Corporate Resource is a diversified technology, staffing, recruiting and consulting services firm offering cloud-based enterprise applications and hosting services to a wide variety of clients and industries. The company has defined an aggressive mission to become the industry leader in all facets of staffing services, and thus far has demonstrated a strong trajectory to achieve this goal.
Approximately 2.6 million people each day are employed by staffing companies, which over the past eight years have created 1 million new jobs, according to the American Staffing Association. So what does it take to stand out as an industry leader in a market this size?
The company’s plan to excel in its field starts with providing clients with vital human capital resources to drive profitability and customer satisfaction. Corporate Resource recruiters utilize the latest recruiting tools to provide clients with the right person for the job, also advantageous to the customers, which are placed into positions that best fit their skillset and expertise.
Having a strong management team at the wheel is invaluable to this first step. Corporate Resources is headed by chief executive officer and Chairman John P. Messina, who has more than 15 years of experience in the human capital services industry. Messina joined the company’s board of directors in April 2007, and climbed the ranks to achieve his current post in October 2012. He has been a successful entrepreneur as founder of several small businesses, and has previous experience in various executive positions in the transportation and construction industries.
Messina is joined by Chief Operating Officer Mark Levine, who has 21 years of experience in various managerial and executive-level positions; Chief Financial Officer Michael J. Golde, who contributes more than 20 years of experience in the human capital services, technology and professional services industries; and Frank Vaccaro, who has held many high-level management positions with Melville Corporation, Berkshire-Hathaway, J Baker and various staffing corporations.
An extensive market presence also comes into play as the company seeks the industry’s top rank. Corporate Resource currently operates 231 staffing and on-site facilities in 42 states and the District of Columbia. Spanning professional and administrative careers to general and industrial careers, Corporate Resources matches companies with employees on temporary, temp-to-perm or permanent placements.
In a recent public announcement, Corporate Resources said it is also seeing increased demand for its staffing services in the financial sector stemming from companies’ need for additional manpower without completely outsourcing their audit and risk management functions.
“Banks and financial services institutions have been hit with a ‘perfect storm’ in terms of compliance and risk management …,” Messina stated in the news release. “The Patriot Act continues to place necessary pressure on compliance with the Bank Secrecy Act. At the same time, all companies that currently use GAAP to report financial results are preparing for a transition to the IFRS. These trends, joined with unprecedented threats to IT security and customer data, are generating tremendous demand for consultants with the experience and knowledge needed to mitigate risk and ensure compliance.”
As a solution, Corporate Resources provides banks and financial services companies with on-demand, qualified personnel to help them achieve a more flexible and cost-effective staffing model.
Another characteristic of an industry leader is, of course, money. Corporate Resources in an approximate four-year period completed eight major acquisitions of regional staffing agencies, which it melded under one brand and increased revenue $23.9 million in the first quarter of 2014.
First-quarter revenue increased 12.5% to $218.4 million compared to the first quarter of 2013, driven by growth from acquisitions as well as 7.9% organic growth.
An impressive client base also fares well for the company’s mission. Corporate Resources has established client partnerships with some of the biggest names such as Goldman Sachs and Morgan Stanley; retailers like Macy’s and Barney’s New York; FedEx; Memorial Sloan Kettering Hospital; Del Monte and Coca Cola; MTV, Disney and the New York Times; Siemens; and many more.
In the past three years, growth of temporary staffing employment has outpaced the U.S. economy at 8.4% and 2.3%, respectively, according to Business Services from BMO Capital Markets. An IBIS World report forecasts the staffing industry to grow at an average annual rate of 2.7% from 2012 to 2017.
Armed with an aggressive and proven acquisition strategy, proprietary PEO software for business and human resource management, and a strong management team, Corporate Resources appears well-equipped to tackle this growing industry head-on and emerge and industry victor.
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