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TrueBlue, Inc. (NYSE: TBI) is a premier provider of staffing, recruiting, and workforce management solutions, supporting a diverse range of industries including construction, energy, manufacturing, financial services, pharmaceuticals, transportation, and aviation. TrueBlue assigns as many as 100,000 individuals to work daily, drawing from an extensive database of candidates, and places over 250,000 people in permanent positions annually.
The company's operations are structured into three main segments:
- PeopleReady: Specializes in industrial staffing services, offering on-demand labor solutions to meet immediate workforce needs.
- PeopleManagement: Provides contingent, on-site industrial staffing and productivity-based services, catering to clients' specific operational requirements.
- PeopleScout: Offers a range of recruitment process outsourcing (RPO) services, talent advisory, and managed service provider (MSP) solutions, helping organizations streamline their hiring processes and achieve better talent outcomes.
Recently, TrueBlue's research through PeopleScout, in collaboration with Spotted Zebra, revealed that 90% of HR leaders believe that half of their workforce will need reskilling in the next five years. Despite this, only 7% have active reskilling programs. The study highlighted the critical need for skills-based talent acquisition and management strategies as global labor trends evolve due to automation, AI adoption, and other technological advancements.
TrueBlue remains a trusted advisor to numerous clients across various sectors, addressing the widening skills gap and emphasizing the importance of future-focused skills strategies. In 2022, TrueBlue served 84,000 clients and connected approximately 611,000 people to work. In 2023, the company served 67,000 clients, connecting around 464,000 people to job opportunities.
The PeopleReady segment is currently gearing up for the summer hiring surge in the hospitality industry, connecting businesses with qualified workers for major events like the Indy500, NBA Finals, and U.S. Open, among others. With a comprehensive presence in more than 600 markets across the U.S., PeopleReady's JobStack app allows job seekers to find work conveniently from their mobile devices.
A recent analysis from PeopleReady reveals a significant shortage of skilled trade workers in the U.S., with jobs remaining unfilled for an average of one month. The gap is largely attributed to retiring baby boomers. According to Jill Quinn, the demand for apprentice-level positions is high, offering steady, well-paying job opportunities. Notably, job postings for plumber apprentices have surged by 24%, while median hourly wages for helper positions stand at $16, potentially increasing with training. This presents a compelling opportunity for job seekers.
PeopleReady Skilled Trades reports significant growth in the skilled trades sector amid economic challenges, with nearly 400,000 job postings since March 2020. Key areas of demand include drywall finishers (100% increase) and tile and stone setters (94%). Recently, job postings surged, particularly for drywall finishers (300%) and boilermakers (78%). The company aims to connect tradespeople with available job opportunities, especially as the construction season approaches, highlighting the resilience and thriving nature of skilled trades in a fluctuating job market.
PeopleReady, a staffing leader, is adapting to ongoing workforce changes by launching a new brand promise, 'Within Reach', alongside refreshed branding and website updates. The company aims to enhance its digital transformation efforts, connecting over 90,000 job seekers each month through a centralized sourcing engine and virtual onboarding experience. Key features, such as the new Apply to Dispatch function within their JobStack app, have significantly reduced hiring times by 87%, enabling quicker connections between candidates and employers.
TrueBlue (NYSE:TBI) reported its Q4 and full-year 2020 results, with full-year revenue declining to $1.8 billion, down 22% from 2019. The company faced a net loss per diluted share of $4.01, contrasting with a net income of $1.61 in the prior year. For Q4, revenue was $519 million, a 12% decrease from Q4 2019. Adjusted net income per diluted share also fell to $0.33, a 15% decline year-over-year. Despite these challenges, the CEO highlighted improvements in revenue trends, cost discipline, and ongoing investments in digital strategies, particularly the JobStack app.
TrueBlue (NYSE: TBI) announced it will release its fourth quarter and full-year 2020 earnings results after market close on Feb. 3, 2021. This release will be followed by a webcast at 2:30 p.m. PST (5:30 p.m. EST) on the same day, where management will discuss the results.
TrueBlue is a leader in workforce solutions, connecting around 724,000 individuals with work opportunities in 2019 through its PeopleReady, PeopleManagement, and PeopleScout segments. For more information, visit www.trueblue.com.
TrueBlue announced that three of its executives have been recognized in Staffing Industry Analysts' Global Power 150 Women in Staffing list. Taryn Owen, Jill Quinn, and Loree Lynch have been acknowledged for their leadership in the staffing industry. Owen, president of PeopleReady, has driven digital transformation with the JobStack platform. Quinn, president of Centerline Drivers, emphasizes driver safety and employee culture. Lynch, SVP of Staff Management | SMX, has pioneered on-site staffing. TrueBlue highlights the importance of diversity and inclusion within the organization.
TrueBlue has announced three of its leaders have been recognized in Staffing Industry Analysts’ Global Power 150 Women in Staffing list for 2020. This is the sixth iteration of the list that honors influential women in the staffing industry. The executives celebrated include Taryn Owen, Jill Quinn, and Loree Lynch, all noted for their contributions and leadership roles in the company. TrueBlue is committed to promoting diversity, equity, and inclusion in its workforce, which is exemplified by its strong female leadership and initiatives to create a positive employee culture.
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