Kelly Services, Inc. (KELYB): History, Ownership, Mission, How It Works & Makes Money

Ever wondered how companies find the right talent to drive their success? Kelly Services, Inc. (KELYB), a global leader in workforce solutions, has been connecting people to work since 1946. With $4.3 billion in revenue in 2024 and a presence in over 40 countries, how does Kelly Services maintain its competitive edge in the ever-evolving world of work?

Dive in to discover the rich history, ownership structure, and core mission that define this powerhouse, plus learn how Kelly Services leverages its expertise to generate revenue and deliver value to clients and job seekers alike. Join us as we explore the inner workings of Kelly Services and uncover the strategies that have solidified its position as a key player in the global staffing industry, connecting over 400,000 people with work each year.

Kelly Services, Inc. (KELYB) History

Kelly Services, Inc. Founding Timeline

Year established

The company was established in 1946.

Original location

The company was originally located in Detroit, Michigan.

Founding team members

The company was founded by William Russell Kelly.

Initial capital/funding

Details regarding the initial capital or funding are not widely available in historical records.

Kelly Services, Inc. Evolution Milestones

Kelly Services, Inc. Transformative Moments

• Diversification Beyond Clerical Work:

Expanding into light industrial and technical positions in the 1970s broadened the company’s market and service capabilities.

• International Expansion:

Starting with Canada in the 1960s, international growth established a global footprint, increasing revenue streams and brand recognition.

• Entry into Specialized Staffing:

Focusing on IT, science, engineering, and healthcare allowed the company to tap into higher-margin markets requiring specialized skills.

• Digital Transformation:

Adopting online platforms and data analytics enhanced efficiency in matching talent with jobs, improving customer satisfaction and competitive positioning.

• Adapting to Remote Work:

Providing solutions for remote work during the COVID-19 pandemic demonstrated agility and relevance in a rapidly changing work environment.

For more in-depth insights into the ownership and investment aspects, check out: Exploring Kelly Services, Inc. (KELYB) Investor Profile: Who’s Buying and Why?

Kelly Services, Inc. (KELYB) Ownership Structure

Kelly Services, Inc. operates with a dual-class share structure, distinguishing between Class A and Class B common stock, influencing its ownership dynamics.

Kelly Services, Inc.'s Current Status

Kelly Services, Inc. (KELYB) is a publicly traded company.

Kelly Services, Inc.'s Ownership Breakdown

Understanding the ownership structure of Kelly Services, Inc. provides insights into the distribution of control and influence within the company. Here's a breakdown:

Kelly Services, Inc.'s Leadership

The leadership team at Kelly Services, Inc. plays a crucial role in guiding the company's strategic direction and operational execution. Key figures include:

• Peter W. Quigley: President and Chief Executive Officer
• Olivier Thirot: Executive Vice President and Chief Financial Officer

These individuals, along with other members of the executive team, are instrumental in shaping the company's future. For more in-depth analysis, consider exploring: Breaking Down Kelly Services, Inc. (KELYB) Financial Health: Key Insights for Investors

Kelly Services, Inc. (KELYB) Mission and Values

Kelly Services, Inc. aims to connect people to work in ways that enrich their lives, offering workforce solutions to companies and opportunities to individuals. The company's core values emphasize integrity, innovation, and a commitment to its customers and communities.

Kelly Services, Inc.'s Core Purpose

Official mission statement

Kelly Services' mission statement is: 'Kelly connects people to work in ways that enrich their lives.' This reflects their dedication to not only filling job positions but also enhancing the overall well-being and career growth of individuals.

• Connecting talent with opportunity.
• Providing innovative workforce solutions.
• Enriching lives through work.

Vision statement

While a specific, formally declared vision statement might not be publicly highlighted, Kelly Services' actions and strategic goals suggest a vision focused on leading the workforce solutions industry through innovation, technology, and a commitment to social responsibility. This involves anticipating future workforce trends and adapting to meet the evolving needs of both clients and candidates.

• Leading the workforce solutions industry.
• Driving innovation in talent management.
• Committing to social responsibility and ethical practices.

Company slogan/tagline

Kelly Services has used several taglines throughout its history to reflect its mission and values. These taglines often emphasize the company's role in connecting people with jobs and providing workforce solutions. Here are a few examples:

• 'People are our most important product.'
• 'The Talent People.'
• 'Kelly. Working for You.'

To delve deeper into Kelly Services' mission, vision, and core values, you can explore: Mission Statement, Vision, & Core Values of Kelly Services, Inc. (KELYB).

