Proffice Annual Review 2011

Annual Review 2011
2
Annual Review 2011
Welcome to Proffice.
4 Statement by the CEO
Well on our way to attaining our vision of being
the most successful staffing company in the
Nordic region.
6 about proffice
Proffice is one of the largest specialist staffing companies in the Nordics, with more than
10,000 employees. Our passion and attention
help people and companies find ways forward.
26 our strategies
Proffice’s main strategy is product leadership
through specialisation. It makes us a more
attractive partner for people and companies.
It also increases profitability and makes us less
sensitive to economic fluctuations.
28 financial information
Proffice achieved a record-breaking
robust year.
18 Our offer
Maximise your opportunities and experiences.
More than 1,000
work hours to
charity
Proffice works with a number of NPOs by contributing what we are best at: expertise. This
enables us as a company, our employees,
and our partners to develop and grow.
Proffice has chosen three focus areas that are
key to our own operations: working life and
diversity, children and young people, and the
environment. We work with various organisa­
tions, such as Transfer, Plan Sverige, and
Räddningsmissionen. In 2011, we provided
more than 1,000 work hours to our partners.
Proffice Responsibility:
More than just
monetary benefit.
Proffice – now with
environmental
certification
Our environmental management system applies to all
office staff in the Proffice Group. This means that Proffice
has policies, objectives, procedures, and templates to
systematically rationalise and improve the efficiency of
the company’s environmental work.
All support and management functions at Proffice AB
and operations at Proffice Sverige AB and Proffice Norge AS
in Oslo now hold ISO 14001 certification.
Annual Review 2011
3
Name: Charlotta Nordström
Job: Web editor of Proffice’s
websites.
How I have fun at work: “Colours,
design, layout and the internet
are some of my major interests.
Every day I have opportunities to
improve in these areas alongside
my inspirational colleagues; there’s
never a dull moment at work.”
Name: Sohaila El Ghouch
Job: Sales manager, Proffice
Partner Solutions.
How I have fun at work: “By
having an open atmosphere and
transparent, flexible leadership
in a diverse group. No day should
go by without laughter at work –
if it does, there’s a problem.”
4
Annual Review 2011
Statement by the CEO: Well
on our way to attaining our
vision of being the most
successful staffing company
in the Nordic region.
Annual Review 2011
5
focusing on exper›› By
tise, we can create a
more flexible and more
secure labour market.
”I am convinced that,
rather than managers,
the employees who work
closest to customers
know best; they’re the
ones tasked with developing the company,” says
Lars Kry, who took the
initiative for ProLab in
2009, which is now under
way for a second time.”
Proffice achieved a record-breaking robust year and is
well on its way to realising its vision: to be the most successful staffing company in the Nordic region. We successfully teamed good profitability with strong growth.
Through our increasingly specialised offer, we won the
confidence of our customers and gained market share in
a highly competitive market.
Despite far-reaching changes and major investments in
our structural capital, we returned the best profit in Proffice’s history. Our Swedish operation accounted for the
largest growth in the Group, profitability rose in Norway
and Finland, and losses fell in Denmark.
Our exciting journey continues and Proffice has high
ambitions for the future. At Proffice we are passionate
about creating opportunities for people and companies
to improve. A dynamic and sustainable labour market is a
prerequisite for the development of companies, individuals, and the whole of society. The labour market faces
major challenges with a high level of youth unemployment and ever growing exclusion, but also professions
with staff shortages in some industries. Proffice will play
an increasingly large part here in the future. By focusing
on expertise, we can create a more flexible and more
secure labour market.
Energy and positive changes filled 2011 to meet a
growing need for our offers. As we look at the year as
a whole, I would like to highlight a number of success
factors:
1
A highly efficient basic platform
We have created a basic platform with joint functions, processes, and systems that allows high scala­bility that benefits everyone: our employees, candidates,
and customers. The foremost example is the implementation of a new business system that started in the
autumn.
2
Successful specialisation strategy
We continued to build our successful specialisation
strategy, with new attractive offers in areas such as IT,
aviation and mining. We also acquired Komet, a company
that is well established in student staffing and the SMBsegment in the Swedish market.
3
A modern and clear brand strategy
We have a new brand and communication strategy
that forms the basis of our Group values and a new visual
identity that showcases us more clearly in communication with all our target groups.
4
New values-based organisation
We have a new Nordic values-based organisation,
with independent and business-driven Business Units,
in which energy is given free rein and decision-making
routes have been shortened. This creates growth, takes
our specialisation strategy onwards, and makes us a more
attractive employer.
5
ProLab 2011/2012
We are running our ProLab nursery for the second
time to promote entrepreneurial corporate culture and
thereby create opportunities for companies and individuals to grow.
