Latest news with #Adecco
BBC News
01-06-2025
- Business
- BBC News
Wolverhampton Council agrees £75m contract to hire agency staff
City of Wolverhampton Council has agreed a new £75m contract to employ hundreds of temporary agency workers for the next three authority agreed the deal with its existing temporary recruitment partner Adecco having dissolved its own agency YOO Recruit after 11 agreed the contract after experiencing difficulties with recruiting and retaining staff, particularly in specialist roles in adults and children's social care, finance, procurement and IT.A council report said that using agency workers was important to allow it to quickly respond to issues and demand for resource. "The use of agency workers can help the council respond to peaks and troughs in service requirements," it of Wolverhampton Council has spent more than £82.5m on agency staff in the last five years, including £40m in the last two years, the report agency contract could be extended for a further two years which would push the total cost to £100m. Follow BBC Wolverhampton & Black Country on BBC Sounds, Facebook, X and Instagram.
Yahoo
23-05-2025
- Business
- Yahoo
9 in 10 companies lack ‘future-ready' talent strategies, Adecco says
This story was originally published on HR Dive. To receive daily news and insights, subscribe to our free daily HR Dive newsletter. Only 10% of companies qualify as AI 'future-ready,' according to the results of an Adecco Group survey of 2,000 C-suite leaders across 13 countries and a variety of industries. The talent firm defined 'future-ready' as having structured plans to support workers, build skills and lead through disruption created by artificial intelligence. Companies struggling with the transformation have one thing in common, according to the report: They place unfair expectations on workers. The survey found that nearly two-thirds of organizations expect workers to proactively adapt to AI, but one-third have not instructed workers on how to use the technology, Adecco said. The small segment of companies that are AI future-ready also shared characteristics; 65%, for example, have adopted skills-based workforce planning and moved away from rigid job structures, according to the survey. The Adecco report echoes a consistent theme: To support and guide talent through the ever-accelerating pace of AI and generative AI transformation, companies need a robust plan and cannot leave employees to navigate AI use on their own. 'The difference is the mindset,' Denis Machuel, Adecco Group's CEO, said in a statement. 'Future-ready organisations aren't simply reacting to AI. Instead, these leaders are rethinking how their business works, how talent grows and how decisions are made.' However, to agree on a talent strategy, senior leaders must first be united on core talent issues, such as the organizational barriers preventing talent improvement, Adecco said. Also, if leaders expect their workforces to adapt to AI, they need to act as role models, the firm said. The survey found that only about a third of leaders worked to develop their own AI capabilities over the last 12 months. Additionally, companies are lacking data, which Adecco called the missing foundation for workforce strategy. Just 33% are investing in data to understand and close skills gaps, its research showed. Critical data includes understanding employees' generative AI training needs, according to a May report by Amazon Web Services. Lacking this understanding — and not knowing how to implement the training programs — may prevent companies from creating robust training plans that properly upskill workers, the report said. Two weeks ago, at a Workhuman conference, the founder of the AI Leadership Institute and one of the original Amazon team members who developed Alexa, emphasized HR's critical role in making sure workers are prepared for the changes. Organizations that have a future-ready mindset and have done the work see flexible, adaptable, tech savvy and proactive employees, Adecco said. Sign in to access your portfolio
News.com.au
23-05-2025
- Business
- News.com.au
Fast-growing scam targets WFH job hunters
A scam targeting work-from-home job hunters has been found to cost Australians more than all other scam types combined. The Australian Competition and Consumer Commission (ACCC) has released findings from a taskforce established to tackle job and employment scams – the fastest growing scam type of 2023. Scamwatch reports for the 2024 calendar year, Australians lost $13.7m to job and employment scams, with an average loss of $14,470. This is 5.1 per cent higher than the average loss for all other scam types combined. Job scams – which often come in the form of fraudulent offers of employment designed to encourage victims into giving money, providing personal information, or working for free – often target people seeking additional income, and flexible or work-from-home opportunities. The scams were found to have the greatest impact on people with low incomes, from culturally diverse communities, people living with disabilities and international students. The report found that fraudsters often impersonated reputable recruitment organisations such as Seek, LinkedIn and Adecco. Often, scammers message people with a job offer that includes a high income, working from home and little effort. They then attempt to acquire a victim's personal information or trick them into providing free labour. Another type of job scam is 'money mule' scams, where an innocent victim is recruited to launder money for a criminal organisation. 'The impact of job scams can be devastating and is likely significantly underreported by victims,' ACCC deputy chair Catriona Lowe wrote in the report. 'Many job scam victims report that they have lost their life savings as well as money they have borrowed from family and friends 'In addition to these financial impacts, victims incur additional harm through the loss of personal information leading to an increased likelihood of future scam losses and identity crime. 'The cost of a victim's loss of trust in recruitment processes and loss of confidence in their ability to secure meaningful employment is hard to quantify.' In 2024, 78 per cent of those who provided their age when reporting a job scam were under 44, and 18.8 per cent of job scam victims who lost money self-reported English as their second language compared with 7.7 per cent for other scam types. The National Anti-Scam Centre's Job Scam Fusion Cell brought together government, law enforcement and industry to attempt to combat the growing issue. The taskforce, which ran for six months from September 2024, led to the referral of 836 scammer cryptocurrency wallets to digital currency exchanges for analysis and investigation, leading to blocking and black-listing. Intelligence sharing led to Meta's removal of about 29,000 accounts engaged in job scams in Australian Facebook groups, and 1850 scam enablers such as websites and scam job advertisements were referred for removal.
