Firm FESCO and Adecco establish a collaborative endeavor in Shanghai for boosting HR services in China
Adecco Group Expands Presence in China with FESCO Joint Venture
The Adecco Group, the world's leading provider of HR solutions, has strengthened its presence in China by forming a joint venture with FESCO. This strategic move aims to leverage FESCO's strong local market presence and expertise to expand Adecco's range of HR services in China's rapidly growing workforce market.
Based in Zurich, Switzerland, the Adecco Group connects over 700,000 associates with more than 100,000 clients every day. In China, the group currently has branches in four cities - Shanghai, Beijing, Guangzhou, and Chengdu. The joint venture, named FESCO-our Human Resources Services (Shanghai) Co. Ltd. (FESCO our), began operations on January 1, 2011, with over 100,000 associates on assignment.
FESCO our will operate in Shanghai, the largest HR market in China, and will offer general staffing, professional staffing, outsourcing services, payroll and benefits administration, with potential for service enhancement. The joint venture aims to support Chinese companies locally and in their global expansion, while helping FESCO attract and expand its international client base within China.
Patrick De Maeseneire, CEO of the Adecco Group, expressed optimism about China's HR services market, stating that this joint venture is an important step forward for the Group in China. The Adecco Group is registered in Switzerland (ISIN: CH0012138605) and listed on the SIX Swiss Exchange (ADEN).
However, forward-looking statements in this release involve risks and uncertainties, and actual results could differ materially from current expectations. Numerous factors could affect the Adecco Group's forward-looking statements, including global GDP trends, changes in regulation of temporary work, intense competition, integration of acquired companies, changes in the ability to attract and retain qualified personnel or clients, the potential impact of disruptions related to IT, and any adverse developments in existing commercial relationships, disputes, or legal and tax proceedings.
The services offered by the Adecco Group fall into the broad categories of temporary staffing, permanent placement, outsourcing, consulting, and outplacement. FESCO our will also offer these services, aiming to combine global best practices in staffing and HR services with intimate understanding of local regulations and business culture, targeting sectors with high demand for flexible staffing, talent management, and outsourcing services.
For more information, please contact the Adecco Group's Corporate Press Office at [email protected] or +41 (0) 44 878 87 87. For investor-related inquiries, please contact [email protected] or +41 (0) 44 878 89 89.
This joint venture marks the first cooperation between these two leading companies and lays a solid foundation for further cooperation. As a Fortune Global 500 company, the Adecco Group continues to expand its global footprint, aiming to become the leading human resources provider in the Chinese market, adapting to local client needs while utilizing global resources.
- The Adecco Group, through the FESCO joint venture, aims to expand its range of HR services in China, offering temporary staffing, permanent placement, outsourcing, and consulting services.
- FESCO our, an outsourcing service under the Adecco Group, will operate in Shanghai, offering flexible staffing and talent management, as well as payroll and benefits administration.
- By collaborating with FESCO, the Adecco Group intends to leverage local expertise and attract international clients, while also utilizing global resources to become a leading human resources provider in the Chinese market.
