![]() It is estimated that the consequence of the US recession was a loss of 900,000 temporary jobs. Adecco, which has only 4pc market share, generates 20pc of group revenue in the US. While the US market is the world's largest, it is highly fragmented. Relying on France just now can be a tricky proposition: retrenchment there because of the economic weakness has produced profit falls and job losses and a large redundancy bill.įollowing the merger, Adecco strengthened its position in the US with acquisitions making it the No 1 recruitment company in the US. Given its origins, it is no surprise that Adecco is the market leader in France where it generates 24pc of group revenue. While Europe, USA and Japan, generate almost 90pc of Adecco's revenues, its biggest play is in Europe, mainly Germany, the UK and France. The company claims it is represented in 60 countries but in truth it is essentially dependent on Europe. Industrial positions include placements in the cars, hotels, construction and transport sectors. Over 90pc of its revenues and 75pc of gross profit comes from temporary jobs.Ībout half of Adecco's placements are industrial jobs and office staff represent a quarter. Today Adecco offers permanent and temporary jobs, outsourcing and HR consultancy. The idea of a vast global company which derives the lion's share of its income from filling temporary jobs would have been a commercial daydream more than half a century agoĪdecco is the result of a merger less than 20 years ago between the Swiss company Adia and the French company Ecco, which had been busy consolidating European recruitment businesses including the UK firm Alfred Marks. It is also a leader in an industry that has grown in meaningful terms only in the past 50 years or so. ![]() So when I took a 'decco' at Adecco, I thought it was the most singularly appropriate name for a company whose business is checking out the talent. Where I come from in Dublin, a 'decco' was a commonly-used slang word for a 'look-see', a measurement, an appraisal, or a check on value. It is the Swiss-based recruitment agency Adecco. I was strangely attracted to the company we are analysing today, not by the fact that in global terms it is the largest in its field, or that it has 5,100 offices in 60 countries, or even that it has a staggering 33,000 employees.
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