Retek Engages TMP Worldwide For All Talent Acquisition; TMP to Provide Global Outsourcing for All of Retek's Recruitment Needs
NEW YORK--(BUSINESS WIRE)--July 29, 2002--TMP Worldwide Inc. (NASDAQ: TMPW), the world's leading supplier of human capital solutions, including the pre-eminent Internet career portal Monster(R), and Retek Inc. (NASDAQ:RETK), a leading provider of software solutions and services to the retail industry, today announced that the two companies have entered into an agreement wherein Retek will outsource its talent acquisition and recruitment services to TMP on a global basis.
Under the terms of the three-year agreement, which is potentially worth several million dollars per year, TMP will manage Retek's sourcing and screening of candidates in North America, Europe and Asia Pacific. Additionally, Monster Office HQ, a centralized resource that incorporates web-based tools and services that streamline the hiring process, will provide the front-end interface for job posting and applicant tracking. TMP will build dedicated talent service teams to support Retek's recruitment needs worldwide, and will also manage the company's career web site, applicant tracking and online recruitment activities. Retek anticipates more than 20% hiring growth in the next 12 months to meet its business plans.
"We are delighted to be able to provide a multi-level recruitment outsourcing solution to Retek," said John Mclaughlin, Group President, Americas for TMP Worldwide. "We will help them meet their staffing needs better, quicker and more cost effectively, as well as greatly enhance other important human capital initiatives such as employer branding and diversity hiring to support the company's reputation as a leading software supplier and employer-of-choice."
"We recognized the importance of applying best practices to talent acquisition," said Dick Lueck, Retek's Vice President of Human Resources. "We needed to team with a firm that has the capability, resources and reach to meet our needs, and that firm was TMP Worldwide. Not only will we be able to attract the talent we need more quickly and effectively, the TMP solution will be cost effective and scaleable."
About TMP Worldwide
Founded in 1967, TMP Worldwide Inc., with more than 10,000 employees in 33 countries, is the online recruitment leader, the world's largest Recruitment Advertising agency network, and one of the world's largest Executive Search & Executive Selection agencies. TMP Worldwide, headquartered in New York, is also the world's largest Yellow Pages advertising agency and a provider of direct marketing services. The Company's clients include more than 90 of the Fortune 100 and more than 490 of the Fortune 500 companies. In June 2001, TMP Worldwide was added to the S&P 500 Index. More information about TMP Worldwide is available at www.tmp.com.
Monster, headquartered in Maynard, Mass., is the leading global careers website, recording over 41.1 million unique visits during the month of June 2002 according to independent research conducted by I/PRO. Monster connects the most progressive companies with the most qualified career-minded individuals, offering innovative technology and superior services that give them more control over the recruiting process. The Monster global network consists of local content and language sites in the United States, United Kingdom, Australia, Canada, the Netherlands, Belgium, New Zealand, Singapore, Hong Kong, France, Germany, Ireland, Spain, Luxembourg, India, Italy, Sweden, Norway, Denmark, Switzerland, Finland and Scotland. Monster is the official online career management services sponsor of the 2002 Olympic Winter Games and 2002 and 2004 U.S. Olympic Teams. More information about Monster is available at www.monster.com or by calling 1-800-MONSTER.
Retek Inc. is a leading provider of software solutions and services to the retail industry. Retek's collaborative solutions help the retail industry create, manage and fulfill consumer demand. The RIS News Leader board 2001 ranked Retek the #1 software vendor for retail. Retek's offering, Retek 10, encompasses Retek's proven strategies, sophisticated software applications, patented predictive technology, unparalleled services, and the best practices of its customers and partners. Retek 10 provides retailers with the fastest path to sustainable business value. Many of the world's leading retailers use Retek solutions, including A&P, Tesco, Best Buy, Family Dollar Stores, Gap, Sainsbury's, Eckerd Corp. and Kohl's Department Stores. For more information, visit http://www.retek.com, or call 1-888-61-RETEK. Retek can be contacted in Europe at +44 20 7563 4646.
Special Note: Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995: Except for historical information contained herein, the statements made in this release constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements involve certain risks and uncertainties, including statements regarding the company's strategic direction, prospects and future results. Certain factors, including factors outside of our control, may cause actual results to differ materially from those contained in the forward- looking statements, including economic and other conditions in the markets in which we operate, risks associated with acquisitions, competition, seasonality and the other risks discussed in our Form 10-K and our other filings made with the Securities and Exchange Commission, which discussions are incorporated in this release by reference.