Empresaria is a global specialist staffing group operating from 19 countries across 6 diversified sectors.
Our purpose is to positively impact the lives of people, while delivering exceptional talent and solutions to our clients globally.
Empresaria is a global specialist staffing group operating from 19 countries across 6 diversified sectors.
Our purpose is to positively impact the lives of people, while delivering exceptional talent and solutions to our clients globally.
countries that we operate in
diversified sectors we serve
employees at 31 December 2020
Results for the six months ended 30 June 2021
Empresaria Group plc (AIM: EMR), the global specialist staffing group, announces its unaudited interim results for the six months ended 30 June 2021.Click here to download the full Interim Statement 2021. For further information contact:Empresaria Group plcRhona Driggs, Chief Executive OfficerTim Anderson, Chief Financial Officervia Alma PRSinger Capital Markets (Nominated Adviser and Broker)Shaun Dobson/James Moat020 7496 3000Alma PR (Financial PR)Sam ModlinDavid IsonHilary Buchanan020 3405 email@example.com
Garrick Cooper joins the Empresaria Leadership Team as President, North America
Garrick Cooper joins the group as President, North America further strengthening our leadership team. Garrick brings with him over 23 years of experience in the staffing solutions industry across a range of areas with a focus on providing exceptional contract and professional search solutions for clients in a variety of industries.Prior to joining Empresaria, Garrick was Vice President, Technical at Volt Workforce Solutions where he was responsible for the direction of sales and delivery teams spanning North America. Garrick has extensive experience in recruiting, sales, operations and program management and in delivering effective and innovative recruiting solutions to clients.Garrick will be responsible for the development of the Group’s operations and delivery of our strategy in North America.Rhona Driggs, CEO of Empresaria, commented:"I am delighted to welcome Garrick to Empresaria and I am excited about the expertise and experience he brings to the Group in a market where we see great opportunity to grow."
IMS Group awarded “Dream Companies To Work For”
We are delighted to announce that Empresaria’s Offshore Services Provider, IMS Group, have been awarded the prestigious ‘Dream Companies To Work For’ award at the Asian Leadership Awards.The Asian Leadership Awards (ALA) recognises remarkable business leaders and organisations in Asia for their continuing commitment to excellence, developing best practices and innovative strategies.This award is a testament to their leadership and strength as an organisation that provides a workplace where employees can thrive. Since the beginning, IMS Group has been committed to making their workplace more robust, creative, innovative, productive, and fulfilling.“Ever since IMS was founded, we have always worked towards making it an organisation that is recognised and trusted globally,” said CEO Amit Somaiya. “Today IMS Group has added yet another feather to its hat. It brings me immense pride and joy to receive the ‘Dream Companies To Work For’ award and being recognised as one of the leading companies in Asia.”“This is a well deserved acknowledgement of IMS Group’s achievements in creating a workplace where employees are encouraged to innovate, create and achieve their potential,” commented Rhona Driggs, CEO Empresaria. “I am extremely proud of this team and extend my congratulations to them on receiving this recognition.”About IMS GroupIMS Group provide dedicated, adaptable and progressive workforce solutions around the globe to transform every business they work with. From recruitment, to accounting and property preservation, IMS provide outstanding outsourced services to many leading companies in a variety of industries.Find out more, or contact IMS Group, here.