In preparation for 2012, the Proffice Group stands well
equipped for any market swings. Growth in the global
economy is more subdued, and we face a tougher
economic climate in the Nordics as well. But we also
know that in an uncertain market, customers’ companies
require more flexibility and more of the right skills, and in
these respects Proffice is a key player for further growth.
A client-driven organisation, solid balance sheet,
effective platforms, and a strong corporate culture will
ensure the best possible conditions to continue increasing profitability and growth. And, as ever, people are
what make the difference! People are our sole resource,
and thanks to all our fantastic employees at Proffice, we
can provide someone in the Nordics with a new job every
four minutes.
I am very proud to lead a company that creates oppor­
tunities for individuals and companies to develop and
grow and I look forward to an exciting and successful 2012.
Lars Kry
President and CEO
6
Annual Review 2011
Proffice in brief:
Proffice is one of the
largest specialist staffing
companies in the Nordics,
with more than 10,000
employees. Our passion
and attention help
people and companies
find ways forward.
Annual Review 2011
7
www.proffice.com
We develop
companies
We boost
people ­
We create possibilities for development
Every four minutes someone gains
a new job through Proffice.
by offering the right
skills in selected
specialist areas. We improve our customers’
competitive strength
and enhance their ability to tackle challenges.
in the Nordics by offering thousands of
job opportunities each
year. We help people
grow in their career, try
out new sectors, and
improve their skills.
by offering products
and services in:
The Proffice Group has 6,600 customers.
* Staffing
* Recruitment
* Outplacement
94 per cent of Proffice’s operations
consist of hiring out of personnel.
4 per cent of operations comprise
recruitment.
2 per cent of operations are made up
of outplacement.
17 specialised Business Units.
100
We have over 100
locations in Sweden,
Norway, Finland,
and Denmark.
Name: Anders Nilsson
Job: Proffice Life Science
consultant and research
engineer.
How I have fun at work:
“Through challenges;
when you can learn something new – that makes it
exciting.”
Our vision:
Proffice aims to be
the most successful
staffing company in
the Nordic region.
Our business
concept
We offer people and companies
potential to develop by being a
passionate, attentive, and solutionoriented staffing company.
Annual Review 2011
To attain our market objective of growing by five percentage points
faster than the market with improved profitability, we must continue
to always want to be best, want to ensure we have the most
satisfied customers, and attract the best employees.
Objectives
Sub-objectives
Follow-up
Market
objectives
We will grow faster than the staffing market in the
prioritised segments in which we are represented,
and through a balanced combination of organic
growth and acquisitions.
* Revenue growth
Customer
objectives
Customers will perceive us as the best staffing
company in the market within the segments in
which we have chosen to participate.
* Customer satisfaction
Employee
objectives
We will attract the best employees in the staffing
sector, who will constantly improve through interesting assignments for attractive customers, and through
clear, values-based leadership.
* Satisfied Management index
Financial
objectives
We will, over time, ensure financial stability that
allows for self-financed expansion and makes us
an attractive investment for our shareholders.
* Profitability
* Equity structure and liquidity
* Dividend
9
10
Annual Review 2011
Positioning and values:
We maximise
opportunities.
Positioning
Values
In a competitive market such as ours, positioning is
incredibly important. Successful positioning explains
the difference between us and our competitors. Not just
why it is a good idea to use a staffing company, but why
it’s good to use Proffice instead of our competitors. This
small difference may be crucial to whether we achieve
our objectives. The key to our inner journey and external
success is in our promise that we enable people and
companies to develop.
The picture is of a human Proffice, which primarily
focuses on skills and ability, where there are opportunities for both employees and clients to grow. There is an
old perception that staffing companies extinguish fires
– that we are good at rushing to the rescue when com­
panies need short-term reinforcement or to take care
of tasks that can be outsourced. Times have changed.
Proffice has such expertise that it can actually enrich,
develop and lift our customers’ companies and
employees in the long term. Quite simply, we maximise
opportunities.
A compass. A guide. Help out there in the real world.
That’s how you can describe Proffice’s new values that
are to imbue everything from business deals at top level
to consultants’ day-to-day work on site with customers.
Everything in our business is fast-paced and we have
to make decisions rapidly. Detailed job descriptions
are a thing of the past. Today, it is more about finding a
joint approach that helps us to be successful. Our values
serve as a compass in situations where we previously had
detailed instructions. They are watchwords for improvement.
Commitment involves having a strong drive, being
passionate about something, wanting to try something
new. We show commitment by being attentive and
listening to customers’ and candidates’ expressed and
unexpressed needs. When we know what their needs
are, we can solve their problems. The key is to listen
and understand how best we can help the customer
or candidate – how we can contribute our expertise.
Proffice’s employees already work in this way, but putting
it in writing is a way of becoming that little bit better.
Annual Review 2011
Solution-oriented
means that:
*We are innovative and independent.
