecco TOWERS WATSON SYNERGIE Robert Half HAYS Staffline Group Insperity CIIC CEB CDI Corporation Ultimate SOFTWARE PageGroup ManpowerGroup TRUEBLUE TEMP HOLDINGS PRIME PEOPLE randstad 104 Job Bank www.51job.com HR service outsourcing HR service outsourcing HR service outsourcing Talent dispatch/lease/ placement HR consulting Other Headhunting & RPO Headhunting & RPO Recruitment Process Outsourcing HR service outsourcing HR service outsourcing/ HR consulting Other HR management software Headhunting & RPO HR service outsourcing Headhunting & RPO Online recruitment Online recruitment 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 73 46 43 40 35 33 33 31 31 27 25 24 24 24 23 23 23 21 20 19 18 18 17 17 15 905 124 1,198 30 2,084 1,034 472 75 398 92 196 20 56 88 91 21 43 107 512 60 190 2 486 10 81 12,400 2,700 28,000 755 60,000 31,000 14,500 2,400 13,000 3,396 7,840 817 2,300 3,640 3,900 900 1,913 5,130 25,000 3,200 10,629 91 28,030 579 5,499 Rank Rank 2014 Rank 2013 Company Logo Country Main business Operating Profit in Fiscal 2013 ($ million) Employee Number Operating Profit per Capital($'000) KORN/FERRY INTERNATIONAL Talent dispatch/lease/ placement Talent dispatch/lease/ placement Talent dispatch/lease/ placement Talent dispatch/lease/ placement Talent dispatch/lease/ placement Talent dispatch/lease/ placement Talent dispatch/lease/ placement
  35. 35. HRoot Global 50 Human Resources Service Providers 2014( R a n k e d b y O p e ra t in g ) 35 Profit per Capital 58 39 26 33 35 14 29 41 45 23 38 53 34 25 52 19 31 8 17 44 60 54 56 36 51 54 35 36 34 31 12 27 37 45 26 39 / 29 25 38 18 28 7 15 / 56 / 50 33 49 ATA RESOURCES GLOBAL PROFESSIONALS HARVEY NASH MEITEC usg people sthree HEIDRICK&STRUGGLES hydrogen Linkedin seek zhaopin.com Monster KFORCE FULLCAST HLDGS IMPELLAM GROUP ROBERT WALTERS KELLY PASONA Empresaria Group DLH ClickSoftware Hudson HR consulting Headhunting & RPO Headhunting & RPO Headhunting & RPO Headhunting & RPO Headhunting & RPO Online recruitment Online recruitment Online recruitment Online recruitment Headhunting & RPO HR service outsourcing HR service outsourcing Headhunting & RPO Headhunting & RPO HR service outsourcing Headhunting & RPO 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 15 14 14 13 12 11 11 10 10 9 9 9 8 8 8 7 7 7 5 1 0.2 -6 -10 -16 -34 6.7 40 11 11 71 55 25 16 4 48 52 34 33 21 3 45 17 53 33 9 0.2 -2.7 -6 -27 -34 454 2,915 819 800 6,114 5,057 2,327 1,499 383 5,045 6,000 3800 4,000 2,600 452 6,000 2,307 8,100 6,316 6000 1,200 460 602 1,700 987 CORPORATE RESOURCE SERVICES CTPartners Executive Search Cornerstone ONDEMAND Rank Rank 2014 Rank 2013 Company Logo Country Main business Operating Profit in Fiscal 2013 ($ million) Employee Number Operating Profit per Capital($'000) Talent Assessment / Testing Service Talent dispatch/lease/ placement Talent dispatch/lease/ placement Talent dispatch/lease/ placement Talent dispatch/lease/ placement HR management software Talent Management Consulting/Headhunting & RPO HR management software
  36. 36. HRoot Global 50 Human Resources Service Providers 2014( R a n k e d b y O p e ra t in g ) Company Logo Country Main business 36 Profit per Capital Rank Rank 2014 42 48 Rank 2013 44 43 workday HR management software Clarius Group Headhunting & RPO 51 52 Operating Profit per Capital($'000) -59 -103 Operating Profit in Fiscal 2013 ($ million) -153 -41 Employee Number 2,600 400 Notes: Failure to collect or obtain some companies' employees number in fiscal year 2013 ,So these compaies are not included in HRoot Global 50 Human Resources Service Providers 2014(Ranked by Revenue per Capital)and HRoot Global 50 Human Resources Service Providers 2014(Ranked by Operating Profit per Capital).
