Company Overview - Kforce

Goals

To have a broad understanding of the company known as Kforce. An ideal response would be a comprehensive overview that would include One: the firm's history and significant milestones, Two: publicly available revenue, and revenue growth over past 5 years, Three: the number of offices and employees, Four: news from key press releases from the past 12 months, Five: reviews from Glassdoor that would be relevant to a potential candidate, Six: how Kforce ranks within its peer group and 10 of the firm's top competitors, and Seven: an organizational chart for key executives with pics and links to their LinkedIn profiles.

Early Findings

Caveats to the Research

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Kforce: Milestones and History

  • Kforce started out as a company called Source Edp which was founded in 1962 by Dave Grimes and Bob Trotter, and company called Romac and Associates, founded by Ray Roy in 1966.
  • In 1997, Kforce was launched, known as KnowledgeForce Resource.
  • Kforce.com’s commercial debuts at the January 30, 2000 Super Bowl game., and year is also notable for when KnowledgeForce Resource officially became Kforce. The following year marked when Kforce moved to its headquarters in Ybor City in the state of Florida, on September 14th, 2001.
  • In 2007, Kforce passed the one billion mark in unaudited annual revenues, which was repeated in 2011.
  • In 2012, KForce celebrated 50 years in business.
  • "When the Kforce name debuted in 2000, it was the corporate banner for a nearly 40-year-old business. Kforce was a new name for an old company, one whose size roughly doubled the year before the name change when two competitors, Romac International and Source Services Corporation, joined together to create a new national force in the staffing services industry. Source Services was the larger of the two companies when they merged, but Romac was dominant partner in the corporate marriage, with its absorption of Source Services representing one of a string of acquisitions completed by the company during the latter half of the 1990s."
  • "In mid-February 1998, Romac and Source Services revealed that they had agreed to a $375 million merger in a stock-for-stock deal. The announcement promised to create one of the largest staffing agencies of professional and skilled workers in the country. Romac, thanks to the acquisitions completed since its IPO, was in the midst of a tremendous growth spurt, having increased its revenues from $94 million in 1996 to $181 million in 1997, the last year the firm released annual financial results before it absorbed Source Services. Romac collected its sales total from 31 offices serving Fortune 1000 companies in 18 markets, a corporate profile set to become substantially more distinguished with the addition of Source Services' operations. Source Services possessed 54 offices in the United States and one in Canada, providing professional workers trained in the finance, engineering, healthcare, and legal fields. Source Services derived two-thirds of its $295 million in sales in 1997 from providing temporary and permanent workers to the IT industry. Once combined, the new company was projected to have annual revenues of $476 million, a total drawn from 86 offices in 40 markets, including the 25 largest markets in the country."
  • "Although Source Services was larger than Romac, Romac was the surviving entity following the merger. The combined company was named Romac International, that counted Source Services as a wholly owned subsidiary. In 1999, the name of the company was changed to kforce.com, an abbreviation of the company's KnowledgeForce marketing slogan. The name change coincided with the company's decision to re-create itself as an Internet-based business, making the beginning of the 21st century the beginning of a new era of existence for the organization. More than $50 million was spent moving the company's business online, including $4.5 million spent to air commercials on Super Bowl Sunday in early 2000."
  • "In 2001, Kforce acquired Emergency Response Staffing Inc., an Arizona-based company that placed nurses in hospitals. The acquisition of Emergency Response was followed by another purchase, one that bolstered Kforce's involvement in the pharmaceutical sector. Scientific Staffing, a Florida-based company that provided lab technicians to the pharmaceutical industry, was purchased."
  • Today, "Kforce is a solutions firm that builds and manages expert teams in technology and finance & accounting. We deliver on your business objectives by combining a global KNOWLEDGEforce®—our namesake—with flexible delivery and an unmatched drive for excellence. Kforce serves as a trusted partner to more than 4,000 organizations, providing next-level insights and powerful results."

Summary Of Our Early Findings Relevant To The Goals

  • Our initial hour of research was spent scanning to ensure all the questions could be answered using publicly available sources, and then completing answering the first part of the six part ask.
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