All about Multiples

September 30th, 2013

What every Staffing firm owner should know!

I sold my business for a Ten Multiple

Don’t you just love to hear this boast, as we have heard this bold statement at least a dozen times. Before we can draw any value conclusions we may want to ask a multiple of what or when this occurred?

The Metric depends on the type of Company

For publicly owned companies, the most noted multiple is that of after-tax net income and it often applied to projected income over the next twelve months. For early-stage companies, it could often be a multiple of revenues primarily for two reasons; they are often:

a) Not profitable at this stage but are expected to be in the future once their product or service is proven out or,

b) They are in high growth mode, and profit levels are depressed as a result of higher than long-term average spending on R & D and product/service marketing.

For established private companies, like most staffing firms, the most commonly used valuation metric is a multiple of trailingtwelve monthAdjusted EBITDA  for profitable firms.

EBITDA

Stands for earnings, before interest, taxes, depreciation and amortization, if any;andit therefore allows for a fair comparison between companies because it negates the following four effects on profitability:

1. The effect of having different asset bases by cancelling depreciation;

2. The effect due to different takeover histories by cancelling amortization often stemming from goodwill;

3. The effect due to different tax structures; and lastly

4. The effect of different capital structures by cancelling interest costs.

Adjustments are often thought of containing fluff used to boost profitability, so be sure you can verify and justify all items that you are proposing to add back.

 

The Time Frame Matters

The period the multiple applies to is also important. While Valuation is conceptually a forward-looking principle and publicly owned firms will often present their earnings on the next 12 months performance; for most privately owned companies the time frame is generally the Trailing Twelve Months (TTM) performance as a result of the difficulty in predicting what the next 12 months of earnings may be.

Other Considerations in determing Value

A. Did the buyer assume any of the seller’s debt?

B. Were their working capital adjustments made?

C. Over what time frame was the purchase price paid?

D. Sellers seeking 100% cash on closing will take deep discounts if they can even find a buyer.

E. Are payments set or contingent on performance?

F. Are there claw back features if the business becomes less profitable?

G. Are their enhanced payments for superior performance?

All of these questions will impact valuation and the amount the seller receives over time.

So, the next time someone tells you they sold for a ten multiple, focus more on the total value that was received, since we can’t spend a multiple, we can only spend the cash in our pockets. A multiple is just one-way to express value however as we can see from the questions above, what is counted in a multiple can vary a great deal due to the circumstances of both the buyer and seller.

When we actually probed one very proud seller about his ten multiple that he kept bragging about, we learned that his multiplier was all of $1,500 dollars of adjusted EBITDA, so his ten multiple was real; however it amounted to all of a $15,000 purchase price. So focus on the dollars you will end up with and try not to get hung up on the multiple, after all it is only a number without context unless you have a more complete picture of the transaction.

This posting contains substantial contributions from an article by Derek van der Plaat.

Do Buyers really know what Sellers want when being acquired?

March 4th, 2013

Reasons to Sell

There are many good reasons for selling a staffing firm. Some sellers are thinking about retirement or at least liquefying what is often their largest asset so they can take some chips off the table. Others may feel they have grown the business as much as they can on their own and to reach the next level for their business they will need a well-suited, deep-pocketed partner.

 Some owners as they age become more risk averse and are reluctant to continue to invest their retirement funds to grow their business. Additionally, there are some owners that would prefer to tap into an acquirers’ existing infrastructure and distribution network then try to create their own.

 Other drivers are the lack of available, reasonably priced growth capital, the lack of reasonably priced insurance protection, access to certain volume purchasers of staffing services through VMS or other purchasing methods that can dictate lower margins and less direct customer contact on a staffing supplier.

 These are the general reasons that motivate Sellers. What are the specific reasons that may encourage a Seller to choose your firm?

 Why sell to you?

Certainly a high purchase price, with 50%-70% cash on closing and a good upside potential for growth will be huge plus factors for a seller to consider. 

Sellers prefer notes for the balance especially if they are not active or not remaining with the business. Buyers generally prefer earn outs if the owners are staying on, to share the risk going forward. Since many current transactions contain earn outs, why would a buyer want to create an environment that impairs the seller’s ability to improve profits?

 A wise Seller will look most seriously at the Buyer who offers their business the best opportunity to continue to succeed as they have thus far.