New additions to Senior Leadership Team with Regional CEO appointments
We are pleased to announce that Empresaria has made two senior appointments as part of its plans to strengthen and broaden its leadership team. Julie Smith has joined the Group as Regional CEO, UK & Europe. Julie brings over 20 years' experience in the recruitment industry and is a highly regarded industry expert across Recruitment Process Outsourcing and Managed Service Programs. Prior to joining Empresaria, she was Vice President of Operations at Volt Consulting Group where she expanded the business across 26 European countries. Julie has a track record of building strong teams, delivering results through developing strategic client relationships and driving service excellence and innovation. Rafael Moyano has joined the Group as Regional CEO, APAC. Rafael is a commercially astute and people-oriented leader with more than 25 years' experience working across three continents and has led a diverse workforce of 60,000 contractors and employees across the Talent Management, Recruitment, Technology, IT & Engineering industries. Rafael joins Empresaria from The Adecco Group where he spent 12 years and was most recently the CEO of Australia. Prior to this, he held the position of CFO for the Asia Pacific region, adding considerable value to both strategic direction and financial planning in 11 countries. Rafael has successfully driven and implemented large organisational and business transformations and led M&A activity to deliver sustained shareholder value.Julie and Rafael will be responsible for the execution of the Group's strategy as well as the development and growth of operations in their regions.Rhona Driggs, CEO of Empresaria, commented:"I am delighted to welcome Julie and Rafael to Empresaria and I am excited about the expertise and experience they bring to the Group. The appointment of individuals of this calibre illustrates Empresaria's potential and ambition to drive significant future growth. The additions of Julie and Rafael will be key as we continue our focus on exiting the pandemic stronger than we went in and deliver on our longer-term growth strategies."
Results for the year ended 31 December 2020
Empresaria Group plc (“Empresaria” or the “Group”)Results for the year ended 31 December 2020Profitability, operational resilience and financial strengthEmpresaria, the global specialist staffing group, reports its unaudited preliminary results for the year ended 31 December 2020. Highlights20202019% change% change (constant currency)(2)Revenue£256.5m£358.0m-28%-27%Net fee income£54.0m£74.5m-28%-27%Operating (loss)/profit£(1.0)m£4.0m-125%Adjusted operating profit (1)£6.2m£10.4m-40%-39%Loss/(profit) before tax£(2.0)m£2.9m-169%Adjusted profit before tax (1)£5.2m£9.3m-44%Diluted loss per share(6.2)p(1.6)p-288%Adjusted diluted earnings per share (1)4.1p8.5p-52%Strong start to 2020 with year-on-year operating profit growth in every month of the first quarterBenefits of diversification by sector and geography demonstrated throughout the yearResilience of the Group’s balance sheet proven – adjusted net debt reduced to £13.6m (2019: £19.1m)Net fee income down 28% to £54.0m as a result of the impact of COVID-19Adjusted operating profit down 40% to £6.2m – profitable in every quarter of 2020Strategic and operational investments protected2021 guidance reinstatedResumption of dividend with a final dividend of 1.0p per share proposed (2019: nil)Adjusted to exclude amortisation of intangible assets identified in business combinations, impairment of goodwill and other intangible assets, exceptional items, fair value charges on acquisition of non-controlling shares and, in the case of earnings, any related tax.The constant currency movement is calculated by translating the 2019 results at the 2020 exchange rates.An interview with management covering the Group’s performance is available here.Chief Executive Officer, Rhona Driggs, commented:“Our results for 2020 demonstrated the resilience of our operating model and the benefits of our diversification by sector and geography. The swift actions we took early in the pandemic helped to protect our profitability. While cost was a key consideration, our focus on the Group’s operations did not waiver as we protected, and in several cases accelerated, our key operational initiatives and investments. Early indications of trading in 2021 are positive and although, due to our strong start to last year, adjusted profits for the first half of 2021 are likely to be behind the first half of 2020 we expect for the full year to deliver adjusted profits in line with or better than 2020. We enter 2021 well positioned to exit the pandemic stronger than we entered it and to take advantage of recovery in our markets.”Investor PresentationIn line with Empresaria’s commitment to ensuring appropriate communication structures are in place for all sections of its shareholder base, management will deliver an online results presentation open to all existing and potential investors via the Investor Meet Company platform on Thursday 18 March 2021 at 4:15pm UK time.Questions can be submitted pre-event through the platform or at any time during the live presentation. Management may not be in a position to answer every question it receives but will address those it can while remaining within the confines of information already disclosed to the market.Q&A responses will be published at the earliest opportunity on the Investor Meet Company platform. Investors can sign up for free here. Those who have already registered and requested to meet the Company will be automatically invited.Enquiries:Empresaria Group plcRhona Driggs, Chief Executive Officer Tim Anderson, Chief Financial Officervia Alma PRN+1 Singer (Nominated Adviser and Broker)Shaun Dobson/James Moat020 7614 3000Alma PR (Financial PR)Sam Modlin David Ison020 3405 firstname.lastname@example.orgNotes for editors:Empresaria Group plc is a global specialist staffing group offering temporary and contract recruitment, permanent recruitment and offshore recruitment services across 6 sectors: Professional; IT; Healthcare; Property, Construction and Engineering; Commercial and Offshore Recruitment Services.Empresaria operates in 20 countries across the world including the 4 largest staffing markets of the US, Japan, UK and Germany along with a strong presence elsewhere in Asia Pacific and Latin America.Empresaria is listed on AIM under ticker EMR.For the full announcement click here.
