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Headhunting Services and Recruitment Procedure Outsourcing Overviews Bide The Time, Move On Along Challenges A review of the global human resource service market 2016-2017 2017—An all-around rebound Currently, the global economic growth has taken a turn for the to the latest prediction report of the World Bank, along with better, but risk of policy uncertainty still remains. Benefiting from recovery of the manufacturing industry and trade, the market worldwide structural adjustment, industrial update and innovational confidence will build. The bulk commodity price will become growth, the world economic is more steadily recovering from steadier. Thus, the emerging market and the developing economy the recession. It seems twists and turns coming along with the exporting bulk commodity will see hope of progress. In the US, financial crisis has increased “extensiveness and steadiness” of the economic growth is accelerating; in the Europe, the economy the global economic recession. makes a recovery among a myriad of challenges; in Japan, the Since the start of 2017, the world economy has been making economic growth is not obvious but encouraging. Among Asia- an all-around comeback among upheavals now and then. In Pacific economies, in particular China’s economy, the prospects of April 2017, the International Monetary Fund (IMF) increased impressive growth are brilliant. the expectation of the short-term economic growth for the first According to the World Employment and Social Outlook time over the past six years, from 3.4% to 3.5%. On the ninth Trends 2017 issued by the International Labor Organization year following breakout of the financial crisis in 2008, the world (ILO), the global labor market is facing dual challenges. On the economy has finally seen signs of a full-swing rebound. According one hand, it is busy repairing aftermath of the economic and 02 Overviews Tips: The National Equities Exchange and Quotations Co., Ltd. (NEEQ) is a Chinese system for trading shares of public limited company that not listed in the two stock exchanges in Shenzhen and Shanghai. It originated from the stock transfer quotation system for non-listed SMEs in Zhongguancun Park in 2016. In September 2012, it was official registered as NEEQ, thus becoming the third securities trading market after Shanghai and Shenzhen stock exchange. The NEEQ exists to serve development of innovational, start-up and growth small-and micro enterprises. A striking characteristic of the NEEQ is that it does not set any financial threshold, but requires the company to have a clear equity structure, with the legal scope, and complete in corporate governance, and perform information disclosure without any falsification. The Growth Enterprise Market was launched on March 31, 2009. It was an outcome of the Shenzhen Stock Exchange over the past one decade. Its establishment is for the purpose of providing services for innovational and growth enterprises, and serving as a financing platform for innovational enterprises. Meanwhile, it has built a new withdrawal mechanism for venture capitals and private equity investors. Though it has not yet embraced its 10th anniversary, the GEM together with the NEEQ both falls into the category of floor trading market in China. social crises. On the other hand, it is expected to create high quality positions for the new annual workforce. Meanwhile, the Percentage of Chinese enterprises in the "HRoot Global 100 progress of artificial intelligence and robot technology is launching Human Resource Providers 2017" a new wave of automation worldwide. Increasingly, human labor is replaced by machines. This undoubtedly builds employment pressure on the global labor market. Affected by technology, globalization and demographic changes, the global labor market will usher in another round of earthshaking reform. Due to influence of the global economy and labor market, the global human resource service market has also witnessed steady growth. The directory of “HRoot Global 100 Human Resource Service Providers 2017” is a testimony of the development trend. The “HRoot Global 100 Human Resource Service Providers Chinese enterprises number Total number 2017” is ranked based on annual revenues of the human resource service providers. The annual revenues are converted into the In the list, Chinese enterprises are showing robust USD at the annual average exchange rate of the local currency development. Compared with their counterparts, their growth is to the USD. This avoids the impact of the annual interest rate on leading. CIIC (China International Intellectech Corporation) is the ranking. only Chinese human resource provider listed in the top 10. In In recent years, many Chinese human resource providers the fiscal year 2016, CIIC maintained sound growth momentum, have listed themselves in China’s NEEQ and GEM. This enables whose revenue reached 9.7 billion USD. The annual revenue the assessment institution to obtain financial data of these listed growth rate was calculated at 13.7%. The outstanding performance Chinese human resource