The investments made in launching NRG’s recruitment process outsourcing (RPO) and project solution, greenbean by NRG, coupled with ongoing investment in technology and people has resulted in the successful year-on-year growth anticipated by the business.
In its financial year ending December 31 2018, the Newcastle-based recruitment specialist delivered against its plan of aligning with key sectors and clients to address candidate and skills shortages.
An increase in operating profits to £357K (versus breakeven in 2017) and a gross margin uplift of 4% was the result of a stronger mix of business and a balanced offering of 50/50 temp and perm revenues.
Overall cost reductions of 4% align to the investments made during 2017 as digital, technology and website investments start to generate productivity and efficiency improvements, as well as improved candidate experience. This investment programme has continued into 2019 with the deployment of new IT hardware and further upgrades to recruitment software, providing staff with a more flexible working environment.
A very positive year of trading, which continues into the first half of 2019, sees greenbean by NRG delivering project based ‘plug and play’ solutions to an extended range of clients both regionally and nationally, with a balanced portfolio across manufacturing, healthcare, BPO, education, financial services and data management.
The operating models offered by greenbean by NRG have excited clients. With the agility and flexibility to engage under the Managed Service Provision (MSP) model, Calsonic Kansei has extended their contract with the business for a further two years, following a successful six-year tenure.
The project ‘plug and play’ solution has afforded businesses such as Sage and Virgin Money the key quality of service needed to support customer-led projects, with the full-service RPO model also delivering success for the business, including an expanded contact for a major government outsourcer in the healthcare sector.
NRG’s traditional professional staffing and Executive Search business has also seen year-on-year growth and a strong start to 2019, not least in social housing and infrastructure and development where the business’ client base is national.
Therese Liddle, Chief Executive comments, “NRG is a well-balanced business with an excellent client base and strong candidate relationships. We have a professional team of people at NRG in whom we continue to invest and develop. NPS results show that we have good client and candidate feedback, and we strive to exceed these results.”
“We work closely with clients, listening to their business needs and whilst we are not immune to any economic risk, we remain confident that our close relationships and agile business style positions us strongly for continuing growth through 2019 and beyond.”
“As a leadership team, we’re confident that our continued investment in our people, technology and digital offering is key to delivering high quality service to candidates, clients and staff.”
Lorna Moran, Founder and Chair of NRG added, “The bold investments and decisions we made in 2017 aligned to our focus on anticipating market trends and challenges and ensured the growth expected in 2018 and beyond.”
“Our clients see the strength of the NRG and greenbean by NRG proposition for their own continued success and we have a healthy business pipeline, a strong balance sheet and an excellent client base.”