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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.
TrueBlue has appointed Taryn Owen as President and Chief Operating Officer, effective immediately. Owen, who joined TrueBlue in 2010, will oversee all operating segments, technology, marketing, and human resources. She has previously served as President of the PeopleReady and PeopleScout brands and has been instrumental in the company’s growth and pandemic response. CEO Steve Cooper praised her dynamic leadership and commitment to TrueBlue's mission. TrueBlue connects approximately 615,000 individuals with work annually, providing specialized workforce solutions across industries.
PeopleReady reports a significant rise in demand for part-time and flexible employment options amidst ongoing inflation. The analysis highlights a 26% year-over-year increase in job postings for these roles, with over 500,000 unique postings in the last month alone. Notably, the labor force is still nearly four million workers short since the pandemic, impacting workforce participation, especially among women. The report identifies top roles in this sector, including retail sales and fast food positions, emphasizing the importance of flexibility for parents returning to work.
TrueBlue (NYSE:TBI) reported a robust second quarter of 2022, achieving a 10% revenue increase to $569 million compared to $516 million in Q2 2021. Net income per diluted share rose to $0.72, up from $0.45, while adjusted net income increased to $0.82 from $0.47. The company experienced strong demand for its PeopleScout services, although demand for PeopleReady softened as clients reassessed labor needs. TrueBlue anticipates long-term growth supported by its strategic initiatives and operational efficiencies.
The latest analysis by PeopleReady Skilled Trades reveals a significant shortage of skilled labor, exacerbated by the COVID-19 pandemic. Between March 2020 and December 2021, over 4 million jobs in skilled trades, particularly in construction, remained unfilled, more than double pre-pandemic levels. The aging workforce is concerning, with 40% of skilled trades workers over 45, and less than 9% aged 19-24. To combat this, PeopleReady introduced the Respect the Craft™ program, allowing tradespeople to earn up to $1,500 in rewards and compete for the Tradesperson of the Year title worth $5,000.
TrueBlue (NYSE: TBI) is set to release its second quarter 2022 earnings on July 25, 2022, post-market close. A management discussion via webcast is scheduled for 2:30 p.m. PT (5:30 p.m. ET) on the same day. TrueBlue is recognized for providing specialized workforce solutions, connecting around 615,000 individuals with employment opportunities in 2021. The company operates through various segments including PeopleReady, PeopleManagement, and PeopleScout, catering to diverse industry needs.
PeopleScout's Affinix has been recognized for Best Advance in Practical AI in the 2022 HR Tech Awards, placing it in the top 1% of over 5,000 HR technology providers. This accolade highlights Affinix's innovative approach to enhance talent acquisition by integrating artificial intelligence, machine learning, and predictive analytics to address hiring challenges amid a talent shortage. PeopleScout's commitment to ongoing enhancements and a personalized candidate experience has attracted significant recognition, including multiple awards in artificial intelligence and diversity solutions.
PeopleScout has been awarded two honors at the 2022 Vega Digital Awards, receiving a Centauri award for its Talking Talent podcast and an Arcturus award for its digital recruitment marketing campaigns. With over 1,500 entries from 24 countries, this recognition underscores the importance of innovative recruitment strategies amidst ongoing skills shortages. Caroline Sabetti, Chief Marketing Officer, emphasized the team’s commitment to connecting people with work. This achievement highlights PeopleScout's dedication to excellence in the evolving digital landscape of talent acquisition.
TrueBlue, Inc. (NYSE: TBI) announced the resignation of CEO Patrick Beharelle effective June 14, 2022, following an investigation into his conduct that violated company policies. Steven C. Cooper, the current Chairman and former CEO, has been appointed as the new CEO. The Board emphasized the importance of company values and believes the change is in the best interest of stakeholders. TrueBlue is recognized for providing specialized workforce solutions and connected around 615,000 people with jobs in 2021.
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