ManpowerGroup 2004 Annual Report Download - page 41

MANPOWER INC. 2004 Annual Report39
BUSINESS OVERVIEW
Manpower Inc. is a world leader in the employment services industry.
Our global network of over 4,300 offices in 67 countries and territories
allows us to meet the needs of our customers in all industry segments,
whether they are global, multi-national or local companies. By offering a
complete range of services, we can help any company – no matter
where they are in their business evolution – raise productivity through
improved strategy, quality, efficiency and cost reduction.
We do this through the Manpower family of companies (see Principal
Operating Units) which includes:
Manpower – temporary and permanent staffing, employee assess-
ment, and training
Jefferson Wells – professional financial services
Right Management Consultants – career transition and organizational consulting services
Elan – IT recruitment and managed services
For example, to ensure that customers have the right person – with the right skills – when business demand is high,
we offer permanent, temporary and contract recruitment, and employee assessment and training services. We also
provide highly specialized professional services, such as internal audit and controls, technology risk management, tax,
finance and accounting services. If customers are searching for ways to work “smarter,” we also offer a wide range
of organizational consulting services such as strategic talent management and leadership development. On the other
hand, if a customer’s business demand is low, we offer career transition (outplacement) services. We also offer
managed services if a customer wants to outsource a complete business function with us, such as call center, help
desk, recruiting, or manufacturing operations. This balanced business mix allows us to offset the cyclical affects of the
national economies in which we operate.
Our leadership position also allows us to be a center for quality employment opportunities for people at all different
points in their career paths. Each year, we employ more than two million people who work to help our more than
400,000 customers meet their business objectives. Laborers, seasoned professionals, mothers returning to work,
elderly persons wanting to supplement pensions and disabled individuals – all turn to Manpower for employment.
Similarly, governments of the nations in which we operate look to us to help them reduce unemployment and train
the unemployed with the skills they need to enter the workforce. In this way, Manpower is a bridge to permanent
employment for those who desire it.
Our industry is large and fragmented, comprised of thousands of firms employing millions of people and generating
billions of U.S. Dollars in annual revenues. It is also a highly competitive industry, reflecting several trends in the global
marketplace, notably increasing demand for skilled people and consolidation among customers and in the employment
services industry itself.
We manage these trends by leveraging established strengths, including one of the employment services industry’s
best-recognized brands; geographic diversification; size and service scope; an innovative product mix; and a strong
customer base. While staffing is an important aspect of our business, our strategy is focused on providing both the
skilled employees our customers need and high-value workforce management solutions.
Customer demand for employment services is dependent on the overall strength of the labor market and secular trends
toward greater workforce flexibility within each of the countries in which we operate. Improving economic growth typically
results in increasing demand for labor, resulting in greater demand for our services. Correspondingly, during periods of
weak economic growth or economic contraction, the demand for our staffing services typically declines, while demand
for our career transition services accelerates.
MANAGEMENT’S DISCUSSION AND ANALYSIS
of financial condition and results of operations
2,041.1 United States
5,226.7 France
5,084.3 EMEA
340.6 Jefferson Wells
431.1 Right
1,806.2 Other Operations
REVENUES FROM SERVICES
in millions ($)
OPERATING UNIT PROFIT
in millions ($)
49.3 United States
178.8 France
115.1 EMEA
51.4 Jefferson Wells
24.5 Right
46.0 Other Operations