Randstad Holding has the supply to meet nearly any demand. The company is one of the largest temporary staffing and employment services agencies in the world (behind Adecco). It operates primarily in Europe, but also in Asia and North America, under the Randstad brand and several others, including Sapphire Technologies (IT staffing), Yacht (industrial staffing), and Tempo-Team (general staffing). Through almost 4,200 locations in more than 40 countries, Randstad supplies temporary workers for small assignments as well as large-scale deployments. It also offers permanent placement and HR project management and consultancy services. Randstad Holding was established in 1960.
Randstad's operations are divided across four business segments: staffing, professionals, HR solutions (payroll services, HR consulting, and vendor management services), and in-house services (works onsite with clients primarily residing in the manufacturing and logistics sectors).
While Randstad is a global staffing leader, it has been working to improve its position in the lucrative North America market. In 2011 it bought SFN Group, a staffing and technology services provider based in Florida. Randstad paid about $770 million in a deal that improved its ability to provide administrative, finance, and accounting services. SFN Group serves 8,000 clients through more than 550 locations in Canada and the US.
In perhaps the most significant milestone in its history, Randstad acquired rival Vedior for about $5.1 billion in 2008. The acquisition created a staffing services juggernaut, adding thousands of branch offices to Randstad's already vast network and expanding its geographic scope into an additional 30 countries. Specifically, the deal enhanced Randstad's position in the lucrative markets of France and the UK, and led to the formation of subsidiary Randstad CPE, which specializes in recruiting services for the construction, property, and engineering fields.
Despite the expansion through Vedior, due to weak demand and the slumping economy, Randstad was forced to close about 85 branch offices in France in early 2009. Its profits also took a major hit in 2008, but the company has since bounced back. From 2008 to 2010 its net income skyrocketed from $25 million to $382 million.
Believing that the Japanese market is one of the largest staffing markets in the world, Randstad is looking to the country as an important location for achieving growth. Randstad initially improved its market position in the country in 2008 when it acquired 10% of FujiStaff Holdings, a staffing firm owning some 85 locations throughout the country. In late 2010, Randstad acquired a majority share in FujiStaff, upping its stake to 95%.
Frits Goldschmeding, the founder and former president and CEO of Randstad, owns about 30% to 40% of the company's shares. – less