TMP Worldwide Expands Recruitment Capabilities With Acquisition Of The Corporate Group
New York, April 13, 1998 -- TMP Worldwide (NASDAQ: TMPW), one of the largest recruitment advertising agencies in the world, today announced the acquisition of The Corporate Group, a human resources consulting firm based in Boston. The acquisition adds a further dimension to TMP's recruitment business, which currently includes two of the most popular online career centers The Monster Board (www.monster.com) and Online Career Center (OCC) (www.occ.com).
The Corporate Group works closely with clients, typically Fortune 500 corporations, to develop their overall internal systems and workflow strategies. The Corporate Group is a thought leader on topics ranging from workflow analysis and design to performance metrics and standards. Michael Rosmarin, CEO of The Corporate Group, will work closely with TMP's management team to leverage both companies' expertise among current and potential clients.
"Our goal is to have the solutions to all our clients' staffing issues under one roof," said Andrew J. McKelvey, chairman and CEO of TMP. "With the acquisition of The Corporate Group, we are one step closer to achieving this goal and becoming the firm that companies turn to for all employment and employment-related issues, whether they need to fill a $175,000-a-year COO position or develop a strategy for moving the applications efficiently through the system."
The Corporate Group's area of expertise is in, what Rosmarin defines as the internal operations of a department. Rosmarin and his staff help companies manage and understand staffing information that helps them function more productively. In comparison, TMP currently provides "front end" solutions for companies by providing qualified job candidates through a variety of avenues including traditional newspaper classified advertising and the Internet.
"The synergy between our business and TMP's is strong and I believe we have valuable services we can offer each others clients," said Rosmarin. "TMP's talent acquisitions and Internet capabilities are of particular interest. They have a proven track record in both arenas and we plan to pool our knowledge to create a seamless value chain for our clients."
The Corporate Group brings significant bench strength to TMP's recruitment business mix from the analysis of the internal employment function to workflow design and implementation. The Corporate Group's employment analysis function involves the review of staffing issues from turnover through new hire. With workflow design, The Corporate Group helps companies develop behind the scenes solutions to streamline and improve their human resource areas. Through turnover analysis, The Corporate Group helps corporations gain a more thorough understanding of why employees leave by interviewing ex-employees six months after they have resigned.
The Corporate Group's clients include The Gap, Ernst & Young, Henry Ford Health System, Abbott Laboratories, Nortel, Ziff-Davis, Miller Brewing, Nissan Motor Corp. and NEC. The company's clients are typically senior human resource executives.
Founded in 1967, TMP Worldwide is the world's largest yellow page and one of the world's largest recruitment advertising agencies with more than 3,200 employees in 11 countries. TMP's clients include more than 70 of the Fortune 100 and more than 285 of the Fortune 500 companies. The company's Internet offerings include The Monster Board, the largest and most successful career center on the World Wide Web; Online Career Center, the Internet's earliest career site; MedSearch, (www.medsearch.com), the primary online “help wanted” service for the health care industry; and Be the Boss (www.betheboss.com), a leading provider of information on franchise opportunities.
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The Monster Board is a registered trademark of TMP Worldwide. Online Career Center, Be The Boss and MedSearch are service marks of TMP Worldwide.