ManpowerGroup 2006 Annual Report Download - page 11
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Please find page 11 of the 2006 ManpowerGroup annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.Notonlyareweconfidentthatourspecialtybusinesseswilldrive
profitablerevenueinthefuture,butwe’vealsomadeamajor
commitmentinemergingmarketslikeIndia,ChinaandEastern
Europe.Wegrewthecombinedrevenuesfromtheemerging
marketsby95percentin2006.Throughoutthethreeglobal
regionsweexpandedouremployeebasefrom828tomorethan
1,300,significantlyincreasingourposition,whichbodeswellfor
bothourshort-termandlong-termplansinthesemarkets.Eachof
theseregionsisparticularlyimportantforus,asmanyofourmajor
clientsaremovingtothesecountriestoexpandtheirbusinesses,
buttheyarenowconfrontedwithtalentshortages,wageinflation
andhighattrition–areasthatwehaveworkedonspecificallyto
addresshowtohelpourclientswinintheseemergingmarkets.
Inthenextyear,wewilladdnewofficesinthesemarketstofurther
expandourglobaloperations.
Inadditiontotheimportanceofstrengtheningourrevenue
streams,wearefirmlycommittedtolinkingourefficiencystrategy
withtheinitiativesweareundertakingtoimprovecosteffectiveness.
In2006,welaunchedaprojecttoreduceournon-personnel
spendandmakesurethatexpenses,whicharenotaddingvalue
forourclients,areeliminatedfromourorganizationinorderforus
toreinvestthosefundsintotwomajorareas:returningthemto
you,theshareholder;andinvestingthemintoclient-facingpersonnel
andbranchofficesinkeymarketstodrivetherevenuestrategy.
Theprojectexceededourexpectations,aswesurpassedourcost
savingsgoal.Asaresult,wewillbeinvestinginimportantactivities
likehiringanadditional1,500recruitersinthepermanentrecruitment
businessin2007and2008.
Themostimportantoutcomeofthisprojectisthewaythatit
changedthebehaviorwithintheorganization.Indeed,success-
fullyrecalibratingourcostbaseisimportant,butequallyimportant
isthegrowingconfidenceandcommitmentourteamhasgained
intheirabilitytocontinuallyimproveourcostbase.Acrossthe
Manpowerworld,wearecommittedtoachievingtheperfect
balancebetweenefficiencyandquality.
Acrossthe
Manpowerworld,
wearecommitted
toachievingthe
perfectbalance
betweenefficiency
andquality.
Wegrewthecombined
revenuesfromtheemerging
marketsby95percentin2006.
95
7
Shareholder’sLetter
2006