2016 Business Class: Penmac Staffing Services Inc.

Springfield-based Penmac Staffing Services Inc. is growing its footprint and services fueled, in part, by its entry into a new vertical market: educational staffing. One of a handful of private staffing firms in the country with annual revenue of over $100 million, Penmac has momentum on its side, increasing its number of employees to 22,930 at the end of 2015, a 29 percent jump from 2013.

Financial Performance
Penmac CEO Tim Massey says a 4 percent revenue increase in 2015 follows growth of 15 percent in 2014. And there is more to come.

“I think we still have a lot of upward space to conquer,” Massey says. “I’m satisfied with the results, but I think there is so much more we can do.”

Revenue in 2015 for the staffing agency was $114.7 million, up from roughly $110 million in 2014, when it launched its educational staffing initiative. The firm, which provides substitute teachers for seven area school districts, posted three-year revenue growth of 19 percent 2013-15.

“And we are up about 5 percent so far this year compared to the same time last year. That’s a good sign for us because the slowest part of the year for Penmac is in the first quarter and really through April,” he says.

Profit for the employee-owned company was roughly flat in 2013, up significantly by 36 percent in 2014 and increased 6 percent last year.

Innovation
In 2016, Penmac opened two new locations in Missouri – St. Peters and Washington.

“We are open and doing business in Fulton. It’s not an established branch yet, but we are in that market. And we also are back in Jeff City. And we are currently running a managed-service program for one of our clients in Colorado. We’re not running the staffing, but are managing the staffing services that they utilize,” Massey says.

Alongside internal technology upgrades, the agency is developing a mobile app expected to launch this year.

“The app is just one more tool in the toolkit to assist us in finding the best qualified talent out there,” Massey says, adding push notifications will help strengthen communication with clients and offer workers the ability to track their work history and paycheck information.

Community Involvement
When it comes to giving back, Penmac donates time and money to several local organizations including United Way, through the annual Day of Caring, corporate donations and employee contributions. In 2015, the company received the McDonough’s Champion award for increasing employee donations by over 15 percent.

Through participation in fundraising events such as Handbags of Hope and Rock’n Ribs, Penmac values those working to improve their communities.  

“The majority of our employees are hourly wage earners, so many of these organizations are also assisting our workforce,” Massey says.