  37. 37. HRoot Global 50 Human Resources Service Providers 2014 (Ranked by Annual Revenue Growth Rate of Main Business) 37
  38. 38. Industry Company LOGO Country 38 Rank 2014 Annual revenue growth rate Compared with industry average 32.3% 23.7% 19.7% 6.5% 4.5% 4.3% -1.8% -2.9% 32% 28% 21% 20% 3% 0.2% -1% -2% -2% -2% -6% -18% 20.4% 17.2% 13.4% 8.4% 8.4% Higher Higher Higher Higher Higher Higher Lower Lower Higher Higher Higher Higher Lower Lower Lower Lower Lower Lower Lower Lower Higher Higher Higher Higher Higher BBSI CIIC TEMP HOLDINGS ADP Insperity PAYCHEX IMPELLAM GROUP CHANDLER MACLEOD On Assignment CORPORATE RESOURCE SERVICES RECRUIT TRUEBLUE Robert Half randstad KELLY Adecco CDI Corporation ManpowerGroup PASONA usg people KORN/FERRY INTERNATIONAL HARVEY NASH Staffline Group SYNERGIE sthree 40 6 12 5 16 15 19 24 21 33 4 20 9 2 8 1 27 3 17 14 28 26 37 18 29 HR service outsourcing Talent dispatch/ lease/placement Headhunting & RPO HRoot Global 50 Human Resources Service Providers 2014 (Ranked by Annual Revenue Growth Rate of Main Business)
  39. 39. Industry Company LOGO Country 39 Rank 2014 Annual revenue growth rate Compared with industry average 7.3% 6.5% 3.9% 3.3% 2.7% 0.2% 0.03% -0.2% -8.7% -15.1% -16.0% -17.6% 71% 24% 12% 57.2% 36.0% 15.6% 9.3% -9.3% 5% 3% 2% -3% Higher Higher Higher Higher Higher Lower Lower Lower Lower Lower Lower Lower Higher Lower Lower Higher Higher Higher Lower Lower Higher Higher Equal Lower hydrogen KFORCE ROBERT WALTERS HEIDRICK&STRUGGLES HRnet Group PageGroup Empresaria Group HAYS MEITEC Hudson bluestone Clarius Group workday Ultimate SOFTWARE KRONOS Linkedin seek www.51job.com Dice Holdings Monster TOWERS WATSON Aon Hewitt MERCER RESOURCES GLOBAL PROFESSIONALS 45 25 31 41 49 22 44 7 35 36 46 48 42 43 30 23 38 47 50 34 13 11 10 39 Headhunting & RPO HR management software Online recruitment HR consulting HRoot Global 50 Human Resources Service Providers 2014 (Ranked by Annual Revenue Growth Rate of Main Business)
  40. 40. HRoot Global 50 Human Resources Service Providers 2014 (Ranked by Total Asset Turnover Ratio of Main Business) 40
  41. 41. 41 7.9 4.1 3.4 3.0 2.4 2.0 0.4 0.4 8.6 3.2 3.0 2.8 2.7 2.6 2.5 2.5 2.1 1.8 1.4 1.4 6.8 6.4 4.4 4.2 3.8 Higher Higher Higher Higher Lower Lower Lower Lower Higher Higher Higher Lower Lower Lower Lower Lower Lower Lower Lower Lower Higher Higher Higher Higher Higher CIIC CHANDLER MACLEOD IMPELLAM GROUP Insperity TEMP HOLDINGS BBSI ADP PAYCHEX CORPORATE RESOURCE SERVICES KELLY Robert Half ManpowerGroup CDI Corporation PASONA TRUEBLUE randstad Adecco usg people