*We take responsibility.
*We help and support one another.
*We care more about results than titles and status.
Passionate
means that:
*We are extremely committed to everything we do.
*We never give up.
*Everyone sells, and we sell from the heart.
*It’s not what we say but what we do that counts.
*We have fun at work.
Attentive
means that:
*We are curious.
*We have a finger on the pulse
and make decisions based on
facts.
*We create business through
relationships.
*We work to constantly improve.
11
12
Annual Review 2011
Keep Improving: A history
of ongoing development.*
1960
Proffice originated in
Snabbstenografen, which
was founded in 1960
when Berit Flodin started
a company in Stockholm
providing secretarial
services and staffing. Over
time, the hiring operations
also encompassed other
professional groups such
as switchboard operators
and accounting assistants. Proffice gradually
expanded geographically,
opening offices in Malmo
in 1976, Uppsala in 1986,
and Gothenburg in 1987.
Operations expanded
subsequently through
the acquisition of Språksekreteraren, Ordbehandlarna, TelefonistExtra,
TerminalExtra, and Skriv­
byråcentralen. In 1987, all
companies were grouped
under the name of Proffice.
Christer Hägglund bought
Proffice in 1989. Today he
is one of the largest owners. The business has
grown continually ever
since. In 1997 Proffice
grew through measures
such as acquisition of
Personellassistanse (a Norwegian staffing company
now called Proffice AS)
and establishment of
Proffice Care.
Operations were launched
in Denmark in 1998. In
1999 Proffice acquired
Office Team (a Finnish
company now called
Proffice Finland), which
marked the start of our
operations in Finland.
Proffice has been listed
on the OMX Nordic
Exchange in Stockholm
since 1999.
Proffice Internetrekrytering was launched in 2000,
and we were among the
first in the industry to use
the internet in recruitment. Proffice acquired
Antenn Consulting, an
outplacement company,
in the same year. Dfind
was founded in 2005 for
recruitment and hiring
out of IT consultants.
Work@arn (now Proffice
* A complete account of milestones from milestones Proffice´s history can be found in Proffice’s Corporate Governance Reports, available at www.proffice.com.
In 2005 Proffice
acquired Work@arn
(now called Proffice
Aviation).
“Ordbehandlarna”
(literally, word processors) were not
just machines, but is
also the name of one
of the companies
that became Proffice
in 1987.
Industrial & Logistics
in Sweden grew by
60 per cent in 2011,
which can be compared to the 32 per
cent market growth
of the industry.
Annual Review 2011
13
2011
Aviation) was acquired in
the same year, enabling
Proffice to strengthen its
offers in staffing to the
aviation industry. Proffice Mediakompetens
has offered resources in
media and communication since 2005. The first
PAMA, Proffice ArbetsMarknadsAnalys (labour
market analysis), was in
2006. The phase-out of
Proffice Outsourcing also
took place that year and
was one of the first steps
towards Proffice’s greater
specialisation.
In 2007 Proffice Life
Science was launched as
a specialist company with
400 employees. Proffice
also acquired Medifact, a
medical staffing company
in Norway, during that
year. In Finland the HSG
company, which was acquired earlier, was merged
with Proffice Finland.
In 2010 Proffice
strengthened the Finance
business area by founding a specialist finance
company.
This company was
added to the Dfind family
in 2011 along with Dfind IT
and Dfind Redpatch, a new
software development
company. Proffice’s offer
was reinforced through
the acquisition of Komet,
a Swedish student staffing
company.
In the same year, Proffice implemented a new
organisation, new values,
a new brand strategy, a
new visual identity, and
a focus on social media.
Our motto became Keep
Improving, which con-
stantly inspires us to want
to improve. Today we
occupy a strong position
in the Nordic market, but
we don’t want to put our
feet up. Instead, we want
to keep pushing the envelope in large and small
matters to attain our vision
of being the most successful staffing company in the
Nordic region.
Student staffing
company Komet
joined the Proffice
family in 2011.
Proffice Care was
launched in 1997.
In 2007 Proffice
acquired Medifact, a medical
staffing company
in Norway.
Proffice’s own paper
publication about the
labour market moved
online in 2011.
dagensmojligheter.se
dagensmuligheter.no
14
Annual Review 2011
Throughout the Nordics:
Increased specialisation
and new customers
produced
strong profit.
• Proffice
• Dfind
• Antenn
• Komet
Annual Review 2011
The operation in Sweden enjoyed its best
year ever. Norway signed new agreements
and sees a favourable outlook. The Danish
recruitment business received a boost, and
in Finland we are adopting a new approach
for greater profitability.
SWEDEN
GROWING
STRONGLY
NEW AGREEMENTS GIVE
NORWAY A LIFT
Growth has been seen in Sweden recently and the positive trend continued in 2011. Industrial & Logistics is an
area that is flourishing rapidly throughout the country.
