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Aquent

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Aquent
Company typePrivate
IndustryProfessional services
Founded1986
HeadquartersBoston
Area served
Worldwide
Key people
John Chuang (co-founder and CEO)
ServicesEmployment agencies
$500 million (2006)[1]
Websiteaquent.com

Aquent is a staffing company specializing in placing temporary employees in marketing and creative industries. According to Staffing Industry Analysts, it is among the "largest marketing/creative staffing firms in the United States".[2] Aquent also operates internationally with offices in Japan, Canada, Australia, France, UK, and the Netherlands.[3]

History

[edit]

Harvard College students John Chuang, Mia Wenjen and Steve Kapner in 1986 founded a typesetting business called Laser Designs from their Harvard dorm.[1][4][5] The business grew and they added temporary staffing related to Mac training as an offering and called it MacTemps.[1] MacTemps grew, adding non-Mac as well as permanent placements. With MacTemps no longer reflecting the business, they changed their name to Aquent, intended to mean "not a follower" in Latin.[6]

The company has grown substantially and entered into new business areas through acquisitions.

The company saw a drop in revenue in 2001 in the aftermath of the dot-com bubble with revenue dropping in 2001 compared to 2000.[7] To counter the drop off in business, Aquent purchased Renaissance Worldwide Inc., an IT consultancy and staffing firm, for $106 million.[7] Aquent at that time had been known for offering staffing of print and web designers.[7] The deal allowed Aquent to also offer back end support staffers, which was considered by the company to complement well as a package solution.[7] The acquisition of Renaissance also included a municipal and state government IT consulting subsidiary, which as initially planned was sold months later in 2002 to EOne Global for $45 million.[8]

In 2003, Aquent Studios was launched as a marketing division within Aquent that provides companies with an on/off site studio, which produces creative and marketing content. Aquent Studios also operates internationally.[3][9]

In 2003 the company made a hostile takeover offer for Computer Horizons Corporation, a computer network services company with a staffing business segment.[10] Aquent through its investment banker Robert W. Baird & Co. had initially approached Computer Horizon's management on April 3, 2003 with an invitation to have dinner, which was rejected by Bill Murphy, the President and CEO of Computer Horizons.[11] Aquent then proceeded to launch a cash tender offer on April 14, 2003 that valued Computer Horizons at $154 million.[11] This proposal was opposed by management and in May the offer was rejected.[11]

Aquent acquired Corporate Project Resources Inc. (CPRi), a staffing agency for marketing jobs, in 2005 for $25 million and renamed it Aquent Marketing Staffing while keeping its operations in Chicago.[12]

In 2006, Aquent acquired Seattle-based Sakson & Taylor, a content design and development consulting and staffing firm with a significant presence at Microsoft, along with offices in several cities. The Sakson & Taylor brand (with "an Aquent company" appended) was retained for some years, but is no longer used. The former Sakson & Taylor headquarters are now Aquent's Seattle offices.[13]

New Divisions

[edit]

In 2011, Aquent launched a new division, Vitamin T, which focuses on placing "digital creatives" with marketing departments and advertising agencies for contract assignments.[citation needed][14]

In 2012, Aquent launched Gymnasium offering free online courses for creative talent.[15]

In November 2022, Aquent announced that its talent and recruiting business and its Vitamin T brand will together become Aquent Talent. [16]

Company Structure

[edit]

In November 2022, Aquent announced a restructuring.[17] The restructuring positions Aquent LLC as the parent brand of these global work solutions products:

  • Aquent Talent
  • Aquent Studios
  • Aquent Robohead
  • Aquent Scout
  • Aquent Employer of Record
  • Aquent Gymnasium

Sustainability

[edit]

Aquent announced a goal to erase its entire carbon footprint of 35 years. From 2019 to 2021 the company reported a 90% reduction of its carbon footprint.[18]

Diversity+

[edit]