Kelly Services, Inc. (KELYB) How It Works

Kelly Services, Inc. operates as a global workforce solutions provider, connecting skilled workers with companies across various industries. They offer a range of staffing and recruitment services, along with outsourcing and consulting solutions.

Kelly Services, Inc.'s Product/Service Portfolio

Kelly Services, Inc.'s Operational Framework

Kelly Services, Inc. functions through a network of offices and online platforms, matching job seekers with employer needs. Their operational framework includes:

• Sourcing and Recruiting: Kelly utilizes various channels, including online job boards, social media, and partnerships with educational institutions, to attract and recruit candidates.
• Screening and Assessment: Candidates undergo thorough screening processes, including skills assessments, background checks, and interviews, to ensure they meet client requirements.
• Placement and Management: Kelly places qualified candidates in temporary, contract, or permanent positions, managing payroll, benefits, and other administrative tasks for temporary employees.
• Client Relationship Management: Kelly maintains close relationships with clients to understand their evolving workforce needs and provide customized solutions.
• Technology Integration: The company leverages technology platforms to streamline recruitment processes, manage candidate data, and facilitate communication between clients and employees.

Kelly Services, Inc.'s Strategic Advantages

Kelly Services, Inc. has several strategic advantages that contribute to its market position:

• Global Reach: With operations in numerous countries, Kelly can serve multinational corporations and provide workforce solutions on a global scale.
• Industry Expertise: Kelly has developed specialized expertise in key industries, allowing them to understand specific client needs and provide tailored solutions.
• Extensive Talent Pool: The company has built a vast network of skilled workers, providing clients with access to a diverse talent pool.
• Technology-Driven Solutions: Kelly's investments in technology enable them to offer innovative solutions that improve efficiency, reduce costs, and enhance the overall client experience.
• Strong Brand Reputation: With a long history in the staffing industry, Kelly has established a strong brand reputation for quality, reliability, and customer service.

To gain more insights into the financial stability of Kelly Services, Inc., consider exploring: Breaking Down Kelly Services, Inc. (KELYB) Financial Health: Key Insights for Investors

Kelly Services, Inc. (KELYB) How It Makes Money

Kelly Services, Inc. primarily makes money by providing staffing and workforce management solutions to companies across various industries. It connects businesses with qualified employees on a temporary, contract, and permanent basis.

Kelly Services, Inc.'s Revenue Breakdown

Kelly Services, Inc. generates revenue through its staffing and outsourcing services. These services can be broken down into specific revenue streams, each contributing a different percentage to the company's total revenue.

Kelly Services, Inc.'s Business Economics

Kelly Services, Inc.'s business economics are influenced by several key factors, including:

• Service Offerings: They provide a range of staffing solutions, including temporary staffing, permanent placement, outsourcing, and consulting.
• Pricing Strategy: The company uses a cost-plus pricing model, where they add a markup to the cost of the employee's wages and benefits.
• Market Dynamics: Economic conditions, industry growth, and demand for skilled labor significantly impact their revenue. For example, increased demand for IT professionals can drive up revenue in their SETT segment.
• Client Base: Diversification across various industries reduces risk.

Kelly Services, Inc.'s Financial Performance

Kelly Services, Inc.'s financial performance can be assessed through the following:

• In 2024, Kelly Services, Inc. reported revenue of $4.85 billion.
• Gross profit totaled $894.1 million, or 18.4% of revenue, up from 17.7% in 2023.
• Selling, general and administrative expenses were $763.4 million, or 15.7% of revenue, compared to 15.6% in 2023.
• The company's financial health and performance are crucial for investors. For a detailed analysis, you can refer to this resource: Breaking Down Kelly Services, Inc. (KELYB) Financial Health: Key Insights for Investors

Kelly Services, Inc. (KELYB) Market Position & Future Outlook

Kelly Services, Inc. navigates a competitive landscape in the staffing and workforce solutions industry, with a future outlook shaped by strategic initiatives aimed at capturing emerging market opportunities while mitigating potential risks.

Competitive Landscape

Opportunities & Challenges

Industry Position

Kelly Services holds a significant position in the global staffing industry, focusing on:

• Specialized Staffing: Catering to sectors like technology, engineering, science, and healthcare, which demand specific skill sets.
• Global Network: Maintaining a presence in multiple countries, allowing it to serve multinational corporations.
• Workforce Solutions: Offering a range of services beyond temporary staffing, including permanent placement, outsourcing, and consulting.

To gain more insights into Kelly Services' financial stability and growth potential, explore: Breaking Down Kelly Services, Inc. (KELYB) Financial Health: Key Insights for Investors