How recruitment companies can help navigate clients through IR35
With the extension of IR35 legislation to the private sector coming into effect from 6 April 2021, we can help you deal with these additional responsibilities including assistance in making status determinations and dealing with the determinations made. Two of the areas where recruitment companies can help businesses are: 1. Assistance in making IR35 status assessments One of the key factors in determining IR35 status is the degree of control held by the client over how, what, where and when a contractor’s services are performed. Roles based on clearly defined projects with end project deliverables are more likely to fall outside of IR35. If the majority of answers to the below questions are ‘yes’, then it’s likely the role will fall outside of IR35:Is the contractor working on a particular project? Is the project specified in the contract along with a set of deliverables defined in a contract schedule?Can the contractor decide how to do the work required themselves, rather than you instructing them how to complete the work?During the course of the engagement can you move the contractor to another area of work outside the scope of the work originally agreed?Will the contractor be required to be present at your site within specific hours?Does the contractor have the discretion to carry out the work away from your site (home office or other)? A challenge for hirers is the extent to which you are able or willing to let contractors take more control and be only concerned with the end project deliverable.Assessing IR35 status can be a complex area and can require specialist expertise. Hirers will need to prepare for the considerable time and resources required to assess each contractor assignment correctly. Under the legislation, hirers need to be able to demonstrate that they have taken “reasonable care” in making the assessments. Hirers must also introduce a process to make sure they consider the contractor’s views if the contractor disagrees with the decision.There are tools available to assist in making IR35 determinations, the first being HMRC’s online Check Employment Status for Tax (CEST) tool. Whilst HMRC have promised to stand by the results if the correct information has been entered, CEST has been widely criticised for giving incorrect assessments and ignoring some case law decisions. HMRC have committed to updating CEST but no timing has been given for this. We are developing in-house expertise to assist our clients in making and adequately documenting IR35 status decisions. We also have specialist partners who are able to provide bespoke assessments. We can help you identify which of these may be most appropriate for your business. 2. Dealing with “inside-IR35” decisionsWhere contractors are assessed as “outside IR35”, nothing has to change. However, we need to ensure a Status Determination Statement (“SDS” in the legislation) is kept on record for each assignment so that it can be provided to HMRC if requested at a future date. Inside IR35 decisions will be a different matter, as PAYE tax and NICs will need to be deducted before we pay the contractor. It also means that employer’s NICs will be due on all payments made. If you engage contractors directly (not via an agency) you will also need to assess their IR35 status. Should you assess their status to be ‘inside IR35’, you will be required to make PAYE deductions from 6 April 2021. There is a direct risk to you that affected contractors could look to bring employment related claims against you. The risk of potential employment claims arising could be reduced by re-engaging these contractors through us as your agency and we would then transition them to become agency PAYE workers before 6 April 2021.We will work with you to help assess the potential impact of the new rules on you and your contractors and to help you identify how best to respond to these.We will work with you to ensure your contractor requirements can continue to be fulfilled in the most efficient manner.Should you assess that your contractor roles are “inside IR35” our internal payroll teams can ensure all payroll requirements are met and payroll taxes accounted for and paid over to HMRC. Should you decide that you require more permanent employees then our permanent placement teams can help you in finding the right people for your business. We can help you to review what options are best for your business in the new world of IR35 in the private sector.