It may be surprising that a wise Seller will often choose his acquirer by his/her determination of which acquirer will create the least amount of internal and external changes. Changes mean uncertainty and sometimes disruption that can add to the risk of success for both buyer and seller. Change also increases the need for communication so staff members can be sold on the benefits of the change.

In fact, an acquirer would do well to avoid any change that is not absolutely necessarily by law and slowly introduce other “branding” type changes on a scale that the acquired staff can handle without a loss of staff or business.

It is always interesting to see Buyers rave about the staff and culture of an acquisition target firm only to destroy its very value and essence within a short time period post acquisition by introducing unnecessary changes so the acquired firm will look like all the other branches in the acquirer’s system. This is often precisely the fear the acquired staff had about being acquired in the first place.

When acquired staff is unhappy they tend to polish up their resumes and dig out the card of their favorite industry recruiter and see what is available. Of course, the most talented are often the most mobile. Consequently, the acquirer may lose some key performers through their actions and then blame the process or the acquired, often anyone but themselves.

For a complimentary discussion on any M & A Topic, contact us.

Bob Cohen and Sam Sacco run R.A.Cohen Consulting, a trusted industry M&A advisory service.  The partners have advised on over 140 successful industry transactions. 

 They can be reached at (416) 229-6462, (910) 509-0691, respectively, or bob@racohenconsulting.com and sam@racohenconsulting.com.

 For more information: www.racohenconsulting.com

 

Do Buyers really know what Sellers want when being acquired?

March 3rd, 2013

Reasons to Sell

There are many good reasons for selling a staffing firm. Some sellers are thinking about retirement or at least liquefying what is often their largest asset so they can take some chips off the table. Others may feel they have grown the business as much as they can on their own and to reach the next level for their business they will need a well-suited, deep-pocketed partner.

 Some owners as they age become more risk averse and are reluctant to continue to invest their retirement funds to grow their business. Additionally, there are some owners that would prefer to tap into an acquirers’ existing infrastructure and distribution network then try to create their own.

 Other drivers are the lack of available, reasonably priced growth capital, the lack of reasonably priced insurance protection, access to certain volume purchasers of staffing services through VMS or other purchasing methods that can dictate lower margins and less direct customer contact on a staffing supplier.

 These are the general reasons that motivate Sellers. What are the specific reasons that may encourage a Seller to choose your firm?

 Why sell to you?

Certainly a high purchase price, with 50%-70% cash on closing and a good upside potential for growth will be huge plus factors for a seller to consider. 

Sellers prefer notes for the balance especially if they are not active or not remaining with the business. Buyers generally prefer earn outs if the owners are staying on, to share the risk going forward. Since many current transactions contain earn outs, why would a buyer want to create an environment that impairs the seller’s ability to improve profits?

 A wise Seller will look most seriously at the Buyer who offers their business the best opportunity to continue to succeed as they have thus far.

It may be surprising that a wise Seller will often choose his acquirer by his/her determination of which acquirer will create the least amount of internal and external changes. Changes mean uncertainty and sometimes disruption that can add to the risk of success for both buyer and seller. Change also increases the need for communication so staff members can be sold on the benefits of the change.

In fact, an acquirer would do well to avoid any change that is not absolutely necessarily by law and slowly introduce other “branding” type changes on a scale that the acquired staff can handle without a loss of staff or business.

It is always interesting to see Buyers rave about the staff and culture of an acquisition target firm only to destroy its very value and essence within a short time period post acquisition by introducing unnecessary changes so the acquired firm will look like all the other branches in the acquirer’s system. This is often precisely the fear the acquired staff had about being acquired in the first place.

When acquired staff is unhappy they tend to polish up their resumes and dig out the card of their favorite industry recruiter and see what is available. Of course, the most talented are often the most mobile. Consequently, the acquirer may lose some key performers through their actions and then blame the process or the acquired, often anyone but themselves.

For a complimentary discussion on any M & A Topic, contact us.

Bob Cohen and Sam Sacco run R.A.Cohen Consulting, a trusted industry M&A advisory service.  The partners have advised on over 140 successful industry transactions. 

 They can be reached at (416) 229-6462, (910) 509-0691, respectively, or bob@racohenconsulting.com and sam@racohenconsulting.com.

 For more information: www.racohenconsulting.com

 

4 New Rules for SEO Success in 2013

February 26th, 2013

Measuring SEO success by your ranking position for your favorite keywords means failing behind the curve.

