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Overview
Robert Half Inc (RHI) is the world’s first and largest specialized staffing and talent solutions firm. Founded in 1948, the company has a rich legacy of pioneering the professional staffing industry and continues to innovate by matching highly skilled professionals with rewarding career opportunities around the globe. With a vast network of over 400 offices worldwide, Robert Half delivers comprehensive staffing and consulting services to a multitude of industries, including finance, accounting, technology, legal, marketing, creative, and administrative sectors.
Core Services and Business Model
Robert Half is synonymous with tailored human resource solutions. The company excels in:
- Temporary and Permanent Staffing: Offering flexible staffing solutions, Robert Half provides both temporary and permanent placement services. Their outcome-based approach ensures that each engagement meets specific business requirements.
- Consulting Services: Through its subsidiary, Protiviti, Robert Half extends its expertise into consulting. This division specializes in internal audit, risk management, business consulting, and technology advisory services, assisting organizations in navigating complex regulatory landscapes and operational challenges.
- Executive Search: The firm’s comprehensive suite includes executive search services designed to identify and attract top-level talent for leadership and strategic roles.
Market Position and Industry Context
Operating in a dynamic and fragmented staffing industry, Robert Half distinguishes itself by focusing on specialized sectors. Its precise approach to matching candidates with specific skill sets to the nuanced demands of modern businesses has solidified its reputation in the market. The company’s dual emphasis on staffing and consulting not only enhances its service offering but also provides resilience against market fluctuations. With over seven decades of industry experience, Robert Half has cultivated deep expertise and a commitment to ethical practices, setting it apart from generalist staffing firms.
Operational Excellence and Global Reach
Boasting a global footprint that spans more than 400 locations, Robert Half leverages localized insights while maintaining a consistent and high-quality service delivery across regions. The company’s established presence in key markets allows it to address the distinct needs of diverse business environments. This extensive network is supported by rigorous candidate screening processes and a thorough understanding of client requirements, ensuring an optimal match between talent and opportunity.
Revenue Generation and Business Diversification
The company’s robust business model is underpinned by diversified revenue streams. Robert Half generates income through placement fees, consulting project fees, and executive search commissions. This diversified approach mitigates risk and enhances the firm’s ability to adapt to evolving market dynamics. By tailoring its strategies to meet the specific needs of both clients and candidates, Robert Half sustains long-term relationships that drive recurring business.
Competitive Landscape and Differentiation
In a competitive arena populated by general staffing agencies, Robert Half’s specialization is its key differentiator. The firm’s dedicated focus on high-value, specialized sectors ensures that it delivers services that are not only rapid but also meticulously aligned with both client expectations and market demands. Its dual business model serves as a strategic advantage, positioning it as a critical partner for organizations that require specialized talent and reliable consulting services.
Commitment to Ethical Practices and Industry Expertise
Ethics and expertise form the cornerstone of Robert Half’s business ethos. The company adheres to strict ethical standards, ensuring that its recruitment and consulting practices are conducted with the highest levels of professionalism and integrity. This commitment to ethical practices is reinforced by its longstanding recognition on esteemed industry lists, underscoring the reliability and trustworthiness that clients and candidates have come to expect. By emphasizing transparency and quality, Robert Half continues to uphold its reputation as a trusted advisor in the staffing and consulting domains.
Client and Candidate Assurance
Robert Half maintains an unwavering focus on understanding and meeting the diverse needs of its clients and candidates. Its comprehensive suite of services is designed to provide a personalized approach that bridges skill gaps and fosters career development. By combining deep market insights with a refined matching process, the firm ensures that every placement contributes to both operational efficiency for businesses and career advancement for professionals.
Integration of Industry-Specific Expertise
Embedded within the narrative are industry-specific keywords such as specialized staffing, talent solutions, and professional consulting. These terms not only reflect the company's core competencies but also signal to readers the depth of its expertise. This strategic use of terminology enhances the overall understanding of Robert Half’s pivotal role in the industry, emphasizing its ability to deliver focused, effective, and ethically-grounded staffing and consulting services.
Conclusion
Robert Half Inc stands as a cornerstone in the realm of specialized staffing and business consulting. Its pioneering history, expansive global network, and dual focus on staffing and consulting converge to create a robust and adaptable business model. By maintaining ethical standards and leveraging industry-specific knowledge, Robert Half has established itself as a reliable resource for connecting highly skilled professionals with exceptional opportunities. This comprehensive approach ensures that the company remains a stalwart in its industry, delivering innovative solutions that meet the evolving needs of a diverse and dynamic workforce.
Protiviti, a global consulting firm, has received the Alliance Excellence Award from the Association of Strategic Alliance Professionals (ASAP) in the Best Ecosystem Solution category for its collaboration with SAP. The award recognizes Protiviti's innovative solution that integrates AWS cloud solutions and the Microsoft Copilot GenAI engine with SAP's offerings.
Protiviti's global ecosystem program includes over 70 strategic partnerships across various industries and consulting practices. The firm has developed a proprietary Ecosystem Maturity Model to guide alliance partners' growth. Protiviti has also received several other awards for its ecosystem program, including recognition from Blackline, Microsoft, Ardoq, ServiceNow, and Workiva.
Robert Half Inc. (NYSE: RHI) has announced a quarterly cash dividend of $0.53 per share. The dividend will be paid on Sept. 13, 2024, to shareholders of record as of Aug. 23, 2024. This announcement demonstrates the company's commitment to returning value to its shareholders and maintaining a consistent dividend policy. The declaration of a dividend often signals financial stability and confidence in future cash flows. However, investors should consider the sustainability of dividend payments in light of the company's overall financial health and market conditions.
