Accelerating Trends, Realizing Opportunities
For nearly 75 years we have been researching, tracking and analyzing global labor market data and trends to shape our strategy and provide insights to our clients. In 2012, we identified four structural changes that were drastically reshaping the future of work; shifting demographics; technological disruption; the rise in individual choice and growing sophistication of organizations. These four forces converged to create what we called the Human Age — a time when access to, and unleashing of, human capital would become a major competitive differentiator and driver of economic growth.
We have been preparing for this future of work that we knew was coming. The pandemic provided a glimpse into the future of work and in 2022 we saw these trends accelerate further – especially tech transformation, a growing focus on the green transition and evolving employee expectations around new ways of working with more flexibility, balance and purpose.
In this New Human Age our focus on preparing people for the roles of tomorrow and helping companies access and retain the skilled talent they need has never been more relevant. Our shifting business mix will meet the demand for increasingly specialized talent, our accelerated investments in tech reflect the speed of digital transformation, and our innovation efforts will drive recruiter productivity so we can become creators of skilled talent at speed and scale.
Diversification: Accelerating Growth of Higher Margin Business Across Our Brands
Our business is now more diversified than ever and we continue to see strong demand for our higher margin offerings – Experis and Talent Solutions – which together represent 43% of our gross profits, up from 35% in 2019.
Accelerating growth in our Experis brand is key to our strategy to take advantage of the growing demand for IT resourcing and IT services. In October we celebrated one year since our acquisition of the ettain group in the US, allowing us to start 2023 with a strong position in Digital Workspace, Business Transformation, Enterprise Applications and Cloud & Infrastructure. The brand is now positioned as one of the largest IT resourcing and services providers globally, and our Industry Leader and Star Performer status in the UK and US has been recognized by Everest Group, a leading industry analyst, in their PEAK Matrix® Assessment 2022.
Talent Solutions consistently earns recognition as an industry leader. Our Managed Service Provider (MSP), TAPFIN, achieved Global Leader and Star Performer acknowledgement in Everest Group’s PEAK Matrix® assessment for the ninth consecutive year and scored highly for technology innovation including IntelliReach, our self-service business intelligence platform. Right Management, our career and talent development offering, was named by Forbes as one of America’s Best Management Consulting Firms for the second year and has been recognized as a Global Leader and Star Performer in Everest Group’s Outplacement and Career Transition Services PEAK Matrix® Assessment.
Our Manpower brand is our heritage and our future, and we are capturing opportunities to diversify with a greater focus on more specialized skill sets in both permanent and temporary staffing. We are also leveraging our MyPath program, helping create the skilled workforce of the future, and evolving our Manpower service offerings to provide even greater options for companies and job candidates to realize the perfect match of capabilities, productivity and career aspirations.
Our diverse business mix of leading global brands and highly diversified geographic footprint is providing companies with the resources and expertise they need to manage uncertainty, accelerate their digital transformation with operational and strategic flexibility, and drive workforce trends addressing societal value at scale, locally and across the world.
Digitization: Driving Return on Investment, from Deployment to Adoption
Being more data- and insight-driven enables our recruiters to find the best talent matches quickly and with greater accuracy, so they can create even more value for job-seekers and companies looking for talent.
We are pleased with our progress on our technology roadmap, to enable best-in-class user experiences and employee productivity while turning data into a key asset. In 2022 we implemented our cloud-enabled front office technology PowerSuite in 11 additional markets and are in-flight in six more, while PowerSuite Web is now operating in 33 markets. By the end of 2023, we expect to have all our major businesses on this leading SaaS global platform, an industry first.
In 2022, we further strengthened our mobile associate app – Mon Manpower – in France and advanced our Associate app in other key markets with more countries set to launch in 2023. Our global enterprise data lake is in place for our main markets, further strengthening our business insights on behalf of clients and improving our candidate experience. Our belief is that in the future of work, the companies who can attract and retain the talent, hold the future.
As we continue to differentiate our higher-value services, we are increasingly focused on innovating to “create talent at scale” by providing advice on career path choices, enhancing skill sets through training and building capabilities from scratch in technology related fields.
Innovation: Our Engine for Growth, Progress and Change
We are also making good progress in expanding our talent offerings across our brands, leveraging our PowerSuite technology stack to accelerate the deployment and adoption of our AI-based recruitment tools and machine learning for a more accurate and faster match between supply and demand.
Our Experis Academy, now active across 15 markets, is providing intensive ‘role-ready’ tech training and coaching for our Experis consultants so we can find or build the skilled talent our clients need, especially in Cloud and Infrastructure, Business Transformation Services and Digital Workspace. And our Manpower MyPath program has now boosted the skills and employability of over 200,000 associates in 15 markets since its inception, increasing recruiter productivity, and developing a higher value talent pool. Our data tells us that MyPath candidates achieve higher reassignment rates, with stronger Net Promoter Scores for both client companies and candidates.