ManpowerGroup combined its RPO, TAPFIN managed service provider and Right Management unit into a new brand, Talent Solutions, which will provide customers with end-to-end workforce services.
The company said Talent Solutions will provide global services ranging from talent marketing and acquisition to upskilling, development and retention, along with technology and workforce insights.
Stefano Scabbio, ManpowerGroup’s regional president for southern Europe, will be Talent Solutions’ brand leader.ManpowerGroup combined 3 brands into Talent Solutions. Goal is to provide global end-to-end talent services, tech and insights. @MPG_TSolutions @ManpowerGroup #HR #HRTech Click To Tweet
ManpowerGroup made the announcement on the same day it released its fourth quarter and 2019 financial results. The company said net earnings for the year ended Dec., 31, 2019, came in at $465.7 million, down from $556.7 million in 2018. Revenues for the year were $20.9 billion, down 5 percent.
For 2019’s fourth quarter, the company saw net earnings of $138.8 million, down from $158.3 million during the previous year’s period. Revenues were $5.2 billion, representing a 4 percent drop.
“We executed well in a slow growth global economy,” said Chairman and CEO Jonas Prising. “Our fourth quarter performance reflects a challenging revenue environment in Europe, partially offset by growth in the Americas, Right Management and most markets within APME.”
While Prising sees a number of trade-related and political risks looming over the world’s economy, he said, “there are growth opportunities in this environment for our market-leading services and workforce solutions offerings.”
Prising called the launch of Talent Solutions example of “how we will continue to deliver new solutions and create added value that addresses our clients’ complex global workforce needs.” In a separate statement, he said he expects the new unit will help ManpowerGroup deliver new solutions and create added value for its clients.
The fourth-quarter report was more upbeat than anticipated. According to Zacks Equity Research, ManpowerGroup’s results have outperformed the expectations of analysts in several areas over recent quarters.
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