Västerås, Gothenburg, and Skövde excel in particular.
The expanded collaboration with ICA, presented in
August 2011, is structurally important. Proffice is taking
over all responsibility for ICA’s transhipment centres in
Stockholm, Uppsala, and Västerås.
We also continued to develop our specialisation strategy in several areas, including Aviation and Mining.
When we create cost-efficient solutions to make our
customers successful, we can grow with our customers.
A new management has been in place in Norway since
the start of Q2 2011, with a strong focus on sales and
earnings. The organisation is now structured in the same
way as in Sweden and the rest of the Group, which means
a greater degree of specialisation and better conditions
for the exchange of experiences between countries.
Several major agreements were also signed during the
year. Førsvarets logistikkorganisasjon, which is part of the
Norwegian Armed Forces, signed a framework agreement with Proffice for short-term staffing in administration, construction, warehousing/logistics, and IT services.
The framework agreement also includes some more
long-term staffing solutions.
We are also very proud of our deal with the brewery
Macks ølbryggeri in Tromsö, which gives us an exclusive
turnkey contract.
EFFICIENCY IN
DENMARK
TURNAROUND
FOR FINLAND
In 2011 in Denmark we continued to improve cost
efficiency while also concentrating on new sales.
Hiring out of personnel grew, for example through a
call centre operation for Transcom and administrative
services for Carlsberg.
These measures, along with new employments and
several new recruitment assignments – such as for
Vattenfall – have laid the foundation for higher profita­
bility. Results are expected to be seen at the end of the
next financial year.
Proffice Finland was reorganised, broadened its offer,
and obtained support from the Nordic sales organisation
in 2011. This proved beneficial: Finland was formerly in
the red but now broke even.
Previously, Proffice Finland mainly offered generalists. The company had simpler staffing assignments and
recruitment with lower return. Its offer was fragmented.
The year’s reorganisation, with a focus on individual
industries and increasingly specialist skills in the product
portfolio – both in staffing and recruitment – resulted in
record-breaking figures.
Proffice gained a few new major customers during the
year, such as forest industry company Metso and security
company Pinkerton, and many small and medium-sized
companies.
15
16
Annual Review 2011
Market: Proffice
strengthens its role in
the Nordic labour market.
Governing trends
*Globalisation
and international
competition.
Increased
migra*
tion of workforces
between countries
Shorter
production
*
cycles.
*Technological
developments
increasing
demands on skills
*Large wave of
retirements.
Declining
influx
*
of young people.
*Increasing
competition
for talent.
Our customers constantly gain new needs, the economy
changes, and workplaces transform – generating new
areas for the staffing sector. This requires agility and the
right skills in the right place. We strengthen our customers’ competitiveness while offering broad experience
with good development potential for our employees.
The staffing sector is growing, and in the future the
labour market will be faster, smarter, and better – for all
parties.
The sector continues to grow
Globally, the sector employs some 9 million people full
time, with sales for over 200 billion euros. The Swedish
staffing sector comprises more than 450 companies with
sales of about SEK 20 billion. The penetration index is
just over one per cent* in Sweden, which is under the
European average.
A solid balance sheet and strong corporate culture
ensure the best possible conditions to continue increasing
growth. With its balanced offers in staffing, recruitment,
and outplacement, Proffice stands firm in the face of economic fluctuations.
Specialists in a generic market
The staffing sector is characterised by tough competition
and low entry barriers. The Nordic market is dominated
by three major players: Proffice, Manpower, and Adecco.
Today, Proffice is a Nordic staffing specialist with in-depth
knowledge of the special conditions in the Nordic market.
Unique position
Proffice has evolved from being generalists to becoming
specialists.
We occupy a unique position and our image as a
product leader within the staffing industry also boosts
our position in relation to expertise and strategic
collaborations.
Proffice has also reduced its dependence on prevailing economic conditions by offering services with a high
degree of specialist expertise and by increasing its focus
on economically stable areas.
6,600 customers
Proffice has active relationships with about 6,600 customers in the Nordics. Our customers are found in both the
private and public sectors. We work constantly to step up
the dialogue with our customers even further.
Tough competition in the sector is driving down prices.
Proffice’s strategy of going from generalist to specialist provides increased customer benefits and raises the
value of the service with the customer, which increases
price levels and thereby also earnings.
* According to www.bemanningsforetagen.se, Anställda och Penetrations­grad (employees and penetration index).
