Corporate Resource is a diversified
technology, staffing, recruiting and consulting services firm offering cloud-based
enterprise applications and hosting services to a wide variety of clients and
industries. The company has defined an aggressive mission to become the
industry leader in all facets of staffing services, and thus far has
demonstrated a strong trajectory to achieve this goal.
Approximately 2.6 million people each day are
employed by staffing companies, which over the past eight years have created 1
million new jobs, according to the American Staffing Association. So what does
it take to stand out as an industry leader in a market this size?
The company’s plan to excel in its field
starts with providing clients with vital human capital resources to drive
profitability and customer satisfaction. Corporate Resource recruiters utilize
the latest recruiting tools to provide clients with the right person for the
job, also advantageous to the customers, which are placed into positions that
best fit their skillset and expertise.
Having a strong management team at the wheel
is invaluable to this first step. Corporate Resources is headed by chief
executive officer and Chairman John P. Messina, who has more than 15 years of
experience in the human capital services industry. Messina joined the company’s
board of directors in April 2007, and climbed the ranks to achieve his current
post in October 2012. He has been a successful entrepreneur as founder of
several small businesses, and has previous experience in various executive
positions in the transportation and construction industries.
Messina is joined by Chief Operating Officer
Mark Levine, who has 21 years of experience in various managerial and
executive-level positions; Chief Financial Officer Michael J. Golde, who
contributes more than 20 years of experience in the human capital services,
technology and professional services industries; and Frank Vaccaro, who has
held many high-level management positions with Melville Corporation,
Berkshire-Hathaway, J Baker and various staffing corporations.
An extensive market presence also comes into
play as the company seeks the industry’s top rank. Corporate Resource currently
operates 231 staffing and on-site facilities in 42 states and the District of
Columbia. Spanning professional and administrative careers to general and
industrial careers, Corporate Resources matches companies with employees on
temporary, temp-to-perm or permanent placements.
In a recent public announcement, Corporate
Resources said it is also seeing increased demand for its staffing services in
the financial sector stemming from companies’ need for additional manpower
without completely outsourcing their audit and risk management functions.
“Banks and financial services institutions
have been hit with a ‘perfect storm’ in terms of compliance and risk management
…,” Messina stated in the news release. “The Patriot Act continues to place
necessary pressure on compliance with the Bank Secrecy Act. At the same time,
all companies that currently use GAAP to report financial results are preparing
for a transition to the IFRS. These trends, joined with unprecedented threats
to IT security and customer data, are generating tremendous demand for
consultants with the experience and knowledge needed to mitigate risk and
ensure compliance.”
As a solution, Corporate Resources provides
banks and financial services companies with on-demand, qualified personnel to
help them achieve a more flexible and cost-effective staffing model.
Another characteristic of an industry leader
is, of course, money. Corporate Resources in an approximate four-year period
completed eight major acquisitions of regional staffing agencies, which it
melded under one brand and increased revenue $23.9 million in the first quarter
of 2014.
First-quarter revenue increased 12.5% to
$218.4 million compared to the first quarter of 2013, driven by growth from
acquisitions as well as 7.9% organic growth.
An impressive client base also fares well for
the company’s mission. Corporate Resources has established client partnerships
with some of the biggest names such as Goldman Sachs and Morgan Stanley;
retailers like Macy’s and Barney’s New York; FedEx; Memorial Sloan Kettering
Hospital; Del Monte and Coca Cola; MTV, Disney and the New York Times; Siemens;
and many more.
In the past three years, growth of temporary
staffing employment has outpaced the U.S. economy at 8.4% and 2.3%,
respectively, according to Business Services from BMO Capital Markets. An IBIS
World report forecasts the staffing industry to grow at an average annual rate
of 2.7% from 2012 to 2017.
Armed with an aggressive and proven
acquisition strategy, proprietary PEO software for business and human resource
management, and a strong management team, Corporate Resources appears
well-equipped to tackle this growing industry head-on and emerge and industry
victor.
For more information visit www.crsco.com
About MissionIR
MissionIR is committed to connecting the investment community with companies that have great potential and a strong dedication to building shareholder value. We know our reputation is based on the integrity of our clients and go to great lengths to ensure the companies represented adhere to sound business practices.
Sign up for “The Mission Report” at www.MissionIR.com
Please see disclaimer on the MissionIR website http://www.missionir.com/disclaimer.html
