On Assignment Reports Fourth Quarter and Full Year 2011 Results
On Assignment News Release (02/14/12)
On Assignment Inc. today reported results for the quarter and the year ended Dec. 31, 2011. Revenues for the fourth quarter of 2011 were $161.8 million, up 34% year-over-year. Revenues for the full year 2011 were $597.3 million, up 36% year-over-year.
Net income for the fourth quarter of 2011 was $7.5 million, compared with $2.8 million for the fourth quarter of 2010. Peter Dameris, president and chief executive officer of On Assignment, said, “We believe we are well positioned to take advantage of what we believe will be historic secular and cyclical growth for the staffing industry over the next three to five years.”
Insperity Announces Fourth Quarter and Full Year Results
Insperity Inc. News Release (02/14/12)
Insperity Inc. today reported results for the fourth quarter and year ended Dec. 31, 2011. For the fourth quarter, the company reported net income of $10.8 million, a 39.2% increase over the $7.8 million earned in the 2010 period. For the year ended Dec. 31, 2011, the company reported net income of $30.5 million, a 35.8% increase over the $22.4 million earned in 2010.
Revenues for the fourth quarter of 2011 increased 13.7% over the 2010 period due to a 9.7% increase in the average number of work site employees paid per month and a 3.6% increase in revenues per work site employee per month. Revenues in 2011 were $2.0 billion, a 14.9% increase over 2010.
BBSI Reports Fourth Quarter and Full Year 2011 Financial Results
Barrett Business Services News Release (02/13/12)
Barrett Business Services Inc. reported financial results for the fourth quarter and full year ended Dec. 31, 2011. Net revenues for the fourth quarter of 2011 increased 15% to $84.7 million, compared with $73.6 million in the fourth quarter of 2010. Total gross revenues in the fourth quarter of 2011 increased 23% to $423.6 million, compared with $344.2 million in the same quarter of 2010. The increase was primarily attributable to the continued net increase in the company’s professional employer organization client count and to a small increase in same-store sales growth.
Net loss for the fourth quarter was $93,000, compared with net income of $3.1 million in the year-ago quarter, due to an increase to the company’s workers’ compensation reserve of approximately $8.5 million in the fourth quarter of 2011. Net revenues for the full year of 2011 increased 15% to $314.9 million, compared with $273.1 million in 2010. Net income in 2011 was $14.3 million, compared with net income of $7.4 million in 2010.
Obama Seeks Consolidation of Jobs Programs in Labor Agency Cuts
Bloomberg (02/13/12) Holly Rosenkrantz
President Barack Obama has proposed a consolidation of job-creation programs as part of his 2013 U.S. Department of Labor budget, which would see a 4% reduction. The savings reflect elimination of overlapping job-training programs and consolidation of regional offices.
The budget increases funding for agencies that protect worker wages, benefits, health, and safety, and invests in detecting employer misclassification of workers as independent contractors. The budget provides a $6 million increase for the Wage and Hour Division of DOL for intensified enforcement of the Fair Labor Standards Act and the Family and Medical Leave Act.
Upcoming ASAPro Webinars—Drug and Alcohol Testing, and the Value of Social Media
Have you registered for the educational programs ASA is offering in February? ASA members have free access to ASAPro Webinars and most courses on ASAPro—the ASA online professional development center.
Register today for
All ASAPro Webinars are free for ASA members ($295 for nonmembers) and qualify for continuing education hours toward ASA certification renewal. Register online at americanstaffing.net.
ASA CEO to Speak on Staffing Trends, Opportunities, and Challenges
The Georgia Staffing Association, an ASA-affiliated chapter, will host a luncheon this Thursday, Feb. 16. Join ASA president and chief executive officer Richard Wahlquist as he discusses talent advocacy and the staffing and recruiting industry’s short-term and long-term future.
Finding top talent; matching top talent with needs and opportunities; and ensuring that top talent are nurtured, challenged, and on identifiable growth trajectories have become pressing strategic priorities for businesses in the U.S. and around the world. Wahlquist will discuss ways that you can best leverage new opportunities on behalf of your firm, your clients, and your candidates and employees.
For details and to register visit gsa.camp8.org. This meeting qualifies for continuing education hours toward ASA certification renewal.
House Republican Leaders Pivot on Payroll-Tax Cut
Wall Street Journal (02/14/12) Naftali Bendavid
House Republicans have agreed to extend the current payroll tax reduction for the rest of the year without spending cuts to offset the cost, a major breakthrough in the effort to reach bipartisan agreement on the issue. The revised stance was welcomed by Democrats, and one Democratic leadership aide says a final deal is now likely within 48 hours on a broader set of issues. “There are other important issues that remain, but this concession by the Republicans resolves the big enchilada in these discussions,” the aide says.
Republican leaders say they will advance legislation on the payroll tax alone as a “backup plan.” They add that the proposal still will have to be approved by their rank-and-file members, many of whom have adamantly opposed programs that would worsen the federal budget deficit.
U.S. Department of Labor Issues New Rules for Guest Workers
New York Times (02/11/12) Julia Preston
The U.S. Department of Labor on Feb. 10 announced changes to its H-2B temporary worker program, which lets overseas workers into the U.S. when qualified Americans are unavailable. Under the new rules, DOL will create a nationwide electronic registry where employers must post all jobs they are seeking to fill with H-2B workers. Also, the recruitment period of Americans is expanded, requiring employers to hire any qualified local worker who applies up to three weeks before the start of an H-2B contract. Employers that use the program regularly say the new rules, which will take effect April 23, will make the process too slow and cumbersome for their seasonal businesses and will ultimately lead to the loss of American jobs.
Hiring Gains Are on the Horizon
ACA International (02/14/12)
A new report from the Society for Human Resource Management indicates that more companies plan to hire workers this month than lay them off, though the percentage expecting to add jobs is down 12.3% from last year. On a year-over-year basis, hiring will decrease by a net of 12.3 points in the service sector and a net of 2.5 points in the manufacturing sector. However, the SHRM Leading Indicators of National Employment Report shows that 26.3% of service-sector companies expect to hire workers this month, while only 5.4% are planning layoffs. Meanwhile, 49.1% of manufacturing companies plan to hire workers, and only 8.9% anticipate layoffs.
The recruiting-difficulty index for both sectors rose in January, with 12.2% of human resource managers in the manufacturing sector and 6.8% in the service sector indicating difficulty in recruiting for key positions. The number of firms reporting gains in new-hire compensation was up 1.8 points year-over-year in the manufacturing sector and 5.6 points in the service sector.
LinkedIn Blows Other Social Networks Out of the Water for Recruiting
WebProNews (02/13/12) Chris Crum
Employers use LinkedIn more than other social networks for recruiting purposes, according to a new report from Bullhorn Reach. “For job applications, LinkedIn is driving almost nine times more applications than Facebook and three times more than Twitter,” according to a spokesperson for Bullhorn Reach. The “Social Recruiting Activity Report” shows that the average recruiter adds 18.5 LinkedIn connections, 3.3 Twitter followers, and 1.4 Facebook friends every week. However, Twitter followers are nearly three times more likely than LinkedIn connections to submit applications.
The report also reveals that 48% of recruiters use only LinkedIn, 19% use only LinkedIn and Twitter, 10% use only LinkedIn and Facebook, 1% use only Facebook, 1% use only Twitter, and 1% use only Facebook and Twitter, but 21% use all three social networks. Additionally, 28% of recruiters have 1,000 or more LinkedIn connections, 75% have 100 or fewer Twitter followers, and 21% have 50 or fewer Facebook friends.