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Paula Adams, president; Leah Ann Iaguessa, CFO; and Cindy Hedgpeth, vice president of branch operations
Paula Adams, president; Leah Ann Iaguessa, CFO; and Cindy Hedgpeth, vice president of branch operations

2012 Business Class Honoree: Penmac Personnel Services Inc.

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Since 1988, Penmac Personnel Services has made a name for itself by putting people to work.

The company works with employers to provide temporary and long-term employees, and it also offers other functions, including employee screenings, related to human resources.

The company now encompasses 29 offices in eight states, with the most recent opening in Mount Vernon on May 14.  

President Paula Adams says Penmac had roughly 35 offices at its peak, but openings – and closures – are based on demand.

“For the most part, we open a branch because we have business that leads us there, or maybe an existing customer has an opportunity for us in another town or another state,” she says, nothing that the new offices open the door to other opportunities in their respective markets.”

The company’s focus is on light-industrial staffing, which comprises 84 percent of its business, with 6 percent in transportation and 10 percent clerical, Adams says. Work in the medical and technical sectors are too small to affect percentages right now but present opportunities for growth, she said.

In North Carolina, Penmac launched a professional placement component in early June, with a recruiter on staff in that market, bringing another opportunity for growth to the table.

“We’re finding that in today’s world, it doesn’t really matter where you sit,” Adams says. “If you’ve got a position, you can really fill that from anywhere.”

In 2011, the company posted revenues of $91.2 million, up nearly 18 percent from 2010, said Chief Financial Officer Leah Ann Iaguessa, adding that the company’s operating income was up 30 percent year-to-year.

Working with a network of 139 in-house employees, Penmac placed – and generated W-2 forms – for more than 17,700 associates in 2011.

Adams says there are jobs available for those who want to work, but finding qualified, willing applicants, is a challenge.

“I know unemployment’s high, (and) because they see that high unemployment, a lot of employers think we’ve got hundreds of people who are extremely qualified who are looking for unemployment,” Adams says, noting that some people choose to collect unemployment rather than going back to work.

“We have a great need for qualified people. We’ve got a lot of jobs,” she says, noting that employers are not only more positive about the economy, they’re also turning to Penmac for help filling more skilled positions and are taking their time to meet several candidates before choosing an associate.

Employees and qualifying associates also have access to an employee stock ownership program, launched in October 2010 when founder Patti Penny was ready to scale down her role in day-to-day operations.

The company also offers assistance with overcoming myriad options for those who want to be part of the work force. For example, Penmac partners with Ozarks Technical Community College to offer general equivalency diploma classes. The staffing company also offers assistance for brushing up on clerical skills and provides transportation for employees when possible. The company also partners with United Way and Female Leaders in Philanthropy for Suit Yourself, which provides professional women’s apparel.

“If we know what the barrier is, even on an individual basis, we’ll try to help as much as we can,” Adams says.

Click here for full coverage of the 2012 Business Class.


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