Bay Area Job Market – Halftime Report

San Francisco, CA (July 20, 2009) – The second quarter for Cypress HCM’s staff augmentation and business process outsourcing divisions saw positive increases. The staff augmentation division was strong primarily within contingent placements having won several infrastructure related projects. As forecasted however the need and willingness for companies to need outside assistance for direct hire placements was low. Same quarter sales for direct hire placement searches are still lagging considerably with little signs of an increase for the third quarter.

Cypress HCM’s Business Process Outsourcing (BPO) division continues to see an increase with its Employer of Record Service program (also known as Pay Rolling or EOR services). Employer of Records Service has been strong due to the following three reasons: (1) Regardless the economy, companies have pressing temporary needs in order to meet project deadlines. (2) Companies are still cautious to where the economy is at so adding contingent labor is currently favorable as apposed to increasing fulltime benefit employee headcount due to long term spend concerns. (3) As apposed to utilizing staffing organizations as a primary resource to locate and qualify top contingent talent the market is flooded with resources and companies are not hesitating to reach out to their known contacts for short term projects.

Cypress HCM has developed the industries best program that allows organizations to quickly bring on pre-identified resources on a contract basis with no disturbances at all. Cypress leverages COMPAS, a proprietary software as a service platform to capture: companies requisitions & orders, automate consultants on-boarding initiatives, automate consultants background checks, process and automate all timecard & expenses activities, schedule and automate consultant payments, consolidate and automate customer invoices, reports related to all customers contingent numbers & activities , all off boarding activities, all tax filings & San Francisco’s HCSO Compliance / Paid Sick Leave Ordinance to insure compliance.

For more information about our Employer of Record Service, please give us at call 415-394-6400 or request more information.

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