Branding Building Blocks Capital structure Copy & Paste Model Corporate social responsibility Dividend policy Gross margin differentials Historic performance Debt Facility Deregulation EBITA development HR Solutions Industry perspective Inhouse services Legislation

Lily pad model Managing through the cycle Mission Operating working capital Penetration rates Productivity Recruitment Revenue split Risk management Specialties Strategy Shareholder base Staff turnover Strategic growth drivers Unit steering model

Copy & paste model

"copy & paste" organic growth strategy: three phases

Each country in which Randstad operates has its own specific characteristics. Firstly, the staffing markets themselves are in different phases of development. Labor laws differ, penetration rates differ, and markets can be in different stages of the economic cycle. However varied they may be, they all share one similarity. All have opportunities for growth.

Secondly, within our various markets, Randstad itself is in different phases of development. The attached graph shows our position in 2007 in individual country markets. There are three phases in our growth strategy.

In the first, or "focus" phase, growth is mainly driven by the organic development of the individual market. Often this is through mass-customized, but it can also be driven by establishing a specific specialty that is in demand in that market. Adding the relevant range of specialties, by copying and pasting best practices from other markets, is the next step. The third phase sees growth generated by new services, such as HR Solutions.

We build in this sequence as focus is very important. Developing too many service lines in a young market would lead to distraction and therefore suboptimal growth and results.

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