RECRUIT On Assignment Staffline Group Empresaria Group HARVEY NASH HAYS sthree Rank 2014 6 24 19 16 12 40 5 15 33 8 9 3 27 17 20 2 1 14 4 21 37 44 26 7 29 HR service outsourcing HRoot Global 50 Human Resources Service Providers 2014 (Ranked by Total Asset Turnover Ratio of Main Business) Industry Company LOGO Country Total asset turnover ratio Compared with industry average Talent dispatch/ lease/placement Headhunting & RPO
  42. 42. 42 3.7 3.7 3.4 3.1 3.0 2.8 2.6 1.8 1.1 0.9 0.9 / 0.7 0.3 / 0.6 0.6 0.5 0.5 0.3 1.3 0.7 / / Higher Higher Higher Lower Lower Lower Lower Lower Lower Lower Lower / Equal Lower / Lower Lower Lower Lower Lower Higher Lower / / Hudson hydrogen KFORCE bluestone ROBERT WALTERS PageGroup Clarius Group HRnet Group MEITEC HEIDRICK&STRUGGLES KORN/FERRY INTERNATIONAL SYNERGIE Ultimate SOFTWARE workday KRONOS Linkedin Dice Holdings Monster www.51job.com seek RESOURCES GLOBAL PROFESSIONALS TOWERS WATSON Aon Hewitt MERCER Rank 2014 36 45 25 46 31 22 48 49 35 41 28 18 43 42 30 23 50 34 47 38 39 13 11 10 Headhunting & RPO HR management software Online recruitment HR consulting HRoot Global 50 Human Resources Service Providers 2014 (Ranked by Total Asset Turnover Ratio of Main Business) Industry Company LOGO Country Total asset turnover ratio Compared with industry average
  43. 43. HRoot2014全球人力资源服务机构50强 HRoot Global 50 Human Resources Service Providers 2014 (Ranked by Accounts Receivable Turnover Ratio of Main Business) 43
  44. 44. )3PPU(MPCBM)VNBO3FTPVSDFT4FSWJDF1SPWJEFST 3BOLFECZDDPVOUT3FDFJWBCMF5VSOPWFS3BUJPPG.BJO#VTJOFTT 12 / 44 6 121.6 32.8 11.3 9.2 7.5 7.1 5.3 16.0 9.1 9.0 8.0 7.2 6.5 5.8 5.6 5.3 4.8 4.8 / 13.6 12.4 12.3 10.2 8.0 15 16 24 5 40 19 33 20 14 9 4 21 2 1 8 27 3 17 44 37 41 28 7 CIIC PAYCHEX Insperity CHANDLER MACLEOD ADP BBSI IMPELLAM GROUP TEMP HOLDINGS TRUEBLUE usg people Robert Half RECRUIT On Assignment randstad Adecco KELLY CDI Corporation ManpowerGroup PASONA Empresaria Group Staffline Group HEIDRICKSTRUGGLES KORN/FERRY INTERNATIONAL HAYS *OEVTUSZ $PNQBOZ -0(0 $PVOUSZ 3BOL DDPVOUT SFDFJWBCMF UVSOPWFS SBUJP $PNQBSFE XJUIJOEVTUSZ BWFSBHF )3TFSWJDF PVUTPVSDJOH 5BMFOUEJTQBUDI MFBTFQMBDFNFOU )FBEIVOUJOH 310 CORPORATE RESOURCE SERVICES )JHIFS )JHIFS -PXFS -PXFS -PXFS -PXFS -PXFS )JHIFS )JHIFS )JHIFS )JHIFS -PXFS -PXFS -PXFS -PXFS -PXFS -PXFS -PXFS )JHIFS )JHIFS )JHIFS )JHIFS )JHIFS