Market share in Sweden, the ten largest players
Manpower
Proffice
Adecco
Uniflex
Academic Work
Poolia
Lernia
StudentConsulting
Randstad
Logent
2010
25.00 %
17.33 %
12.71 %
6.85 %
6.10 %
5.73 %
5.20 %
2.77 %
1.76 %
1.76 %
Manpower
Proffice
Adecco
Uniflex
Lernia
Academic Work
Poolia
StudentConsulting
Logent
Randstad
2011
23.80 %
17.40 %
12.30 %
7.54 %
6.64 %
6.54 %
4.45 %
2.65 %
2.35 %
1.83 %
Source: Swedish Staffing Agencies
Market share in Norway,
the ten largest players
Adecco Norge
Manpower
Proffice AS
Jobzone
ISS Personalhuset AS
Xtra Personell
Kelly Services Norge AS
Top Temp AS
Helsenor AS
Rett bemanning
2010
28 %
24 %
7%
6%
5%
4%
4%
2%
1%
1%
Source: The Norwegian National Federation
of Service Industries. Data on market share for
Norway in 2011 had not yet been made available when this publication went to print.
Årsöversikt 2011
Name: Josephine Jurell
Job: Customer service consultant,
Proffice Norway
How I have fun at work: “By being
open and happy and establishing a
good rapport with my colleagues.”
Om Proffice
Vårt erbjudande
Finansiell info
17
Our offer:
Maximise your opportunities and experiences.
First
job
Ready for your first job? We
offer you the opportunity to
choose an interesting job in
an area that interests you.
Relocate
within the
Nordics
Do you want or need to move?
Proffice is active throughout
the Nordics. We help you find
the perfect job, in Helsinki or
Helsingborg.
Coaching
We offer tested, effective
outplacement programs. Our
job coaches help you take the
next step.
Extra
work
Work alongside your studies. Make money while you
gain experience and build
your CV.
Back to work
after parental
leave
Proffice can help you get
started again after parental
leave, full-time or part-time.
CV service
Is your CV not turning heads?
Our experienced recruiters
will help you improve the
presentation of your skills and
merits.
Job rotation
Further your development
and improve your skills by
switching industries, workplaces, and tasks.
Specialist
Have you become an expert
in your field? Our specialist
companies operate in many
interesting sectors and offer
you opportunities to continue
to develop.
Career
advisors
Time to take the next step,
but don’t know how or what
you want? Welcome to Proffice. We can help with new
ideas and inspiration.
Next career
move
For those who have worked
for a while but want to take
the next step. We will help you
find your next challenge.
Executive
Proffice offers Executive solutions for those looking for a
new management position, or
those who want to work with
a variety of assignments for a
limited time.
Internal
entrepreneurship
Are you eager to develop
a business idea? We offer
unique opportunities for
internal enterpreneurship
through ProLab.
Move into a
new industry
Have you found the right
position but want to try a
new industry? We help you
find new perspective in an
industry that suits you.
Senior
consultant
Shouldn’t you stop working
soon? If you have gotten that
question, you are the right
person for us. We are looking
for people who love their
work and want to continue –
even after the age of 60.
Subcontractor
If you run your own
company you can work for
Proffice’s customers on
site, without needing to
spend time on selling your
services or time-consuming
administration linked to
your assignment. You can
focus on what you do best.
Annual Review 2011
HIRING OUT OF PERSONNEL
We give our customers the right
expertise and create effective solutions
that increase mobility.
SKILLS development
RECRUITMENT
outplacement
Finding talented employees is difficult,
especially when times improve.
Proffice helps you find your next star.
Proffice offers support and strategy
for individuals and companies
in change.
19
Annual Review 2011
Staffing: The market has
shown dramatic growth in
recent years.
*Hiring out of
personnel accounts
for 94 per cent
of Proffice’s
operations.
We
* are specialists
in hiring out
personnel.
We
* know the
Nordic labour
market.
Hiring out of personnel is the largest part of Proffice’s business. In 2011, we provided more than
23,000 consultants for hiring out of personnel
throughout the Nordic region. We help customers using our strong products and specialities. The
demand for partnering and managed services is on
the rise.
The market for hiring out of personnel has grown
dramatically in recent years and the future outlook
remains positive. Adapting to a global economy
with rapid changes and tough competition presents new challenges for the business community.
By hiring employees, companies can adapt their
operation when demand rises or falls. Companies
become more efficient, more viable, and better
equipped to defend their market shares.
Changed commercial model creates
added value for DHL
When the collaboration between Proffice
and DHL Supply Chain in Sweden was initiated, it consisted of traditional staffing,
i.e. the customer paid for the number of
hours worked by the consultants. When
a new agreement was signed, a new
performance-based commercial model
was drawn up, in which the remuneration
reflects achieved productivity and quality.
94 %
21
22
Annual Review 2011
Name: Lars Tornberg
Job: Dfind IT consultant, works as
a systems manager in the telecom
industry.
How I have fun at work: “By having
tasks that require creative solutions
and by surrounding myself with inspiring and down-to-earth people.”
