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Overview of Kelly Services Inc
Kelly Services Inc (KELYA) is a global workforce solutions company that has been at the forefront of the temporary staffing industry since its inception in 1946. With a longstanding reputation built on a commitment to investing in people, the company offers comprehensive talent solutions, staffing services and consulting across a wide range of industries, including science, engineering, technology, education, manufacturing, retail, finance, and energy.
Business Model and Core Services
Kelly Services delivers multifaceted workforce solutions through multiple specialized business segments:
- Professional & Industrial: Focused on delivering skilled talent to diverse sectors through staffing services, direct placement and outcome-based approaches.
- Science, Engineering & Technology: Providing specialized talent to high-demand sectors that require technical expertise and innovative skills.
- Education: Offering tailored staffing solutions and workforce services specifically designed to address the needs of educational institutions and related fields.
- Outsourcing & Consulting: Featuring a range of services that include managed service provider arrangements, recruitment process outsourcing, and broader talent advisory services.
- International: Extending the company’s global reach by delivering locally tailored recruitment solutions and RPO services in various markets.
Global Reach and Industry Expertise
Throughout more than 70 years, Kelly Services has cultivated deep industry expertise and built a robust network of suppliers and partners around the world. This global presence enables the company to provide flexible and customized staffing solutions that meet the evolving demands of an ever-changing labor market. The company leverages its in-depth knowledge of local and global markets to address workforce challenges with strategic efficiency and innovative practices.
Innovation and Adaptability
Kelly Services’ history is marked by continuous innovation and a focus on providing precise staffing solutions that adapt to varying business needs. Its strategic initiatives, including selective acquisitions and portfolio optimization, have strengthened its offerings in areas such as recruitment process outsourcing (RPO) and managed service provider (MSP) solutions. These efforts ensure that clients have access to talent solutions designed for higher-margin, outcome-based performance across multiple industries.
Competitive Landscape
Operating in a competitive market, Kelly Services differentiates itself through its extensive industry expertise, diverse service offerings and long-established track record. By emphasizing adaptable, client-focused solutions, the company remains well-equipped to meet the workforce challenges of both local and international markets. This strategic positioning allows Kelly Services to maintain its relevance and authority within the global staffing industry.
Commitment to Clients and Talent
At its core, Kelly Services is driven by a commitment to both clients and job seekers. The company’s mission involves connecting skilled professionals with meaningful work opportunities while helping businesses manage their workforce needs efficiently. Its people-first approach is reflected in its tailored solutions and focus on long-term value creation, ensuring that every engagement is driven by expertise, operational excellence and a clear understanding of market dynamics.
Summary
Kelly Services Inc stands as a testament to sustained innovation in the staffing and workforce solutions sector. Its diverse portfolio, global presence and ongoing commitment to innovation make it a critical player for businesses seeking comprehensive talent management solutions. The company’s dedication to quality, flexibility and strategic insight solidifies its position as an authoritative resource in the staffing industry.
Kelly (Nasdaq: KELYA, KELYB) has announced its participation in the J.P. Morgan Ultimate Services Investor Conference on November 19, 2020. Key executives, including Peter Quigley, Olivier Thirot, and James Polehna, will engage in virtual one-on-one meetings. Kelly connects talent in various sectors and reported $5.4 billion in revenue for 2019.
Kelly (Nasdaq: KELYA, KELYB) reported Q3 2020 revenue of $1.0 billion, a decline of 18.1% year-over-year due to continued COVID-19 demand issues. The company recorded an operating loss of $2.4 million and adjusted earnings of $7.0 million, down from $17.0 million in Q3 2019. Diluted earnings per share were $0.42 or $0.29 adjusted, compared to $0.43 last year. The quarter included a non-cash gain from an investment in Persol Holdings, offset by customer dispute losses.
Kelly (Nasdaq: KELYA, KELYB) is set to announce its third quarter earnings on November 5, 2020, before market opening. A conference call for investors will follow at 9:00 a.m. ET, accessible via phone or streaming online. Kelly specializes in connecting skilled professionals across various sectors including Science and Engineering, employing around 440,000 individuals globally. The company reported a revenue of $5.4 billion in 2019, underscoring its significant role in the talent solutions industry.
Kelly has launched the Equity@Work initiative aimed at creating a more equitable labor market by transforming hiring practices and addressing systemic barriers. CEO Peter Quigley announced key changes, including removing salary and criminal history from applications and updating drug offense policies. Collaborations with organizations such as the SHRM Foundation and the Detroit Regional Talent Compact will focus on improving access to education and job opportunities. This initiative seeks to connect more diverse candidates with employment opportunities and enhance inclusivity in the workforce.
Kelly (Nasdaq: KELYA, KELYB), a prominent specialty talent solutions provider, will present at the Sidoti Fall 2020 Virtual Investor Conference on September 23 & 24, 2020. Key executives, including Peter Quigley, Olivier Thirot, and James Polehna, will discuss the company's strategy and performance. The presentation is scheduled for 2:30 p.m. ET on September 24 and will be accessible via kellyservices.com. An audio replay will be available post-event.
Kelly announced the appointment of Vanessa Williams as Senior Vice President and General Counsel, effective immediately. Vanessa brings over 24 years of legal experience, previously serving at IHS Markit and R.L. Polk. She will oversee Kelly's legal and corporate security teams, manage compliance, and provide strategic legal guidance. CEO Peter Quigley expressed confidence that her background will support the company's growth strategy. Vanessa holds a Juris Doctorate from William & Mary Law School and an MBA from Wayne State University.
Kelly has appointed two key executives to enhance their staffing strategy: Amy Bouque as Chief HR Officer for full-time employees, and Jocelyn Lincoln as Chief Talent Officer focused on temporary workers. Bouque, previously with Ally Financial, is tasked with improving HR practices, while Lincoln, with 21 years at Kelly, aims to enhance the experience for temporary workers. CEO Peter Quigley expressed that both roles are crucial as Kelly navigates the evolving workforce landscape, emphasizing the importance of a strong temporary worker experience.
Kelly (Nasdaq: KELYA) reported Q2 2020 results, showing a 28.7% revenue decline year-over-year, totaling $1.0 billion. Operating earnings fell 68.2% to $11.1 million, with adjusted earnings of $10.9 million. Diluted EPS was $1.04, down 50.9%, while adjusted EPS decreased 37.0% to $0.51. The decline is attributed to reduced demand due to the COVID-19 crisis. CEO Peter Quigley noted ongoing efforts to enhance profitability and shift towards specialization in response to market challenges.
KellyOCG has been recognized as a Leader and Star Performer in Everest Group's 2020 PEAK Matrix Assessments for Services Procurement and a Major Contender in Recruitment Process Outsourcing (RPO). This marks the second consecutive year as a Leader in Services Procurement, with high ratings in vision & strategy and delivery footprint. The report highlights KellyOCG's strong performance in supplier management, technology investments, and analytics capabilities. With a focus on small and mid-markets, the firm continues to enhance its service offerings.
Kelly Services, Inc. (Nasdaq: KELYA) will announce its second quarter earnings on August 6, 2020, prior to market opening. A conference call will take place at 9:00 a.m. EDT, accessible online or via phone. A recording will be available post-call. Kelly Services connects talent with companies in various sectors, employing nearly 440,000 individuals globally and generating $5.4 billion in revenue for 2019. For more information, visit kellyservices.com.
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