With users’ behaviors and Google’s algorithms rapidly and constantly changing, measuring SEO success by your ranking position for your favorite keywords means falling behind the curve. Here are the most meaningful metrics for SEO for 2013.

1. Focus on Your Keyword Portfolio, Not Rankings

Search engine users are getting smarter and more specific. Today, over 70 percent of searches online contain three or more words in the search query. Furthermore, Google reported that over 20 percent of search queries are completely new queries that had never been searched before! The long tail is where the growth is happening, and your strategy needs to be built around this growth.

Focusing on “fat head” keywords is an unbalanced strategy with diminishing returns. Marketers need to focus on increasing the number of keywords sending search traffic rather than improving a specific keyword position. This is known as your keyword portfolio.

2. Create Problem-Solving Content

Creating great content isn’t rocket science. If you have trouble coming up with ideas, or you think your industry is too boring, focus instead on solving a customer’s problem. This can be done easily by utilizing your organization’s intellectual property to create how-to guides, white papers, or research studies. If you’re in business, then you’re solving problems! Combine people, processes, and software to scale content marketing.

3. Publish Content on Quality Sources

Last year’s Penguin update eliminated the value of content published on untrusted websites. This includes low-quality websites, content farms and many “free” PR websites. Showing up in Google search is a lot like getting a job–it’s your references that make the difference. Concentrate on earning references from high quality and trusted industry websites. Industry organizations and online communities are where you should be publishing content on a regular basis.

4. Distribute and Promote Content through Social Media

Social media is an extremely efficient channel for distributing and promoting your content. This includes content that you publish on your website, as well as content that you publish on highly trusted third-party websites. Social media channels enable you to reach millions instantly, as well as stay on the radar of search engine algorithms for topics related to your content. Google and Bing have both admitted to using social signals in their ranking algorithms, so social media engagement is a must-do for digital marketers.

Never before have SEO and inbound marketing had more potential for digital marketers. When executed effectively, these strategies will drive leads, attract customers, and grow your brand’s community.

Credit for this post belongs to Aaron Aders.

Aaron Aders is co-founder and chief strategy officer of Indianapolis-based Slingshot SEO, a national leader in online marketing, planning, and execution. Aders steers the strategic vision behind software and business processes. @SlingshotSEO

For more information on Staffing M & A or a quick and accurate complimentary Valuation of your business or a confidential discussion, contact:

Bob Cohen at 416-229-6462 or Sam Sacco at 910-509-0691. We can also be reached at bob@racohenconsulting.com or sam@racohenconsulting.com.

Sam and Bob have successfully completed over 140 staffing industry transactions. Visit our website for more articles and information at: www.racohenconsulting.com

We hope you found this post informative.

Prospecting for new Clients!

February 25th, 2013

As you know, in Staffing and other industries, prospecting must come to occupy a primary place on your sales reps’ to-do lists if they’re to be successful. Here are nine techniques to pass along that’ll bring in a steady stream of qualified prospects.

  1. Make a commitment to being prospect-driven. Chances are some of your salespeople only take prospecting seriously during periods when sales are down. It’s then soon forgotten once the orders begin coming in. The goal must be to focus on uncovering prospective customers year round.
  2. Focus on finding the right prospects. Prospects must come before prospecting. It’s easy for salespeople to spend a lot of time chasing would-be prospects who have no interest in what they’re selling. The key is spending time determining exactly who fits the profile of your best customers and building a prospect list around that profile.
  3. Cultivate continuously. A major mistake is making prospecting an event, rather than a process. Prospecting is not an impulsive quick fix. It involves more than making a call and, if there’s a negative response, crossing the name off the list. The purpose of continuous cultivation is to build a relationship with a prospect, something some salespeople find difficult when the initial contact is negative.
  4. Look at former customers. Many former customers may be ready to buy again or try a new product or service. Try to mix in former customers when you’re planning your prospecting calls. Former customers may also be an invaluable source of new leads.
  5. Recognize resistance to change. Prospects have a natural resistance to change. They follow the “if it ain’t broke, don’t fix it philosophy,” which makes it difficult to open new accounts. When prospects raise objections, listen carefully. Ask for clarification. By asking the prospect to go into more detail about the objection, you’ll be in a better position to overcome it.
  6. Give prospecting the same priority as meetings with important customers. Salespeople who don’t call on qualified prospects in their territories are leaving the door open for competitors to do so. Once competitors get an opening with prospects in your territory and start making inroads, they may start converting your long-term customers, too.
  7. Take a close look at the competition. Are your competitors failing in areas that may be your strengths? Have there been any changes in your competitors’ staff or product line that may give you an opportunity? Companies in transition provide a great opportunity for salespeople who act quickly and creatively.
  8. Resist hitting a comfort level. Some salespeople become content with their lifestyle. They hit their own glass ceiling, calling on favorite customers and looking for an acceptable amount of new business — but not too hard. The entrepreneurial salesperson is never satisfied, always thinking and trying to grow and improve business.
  9. Try to learn what the prospect does and his or her objectives. Who are the customers and competitors? Get information with web searches, annual reports, people who work at the prospect’s company and press releases.