  45. 45. 46 46 26 7.0 26 7.0 25 7.0 36 6.8 25 7.0 36 6.8 48 4.1 48 4.1 49 / 49 / 18 / 18 / 30 / 30 / 38 8.3 38 8.3 23 6.0 23 6.0 47 4.7 47 4.7 50 / 50 / RESOURCES GLOBAL PROFESSIONALS RESOURCES GLOBAL PROFESSIONALS 39 6.6 39 6.6 13 4.2 13 4.2 11 / 11 / 45 7.9 6.2 6.1 5.4 45 35 22 29 5.3 31 4.2 5.9 5.2 2.4 / 42 43 34 10 )3PPU(MPCBM)VNBO3FTPVSDFT4FSWJDF1SPWJEFST 3BOLFECZDDPVOUT3FDFJWBCMF5VSOPWFS3BUJPPG.BJO#VTJOFTT *OEVTUSZ $PNQBOZ -0(0 $PVOUSZ 3BOL DDPVOUT SFDFJWBCMF UVSOPWFS SBUJP $PNQBSFE XJUIJOEVTUSZ BWFSBHF )FBEIVOUJOH 310 )3 NBOBHFNFOU TPGUXBSF 0OMJOF SFDSVJUNFOU )3DPOTVMUJOH bluestone HARVEY NASH KFORCE Hudson hydrogen MEITEC PageGroup sthree ROBERT WALTERS Clarius Group HRnet Group SYNERGIE workday Ultimate SOFTWARE KRONOS seek Linkedin www.51job.com Monster Dice Holdings TOWERS WATSON Aon Hewitt MERCER RVBM -PXFS -PXFS -PXFS -PXFS -PXFS -PXFS -PXFS -PXFS -PXFS )JHIFS )JHIFS -PXFS -PXFS -PXFS -PXFS )JHIFS -PXFS 7.9 6.2 6.1 5.4 45 35 22 29 5.3 31 4.2 5.9 5.2 2.4 / 42 43 34 10 )3PPU(MPCBM)VNBO3FTPVSDFT4FSWJDF1SPWJEFST 3BOLFECZDDPVOUT3FDFJWBCMF5VSOPWFS3BUJPPG.BJO#VTJOFTT *OEVTUSZ $PNQBOZ -0(0 $PVOUSZ 3BOL DDPVOUT SFDFJWBCMF UVSOPWFS SBUJP $PNQBSFE XJUIJOEVTUSZ BWFSBHF )FBEIVOUJOH 310 )3 NBOBHFNFOU TPGUXBSF 0OMJOF SFDSVJUNFOU )3DPOTVMUJOH bluestone HARVEY NASH KFORCE Hudson hydrogen MEITEC PageGroup sthree ROBERT WALTERS Clarius Group HRnet Group SYNERGIE workday Ultimate SOFTWARE KRONOS seek Linkedin www.51job.com Monster Dice Holdings TOWERS WATSON Aon Hewitt MERCER RVBM -PXFS -PXFS -PXFS -PXFS -PXFS -PXFS -PXFS -PXFS -PXFS )JHIFS )JHIFS -PXFS -PXFS -PXFS -PXFS )JHIFS -PXFS
  46. 46. HRoot2014全球人力资源服务机构50强 HRoot Global 50 Human Resources Service Providers 2014 (Ranked by Return on Assets of Main Business) 46
  47. 47. $PNQBSFE XJUIJOEVTUSZ BWFSBHF )3TFSWJDF PVUTPVSDJOH 19 / 47 9.2% 7.9% 5.7% 5.6% 4.4% 4.2% 3.0% 16.9% 7.6% 6.7% 6.2% 6.0% 4.0% 3.5% 3.3% 3.2% 2.0% 0.7% / 9.0% 6.5% 5.9% 4.4% 3.1% 15 6 40 12 5 16 24 9 4 21 20 1 3 2 8 27 33 17 14 37 35 28 29 25 )3PPU(MPCBM)VNBO3FTPVSDFT4FSWJDF1SPWJEFST 3BOLFECZ3FUVSOPOTTFUTPG.BJO#VTJOFTT *OEVTUSZ $PNQBOZ -0(0 $PVOUSZ 3BOL 30 5BMFOUEJTQBUDI MFBTFQMBDFNFOU )FBEIVOUJOH 310 PAYCHEX CIIC BBSI TEMP HOLDINGS ADP Insperity CHANDLER MACLEOD IMPELLAM GROUP Robert Half RECRUIT On Assignment TRUEBLUE Adecco ManpowerGroup randstad KELLY CDI Corporation PASONA usg people Staffline Group MEITEC KORN/FERRY INTERNATIONAL sthree KFORCE )JHIFS )JHIFS )JHIFS )JHIFS -PXFS -PXFS -PXFS )JHIFS )JHIFS )JHIFS )JHIFS )JHIFS -PXFS -PXFS -PXFS -PXFS -PXFS -PXFS )JHIFS )JHIFS )JHIFS )JHIFS )JHIFS CORPORATE RESOURCE SERVICES