Harvard Business Review
22-05-2025
- Business
- Harvard Business Review
Agentic AI Is Already Changing the Workforce
As AI matures, the availability of so-called 'digital labor' is exploding, expanding the very definition of a qualified workforce. What was once the exclusive domain of human talent has now been joined by AI agents capable of handling many tasks once considered beyond the reach of automation—and as a result, according to Salesforce CEO Marc Benioff, the total addressable market for digital labor could soon reach the trillions of dollars. This requires a major shift in outlook. Emerging research out of Harvard Business School and the Digital Data Design Institute shows that AI agents are fast becoming much more than just sidekicks for human workers. They're becoming digital teammates—an emerging category of talent. To get the most out of these new teammates, leaders in HR and procurement will need to start developing an operational playbook for integrating them into hybrid teams and a workforce strategy. Those who take the time to do so will unlock not just efficiency but a more scalable and resilient form of collaboration. It's already happening: Deloitte, for example, reports that it in the process of applying AI agents to 'every' enterprise process, including a marketing agent that orchestrates many tasks focused on optimizing their customers' journeys through their site. And some talent firms, among them rPotential (a spin-off from global staffing giant, Adecco) have reimagined themselves as not just providers of human talent but also architects of a broader model that includes both people and AI. To succeed in this new environment, your organization must actively shape how AI is integrated into its labor strategy. Leaders in HR and procurement who act now will retain control over how AI is sourced, structured, and regulated in the enterprise, whereas those who hesitate risk missing out on new growth opportunities—or, worse, being blindsided by compliance, ethics, and performance issues they never saw coming. This is a general strategic concern when it comes to anything disruptive: You can no longer ignore new technologies, especially AI, hoping they'll go away. You have to be deeply engaged with building your systems so that you deeply understand how you need to adapt as the world changes. Firms that delay will also struggle to attract top human talent, as more candidates will expect smart, AI-supported workflows that enhance their productivity and creativity. Meanwhile, faster-moving competitors will embed AI directly into their operating models, enabling them to out scale and outlearn by increasing output without adding headcount. In addition, as large enterprise and government buyers begin to demand robust, auditable AI policies and governance frameworks, organizations that lack maturity in these areas will find themselves at a disadvantage, potentially losing out on critical contracts and partnerships. Inaction, therefore, is not just a missed opportunity—it's a tangible business risk. Seven Critical Actions Drawing on our collective experience within data science and AI, and in the open-talent and staffing ecosystem, we've devised framework to help you get started—a guide to help HR and procurement teams design, test, and scale a new kind of workforce strategy based on the idea of human-AI teams. Map work tasks and outcomes. The objective here is to deconstruct each role or project into its component tasks and outcomes. Just as you would define competencies for human candidates, you need to identify the tasks that can be better, faster, or more cost-effectively handled by AI agents. For instance, high-volume data validation or repetitive call-center functions might be prime candidates for AI. Meanwhile, tasks requiring complex judgment, persuasion, or deep domain expertise may still lean on human insight—or a hybrid approach. The key thing to remember is that you're not just 'buying labor' anymore. You're buying an outcome that might come from a combination of people and AI. So, start each sourcing discussion with a nuanced breakdown of tasks, so you can tailor the right mix of talent. Assess AI capability. It's vital to understand which AI models and platforms align best with your specific tasks and workflows. To do that, build an internal taxonomy of AI capabilities that map to your common roles not only in, say, data validation or call-center functions but also other roles, including marketing analyst, customer-support rep, scheduling coordinator, and so on. Language models might excel at drafting marketing copy, but specialized computer-vision agents might be best for quality checks in manufacturing. By creating a capabilities 'catalogue,' you can avoid a one-size-fits-all approach. In procurement terms, this is your RFP for AI solutions. Know which models solve which problems, and partner with staffing or technology vendors that can prove domain expertise. This ensures you're not paying top dollar for AI hype that may not match the actual needs of the business. Integrate your hybrid team. If you want AI agents and human teams to work well together, you need crystal-clear role boundaries. So, develop a hybrid-workforce strategy in which you define which tasks AI will own, which tasks people will own, and how the escalation of problems should happen. For example, if an AI customer-service agent receives a complaint about a complex billing dispute that concerns