Source: John R. Graham, President, Graham & Associates, Quincy, MA.

 For more information or a complimentary confidential discussion on any Staffing M & A subject, contact: Bob Cohen at 416-229-6462 or Sam Sacco at 910-509-0691.

 We can also be reached at bob@racohenconsulting.com or sam@racohenconsulting.com.

Sam and Bob have successfully completed over 135 staffing industry transactions. Visit our website for more articles and information at:    www.racohenconsulting.com

Do you want to buy a Business? Part 2

February 18th, 2013

Part 2- Buying Considerations Continued

In Part 1- we began the discussion on Buying Considerations by asking you to consider:

1. What are your goals in acquiring?

2. What are your acquisition criteria?

3. How will your acquisitions be funded?

Are you looking for top-shelf well run companies or distressed properties? What resources are you better equipped to offer, financial, operational or human? This may influence the type of business you can integrate most successfully.

4. In choosing an acquisition target buyers often look to create value for themselves by:

  • Lowering unit costs through economies of scale and better cost management

If you would like to read Part 1 in its entirety please go to www.racohenconsulting.com go to Resources you will see a hyperlink to our current post (Blog) and the bottom right of that page has all our previous Blog posts.

Continuing on with our questions to help you determine which opportunities will best fit your growth needs.

5.  What do you need to see in a target opportunity?

All of these factors listed below would be nice to have, but it’s important to prioritize as companies like people are rarely perfect:

  • Strategic fit
  • Compatible culture
  • Talented management
  • Sustainable growth
  • High Gross and Operating Margins
  • Operating focus, single or blended 

6.  How will you identify target firms to acquire?

  • Use industry directories to develop a target list
  • Call or write to this target contact list
  • Ask your Staff to identify their best independent local competitors
  • Contact respected industry M & A Advisors & Intermediaries
  • Engage an intermediary to bring you suitable targets

7.  What will you buy:  assets, stock, either? What are the income / capital gains tax issues for you as they relate to each of these acquisition structures?

8.  What deal structure best suits your needs?

  • % of cash on closing?
  • Will you use notes? What interest rate will you offer?
  • Earn outs? If so, for how long? How will you structure upsides and downsides?
  • Will you use Stock?

9. Who will be on your acquisition assessment team?

  • Internal staff members
  • Outside experts /advisors

 10.  Who will negotiate your transactions? Are you aware of?

  • Current deal pricing?
  • Various deal structures?
  • Tax consequences for buyer and seller?
  • How best to negotiate with a future employee of your firm?
  • How to work with the seller’s professional advisors? 

For smooth sailing during the transaction these are areas that should be thought through in advance. Many deals are lost due to inflexibility on one or both sides of a transaction. You rarely will get a seller to agree to everything you want (if they did, you’d be suspicious). So decide what you really need and pick your fights around vital issues with high value for you.

11. What will you require for Due Diligence?

You’re Financial/Legal and if you choose a Business advisor should be able to assist you in developing an appropriate list of items to examine and review. Some items would include:

  • A complete set of financial statements for the last 3 years
  • Tax returns covering the same period
  • Most recent month’s Balance Sheet
  • Property Leases
  • Equipment Leases
  • Staff personnel records-Organization chart
  • Description of all Employee Benefit plans
  • Detailed Accounts Receivables Listing-Bad Debt History
  • Schedules of furniture, office equipment, computer hardware/software, telephones
  • Budgets for current and future years
  • A variety of schedules detailing assignments/projects with clients
  • Reports from outside Accountants/Auditors

12. What is your timetable?

How will you integrate the acquired businesses?

  • Fully with your brand name
  • Partially as a (your brand) company, i.e. ABC a Mega firm Company
  • Autonomously as an entity appearing to be independent

Integration is usually the most critical area for a successful acquisition.  Blending cultures is often the key to a successful transition. It will be addressed in a future post.