providers. Therefore, this ranking listed it in the seventh place. Among online recruitment service increases the directory from the previous 50 to 100 this year so as providers, 51JOB ranked No. 50 with its revenue totaling at 352 to more comprehensively reflect development of the global human million USD in 2016; Zhaopin.com also experienced encouraging resource market. growth of revenue in 2016, which increased by 11.5% to reach The annual income of enterprises listed in “HRoot 2017 232 million USD, and it ranked No. 59 in the list. Global 100 Human Resource Service Providers” totals at 203.3 What worth mentioning is that Strait Human Resources is billion USD, registering a year-by-year increase of 7.8% over the human resource provider with the highest revenue this year 188.6 billion USD of the last year. More impressively, 33 Chinese among enterprises newly listed in the NEEQ.It is also the first enterprises have made into the list. state-owned human resource institution in the NEEQ. Being in the 03 Overviews 47th place, it makes into the top 50. In 2016, its revenue totaled at In the fiscal year 2016, Willis Towers Watson, a global 391 million USD, registering a year-on-year growth of 4.6% with its consulting, insurance brokerage, and solution plan service operating profits as high as 4 million USD. provider; DIP, an online recruitment, talent dispatch/lease/ With its predecessor being Fujian Strait Talent Dispatch Co., placement service provider; and JAC Recruitment, also an online Ltd. (founded in 2004), Strait Human Resources is set up as a recruitment service provider—these three human resource service state-owned enterprise with joint restructuring efforts of hxrc. providers achieved fast development with their revenue growth com and Fujian Investments & Development Group Co., Ltd. rate staying at 106.0%, 37.2% and 37%, respectively. As a professional human resources service provider, it mainly specializes in human resource dispatch, outsourcing, agency, consulting, recruitment, training, etc. Annual income growth On June 8, 2017, Career International successfully listed itself in the GEM of Shenzhen Stock Exchange, thus becoming the first stock in China’s human resource industry. Five million A-shares were issue at a unit price of 6.55 yuan in its IPO. The capitals raised were expected to be invested in its Fiscal 2014 Fiscal 2015 Fiscal 2016 human resource business system expansion and its information system upgrade. In short, the development momentum of Career Willis Towers Watson JAC Recruitment International is not to be ignored by its competitors. In 2017, Career International entered the list the first time, ranking No. 68. In 2016, different market segments of the human resource In 2016, its revenue reached 131 million USD, which was 12.2% industry embraced different rates of growth. The growth of the higher than the year before. human resource outsourcing and online recruitment market was encouraging. Despite of the impact of the global economy and the Year-on-year growth of the "HRoot Global 100 Human Resource regional labor market, global human resource service providers Service Providers 2017" in 2016 are developing increasingly steadily. The future development prospects are optimistic. Concerning the “operating revenue” in 2016, 40 enterprises 17% among enterprises whose operating profit data among the “HRoot Global 100 Human Resource Service Providers 2017” made profits; while 48 had deficit. The other 12 enterprises are listed as “others” because their profit data are not available. Apart from 83% the human resource management software, all the other market segments have increased their operating profits. Increase Decrease Operating profit of the "HRoot Global 100 Human Resource Service Providers 2017" in 2016 Compared with last year, 17 enterprises in “HRoot Global 100 Human Resource Service Providers 2017” suffered a decrease in its year-on-year growth, which was mainly caused by the falling exchange rate of the euro and pound to USD. Among Chinese human resource service providers listed in the NEEQ and GEM, Offer Tech, dianmi365 and 111job. cn achieved a three-digit annual revenue growth. This was the version of Fast & Furious in the field of global human resource services. Ranking Ranking Company Nation Annual Revenues in 2017 Growth 2016FY 1 99 Offer Tech China 564.4% Increase Decrease Others 2 53 dianmi365 China 407.7% 3 98 111job.cn China 283.5% 04 Overviews 106%, placed Willis Towers Watson in the eighth place. The Different development trends of time-honored human resource consulting brands, MERCER market segments of the human and Aon Hewitt, rank No. 13 and No. 14. In the new era, human resource industry resource consulting service providers are also busy expanding their business market. On May 4, 2017, Aon Hewitt announced Among the top 10 of “HRoot Global 100 Human Resource its purchase of Cut-e, an online talent assessment leader in Service Providers 2017”, the human resource dispatch/lease/ Hamburg, Germany. The purchase obtained broader marketing displacement service providers are leading.
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