  48. 48. )3PPU(MPCBM)VNBO3FTPVSDFT4FSWJDF1SPWJEFST 3BOLFECZ3FUVSOPOTTFUTPG.BJO#VTJOFTT 31 2.8% 26 1.9% 41 36 -19.1% 43 4.3% 42 -7.9% / 50 3.9% 23 0.8% 48 1.1% 46 45 22 48 / / / / / / / / 44 7 49 12.1% / 6.0% 30 47 38 13 39 4.9% 11 / 18 34 -0.03% 10 / *OEVTUSZ $PNQBOZ -0(0 $PVOUSZ 3BOL 30 $PNQBSFE XJUIJOEVTUSZ BWFSBHF )FBEIVOUJOH 310 )3 NBOBHFNFOU TPGUXBSF 0OMJOF SFDSVJUNFOU )3DPOTVMUJOH ROBERT WALTERS HARVEY NASH HEIDRICKSTRUGGLES Hudson Empresaria Group HAYS bluestone hydrogen PageGroup Clarius Group HRnet Group SYNERGIE Ultimate SOFTWARE workday KRONOS www.51job.com Dice Holdings Linkedin Monster seek TOWERS WATSON Aon Hewitt MERCER )JHIFS )JHIFS -PXFS -PXFS )JHIFS -PXFS )JHIFS -PXFS -PXFS -PXFS )JHIFS -PXFS RESOURCES GLOBAL PROFESSIONALS
  49. 49. HRoot2014全球人力资源服务机构50强 HRoot Global 50 Human Resources Service Providers 2014 (Ranked by Operating Margin of Main Business) 49
  50. 50. )3PPU(MPCBM)VNBO3FTPVSDFT4FSWJDF1SPWJEFST 3BOLFECZ0QFSBUJOH.BSHJOPG.BJO#VTJOFTT $PNQBSFE XJUIJOEVTUSZ BWFSBHF )3TFSWJDF PVUTPVSDJOH 50 CORPORATE RESOURCE SERVICES 15 5 12 40 16 19 6 24 4 9 21 1 20 3 2 27 14 17 33 8 49 35 28 22 18 38.9% 18.4% 5.1% 4.6% 2.5% 2.4% 1.3% / 9.9% 9.4% 7.6% 4.0% 3.6% 2.5% 2.2% 1.9% 1.8% 1.5% 1.3% 1.0% 11.8% 9.3% 9.2% 6.8% 3.7% *OEVTUSZ $PNQBOZ -0(0 $PVOUSZ 3BOL 0QFSBUJOH NBSHJO 5BMFOUEJTQBUDI MFBTFQMBDFNFOU )FBEIVOUJOH 310 PAYCHEX ADP TEMP HOLDINGS BBSI Insperity IMPELLAM GROUP CIIC CHANDLER MACLEOD RECRUIT Robert Half On Assignment Adecco TRUEBLUE ManpowerGroup randstad CDI Corporation usg people PASONA KELLY HRnet Group MEITEC KORN/FERRY INTERNATIONAL PageGroup SYNERGIE )JHIFS )JHIFS -PXFS -PXFS -PXFS -PXFS -PXFS )JHIFS )JHIFS )JHIFS )JHIFS -PXFS -PXFS -PXFS -PXFS -PXFS -PXFS -PXFS -PXFS )JHIFS )JHIFS )JHIFS )JHIFS )JHIFS
  51. 51. )3PPU(MPCBM)VNBO3FTPVSDFT4FSWJDF1SPWJEFST 3BOLFECZ0QFSBUJOH.BSHJOPG.BJO#VTJOFTT )3PPU(MPCBM)VNBO3FTPVSDFT4FSWJDF1SPWJEFST 3BOLFECZ0QFSBUJOH.BSHJOPG.BJO#VTJOFTT 51 RESOURCES GLOBAL PROFESSIONALS 3.4% 3.2% 3.1% 2.8% 2.5% 1.8% 1.8% 1.4% 1.0% -4.1% -18.2% -19.6% 10.5% -32.7% / 50.0% 29.1% 14.1% 4.1% 3.1% 13.1% 7.8% 7.1% / *OEVTUSZ $PNQBOZ -0(0 $PVOUSZ 3BOL 0QFSBUJOH NBSHJO $PNQBSFE XJUIJOEVTUSZ BWFSBHF )FBEIVOUJOH 310 )3 NBOBHFNFOU TPGUXBSF 0OMJOF SFDSVJUNFOU )3DPOTVMUJOH HAYS HEIDRICKSTRUGGLES Staffline Group Empresaria Group sthree KFORCE ROBERT WALTERS hydrogen HARVEY NASH Hudson Clarius Group bluestone Ultimate SOFTWARE workday KRONOS seek www.51job.com Dice Holdings Monster Linkedin TOWERS WATSON Aon Hewitt MERCER )JHIFS )JHIFS )JHIFS )JHIFS )JHIFS )JHIFS )JHIFS )JHIFS -PXFS -PXFS -PXFS -PXFS )JHIFS -PXFS )JHIFS )JHIFS -PXFS -PXFS -PXFS )JHIFS -PXFS -PXFS RESOURCES GLOBAL PROFESSIONALS 3.4% 3.2% 3.1% 2.8% 2.5% 1.8% 1.8% 1.4% 1.0% -4.1% -18.2% -19.6% 10.5% -32.7% / 50.0% 29.1% 14.1% 4.1% 3.1% 13.1% 