Adecco opens staffing services partnership in China
Adecco, the world's largest staffing company, today announces that Adecco Hong Kong has signed a Cooperative Working Agreement with Fesco Shanghai to promote temporary staffing services in Shanghai and its surrounding region.
Jul 14, 2004
Chinese regulations do not at present allow foreign recruitment companies to act as the legal employer of staff assigned to work in clients' companies. Fesco (Shanghai Foreign Services Co, Ltd), the largest state-owned Human Resources company in China (with the biggest market share in Shanghai), is authorised by the government to handle such services.
Within the scope of this Cooperative Working Agreement, Adecco and Fesco will share their respective knowledge and expertise. Adecco will seek clients, negotiate the terms and
conditions of the contracts together with Fesco and will assist Fesco in the recruitment process. For its part, Fesco will handle all the administrative aspects of the employment relationship such as hiring application process and payroll. Adecco will commit to deliver the high quality level of service that all its clients are seeking and, as their relationship manager, will remain their single point of contact.
With this Agreement, Adecco will for the first time be able to assist its international clients to set up or to expand their operations in Shanghai and the region, providing them with a flexible and adequate workforce whose legal employer will be Fesco Shanghai.
Jérôme Caille, Group CEO of Adecco S.A., said: "This collaboration is a first step in promoting and developing temporary assignments in China, potentially the world's largest staffing services market. We are looking for the Fesco agreement to provide a successful model of industry and Chinese best practice, which can be expanded to other major cities in China over the years ahead."
Gu Jiadong, CEO of Fesco Shanghai said: "China is now receiving the largest amount of foreign direct investment of any country in the world. With the dramatic growth of its economy and its rich resources in terms of manpower, there is little doubt that it will become the largest staffing services market in the world. This collaboration is the first of its kind, made between two giants, to promote staffing services in China and will bring together the complementary strengths of an international business model with local best practise. We are looking forward to creating value for our local clients and to the closer cooperation with Adecco in the near future."