SThree appoints Parasol to umbrella ASL
Under the terms of the arrangement, Parasol will be an approved employment provider for UK-based contractors who secure an assignment through any of the SThree brands.
Parasol’s sister firm, ClearSky Contractor Accounting, will assist and support those wishing to set up their own limited company.
Charlie Cox, commercial manager at SThree, said: “As a business we are committed to ensuring our contractors receive the highest possible level of service and support, so it is very important that this is mirrored by any of our approved suppliers.
“We consider compliance to be of utmost importance for both ourselves and our customers, which is why we operate a rigorous vetting and selection process when it comes to appointing partners and approved providers. We are confident this has been achieved and we have a best-in-class approved supplier list in place for the 2015/16 period.
“With changes in onshore and offshore legislation, reporting requirements and discussions around travel & subsistence practices, it was important that any approved suppliers demonstrated the required level of knowledge and expertise when it comes to legislative compliance.
“Parasol and ClearSky did that, and that is why we are pleased to appoint them to our ASL, and look forward to building a strong working relationship over the coming months and years.”
Launched in 1986, SThree operates a multi-brand business model in accountancy & finance, banking, engineering & energy and life sciences, as well as its original field of ICT.
The group has 45 offices in 18 countries, its four largest brands being Real Staffing, Computer Futures, Progressive, and Huxley.
SThree’s financial results for the year ending 30th November 2014 showed that gross profit for the contract side of the business was up 27% year-on-year. Overall, full-year gross profits increased 18% on the previous year to reach £218m.
Steven Lloyd, commercial director at Parasol and ClearSky’s parent company Optionis, said: “We’re delighted to be working with SThree, and cannot wait to begin providing the company and its contractors with an excellent service.
“This is the latest in a series of new business wins for us, as we invest to improve both retention and acquisition rates.”
Parasol has employed more than 70,000 contractors since its launch in 2000, while ClearSky is one of the UK’s 100 largest accountancy firms by fee income.