7.8% 7.1% / *OEVTUSZ $PNQBOZ -0(0 $PVOUSZ 3BOL 0QFSBUJOH NBSHJO $PNQBSFE XJUIJOEVTUSZ BWFSBHF )FBEIVOUJOH 310 )3 NBOBHFNFOU TPGUXBSF 0OMJOF SFDSVJUNFOU )3DPOTVMUJOH HAYS HEIDRICKSTRUGGLES Staffline Group Empresaria Group sthree KFORCE ROBERT WALTERS hydrogen HARVEY NASH Hudson Clarius Group bluestone Ultimate SOFTWARE workday KRONOS seek www.51job.com Dice Holdings Monster Linkedin TOWERS WATSON Aon Hewitt MERCER )JHIFS )JHIFS )JHIFS )JHIFS )JHIFS )JHIFS )JHIFS )JHIFS -PXFS -PXFS -PXFS -PXFS )JHIFS -PXFS )JHIFS )JHIFS -PXFS -PXFS -PXFS )JHIFS -PXFS -PXFS
  52. 52. HRoot Global 50 Human Resources Service Providers 2014 (Ranked by Net Profit Margin of Main Business) 52
  53. 53. )3PPU(MPCBM)VNBO3FTPVSDFT4FSWJDF1SPWJEFST 3BOLFECZ/FU1SPGJU.BSHJOPG.BJO#VTJOFTT *OEVTUSZ $PNQBSFE XJUIJOEVTUSZ BWFSBHF )3TFSWJDF PVUTPVSDJOH 53 $03103534063$ 437*$4 15 5 40 12 16 6 24 19 9 4 21 1 20 3 2 27 8 33 17 14 28 35 37 41 29 24.5% 12.4% 3.4% 2.7% 1.4% 1.1% 0.7% / 5.9% 5.5% 5.2% 2.9% 2.7% 1.4% 1.4% 1.2% 1.1% 0.3% 0.3% -1.1% 7.3% 5.3% 2.5% 1.3% 1.1% $PNQBOZ -0(0 $PVOUSZ 3BOL 0QFSBUJOH NBSHJO 5BMFOUEJTQBUDI MFBTFQMBDFNFOU )FBEIVOUJOH 310 PAYCHEX ADP BBSI TEMP HOLDINGS Insperity CIIC CHANDLER MACLEOD IMPELLAM GROUP Robert Half RECRUIT On Assignment Adecco TRUEBLUE ManpowerGroup randstad CDI Corporation KELLY PASONA usg people KORN/FERRY INTERNATIONAL MEITEC Staffline Group HEIDRICKSTRUGGLES sthree )JHIFS )JHIFS -PXFS -PXFS -PXFS -PXFS -PXFS )JHIFS )JHIFS )JHIFS )JHIFS )JHIFS -PXFS -PXFS -PXFS -PXFS -PXFS -PXFS -PXFS )JHIFS )JHIFS )JHIFS -PXFS -PXFS
  54. 54. )3PPU(MPCBM)VNBO3FTPVSDFT4FSWJDF1SPWJEFST 54 34063$4(-0#- 130'44*0/-4 1.0% 0.9% 0.6% -4.6% / / / / / / / / 6.2% -36.8% / 29.9% 7.6% 1.8% -0.1% / 8.9% 3.7% / / 3BOLFECZ/FU1SPGJU.BSHJOPG.BJO#VTJOFTT *OEVTUSZ $PNQBOZ -0(0 $PVOUSZ 3BOL 0QFSBUJOH NBSHJO $PNQBSFE XJUIJOEVTUSZ BWFSBHF )FBEIVOUJOH 310 )3 NBOBHFNFOU TPGUXBSF 0OMJOF SFDSVJUNFOU )3DPOTVMUJOH ROBERT WALTERS KFORCE HARVEY NASH Hudson HRnet Group PageGroup SYNERGIE HAYS Empresaria Group hydrogen Clarius Group bluestone Ultimate SOFTWARE workday KRONOS www.51job.com Dice Holdings Linkedin Monster seek TOWERS WATSON MERCER Aon Hewitt -PXFS -PXFS -PXFS -PXFS -PXFS -PXFS )JHIFS -PXFS -PXFS -PXFS )JHIFS -PXFS
  55. 55. HRoot Global 50 Human Resources Service Providers 2014 (Ranked by Return on Shareholder's Equity of Main Business) 55
