HONG KONG, June 4 (Reuters) – U.S.-based Kelly Services Inc. , the world’s fifth-biggest recruitment firm, said on Monday it was expanding into China by acquiring a staffing company with offices in seven cities in mainland China.
\nKelly Services, which is based in Troy, Michigan, said it had agreed to acquire P-Serv, a privately owned company which is based in Singapore but has offices in Hong Kong and seven cities in mainland China, including Beijing, Shanghai and Guangzhou, as well as second-tier cities Chengdu and Suzhou. <\/p>\n
It would not disclose how much it had paid for the Singapore company but said the acquisition would enable it to do executive search, middle-management placement and temporary and contract staffing in China. <\/p>\n
“We’ve got a number of multinational clients worldwide who are finding it difficult to find talent in China and want to use a recruitment company that has integrity,” Dhiren Shantilal, Kelly Services’ senior vice president for the Asia-Pacific, said by telephone. <\/p>\n
A shortage of managerial talent in China has created a tight labour market and foreign companies face difficulty keeping staff amid rampant poaching. <\/p>\n
Kelly’s clients include Intel Corp. , the world’s top chip maker, which has operations in second-tier cities Chengdu and Dalian. Shantilal said Kelly hoped to expand into three more second-tier cities in the next six to eight months. <\/p>\n
He estimated that revenues earned by recruitment companies in China amounted to about US$2 billion in 2006 and would probably reach US$3 billion in 2008. <\/p>\n
Foreign recruitment firms have been eying expansion in China since Beijing last year partially relaxed restrictions on investment in the sector. <\/p>\n
In February this year Chicago-based Hudson Highland Group Inc , the world’s sixth-biggest recruitment company, acquired a Chinese IT recruitment firm to better serve its multinational clients.<\/p>\n","protected":false},"excerpt":{"rendered":"
HONG KONG, June 4 (Reuters) – U.S.-based Kelly Services Inc. , the world’s fifth-biggest recruitment firm, said on Monday it was expanding into China by acquiring a staffing company with offices in seven cities in mainland China. Kelly Services, which is based\u2026<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_kad_post_transparent":"","_kad_post_title":"","_kad_post_layout":"","_kad_post_sidebar_id":"","_kad_post_content_style":"","_kad_post_vertical_padding":"","_kad_post_feature":"","_kad_post_feature_position":"","_kad_post_header":false,"_kad_post_footer":false,"_kad_post_classname":"","footnotes":""},"categories":[13],"tags":[3],"class_list":["post-1023","post","type-post","status-publish","format-standard","hentry","category-investinginchina","tag-null"],"yoast_head":"\n