The battle for top talent is hardening. Mass retirement and an increased demand for stimulating
jobs are making it more difficult to find the right
employee. Proffice offers five basic products:
Manager, Specialist, Executive, Volume, and
Express. We can also assist in parts of the recruitment process, such as CV Selection, Second
Opinion, and Search.
Our recruitment consultants are highly proficient specialists who have worked in the areas
for which they recruit staff. Our job is to establish
lasting relationships between companies and individuals with mutual exchanges between them.
4%
*Recruitment
accounts for
4 per cent of
Proffice’s
operations.
Seeking specialists
for Skanska
Proffice and Komet, its new acquisition, have
long provided staffing services for Skanska
Sverige AB. We have now been entrusted to
expand our offer to include search and headhunting services in the entire Nordic region.
As one of Skanska’s selected suppliers, Proffice helps Skanska find all kinds of resources,
ranging from IT specialists to accountants
and construction project managers.
Recruitment: Customers’
requests propel development of new products.
Annual Review 2011
23
Outplacement: Antenn
­creates solutions optimal for
companies and individuals.
*Outplacement
accounts for 2 per
cent of Proffice’s
operations.
• In Sweden, we conducted more than
5,200 programmes
in 2011.
• Two in three
obtained a solution
within six months.
Many people need energy, tools, and guidance
to help them develop their careers. We can offer support and coaching based on many years
of experience and expertise. Proffice holds a
leading position in transition services, offering
outplacement and career development through
our subsidiary Antenn.
Many people work at the wrong place or in the
wrong profession. Outplacement of employees
requires solutions that optimally address the
needs of individuals and companies. There must
be someone who understands the individual’s
needs and can match them to a suitable job.
Measures must also be taken that cater for the
company’s need to take effective action.
2%
Job seeking
and individual
programmes are
key to success
When Jarl Timber in Broakulla needed to
reorganise its business, a project team from
Antenn worked actively on job seeking and
individual programmes. Eight out of ten
people on the labour market obtained an
employment solution – a very positive result.
Outplacement is one of Proffice’s three
business areas and accounts for some two
per cent of the company’s total sales. Solutions were found for two in three of the more
than 5,200 people within six months.
Name: Sofia Wahlgren
Job: Student, former receptionist and administration and office
consultant, Proffice
How I have fun at work: “It’s all
about attitude and your choice
of viewpoint. Commitment,
doing things from the heart,
makes everything more fun.”
24
Annual Review 2011
CEO
Lars Kry
Business Units
Group Functions
Proffice DK
Proffice FI
Proffice NO
Proffice SE
Business
Development
Communications
Proffice
Administration
& Office SE
Proffice
Administration
& Office NO
Proffice Aviation
Proffice Care
SE/NO/DK
Commercial
Director
Finance
Proffice Customer
Service SE
Proffice Industrial
& Logistics SE
Proffice Industrial
& Logistics NO
Proffice Life Science
Human Resources
IT
Proffice
Mediakompetens
Dfind Finance
& Executive SE/NO
Dfind IT SE/NO
Komet
Nordic Sales
PMO
Antenn
Unique organisation
releases energy.
Group management is a thing of the past. And there’s
no more talk of subsidiaries and business areas. Instead,
Proffice is now organised in 17 Business Units led by
Business Unit managers. This is accompanied by a new
working method designed to lift the Group.
When Proffice started drafting a new organisational
model, there were several requests on the agenda.
Firstly, a new organisation should result in better service
to customers. Customers’ needs have always been the
determining factor.
Secondly, the new organisation means that decisions
are made further down the line in the organisation. More
decisions are now made directly in each Business Unit.
Employees thus gain better use for their skills and many
decisions are made by those who are closest to the issues
concerned – those working with them directly every day.
CEO Lars Kry previously constituted a bottleneck in
decision-making. The new organisation and creation of a
new function, Commercial Director, minimises the bottlenecks associated with making decisions.
The objective of the new organisation is to make
improvements that allow the Group to evolve, secure new
business deals, grow, and earn money, while the CEO
gains more time and energy for strategic matters and
future-related issues.
4
improvements
*Greater clarity and
better service for
customers.
Faster
and better
*
decisions further
down the line in
the organisation.
Release
the
*
employees’ energy
to obtain an even
stronger offer for
customers and
candidates.
*Free up time and
energy for strategic
matters and futurerelated issues.
Annual Review 2011
25
Our specialists:
17 new Business Units.