  56. 56. )3PPU(MPCBM)VNBO3FTPVSDFT4FSWJDF1SPWJEFST 3BOLFECZ3FUVSOPO4IBSFIPMEFSTRVJUZPG.BJO#VTJOFTT *OEVTUSZ $PNQBSFE XJUIJOEVTUSZ BWFSBHF )3TFSWJDF PVUTPVSDJOH 56 CORPORATE RESOURCE SERVICES 15 40 5 6 16 24 12 19 9 1 4 21 20 33 3 2 8 27 17 14 37 35 28 31 25 32.1% 24.7% 22.7% 21.3% 12.6% 7.2% / / 27.4% 15.7% 14.1% 13.2% 11.4% 10.4% 9.9% 7.9% 7.2% 4.5% 2.5% -5.7% 22.3% 10.4% 9.6% 7.2% 6.9% $PNQBOZ -0(0 $PVOUSZ 3BOL 0QFSBUJOH NBSHJO 5BMFOUEJTQBUDI MFBTFQMBDFNFOU )FBEIVOUJOH 310 PAYCHEX BBSI ADP CIIC Insperity CHANDLER MACLEOD TEMP HOLDINGS IMPELLAM GROUP Robert Half Adecco RECRUIT On Assignment TRUEBLUE ManpowerGroup randstad KELLY CDI Corporation PASONA usg people Staffline Group MEITEC KORN/FERRY INTERNATIONAL ROBERT WALTERS KFORCE )JHIFS )JHIFS )JHIFS )JHIFS -PXFS -PXFS )JHIFS )JHIFS )JHIFS )JHIFS )JHIFS )JHIFS RVBM -PXFS -PXFS -PXFS -PXFS -PXFS )JHIFS )JHIFS )JHIFS )JHIFS )JHIFS
  57. 57. )3PPU(MPCBM)VNBO3FTPVSDFT4FSWJDF1SPWJEFST 57 RESOURCES GLOBAL PROFESSIONALS 6.1% 2.5% -40.9% / / / / / / / / / 13.5% -14.5% / 15.0% 9.7% 1.0% -0.1% / 11.7% 5.8% / / 3BOLFECZ3FUVSOPO4IBSFIPMEFSTRVJUZPG.BJO#VTJOFTT *OEVTUSZ $PNQBOZ -0(0 $PVOUSZ 3BOL 0QFSBUJOH NBSHJO $PNQBSFE XJUIJOEVTUSZ BWFSBHF )FBEIVOUJOH 310 )3 NBOBHFNFOU TPGUXBSF 0OMJOF SFDSVJUNFOU )3DPOTVMUJOH HARVEY NASH HEIDRICKSTRUGGLES Hudson sthree HRnet Group PageGroup SYNERGIE HAYS Empresaria Group hydrogen Clarius Group bluestone Ultimate SOFTWARE workday KRONOS www.51job.com Dice Holdings Linkedin Monster seek TOWERS WATSON MERCER Aon Hewitt )JHIFS )JHIFS -PXFS )JHIFS )JHIFS )JHIFS -PXFS -PXFS -PXFS )JHIFS -PXFS
  58. 58. HRoot2014全球人力资源服务机构50强 HRoot Global 50 Human Resources Service Providers 2014 (Ranked by Asset-Debt Ratio of Main Business) 58
  59. 59. )3PPU(MPCBM)VNBO3FTPVSDFT4FSWJDF1SPWJEFST 3BOLFECZTTFU%FCU3BUJPPG.BJO#VTJOFTT *OEVTUSZ $PNQBSFE XJUIJOEVTUSZ BWFSBHF )3TFSWJDF PVUTPVSDJOH 59 CORPORATE RESOURCE SERVICES 24 6 16 19 15 40 5 12 27 4 9 20 21 8 2 3 14 1 17 33 49 48 28 35 45 58% 63% 67% 69% 71% 77% 81% / 30% 36% 38% 45% 49% 54% 56% 60% 61% 62% 64% 81% 25% 36% 39% 41% 47% $PNQBOZ -0(0 $PVOUSZ 3BOL TTFUEFCU SBUJP 5BMFOUEJTQBUDI MFBTFQMBDFNFOU )FBEIVOUJOH 310 CHANDLER MACLEOD CIIC Insperity IMPELLAM GROUP PAYCHEX BBSI ADP TEMP HOLDINGS CDI Corporation RECRUIT Robert Half TRUEBLUE On Assignment KELLY randstad ManpowerGroup usg people Adecco PASONA HRnet Group Clarius Group KORN/FERRY INTERNATIONAL MEITEC hydrogen -PXFS )JHIFS )JHIFS )JHIFS )JHIFS )JHIFS )JHIFS -PXFS -PXFS -PXFS -PXFS -PXFS )JHIFS )JHIFS )JHIFS )JHIFS )JHIFS )JHIFS )JHIFS -PXFS -PXFS -PXFS -PXFS -PXFS