Protiviti's 20th anniversary Internal Auditing Around the World® report highlights the significant evolution of internal audit over the past two decades. The report, titled 'Exploring a Universe of Experience as a Launchpad to the Future,' utilized AI to analyze 19 previous volumes, revealing key trends:
1. Internal audit's transformation from compliance-focused to strategic adviser
2. Shift towards value-adding services
3. Increased board reliance on internal audit for high-risk areas
4. Integration of technology and data analytics
5. Focus on diverse talent and soft skills
6. Internal audit as a catalyst for change
The report outlines five strategies for Chief Audit Executives (CAEs) to elevate their functions: prioritizing transformation, leveraging technology, cultivating talent, fostering innovation, and acting as strategic partners.
Robert Half's State of U.S. Hiring Survey reveals 52% of companies plan to add new permanent positions in the second half of 2024, while 57% expect to hire contract workers. Despite a slight decrease from the first half of 2024, hiring intentions remain strong across various specializations. 86% of employers report hiring challenges, including lack of skilled applicants, hiring speed, and meeting salary expectations. To attract talent, companies are offering hybrid work options (41%), flexible hours (41%), and higher starting salaries (38%). The survey highlights the importance of strategic hiring plans and retention strategies in a competitive job market.
Protiviti, a global consulting firm, has been awarded a 2024 Consulting Leaders in Technology award for Excellence in AI Application by Consulting magazine. The firm was recognized for its innovative AI solutions focused on fairness, inclusion, and equitable representation in healthcare and financial services, as well as a responsible AI solution to reduce air pollution. Protiviti's AI practice, led by industry veterans, is helping clients leverage AI/GenAI technology to improve decision-making and optimize customer experiences while ensuring proper governance.
Additionally, Kevin Khan, a managing director at Protiviti, received a Consulting Leaders in Technology award in the DEI Champion category. Khan is co-sponsor of Protiviti's global Multicultural Employee Network Group and serves on the board of America Needs You, a nonprofit supporting first-generation college students.
Robert Half, including its subsidiary Protiviti, has been recognized by Forbes as one of America's Best Employers for Women 2024. The selection was based on an independent survey of over 150,000 women working for U.S. employers, evaluating factors such as workplace conditions, career development, company culture, and gender equality issues.
Key highlights:
- More than half of Robert Half's global organization consists of women
- The company offers gender-focused Employee Network Groups (ENGs) including GWEN, iGROWW, and GET IT
- Robert Half provides inclusive benefits and resources for women's career success
- The recognition underscores the company's commitment to inclusivity and empowering women
M. Keith Waddell, president and CEO of Robert Half, emphasized the company's pride in its diverse perspectives and voices, and its dedication to creating opportunities for women to thrive personally and professionally.
Robert Half (NYSE: RHI) reported its Q2 2024 financial results, with net income of $68 million ($0.66 per share) on revenues of $1.473 billion. This represents a decline from Q2 2023, which saw net income of $106 million ($1.00 per share) on revenues of $1.639 billion. For the first half of 2024, net income was $132 million ($1.27 per share) on revenues of $2.948 billion, down from $228 million ($2.14 per share) on revenues of $3.356 billion in H1 2023.
CEO M. Keith Waddell noted that macroeconomic uncertainty continues to impact hiring and new project starts. However, Protiviti, Robert Half's consulting arm, posted strong results with U.S. growth in both revenues and segment income. The company maintains confidence in navigating the current climate and remains optimistic about future growth prospects.
Robert Half (NYSE: RHI), a global talent solutions and business consulting firm, has achieved a top score of 100 on the 2024 Disability Equality Index®. This recognition earns the company the distinction of being a 2024 Best Place to Work for Disability Inclusion. The company's consulting subsidiary, Protiviti, also received a top score.
The Disability Equality Index, a joint initiative of Disability:IN and the American Association of People with Disabilities (AAPD), is widely acknowledged as the most comprehensive disability inclusion benchmarking tool for Fortune 1000 companies. It measures criteria such as culture and leadership, enterprise-wide access, community engagement, supplier diversity, and employment practices.
Robert Half's commitment to diversity and inclusion is reflected in various recognitions, including being named one of Forbes' Best Employers for Diversity and one of Newsweek's Most Responsible Companies. The company's 2023 Leading With Integrity Report provides detailed insights into its socially responsible business practices and future plans.
Robert Half (NYSE: RHI) and its consulting subsidiary Protiviti have been named among the Best Workplaces for Millennials 2024 by Fortune. This recognition is based on a comprehensive survey of nearly 510,000 millennial professionals at Great Place To Work Certified™ companies, assessing factors such as trust in management, colleague connections, and company loyalty.
M. Keith Waddell, president and CEO of Robert Half, emphasized the company's commitment to offering competitive benefits, an inclusive culture, flexible work options, and career growth opportunities that appeal to millennials. The firm's recent report, 'Examining the Multigenerational Workforce,' provides insights on key trends and tips for recruiting, motivating, and retaining professionals across generations, helping employers develop supportive programs and policies for employees at all career stages.
Robert Half Inc. (NYSE: RHI) has announced its schedule for the second-quarter 2024 earnings results release and conference call. The company plans to release its earnings on Wednesday, July 24, 2024, at approximately 4:05 p.m. EDT. This will be followed by a conference call at 5 p.m. EDT on the same day. Interested parties can dial in at 888-394-8218 (+1-323-994-2093 for international callers) using the confirmation code 9156621. An audio replay will be available from 8 p.m. EDT on July 24 and will be accessible for 12 months. The call will also be archived on the company's website.
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