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SThree reports record performance

The recruitment specialist’s contractor order book is up 43% year-on-year

SThree, specialist recruitment firm reported “record performance” this week with net fees rising 19% at constant currency year-on-year to £355.7m – a reported all-time high for the business.

The London-listed firm reported “strong” global growth with 23% in Germany, 24% in the US, and 19% in the Netherlands. Those three are SThree’s largest markets and account for 74% of the group’s net fees.

Contract and permanent net fees were up 17% and 24% year-on-year, respectively, with contract net fees representing 75% of group net fees, compared to 76% in 2020, with the contractor order book up 43% year-on-year.

The group also reported a record adjusted profit before tax of £60m, up 111% year-on-year.

The board described the balance sheet as “robust”, balance sheet, with net cash totalling £58m at year-end on 30 November, up from £50m at the end of the 2020 financial year.

It proposed a final dividend of 8p per share, up from 5p a year earlier, taking the full-year dividend to 11p from 5p year-on-year.

That was in line with the company’s dividend cover target of between 2.5x and 3.0x, as previously communicated.

SThree reported that the strength of its contractor order book and recent trading was tracking ahead of expectations, with the directors now anticipating double-digit net fee and profit growth for 2022.

On the environmental, social and governance front, they said its renewables business – accounting for 6% of net fees – was up 22% from 2020, which was ahead of its target to double the share of that business from 2019 to 2024.

Timo Lehne, interim CEO of STHree commented: “Our record-breaking full-year performance reported today demonstrates that we have a robust strategy focusing on STEM and flexible working, implemented by a talented management team, and the hard work of our people globally. As the market rebounded in 2021 following the impact of COVID-19, we saw demand for STEM skills increase across all of our key markets.

“Whether it is engineers building green infrastructure, developers aiding digital transformation or the scientists helping to develop the next life-changing drug, we are proud to have placed more than 22,000 skilled people and, combined with our ESG efforts, we impacted over 33,000 lives this financial year.”

“We are well-positioned, we demonstrated our ability to navigate through unforeseen challenges, such as COVID-19, and we continue to evolve our delivery model.”

The CEO said it would further invest in its infrastructure and people in 2022, to enhance its platform and drive accelerated margins in future years.

 

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Will D&I schemes cost workers their jobs?

68% of white men ‘don’t feel they need more D&I education’

A study by Dynata has suggested that one in three employees fear that an unintended consequence of increased awareness around D&I would be losing their role.

The research polled over 1,300 workers from the UK and nearly 10,000 from countries such as France, Germany and the USA. It explored the attitudes and opinions of employees, managers and people leaders surrounding EDI programmes in organisations.

The study stated that, while one in three employees rated accountability and progress reporting as the most important element of a successful D&I strategy, the same amount also feared that the consequences of such reporting could endanger their chances of working for D&I-centric organisations.

A total of 68% of white men who responded to the survey believe that they don’t need any further education about the importance of D&I, yet a massive 46% believe that a greater emphasis of D&I may lead to their losing their own job.

According to the study, 66% of respondents noted that creating a safe environment and paying employees fairly for their work were the most desired and important outcomes of any D&I initiative.

The benefits of doing so, included greater feelings of confidence, productivity and belonging among workers.

It appears that there is a ‘significant’ gap between senior leaders and workers in measuring the success of D&I within organisations.

  • 60% of bosses believe that they are creating a ‘culture of belonging’
  • 41% of workers perceive their managers are, in fact, creating a culture of belonging

“A diverse workforce which brings together different perspectives, ideas and ways of thinking is essential for innovation in business, just as it is in wider society,” commented Samuel Kasumu, former advisor to the Prime Minister and Managing Director at Inclusive Boards.

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Talent Solutions

TALiNT Partners and Stratigens Join Forces to Revolutionize Talent Intelligence Solutions

TALiNT Partners and Stratigens are proud to announce a strategic partnership which will provide an unparalleled range of talent intelligence solutions to the needs of our members, partners and clients.

Alison Ettridge, CEO of Stratigens said “Companies do research on their customers, their markets and their competitors to inform decisions all the time. With Stratigens, they can now do research on the greatest asset –access to the workforce and people they need to deliver their strategy. Our partnership with TALiNT Partners will support our mission of putting human capital at the heart of business decision making. We are really excited about working with the team to overlay the insight that TALiNT Partners’ network brings with labour market data to empower HR, TA and business leaders to make critical strategic decisions.”

Ken Brotherston, CEO of TALiNT Partners added “for some time we have been looking for a partner to support the insight generated by our network with global workplace data to bring a unique offering to the market. Stratigens is the perfect partner to help us achieve this and together we look forward to continuing to help raise capability in how employers find and keep the people they need, and how staffing and talent solutions providers can better support their clients.”

About Stratigens

Stratigens software is helping the world’s best companies make smarter decisions about where to grow, who to hire from and the diversity of their workforce. We join the dots between the labour market, economics and locations. Putting human capital intelligence at the heart of decision making.

We live in a world rich with skills and geo economic data, but the data is messy, unstructured, big and in thousands of places. Stratigens uses the latest in machine learning and big data to gather, extract, categorise and label the data, and put it into a format that’s easy to digest. So our clients can make smarter, faster, more informed decisions.