Spotlight: Offshore Recruitment Services
Back in March of 2020, as a result of the Covid-19 pandemic, businesses around the world were asked to transform their workforces by asking employees to work from home. India included, Empresaria’s outsourced services brand, IMS Group, proved to be both agile and exceptional in their transformation. IMS has a workforce of nearly 1,000 employees, so the transition to working from home was never going to easy, but with the commitment of employees and the talent of managers, IMS were able to make a great success of the unprecedented circumstances. While many companies have struggled to maintain efficiency and effectiveness in their workforce while working remotely, IMS believe that they have become more productive. Throughout the transition, they broke through barriers to reach new heights, and credit their successes to the following best practices:1. Trust and TransparencyIMS trusted their team members to fulfill their responsibilities while working flexible hours from home. This not only allowed staff to work around other commitments, such as childcare, but also resulted in many employees voluntarily extending their hours to complete work in a faster time frame than before. IMS Group also promoted top performers to active leaders, trusting them to assist in breaking down teams into smaller, more easily manageable units. Transparency built normalcy at IMS Group. Each week, teams held performance reviews on each individual and team project. Team members had visibility to all call stats and production numbers across the team. Additionally, every Friday there were team huddles using video conferencing updating the group on achievements they reached throughout the week. Building transparency while working from home contributed to the increase in productivity and allowed employees to celebrate their successes. 2. Communication and Support Since the switch to working from home, IMS leaders encouraged more collaboration between team members. Each team at IMS would have three daily calls; in the morning, afternoon and at the end of the day. With the communication being less e-mail oriented and more video conference oriented, there was less room for miscommunication, which could harm productivity. In addition to daily team meetings, each team member and manager would have a one-on-one catch-up video call, ensuring that managers were timely involved to give guidance and problems could be solved swiftly.The leaders that managed the transition and adjustment to working from home showed incredible compassion and patience. Leaders monitored daily activities to track progress and to reach out to members that seemed like they needed assistance. Managers supported employees within and outside of work-related discussions and inspired teams with a vision to improve their productivity. 3. Culture and ControlThe core focus at IMS shifted from the amount of time spent working, to the outcome and quality of work. Immediately after shifting concentration, the IMS teams saw a huge increase in productivity. Staff were encouraged to focus on what they could control, rather than aspects out of their control, through collaborative discussions. With the new culture set to working from home and with flexible hours, connectivity with candidates also improved greatly as recruiters were now able to schedule calls outside of normal working hours. 4. Engagement and WellbeingIMS Group expanded its employee engagement and wellbeing activities to keep the staff healthy, engaged and self-motivated. Each month IMS released a calendar filled with activities. Over the course of the lockdown, they hosted more than 40 activities and are still continuing to do so. The programs that IMS Group created fell under three categories of employee engagement, talent development and employee assistance. Employee engagement events provided employees with fun activities to participate in during lockdown, talent development activities focused on upskilling employees while working from home, and the employee assistance programs assisted in resolving personal problems that may be adversely affecting the employee’s performance. Overall, the engagement, development and assistance programs focused on staff wellbeing and on establishing a healthy work-life balance. The managers at IMS Group have displayed exemplary leadership skills during and after the transition to working from home. Finding the new path to productivity took compassion and hard work. All of the employees at IMS Group joined together to better each other and the entire group. About IMS Group IMS Group, a Global Workforce Solutions company, specializes in a range of flexible and comprehensive Workforce Solutions, including Property Preservation, Finance & Accounting and Recruitment Solutions. IMS Group is nationally and globally recognized by various organizations, institutions and analysts. The newest addition to IMS Group is IMS Oneworld. IMS Oneworld, is focused on delivering Direct Sourcing and RPO solutions to enterprise clients as well as MSP/VMS providers that begin with the establishment of a Branded Talent Community solution. With a mission to build high-performing teams that deliver with velocity, IMS Oneworld is committed to transforming the talent value chain and helping clients realize =the full value of their workforce solutions. IMS Group is listed as a ‘Dream Company to Work for’ and have received the prestigious IAOP Global Outsourcing 100 for three years running. Find out more, or contact IMS Group, here.
The clock is ticking again! Off-payroll working rules from 6 April 2021 - extension of IR35 to the private sector.