an amount above a certain dollar threshold, a rule might automatically route it to a human specialist. By documenting roles, protocols, and 'hand-off' points when responsibilities shift in a workflow from one party to another, you build trust across your organization, preventing conflict or duplication. Redesign your business (and workforce) model. This requires envisioning new ways to procure and deploy talent, including full-time employees, temporary hires, freelancers, and AI. To do that, you'll need to consider multi-tiered models such as client-owned digital labor (you license or build your own AI solutions, effectively bringing 'digital employees' in-house); leased digital labor (you 'rent' AI agents from a third party, in a manner akin to traditional temp staffing); and fully outsourced AI subdepartments (you partner with a vendor that runs entire processes, such as order fulfillment or call centers, using both AI and a small team of human experts). Align these models with your financial, compliance, and strategic needs. For instance, leasing AI might be ideal for seasonal spikes, whereas fully outsourced solutions could be more efficient for repetitive but critical functions. Keep in mind that your role is to integrate and manage a wide spectrum of labor types, which will require developing new KPIs and cost structures that reflect digital labor's unique economics (scalability, near-constant uptime, quick retraining) compared to human labor. Set legal and ethical ground rules. The point here is to proactively address bias, liability, data governance, and broader societal implications of AI-led work. To do that, you'll need to collaborate with legal, compliance, and ethics teams to draft enterprise-wide standards for AI usage. These policies should define whether and how AI learns from proprietary data, how to detect and remedy bias, and how to safeguard personal or sensitive information. If your enterprise is global, anticipate a patchwork of regulations in different jurisdictions. This is important: Ethical missteps —like discriminatory hiring algorithms or data misuse—can ignite PR crises and create regulatory liabilities. Many governments are moving quickly on AI legislation. Firms that proactively create frameworks and foster AI culture early will be able to adjust and react to future legislation much better than firms who wait and are forced to start the process after any legislation. Capture value continuously as it evolves. To do this properly, you'll need to constantly monitor performance, measure outcomes, and refine your AI-human mix. Think beyond a one-time AI deployment. Establish feedback loops that measure performance, update AI training data, and revise your sourcing strategies. For instance, if your AI-based scheduling tool frequently encounters edge cases requiring human intervention, you may need more advanced AI training or more robust human oversight. Traditional 'set it and forget it' approaches to staffing don't apply here. AI's value compounds over time as it learns from interactions. Negotiate contractual agreements that let you capture improvements while also respecting the intellectual property (IP) rights of your vendor or the data sovereignty of your enterprise. Remain human-centric. AI reduces the need for people to conduct mundane tasks and elevates the importance of high-value, human-led tasks. Ensuring that employees can continue to carry these latter tasks out not only sustains morale but also delivers differentiating value to your enterprise, which is something your competitors can't simply download. So invest in forms of training and skill development that enable employees to not only adapt to working alongside AI but also leverage AI to amplify their own impact. Focus on capabilities like relationship building, ethical decision-making, and creativity—areas where humans still have a distinct edge. Preparing for Radical Change Whether you adopt AI labor directly or source it through a staffing or open-talent provider, ask yourself these pivotal questions to guide your strategy: When AI is trained on your proprietary data, who owns the resulting capabilities, you or the owner of the AI model or agent? Are new legal frameworks needed, including employment-like contracts for AI agents, and who bears liability if the AI makes a mistake? Are there oversight and equity questions that remain unresolved? What guidelines exist for choosing between humans and AI for certain jobs, especially when ethics, brand reputation, or job protection are on the line? And, ultimately, an open question for discussion: How will the very definition of 'work' evolve when AI agents become embedded in teams, possibly even gaining legal or ethical status? It's not necessary to answer all of these questions upfront, but use them as a guide and continue to answer them along your journey. These are not theoretical concerns—they're strategic inflection points. The organizations that move first to resolve them will shape how the future of work is defined and who controls its value. As you consider how to move forward, reflect on the guiding principle of human centricity. While AI can handle many tasks more quickly than humans, your enterprise still relies on the insight, empathy, and relationships that only people can deliver. By maintaining this dual focus—on unleashing AI's efficiency and safeguarding human creativity—you stand the best chance of driving sustainable growth.