Proffice Danmark
Recruitment and staffing in
several industries in Denmark
www.proffice.dk
[email protected]
+45 70 10 91 00
Proffice Finland
Recruitment and staffing in
several industries in Finland
www.profficefinland.fi
[email protected]
+358 207 440 800
Proffice Norge
Recruitment and staffing in
several industries in Norway
www.proffice.no
[email protected]
+47 400 21 400
Proffice Sverige
Recruitment and staffing in
several industries in Sweden
www.proffice.se
[email protected]
+46 8 787 17 00
Proffice Administration
& Office Sverige
Recruitment and staffing
in offices in Sweden
www.proffice.se
[email protected]
+46 8 787 17 00
Proffice Administration
& Office Norge
Recruitment and staffing
in offices in Norway
www.proffice.no
[email protected]
+47 400 21 400
Proffice Aviation
Recruitment and staffing
in aviation, travel, and tourism
www.profficeaviation.se
[email protected]
+46 8 597 855 00
Proffice Care
Recruitment and staffing
in healthcare in Sweden
and Norway
www.proffice.se/care
www.proffice.no/care
[email protected]
[email protected]
+46 8 787 17 00
+ 47 22 50 01 00
Proffice Customer
Service Sverige
Recruitment and staffing
in customer services and
sales in Sweden
www.proffice.se
[email protected]
+46 8 787 17 00
Proffice Industrial
& Logistics Sverige
Recruitment and staffing
in logistics, industry, and
technology in Sweden
www.proffice.se
[email protected]
+46 8 787 17 00
Proffice Industrial
& Logistics Norge
Recruitment and staffing
in logistics, industry, and
technology in Norway
www.proffice.no
[email protected]
+47 400 21 400
Proffice Life Science
Recruitment and staffing in
biotechnology and chemical
technology in the Nordics
www.proffice.se/lifescience
[email protected]
+46 8 787 17 00
Proffice Mediakompetens
Recruitment and staffing in
media, communication, and
information in Sweden
www.mediakompetens.se
[email protected]
+46 8 553 417 80
Dfind Finance & Executive
Recruitment and staffing
in business administration,
finance, payroll, and management in Sweden and Norway
www.dfindfinance.se
www.dfindfinance.no
[email protected]
[email protected]
+46 775 70 09 00
+47 22 83 83 83
Antenn Consulting
Transition services, career
development, and job
coaching in Sweden
www.antenn.se
[email protected]
+46 8 545 167 60
Dfind IT
Recruitment and staffing
in IT in Sweden and Norway
www.dfind.se/it
www.dfind.no
[email protected]
[email protected]
+46 8 410 290 20
+47 400 21 400
Komet
Recruitment and staffing,
especially for students,
in Sweden
www.komet.se
[email protected]
020-25 26 00
Product leadership:
Five strategies for
profitability, growth,
and scalability.
Proffice’s main strategy is product leadership through specialisation. It makes us a more
attractive partner for people and companies. It also increases profitability and makes us
less sensitive to economic fluctuations.
Annual Review 2011
27
Strong sales culture
Balanced products
Proffice has built a strong sales
culture that combines common
joint methods with extensive individual freedom. We can never
afford to relax. We become a
long-term business partner for
our customers by staying pro­
active and focused on solutions.
We make more than 80,000 sales
visits throughout the Nordics
each year. All are closely
followed up.
Proffice’s offering helps people and
­companies to develop and grow – through
financial ups and downs. With its offers in
staffing, recruitment, and outplacement,
Proffice stands firm in the face of economic
fluctuations. We can ­expand our business
deals with customers and become an even
more essential partner.
One Proffice
A common platform for business
administration and accounting,
IT, communication, and HR aims
to enable Proffice to grow while
also improving its profitability.
It allows our operations to grow
faster than our costs. In 2011 we
started rolling out FastTrack,
our new business system. It is an
efficient platform enabling high
scalability, which is beneficial to
everyone: employees, candidates, and our customers.
PROFITABILITY
& GROWTH
SCAL
ABILITY
Specialisation & innovation
Proffice specialises in several sectors and skill areas.
As a result, customers and candidates meet Proffice
specialists who have an understanding of their particular
challenges, and we make special efforts to encourage
entrepreneurship within our company. We also initiated
ProLab, the Proffice Opportunity Lab, our nursery for
internal entrepreneurs, for the second time at the end of
2011. Here, interesting projects receive an opportunity
to mature in a programme of nearly a year that includes
support from in-house and external experts. Proffice
also becomes a more attractive employer that attracts
exceptional talents.
Selective acquisitions
Proffice will mainly grow
organically. We also make selective acquisitions to enhance
our speciality focus. Thanks
to a strong balance sheet
and liquidity, we have good
potential to take advantage
of interesting opportunities
in the market. In July 2011 we
acquired Komet Holding AB,
which is successful in the SMB
segment and student staffing;
a strong complement to our
organisation.
28
Annual Review 2011
Financial information:
Proffice achieved a recordbreaking robust year.
