The Kforce Story: 50 Plus Years of Great People Delivering Great Results

Chapter 8

Positioned for the Future

As Kforce prepared to celebrate its fiftieth anniversary, they proudly announced for 2011 that revenue exceeded the $1 billion threshold and net income of $27.2 million represented a year-over-year increase of 32 percent. The nation’s anemic economic recovery and uncertainty about the future negatively impacted the valuation of Kforce and other staffing stocks. The firm’s aggressive response was to repurchase 5.7 million shares of stock during the year, effectively increasing the value of each shareholder’s stock. On March 30, 2012, Kforce completed the sale of the Clinical Research business in response to the “changing landscape in the pharmaceutical industry,” and the proceeds were used to bolster Kforce’s financial strength. Tech flex remains Kforce’s largest business unit representing approximately 55 percent of the firm’s total revenues. Revenues from the finance and accounting flex business represent approximately 18 percent of the firm’s total revenues and increased 17 percent for the year 2011 over 2010. During the same period, revenues from the HIM business increased 19 percent. In David Bair’s opinion, the technology consulting industry is continuing to evolve and strengthen. “The IT market hit an all time high for total employment in Q1 2012,” David said, “and all indications are that it will continue to strengthen as the world continues to become ‘technology enabled.’ Quite simply, the next fifty years will represent great opportunity for anyone interested in a technology as a career and most importantly support the growth of Kforce.” In true Kforce fashion, the practice of leveraging technology has remained at the forefront. By 2010 all Kforce core employees were completely mobile, making it possible for them to work from any location in the world. Every employee is equipped with a lap top with full remote access to all systems. All offices have wireless access and are being converted to completely modernized “worKplaces” with electronic white boards and common meeting areas in an open “coffee house” atmosphere. “Our focus on the basics served us well during the recent downturn,” said Bill Sanders, “and will ensure that we are a long term player in the staffing services business.”

Above Top: Kforce’s offices of the future—worKplace— provide a comfortable yet energetic environment. Shown here are Sandy Merein and his team in the San Francisco worKplace.

Above Bottom: Dave Dunkel, Michael Blackman, and Kye Mitchell in the Reston, Virginia, office.

86