OUR STRATEGIC OBJECTIVE
Virtuosity makes the difference and will drive market beating value creation.
OUR STRATEGIC ADVANTAGE
We retain our customers, people and investors longer than our competitors because they trust us to do what we say we are going to do. We collaborate across our multi-branded portfolio with a common language and a set of signature practices (‘The Impellam Way’) to deliver differentiated, integrated solutions to our customers and fulfilment to our people.
OUR STRATEGIC SCOPE
We strive to only work with customers who value engaged, fulfilled and purposeful people, and who will allow us to take our share of the economic value we create as we help them build a better business.
We are a staffing solutions company with the sole focus of offering high-value, differentiated Managed Services and Specialist Staffing solutions. We always draw on our core competency and never take on work we do not understand.
We have multi-branded, multi-service offerings in the US, UK, Europe, Middle East and Australasia. In support of our mission, we may choose, very selectively, to invest in and operate with specific clients in other countries, and to find exciting opportunities for our people globally.
We have a unique, differentiated model which integrates Managed Services and Specialist Staffing into a full workforce solutions management platform for our customers’ permanent, contingent and Statement of Work (SOW1) spend. We do important work and we get work done.
1 Statement of Work (SOW) solutions are spend in complex categories of service
OUR THREE PRIORITIES IN 2018
WHAT IT MEANS
Enable our Virtuosos
Virtuosos doing what people do best enabled by reliable technology. We will get out of the way of our Virtuosos and make sure they are leading more of the Group, future proofing the portfolio and delivering new, incremental revenue stream.
Transform our portfolio
We’ll accelerate our Managed Services growth by selectively integrating our Managed Services brands across our major geographies to make it easier for our high-road customers to access our talented and engaged people. We’ll refine our Specialist Staffing portfolio and will build scale in growing global verticals whilst responding to macro trends and developing new business lines in new verticals opened by the gig economy.
We’ll improve our resilience by building brand density and scale in non-UK geographies. We’ll enter new markets organically and through acquisition both to defend our key high-road client relationships and to enter growth verticals and economies.
Our business model
By collaborating closely, our Managed Services and Specialist Staffing businesses provide market-leading positions across our core markets.
This means that, within the Group, we are always equipped to deliver the right service at the right time to the customers we choose to work with.
OUR BUSINESS MODEL
High visibility of future earnings.
Manage the end-to-end staffing process for a wide range of high-road customers.
Meeting high-volume need.
Effective process management and innovation.
Public, private and not-forprofit sectors.
Higher gross profit, more cyclical business.
Provides specialist workers for permanent, temporary, contract and fixed price work.
Specialist recruiters delivering bespoke recruitment services to high-road customers.
Specialisms: healthcare, social care, legal, engineering, catering, driving, office, industrial, science, clinical, education, finance and accountancy, sales, IT, aviation and cleaning.
At the heart of our high-retention model is a virtuous circle of making and keeping promises, engendering trust and loyalty.
High-retention businesses will retain clients, candidates, employees and investors for longer, and reap the benefits of that longevity.
All Impellam businesses, as well as any business we acquire, believe in high-retention already and, with our help, are on course to become so.
We tune in to our customers and work closely with them to find engaged people to help them build better businesses. We retain them, continuing to listen and partner with them to extend the scope and tenure of our services, and in so doing open up more opportunities for organic growth.
- Client recommendation of +9 NPS score1
- Client retention2 of 96%
From the outset, we listen to our candidates and find them work that fulfills them and matches their attitudes, skills and aspirations. We reward our candidates fairly, retain them by treating them well, and find them work that interests and develops them. In turn, this encourages them to refer us to friends and indeed employers.
- Candidate recommendation of +25 NPS score1
We employ people who care about what we do. We develop them so they have the right skills and experience to do their job by being experts in their field. Ultimately, we trust them to make the right decisions, collaborate and deliver on their promises.
- Manager retention3 87%
- Development of Virtuoso managers4 of 25%
We take great care to create strong relationships with investors who understand our strategy and business model. We build on the trust we have created by delivering on both our financial and nonfinancial promises.
- Basic EPS of 61.9p (2016:87.4p)
- Final dividend of per share 13.5p (2016: 13.5p)
1 Net Promoter Score (‘NPS’): the likelihood of our customers and candidates recommending our services to a friend or colleague
2 Refers to our top 50 clients
3 UK only
4 % of managers who participated in the Virtuoso training in 2017
Our investment proposition: trusted through changing times
The world of work is changing rapidly: the demographics of the workforce are shifting and new generations are demanding work with more purpose and meaning; clients and candidates are seeking to work ever more flexibly, and the increasingly rapid adoption of technology is challenging our view of the workplace – the need for trust and transparency has never been greater.
We operate a differentiated and sustainable high-road business model that builds customer loyalty, trust and advocacy.
Our deep heritage in contingent staffing provides a clear competitive advantage as clients increasingly seek more flexible ways to work. Our Managed Services businesses deliver long-term contracted revenues which provide earnings visibility and sustainable value. This is complemented by our portfolio of higher margin, expert-to-expert Specialist Staffing brands. We create incremental value for our stakeholders through our collaborative, cross selling culture across the portfolio.
We provide our Virtuoso leaders with the autonomy to deliver these solutions to our clients and entrepreneurially identify new opportunities. We continue to empower and enable our Virtuosos with technology to free them up to build more meaningful relationships with our clients and candidates.
We have market-leading positions and capabilities in many of our core markets which provide a significant competitive advantage. We leverage these capabilities to expand into new markets and develop new revenue streams.
We focus on identifying and executing earnings-enhancing, strategic acquisitions that support the ambitions of our high-road clients, expand the geographic footprint of the business and provide further resilience across the portfolio.
Our balanced portfolio and high-retention business model delivers sustainable financial performance throughout the economic cycle.
Our strong focus on cash generation enables us to reinvest in the portfolio and continue to deliver dependable dividends to shareholders.