Contingent Placements on the Horizon

Second Quarter Results Stay Strong but Signs show Rise of Contingent Placement

San Francisco, CA (July 5, 2008) – As second quarter results weigh in, Cypress HCM continues to post strong numbers. Once again, Cypress’ quarter-end numbers show fulltime placements ahead of forecasts, at 110%.

"Our strong performance in the permanent placement business is the result of more than just our internal processes and our understanding of the fundamental technologies utilized by our clients. It’s also the increase of client base within the startup and small to medium sized companies we’re now working with. Even in a down economy, there are new high tech organizations popping up in San Francisco and Silicon Valley with excellent ideas and the financial backing to carry out those ideas. We’ve created another niche within the startup space providing organizations with the best and brightest talent to help them grow their foundation for any challenges ahead," said Brian J. Vesce, Managing Director.

Cypress operates as an extension of their client’s Human Resource and recruiting divisions, providing value in all areas of Staffing Services. Some interesting results were found during a review of the organization’s Key Performance Indicators (KPI’s). Cypress noticed a significant rise in the need for contingent placement within their client base. This shift has occurred over a short time period and the sudden change may lead to interesting results in the 3rd quarter of this year. There are several areas of opportunity within the contingent placement service that will require additional needs to reduce liability and maintain visibility. "I feel our efforts to become a full staffing service firm will show dividends in the months to come. We have many additional Employment of Record Services (EOR) and Managed Service Offerings in the pipeline that should prove to be very exciting," said Vesce.

About Cypress HCM:

Cypress Human Capital Management (HCM) identifies, recruits, selects, and deploys information technology talent for the best and brightest companies in the nation. By combining our intimate knowledge of technology with our understanding of talent and human capital management, we deliver tangible value to each client we serve. Driven to be more than just an IT Staffing Company, Cypress HCM was founded to deliver Services, Solutions, and Tools that enable our clients to improve their IT initiatives. Cypress HCM enhances visibility into the recruitment process, provides superior performance, and delivers a measurable cost reduction for productivity.

Media Relations Contact:
Brian Koehnemann
bkoehnemann@cypresshcm.com