For more information on Staffing M & A or a quick and accurate complimentary Valuation of your business or a confidential discussion, contact:

Bob Cohen at 416-229-6462 or Sam Sacco at 910-509-0691. We can also be reached at bob@racohenconsulting.com or sam@racohenconsulting.com.

Sam and Bob have successfully completed over 140 staffing industry transactions. Visit our website for more articles and information at:  www.racohenconsulting.com

 

Do you want to buy a Business? Part 1

February 11th, 2013

Buying Considerations

Companies acquire for a broad variety of reasons. Some acquire to:

  • Increase market share
  • Create economies of scale
  • Offer new services
  • Generate new sources of revenue and profits
  • Acquire management
  • Bring in fresh ideas
  • Enter new markets

When you look at building or buying, the fastest and often easiest path is by buying, provided you have access to capital at reasonable costs and the ability to effectively integrate the acquired business.

The challenge in making acquisitions work is managing each step of the process carefully. This often works best when clear-cut goals are thought out and presented to your current employees, many of whom will perceive these decisions as affecting their future opportunities. It is worth taking the time to get key employees to buy into the larger future you are creating. Clearly defined objectives can also serve as a guideline at several stages of the process.

There are a number of areas you need to review prior to seeking acquisition targets. The answers to the following questions can save your firm valuable time and resources. These core issues can serve as a template for your acquisition opportunities.

1. What are your goals in acquiring?

  • Expand in existing markets
  • Open new markets
  • Increase market share
  • Spread infrastructure costs
  • Reduce or eliminate competition in a particular market

2. What are your acquisition criteria?

  • What is the annual sales range of your targets?
  • What are the financial performance goals you seek (e.g. Gross Margin / EBIT / average bill rates / sales history growth rates, etc.)?
  • What geographical markets do you want?
  • What sector(s) of the industry are you looking for?

3. How will your acquisitions be funded?

  • Internally
  • Borrowed, if so, are funds approved and in place
  • Private Equity / Venture Capital

Are you looking for top-shelf well run companies or distressed properties? What resources are you better equipped to offer, financial, operational or human? This may influence the type of business you can integrate most successfully.

4. In choosing an acquisition target buyers often look to create value for themselves by:

  • Lowering unit costs through economies of scale and better cost management
  • Increasing market power by spreading its’ brand over a wider base
  • Entering new geographic or industry markets
  • Offering existing customers additional services
  • Creating synergies so 2+2 equals at least 5
  • Gaining new technology
  • Expanding their customer base
  • Acquiring management talent

In Part 2 we will explore additional Buying Considerations and take stock of what are answers to these questions have told us about ourselves and the best types of businesses for each of us to seek for acquisition.

For more information on Staffing M & A or a quick and accurate complimentary Valuation of your business or a confidential discussion, contact:

Bob Cohen at 416-229-6462 or Sam Sacco at 910-509-0691. We can also be reached at bob@racohenconsulting.com or sam@racohenconsulting.com.

Sam and Bob have successfully completed over 140 staffing industry transactions. Visit our website for more articles and information at: www.racohenconsulting.com

Older Workers still on the Job Working

February 4th, 2013

A new analysis of Census data reveals that the share of U.S. citizens 65 and older in the labor force has risen from 12.1% in 1990 to 16.1% in 2010. The percentage of 65-plus women workers rose more than 4 percentage points to 12.5%, compared with a 3.2 percentage point increase for men to 20.8%. “As with all age groups, the increase in labor force participation of women has been a driving factor for this overall trend,” says Braedyn Kromer, an analyst in the U.S. Census Bureau’s Labor Force Statistics Branch. More than 44% of workers 65 and older worked full time year-round. The growing presence of older Americans in the work force is likely to continue. The Census Bureau projects a 67% increase in the 65-and-older population between 2015 and 2040, when one in five Americans will be 65 or older.

Older Workers hurting Union Membership

The U.S. Bureau of Labor Statistics announced on Jan. 23 that the union membership rate in America continued its long collapse in 2012, falling to 11.3% of all workers, its lowest level since the 1930s. Thirty years ago, 20% of all workers were in unions. Things stand to get much worse for unions in the coming years, as union workers age. Today, almost a quarter of union members are older than 55, up from around 15% in 2002.