Aquent launched a diversity recruiting solution for hiring managers called Diversity+. This solution provides diversity recruiting strategies to clients.[19]

Publications

[edit]

Aquent releases a yearly Salary Guide for marketing, creative, and design talent. The 2023 Salary Guide revealed that despite inflation peaking at 9.1% in 2022, salaries across these positions increased by just 1.1%, and gender and ethnicity wage disparities are still prevalent. [20]

Recognition

[edit]
  • Aquent ranks as one of the top firms on the Best Temp Staffing Firms list and Best Professional Recruiting Firms list.[21]
  • Aquent CEO, John Chuang, named to SIA’s 2022 staffing 100 for North America.[22]
  • PRO Unlimited is a global innovator of contingent workforce management software and services. When it announced its Global Supplier Awards for Service, Aquent was singled out as the sole Platinum winner.[23]
  • Aquent received recognition for offering health insurance to part-time workers.[24]


References

[edit]
  1. ^ a b c "John Chuang". BizTech. November 27, 2007.
  2. ^ "2015 Largest Marketing/Creative Staffing Firms in the United States". Staffing Industry Analysts. Archived from the original on 2016-10-26. Retrieved 2016-05-15.
  3. ^ a b "History". aquent.com. Retrieved 2019-10-10.
  4. ^ "Litl Introduces Its Web-Based Netbook". Wall Street Journal. November 4, 2009.
  5. ^ "Sites to Help Professional Workers Who Like to Go It Alone". New York Times. October 14, 1999.
  6. ^ "A Generation of Freelancers". New York Times. August 15, 1999.
  7. ^ a b c d "Aquent acquires Renaissance". Boston Business Journal. December 31, 2001.
  8. ^ "'E-Taxes' Fuel Merger". New York Times. April 18, 2002.
  9. ^ "Our Approach". Aquent Studios. Retrieved 2019-10-10.
  10. ^ "Computer Horizons Buys RGII Technologies". New York Times. July 10, 2003.
  11. ^ a b c "Computer Horizons rejects Aquent bid". MarketWatch. May 2, 2003.
  12. ^ "Aquent acquires CPRi". Ad Age. July 25, 2005.
  13. ^ "Sakson & Taylor acquired by Aquent". www.bizjournals.com. Retrieved 2023-05-12.
  14. ^ "Aquent launches new division Vitamin T". Vitamin Talent. May 11, 2011. Archived from the original on 2020-10-25.
  15. ^ "Our History". Archived from the original on 2016-09-17.
  16. ^ https://aquent.com/news/aquent-s-staffing-and-recruiting-business-and-vitamin-t-brand-become-aquent-talent-to-address-high-demand-for-specialized-remote-workers
  17. ^ https://aquent.com/news/aquent-s-staffing-and-recruiting-business-and-vitamin-t-brand-become-aquent-talent-to-address-high-demand-for-specialized-remote-workers
  18. ^ "Corporate Sustainability Initiative | Aquent". aquent.com. 2023-01-31. Retrieved 2023-05-12.
  19. ^ "Aquent to help businesses committed to improving workplace diversity | Aquent". aquent.com. 2021-10-08. Retrieved 2023-05-12.
  20. ^ https://aquent.com/news/aquent-s-2023-salary-guide-reveals-stagnant-wages-and-narrowing-gender-pay-gap
  21. ^ PEACHMAN", "RACHEL RABKIN. "America's Best Temp Staffing Firms 2023". Forbes. Retrieved 2023-05-12.
  22. ^ "John H. Chuang – The Staffing 100". si100.staffingindustry.com. Retrieved 2023-05-12.
  23. ^ "PRO Unlimited Honors Suppliers for Superior Service in Contingent Workforce Management". PRWeb. Retrieved 2023-05-12.
  24. ^ "10 employers that provide health benefits to all employees equally | Aquent". aquent.com. 2020-07-29. Retrieved 2023-05-12.
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