Kelly Services® Invests in Business Talent Group®, Unlocking the Next-Gen Gig Economy and Underscoring Rising Demand for High-End On-Demand Talent
Source: Nasdaq GlobeNewswire / 26 Sep 2018 07:29:59 America/New_York
TROY, Mich., Sept. 26, 2018 (GLOBE NEWSWIRE) -- Kelly Services® (Nasdaq: KELYA, KELYB), a global leader in providing workforce solutions, today announced it has made an equity investment in Business Talent Group® (BTG), the leading marketplace for on-demand consultants, experts, and executives. The investment establishes a relationship that promises to unleash the potential of the next generation of the “gig economy” for the benefit of top companies and skilled talent. As the lead investor in BTG’s Series C funding, Kelly Services will hold a minority stake in BTG; other terms of the investment were not disclosed.
The investment underscores the rising demand for highly skilled independent talent, a growing segment of the gig economy. McKinsey predicts a global shortfall of 35 – 40 million high-skill workers by 2020, with only 7% of senior managers indicating that they will have enough talent—and the right talent—within their organizations to pursue their most promising opportunities.
BTG’s unique model blends proprietary technology and talent data with a dedicated in-house team to select and deliver the right specialized independent talent to the Fortune 1000—a critical area of focus for both companies. By delivering curated, vetted and legally compliant talent and by advising firms on how to launch their own on-demand talent programs, BTG leads the market in helping companies integrate high-end independent talent into their business strategy, planning and execution. Kelly’s investment in BTG creates a new synergy in assisting companies to build agile workforces and access hard-to-find skills; it also enables Kelly’s overall specialty strategy.
Jody Greenstone Miller, Business Talent Group’s Chief Executive Officer and Co-Founder, stated, “With a workforce solution leader like Kelly backing our vision to make on-demand independent talent a seamless and ubiquitous resource for every company, BTG further solidifies its place at the forefront of the next-gen gig economy. BTG has already enabled nearly half of the Fortune 100 to access this network to work smarter, faster, and more flexibly. Working with Kelly Services, as well as other partners, will dramatically expedite our efforts to bring those benefits to leading companies.”
With Kelly’s investment, BTG will accelerate the development and growth of its enterprise-wide on-demand talent offerings and its proprietary technology platform. The Kelly-BTG relationship is also aimed at expanding client access to the strong pool of independent professionals, adding specialty skills and expertise to organizations while educating clients on how to leverage emerging talent models.
“BTG has emerged as a leader in the field and shares Kelly’s passion for empowering the future of independent work,” said George Corona, President and Chief Executive Officer of Kelly Services. “Companies need the experienced talent to compete and win in the market, but they’re faced with a new world of work where the old talent models aren’t effective anymore. By providing insight and expertise to help companies navigate the new world of work, BTG and Kelly will bring top talent to organizations. We are committed to transforming the world of work as we did when we founded the staffing industry 72 years ago.”
“Companies adapting to the new world of work know they need to understand how skilled talent actually want to work if they are to compete successfully in their specific marketplaces,” said Teresa Carroll, Executive Vice President of Kelly Services. “This made BTG a natural fit for Kelly, as they have pioneered new ways to connect highly skilled independent talent to top global companies. As we take on a greater advisory role with our customers and help them rewrite their scripts on talent strategy, we are excited to invest in BTG to expand the type of specialty talent our clients can access. With specialty talent increasingly choosing to work independently, Kelly remains committed in helping organizations tap into this talent pool, as does BTG.”
Amelia Tyagi, Co-founder and President of BTG said, “Kelly Services’ vote of confidence in BTG highlights our leadership in facilitating the rise of the independent professional—made possible by the mix of market dynamism, technological advances, and human aspiration that drives every innovation. In particular, talented people are going independent because they can choose what to work on and with whom to work. Through this relationship, leading companies will benefit from independent professionals who are experts at the top of their game and are eager to apply their skills to the most challenging and important business issues.”
Kelly and BTG will benefit from the respective expertise each brings to this relationship, even as both firms continue to operate independently and build strong bonds with multiple partners throughout the entire workforce ecosystem.
About Business Talent Group
Business Talent Group (BTG) is the leading marketplace that connects independent management consultants, subject matter experts, and executives with top companies to solve their biggest business problems. BTG provides just the right on-demand talent needed—on-site or remote, part-time or full-time, individuals or teams, anywhere in the world. More than 40% of the F100 trust BTG to curate, vet, and deliver legally compliant talent that fuels growth, innovation, and performance improvement. BTG’s commitment to project success has earned the company a 99% fill rate on all talent requests and a 97% repeat rate among top global companies. For more information, visit www.businesstalentgroup.com and join the conversation on Twitter and LinkedIn.
About Kelly Services
As a global leader in providing workforce solutions, Kelly Services, Inc. (Nasdaq: KELYA) (Nasdaq: KELYB) and its subsidiaries, connects people to work across a comprehensive array of outsourcing and consulting services as well as world-class staffing on a temporary, temporary-to-hire, and direct-hire basis. Kelly® directly employs nearly 500,000 people around the world in addition to having a role in connecting thousands more with work through its global network of talent suppliers and strategic partners. Revenue in 2017 was $5.4 billion. For more information, visit www.kellyservices.com. Connect with us on Facebook, LinkedIn, and Twitter.