Middle-aged workers are turning into old workers as the baby boomers head towards the last decade or so of their careers. Also, the unions are failing to add younger members (or, alternatively, those young members are being laid off by local governments and factories). Unless unions somehow become adept at organizing workers in their 20s and 30s soon, they stand to lose another sixth of their membership to retirement in the next decade.

For more information or a complimentary confidential discussion on any Staffing M & A subject, contact: Bob Cohen at 416-229-6462 or Sam Sacco at 910-509-0691.

 We can also be reached at bob@racohenconsulting.com or sam@racohenconsulting.com.

Sam and Bob have successfully completed over 135 staffing industry transactions. Visit our website for more articles and information at:    www.racohenconsulting.com

Strong Growth Forecast for 2013

January 28th, 2013

Long-time Staffing Industry Observer and respected Commentator Jeffrey Silber of BMO Capital Markets – US Equity Research News tells us that his group is projecting a 6%-8% increase in temp usage for 2013 and 2014. While this is slower than the (9%) growth the industry experienced in 2012, it still represents solid growth.

The staffing market and economy both face uncertainty, whenever business people perceive uncertainty they tend to be reticent to make significant expense commitments (like hiring more direct staff, more contractors/temps will be used) until the dust clears and there is more clarity. The uncertainty is caused by several factors including the political/economic landscape in the US and Europe, the costs of the Patient Protection and Affordable Care Act; (PPACA) and the growth of real GDP and the general direction of the economy.

New Unemployment claims are down well below the cautionary 400,000 mark according to Staffing Industry Analysts (SIA) Reports. Employment in most States is growing and contractor/temp wages have softened a bit which is a two-edged sword; while, it is easier to find needed workers it is harder to maintain higher margins as the supply strengthens.

For more information on Staffing M & A or a quick and accurate complimentary Valuation of your business or a confidential discussion, contact:

Bob Cohen at 416-229-6462 or Sam Sacco at 910-509-0691. We can also be reached at bob@racohenconsulting.com or sam@racohenconsulting.com.

Sam and Bob have successfully completed over 140 staffing industry transactions. Visit our website for more articles and information at: www.racohenconsulting.com

Research on women in the workplace!

December 3rd, 2012

In Randstad’s latest Engagement Index study, women’s insights and perspectives on work and employee engagement were highlighted, as well as how women viewed the economy’s impact on their jobs.

As the workplace continues to evolve, more workers are not only taking on additional responsibilities, but many are learning skills outside of their traditional roles. Thus, it’s not surprising that a newly released study today by Randstad US shows that flexibility and adaptability are two top skills women need to succeed in the workplace.

Just over half of women surveyed, 51 percent, reported these skill-sets as one of the top two most important, followed by knowledge of technology (selected by 37 percent) and teamwork (selected by 35 percent), respectively.

  • While 57 percent of women said they expect to grow their careers with their current employers, 48 percent of women still plan to explore other options when the job market picks up
  • Forty-one percent of women noted they would give a lot of consideration to a job offer given to them by a different company or organization

“Women are taking on leadership roles and advancing to the top levels of organizations faster than ever before.  It is, therefore, critical that companies not lose sight of what it takes to successfully identify, retain and engage high potential women,” said Linda Galipeau, Randstad CEO of North America.

 “We believe it is crucial for more executives, both men and women, to actively serve as sponsors for the next generation of female leaders. Not only is it essential for women to have access and visibility to senior executives, but it’s equally important for organizations to have a clearly defined strategy for developing women for the top roles while ensuring they are willing and able to throw their hats in the ring when the time is right.”

Other notable findings:

  • Sixty percent of women indicated that having their efforts valued and recognized is one of the most important elements. Only 63 percent feel that their efforts are, in fact, recognized and valued.
  • Also ranking towards the top, 53 percent of women indicated that one of the key elements driving their commitment to their jobs is enjoying going to work each day.
  • How can employers better engage their employees? Promotions and bonuses for high-performing employees, according to 39 percent of women surveyed. However, only 24 percent of respondents stated their companies offered such perks.

Where does your employer stand on these issues? Are women at your firm encouraged, supported mentored and promoted?

All food for thought or grist for the mill.

Our goal is to help you become better informed; for more information on Staffing M & A or a complimentary confidential discussion, contact:

Bob Cohen at 416-229-6462 or Sam Sacco at 910-509-0691.

We can also be reached at bob@racohenconsulting.com or sam@racohenconsulting.com.