Income statement
MSEK
2011
2010
2009
2008
Revenue
4,770
4,095
3,908
4,266
3,791
-4,526
-3,930
-3,728
-4,110
-3,656
244
165
180
156
135
-17
-25
-20
-11
-8
-9
–
–
-30
–
218
140
160
115
127
Operating costs
Operating profit before depreciation
and write-down
Depreciation of non-current assets (excl. goodwill)
Amortization and write down of goodwill
Operating profit
Financial items
2007
5
-1
–
15
10
223
139
160
130
137
Tax
-69
-42
-49
-59
-39
Profit for the year for remaining units
154
97
111
71
98
–
–
–
0
0
154
97
111
71
98
2011
2010
2009
2008
2007
16.0
4.8
-8.4
12.5
33.0
Operating margin, %
4.6
3.4
4.1
2.7
3.4
Profit margin, %
4.7
3.4
4.1
3.0
3.6
Profit after financial items
Profit after tax for discontinued units
Profit for the year
Key ratios
Growth, % (change in net sales)
Net debt/equity ratio
Avarage number of employees
-0.2
-0.3
-0.4
-0.2
-0.1
8,607
6,627
5,773
7,776
8,113
1.25
Earnings per share, SEK
2.02
1.19
1.45
0.86
Dividend per share, SEK
1.131)
0.75
0.50
0
0
700
615
620
519
457
Equity, SEK million
1)
Proposed dividend
Ownership structure as per 31 December 2011
A shares
B shares
Share of
capital, %
Share of voting
rights, %*
Capman Public Market Investment
2,000,000
3,727,324
8.34
22.76
Christer Hägglund thr. hold. comp.
1,000,000
6,260,150
10.57
15.60
Lars Murman
1,000,000
0
1.46
9.59
0
9,383,288
13.66
9.00
Swedbank Robur fonder
Handelsbanken fonder
0
4,386,601
6.39
4.21
Nordea Investment Funds
0
3,786,510
5.51
3.63
Fjärde AP-fonden
0
3,118,575
4.54
2.99
Folksam
0
2,724,522
3.97
2.61
Unionen
0
2,557,100
3.72
2.45
Carlson fonder AB
Total 10 largest owners
* Votes are adjusted for company shares.
0
1,902,910
2.77
1.83
4,000,000
37,846,980
60.93
74.68
Annual Review 2011
Sweden, 77 %
Finland, 2 %
Markets
Sweden, 77 %
Finland, 2 %
Norway, 21 %
Denmark, 0 %
Events during the year
Norway, 21 %
Denmark, 0 %
Sweden, 77 %
Norway, 21 %
Sweden, 77 %
Norway, 21 %
29
Finland, 2 %
Denmark, 0 %
Finland, 2 %
Denmark, 0 %
January–March
Proffice appointed Magnus Uvhagen as interim CFO.
*
April–June
Proffice launched its new organisation, new Group
values, and a joint, revitalised brand platform as
of 1 April 2011.
Proffice held Capital Markets Day on 4 April 2011.
Proffice Finance AB was renamed Dfind Finance
& Executive AB.
Dfind AB started the system development consultancy
Dfind Redpatch AB.
Proffice designated by ICA Sverige as a main supplier
of outplacement services.
Proffice Partner Solutions AB entered a new agreement with the Swedish National Agency for Education.
*
*
*
*
*
*
Sweden, 77 %
Finland, 2 %
Norway, 21 %
Denmark,Hiring
0 %out personel, 94 %
Recruitment, 4 %
Outplacement, 2 %
Sweden, 77 %
Norway, 21 %
July–September
Proffice acquired student staffing company Komet.
Proffice and ICA Sverige signed an agreement for
logistics deals.
Proffice won a tender for the Swedish Transport
Administration.
*
*
*
October–December
Proffice expanded its collaboration with Sandvik.
Proffice and ICA signed an agreement for contracting
solutions.
Proffice launched its mining industry operation and
opened an office in Pajala.
Proffice Aviation became a separate specialist area.
*
*
Finland, 2 %
Denmark, 0 % *
*
Financial calender
3 May 2012
Annual general meeting of shareholders
Interim report January–March 2012
Hiring out personel, 94 %
Recruitment, 4 %
Outplacement, 2 %
23 August 2012
Interim report January–June 2012
21 November 2012
Interim report, January–September 2012
19 February 2013
Full year report, January–December 2012
PROFFICE AB (PUBL) Mäster Samuelsgatan 60, Box 70368, SE-107 24 Stockholm, Sweden, Tel: +46 8 787 17 00, Fax +46 8 553 419 15
www.proffice.com | [email protected]
Narva / Translation: Fluid Translation
Edition: 1
Administration and Office // Construction // Management Recruitment and
Interim Management // Finance // Electricity, Telecom, and Technical Service
Engineering // Aviation, Travel, and Tourism // Industry, Warehousing and
Logistics // IT // Customer Service // Life Science // Media, Information and
Communication // Mining // Healthcare // Student Staffing