Yahoo
11-05-2025
- Business
- Yahoo
Adecco Group AG (AHEXF) Q1 2025 Earnings Call Highlights: Navigating Challenges with Strategic ...
Revenue: EUR5.6 billion, 2% lower year on year on an organic trading days adjusted basis, 3% higher sequentially. Gross Margin: 19.4%, 40 basis points lower year on year. EBITA: EUR132 million, margin of 2.4%, 40 basis points lower year on year. Adjusted EPS: $0.48, 20% lower year on year. Cash Flow from Operating Activities: Minus EUR144 million. Cash Conversion Ratio: 105%. Net Debt: EUR2.7 billion. Net Debt to EBITDA Ratio: 3.2 times. Adecco Revenues: EUR4.4 billion, 1% lower year on year, 3% higher sequentially. Adecco EBITA Margin: 3.1%, up 10 basis points year on year. Adecco Americas Revenues: 4% higher, with North America 2% lower and Latin America 14% higher. Adecco APAC Revenues: Up 11%. Akkodis Revenues: 8% lower year on year. LHH Revenues: 5% lower year on year. Warning! GuruFocus has detected 6 Warning Signs with AHEXF. Release Date: May 08, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Adecco Group AG (AHEXF) gained further market share with solid margin performance, outperforming key competitors by 130 basis points. The company saw a return to growth in the Adecco US segment, with revenues improving sequentially. Adecco Group AG (AHEXF) is adopting AI solutions to accelerate growth, including pre-screening agents in the UK and new AI capabilities in Germany. The company's cash conversion ratio was strong at 105%, indicating efficient cash management. Adecco Group AG (AHEXF) has a robust financial structure with strong liquidity resources, including an undrawn EUR750 million revolving credit facility. Revenues were EUR5.6 billion, 2% lower year on year on an organic trading days adjusted basis. Adjusted EPS was $0.48, 20% lower year on year, mainly due to lower business income. Cash flow from operating activities was negative at minus EUR144 million. The EBITA margin, excluding one-offs, was 2.4%, 40 basis points lower year on year. Akkodis Germany faced significant pressure, with revenues 15% lower due to weaker demand in the automotive sector. Q: Can you provide more color on the trends by different GBUs and whether Adecco has reached a break-even on growth potential in Q2? A: Coram Williams, CFO: The chart shows modest positive momentum through Q1, continuing into Q2. This is broad-based across major territories, with North America returning to growth. We are close to break-even on volumes, indicating positive momentum. Other business volumes vary, with career transition showing good momentum, while permanent placements face pressure. Q: How is the defense sector impacting Adecco, and what is the outlook? A: Denis Machuel, CEO: Defense represents about 5% of group revenue, mainly in Akkodis. We expect momentum, especially in Germany, once stimulus packages are underway. We've renewed framework agreements in France and secured a significant contract in Japan. Our expertise in autos is transferable to defense, promising future growth. Q: How do you plan to recover Akkodis Germany and what are the competitive dynamics? A: Denis Machuel, CEO: Akkodis Germany faces challenges due to high exposure to the auto sector. We are executing a turnaround plan involving business disposals, restructuring, real estate optimization, and offshoring. We aim for profitable exit rates by year-end, leveraging our strong client relationships and diversifying into promising sectors like defense. Q: Can you elaborate on the restructuring in Germany and the expected one-off costs? A: Coram Williams, CFO: The exit rate in Germany was consistent through Q1, with challenges persisting. We've increased our one-off cost expectations to EUR50 million for the year, reflecting German restructuring costs. We maintain discipline in managing one-offs, ensuring accountability for decisions impacting the P&L. Q: How is the restructuring in France progressing and what cost savings are expected? A: Denis Machuel, CEO: The restructuring in France is mostly complete, with ongoing adjustments to market dynamics. We are improving performance relative to the market and expect to surpass market growth as the year progresses. A new leader in France is focusing on efficiency, digitization, and securing large contracts. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