The legislation is in place and there does not look to be a U-turn coming, so from 6 April 2021 IR35, or now the so-called “off-payroll working rules”, will be extended to the private sector. Large and medium companies who hire contractors (either directly or via agencies) will be responsible for assessing the IR35 employment status of each of these contractors for each assignment undertaken. This IR35 assessment will determine whether the contractor needs to be paid via PAYE (“inside IR35” - effectively as an employee for tax purposes) or can be paid gross if the contractor operates via a personal service company (“outside IR35”). This gives businesses a few months to prepare for what can be a complex task, with serious consequences for businesses if you get it wrong. The legislation includes tax debt transfer rules so whilst the responsibility for making the PAYE income tax and NICs deductions and paying employer’s NICs is on the company paying the limited company contractor, the debt transfer rules do give HMRC the ability to transfer the liability for any unpaid taxes in the supply chain to end-user clients. Deborah McWilliams, Empresaria Group Tax Manager, stated “we are urging all our UK Empresaria brand clients to review the potential impact of these changes now and establish a timeline to implement any changes required. Additionally, the new rules will catch contractor placements made now which will run past 6 April 2021.”Suggested actions:Action 1Action 2Action 3Action 4Review contractor workforce and future contractor requirements, review how you work with contractors/ freelancers, consider indicative IR35 assessments for common contractor assignments.Discuss with your trusted agencies what changes may need to be made to current and future contractor roles and/or contractor engagement and pay arrangements. Implement any changes required to your engagement arrangements and contractor roles. Ideally this would be based on a tailored approach for each contractor role.With your chosen solutions in place, you should be protected against the upcoming legislation. Set up processes to monitor ongoing compliance. We can help you to deal with these additional responsibilities including identifying and implementing the best solutions to help protect you from potential tax and employment liabilities.Businesses need to ensure that they take the necessary precautions throughout their decisions process. Whenever necessary, contractors must notify their customers about the legislation.It is vital to understand your new responsibilities created by the legislation. These liabilities are crucial in ensuring that your company is legally operating under all legislation.At Empresaria, we service 6 sectors across 20 countries. Our global spanning brands can help you deal with these responsibilities. Whether you are a client needing guidance, searching for the most efficient solution for implementation or helping to protect your company, the Empresaria brands can help.
Rhona Driggs recognised in Staffing Industry Analyst’s Global Power 150 Women in Staffing for the 5th consecutive year
Rhona Driggs, Chief Executive Officer of Empresaria Group plc, has been recognised in the Staffing Industry Analysts Global Power 150 Women in Staffing, for the fifth consecutive year.Rhona’s inclusion in the Global Power 150 Women in Staffing for the fifth year running is an incredible achievement. Her stature within the industry emulates Empresaria’s values and vision of being a leader within the global staffing market. Rhona this year was also included in the SIA’s Staffing 100 Europe.Rhona joined Empresaria in late 2018 and has driven change to create a more unified group, leveraging our wider capabilities and thereby enabling a focus on strategic solutions within the staffing industry. This includes the recent launch of IMS Oneworld in the US, a direct sourcing and talent community management solution for enterprises.The Global Power 150 Women in Staffing are virtually honoured this year. The list recognises female leaders and influencers around the globe within the recruitment industry who have driven the industry forward through the current crisis.“These are women from various backgrounds who are making a difference,” wrote Subadhra Sriram, editor and publisher, media products, at SIA. “As we grapple with a pandemic that has disproportionately impacted women and minorities, women in our industry are working to stop the dramatic backslide on workplace equality Covid-19 has wrought,” Sriram wrote. “Our honorees are building new companies, products, divisions and creating a future of work where women and men can thrive.”See Rhona’s Profile – 2020 Global Power 150 Women in Staffing.About Staffing Industry Analysts (SIA)Founded in 1989, SIA is the global advisor on staffing and workforce solutions. Our proprietary research covers all categories of employed and non-employed work including temporary staffing, independent contracting and other types of contingent labour. SIA's independent and objective analysis provides insights into the services and suppliers operating in the workforce solutions ecosystem including staffing firms, managed service providers, recruitment process outsourcers, payrolling/compliance firms and talent acquisition technology specialists such as vendor management systems, online staffing platforms, crowdsourcing and online work services. We also provide training and accreditation with our unique Certified Contingent Workforce Professional (CCWP) program.