Stratigens – https://www.stratigens.com

About TALiNT Partners

TALiNT Partners connects the talent ecosystem. We bring together a global network of leading employers and solution providers to make better talent and technology decisions. Providing intelligence, insight and peer-to-peer networking that drives quality, innovation and improves inclusion across the talent ecosystem

TALiNT Partners – https://talintpartners.com/

 

If you would like to know more about the partnership, please contact Ken Brotherston, CEO of TALiNT Partners, ken@talintpartners.com

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Nash Squared acquires Het Flexhuis

Acquisition strengthens Nash Squared as a major MSP

Nash Squared, a provider of talent and technology solutions, has become a major force in Managed Service Provision with its recent acquisition of Het Flexhuis – a Managed Service Provider (MSP) of talent and recruitment services based in The Netherlands.

Het Flexhuis has a strong track record in delivering outsourced recruitment services for government, public services, and commercial organisations and will operate as an independent brand within Nash Squared’s recruitment business Harvey Nash.

Bev White, CEO of Nash Squared, commented: “I am delighted to welcome Het Flexhuis into the Nash Squared family. It is our vision to help our clients access talent and technology in every way possible, and offering a high quality MSP solution is an important next step for us. Het Flexhuis brings enormous experience and expertise with them, and I am excited by the potential.”

Occo Lijding, MD of Harvey Nash The Netherlands, commented: “This represents a step change in how we can help and support our clients in talent and technology. I have long admired the team at Het Flexhuis, and when we met I was struck by how similar our values and ambitions were. They are the perfect fit for us, and I look forward to working with them.”

Frederieke Schmidt Crans, Managing Director, Het Flexhuis commented: “We are thrilled and excited to become part of Nash Squared. Our company was established ten years ago with a mission to create a world-class MSP with great people and processes at its core. We see joining Nash Squared as the natural next chapter in that success story.”

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Adzuna acquires job search engine Getwork

Search engines combine forces to accelerate Adzuna’s growth in the US

On Tuesday, 14 June, Adzuna announced their acquisition of the US job search engine Getwork.

The Getwork team, under the leadership of Brad Squibb, will be working alongside the Adzuna team, intending to accelerate Adzuna’s growth in North America.

Getwork links job seekers with vacant roles at North American companies by indexing millions of verified jobs daily directly from tens of thousands of employer career sites.

Adzuna, with headquarters in London, UK, Indianapolis, IN, and Sydney, AU, uses AI-powered technology to match people to jobs. The company has recently launched in Switzerland, Belgium, Spain, and Mexico. Their operations now cover 20 markets globally.

The two companies will operate as independent brands with their own established communities.

Doug Monro, CEO, and Co-founder of Adzuna, comments: “Adzuna acquiring Getwork will help us supercharge our growth in North America. The Getwork team’s stellar reputation for great service and delivery has led them to be trusted by an impressive roster of household name companies in the US. It’s also a great fit as their team and mission are so aligned with ours. The US enterprise market is crying out for strong alternatives to existing offerings and we’re looking forward to combining Adzuna’s marketing expertise, global footprint and programmatic job matching technology with Getwork’s deep industry knowledge and reputation to deliver even better for our customers. The US is the fastest-growing part of our business and this acquisition will accelerate our profitable growth trajectory.”

Brad Squibb, President of Getwork, comments: “Adzuna is a truly global business, operating across 20 countries, which creates an exciting opportunity for us to scale into new markets with the help of a brand that has already paved the way for international expansion. We can’t wait to join Doug and the team on this journey.”

 

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UK companies lack focus on diversity, survey reveals

Despite efforts there is still massive room for improvement in UK management and reporting

In research released today, findings reveal a lack of focus on progressing diversity in the workplace. In the study conducted by SD Worx, it was found that while 68% of UK companies are committed to removing unconscious bias in the recruitment process, many have failed to implement a reporting system to track progress on meeting ED&I objectives.

The survey revealed that only 26% of UK companies evaluate managerial commitment to achieving ED&I-related objectives. A further 32% admitted having no systems allowing employees to report discrimination.

The UK ranked third in its commitment to removing unconscious bias at 68% when it comes to ranking. Ireland ranked first at 74%, with Belgium coming in second, at 69%.

As far as rankings for equal access to training, the UK is slightly lower than other countries, with 64% of companies investing in equal access to training and development. Ireland (72%), Belgium (71%), and Poland (69%) topped the list.

While 64% of UK companies include transparency about ED&I goals and actions to attract a diverse workforce in their mission statement and corporate values, only 60% of the UK companies surveyed said that they promote ED&I in job advertisements, social media, and their websites.

The survey also revealed that countries vary in their level of focus concerning educating and involving managers in their ED&I policies. For example, in the UK, 60% of companies stated that they actively involve their managers in ED&I policies, and 60% provide internal training on the topic.

Colette Philp, UK HR Country Lead at SD Worx commented: “It’s no longer enough for businesses to say they prioritise diversity and inclusion. Instead, they must prove their commitment to achieving a more diverse workforce, both internally within their business and externally to attract talent.”

“There is more awareness than ever before regarding diversity in the workplace and it’s a deciding factor for many when it comes to searching for a role or staying with a business. A diverse workforce brings new experiences and perspectives and an inclusive environment allows individuals to thrive. If businesses aren’t already putting ED&I as a top priority, it’s essential they act now to do so.”

Jurgen Dejonghe, Portfolio Manager SD Worx Insights, added: “It’s important that companies start investing in an active reporting system about their actions concerning diversity, equality and inclusion. On the one hand, that data offers a strong basis for optimising the diversity policy with concrete and consciously controlled actions. On the other hand, such a system also provides clear evidence whether companies are effectively putting their money where their mouth is and not making false promises to (future) employees.”

For ED&I initiatives to be successful, change needs to come from the top, with proper rollouts and reporting system to track their progress.

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