Our strategic review has enabled us to reconfirm that staffing is a fantastic market to be in. There is increasing penetration of temporary staffing in core markets, along with the liberalisation of European labour markets. At the same time, labour markets are globalising, particularly in certain sectors, such as oil & gas, and demographic shifts are creating a new supply of candidates, including older workers, more women and ‘lifestyle workers’, within the labour pool.
Emerging markets, such as Asia and Latin America, are growing steadily, creating new opportunities for global staffing vendors. In particular, we expect to see ongoing growth in the professional/executive businesses which reflects increasingly demand for highly skilled and professional personnel in more mature, as well as in developing, markets. With persistent skills shortages expected, Vedior’s professional/executive businesses are the best in the industry.
For 2008, we are facing a more uncertain economic outlook with limited visibility. However, the year has got off to a satisfactory start, with no signs of a significant slowdown.