  60. 60. )3PPU(MPCBM)VNBO3FTPVSDFT4FSWJDF1SPWJEFST 60 RESOURCES GLOBAL PROFESSIONALS 53% 55% 55% 59% 60% 68% 100% 124% / / / / 45% 69% / 19% 21% 41% 47% 60% 16% 49% / / 3BOLFECZTTFU%FCU3BUJPPG.BJO#VTJOFTT *OEVTUSZ $PNQBOZ -0(0 $PVOUSZ 3BOL TTFUEFCU SBUJP $PNQBSFE XJUIJOEVTUSZ BWFSBHF )FBEIVOUJOH 310 )3 NBOBHFNFOU TPGUXBSF 0OMJOF SFDSVJUNFOU )3DPOTVMUJOH Hudson KFORCE HEIDRICKSTRUGGLES Empresaria Group Staffline Group sthree SYNERGIE bluestone ROBERT WALTERS HARVEY NASH PageGroup HAYS workday Ultimate SOFTWARE KRONOS www.51job.com Linkedin seek Monster Dice Holdings TOWERS WATSON MERCER Aon Hewitt -PXFS -PXFS -PXFS )JHIFS )JHIFS )JHIFS )JHIFS )JHIFS -PXFS )JHIFS -PXFS -PXFS -PXFS )JHIFS )JHIFS -PXFS )JHIFS
  61. 61. HRoot2014全球人力资源服务机构50强 HRoot Global 50 Human Resources Service Providers 2014 (Ranked by Current Ratio of Main Business) 61
  62. 62. )3PPU(MPCBM)VNBO3FTPVSDFT4FSWJDF1SPWJEFST 3BOLFECZ$VSSFOU3BUJPPG.BJO#VTJOFTT *OEVTUSZ $PNQBSFE XJUIJOEVTUSZ BWFSBHF )3TFSWJDF PVUTPVSDJOH 62 CORPORATE RESOURCE SERVICES 6 40 16 5 15 19 24 12 20 27 9 21 4 8 3 17 1 33 2 14 49 35 48 25 28 1.5 1.4 1.3 1.1 1.1 1.1 1.1 / 2.9 2.8 2.2 2.1 1.7 1.6 1.5 1.3 1.2 1.2 1.1 0.1 4.0 3.6 2.5 2.3 2.0 $PNQBOZ -0(0 $PVOUSZ 3BOL $VSSFOUSBUJP 5BMFOUEJTQBUDI MFBTFQMBDFNFOU )FBEIVOUJOH 310 CIIC BBSI Insperity ADP PAYCHEX IMPELLAM GROUP CHANDLER MACLEOD TEMP HOLDINGS TRUEBLUE CDI Corporation Robert Half On Assignment RECRUIT KELLY ManpowerGroup PASONA Adecco randstad usg people HRnet Group MEITEC Clarius Group KFORCE KORN/FERRY INTERNATIONAL )JHIFS RVBM -PXFS -PXFS -PXFS -PXFS -PXFS )JHIFS )JHIFS )JHIFS )JHIFS )JHIFS RVBM -PXFS -PXFS -PXFS -PXFS -PXFS -PXFS )JHIFS )JHIFS )JHIFS )JHIFS )JHIFS
  63. 63. )3PPU(MPCBM)VNBO3FTPVSDFT4FSWJDF1SPWJEFST 63 RESOURCES GLOBAL PROFESSIONALS 1.9 1.7 1.4 1.4 1.3 1.3 1.2 0.7 -1.1 -1.3 -1.3 -1.9 4.8 1.2 / 4.3 4.0 1.0 0.9 0.7 3.5 1.5 / / 3BOLFECZ$VSSFOU3BUJPPG.BJO#VTJOFTT *OEVTUSZ $PNQBOZ -0(0 $PVOUSZ 3BOL $VSSFOUSBUJP $PNQBSFE XJUIJOEVTUSZ BWFSBHF )FBEIVOUJOH 310 )3 NBOBHFNFOU TPGUXBSF 0OMJOF SFDSVJUNFOU )3DPOTVMUJOH Hudson HEIDRICKSTRUGGLES hydrogen sthree Staffline Group SYNERGIE Empresaria Group bluestone HARVEY NASH HAYS ROBERT WALTERS PageGroup workday Ultimate SOFTWARE KRONOS Linkedin www.51job.com Monster seek Dice Holdings TOWERS WATSON MERCER Aon Hewitt )JHIFS )JHIFS )JHIFS )JHIFS )JHIFS )JHIFS RVBM -PXFS -PXFS -PXFS -PXFS -PXFS )JHIFS -PXFS )JHIFS )JHIFS -PXFS -PXFS -PXFS )JHIFS -PXFS
  64. 64. HRoot2014全球人力资源服务机构50强 HRoot Global 50 Human Resources Service Providers 2014 (Ranked by Times Interest Earned of Main Business) 64
  • rgreiner

    Dec. 30, 2015
  • hayatodobashi

    Feb. 24, 2015
  • JairoBastilla

    Feb. 11, 2015

2014 Global Top50 HR Service Providers Ranking and Whitepaper by HRoot

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