ISS is revealed as one of the 50 largest multinational employers in the UK to attract inward investment. Published in the inaugural Sunday Times PA Consulting Inward Investment Track 50 on June 8, 2014, the league table ranks multinationals by their UK Full Time Equivalent (FTE) staff numbers and focusses on employment as an important part of the economy.
The 50 companies featured in the table employ more than 780,000 UK staff in FTE positions. The FTE figure converts hours worked by part-time employees into the full time equivalent. The 780,000 UK employees account for a significant proportion of the total of 3 million people employed by the 45,000 overseas-headquartered corporates operating in the UK.
The Inward Investment Track 50 is supported by UK Trade & Investment and is compiled by Fast Track, an Oxford-based research company. The list was announced at a high-level event hosted by Lord Livingston, Minister of State for Trade & Investment.
Service Providers feature highly
Almost half of the 780,000 UK staff work for service sector companies. As a service provider, ISS features highly with a total of around 47,200 employees, equating to a full time equivalent contingent of over 24,000 people. Other service providers include IT consultancy, Fujitsu, which has more than 12,000 workers in the UK, and Hewlett-Packard with 15,000 FTE staff in IT services.
Richard Sykes, CEO, ISS UK and Ireland, commented:
– We’re delighted to be part of a distinguished list of companies and to play such a key role in the UK’s economy. We’re a people-focused organisation serving both local communities and the country and it’s a welcome step to be recognised for our positive impact on UK innovation and wealth creation. Our global integrated projects are responsible for thousands of jobs in the UK, covering sectors ranging from engineering to food & hospitality. It’s good to be recognised as a leading force in facility services and the UK economy overall.
Contribution to the UK economy
The UK is one of the top locations in the world for investment by multinational corporates and attracted US$62 billion of new investment in 2012, the highest level in Europe (source: Unctad World Investment Report).
Colm Reilly, who leads PA Consulting Group’s economic develop unit and is Managing Director of UKTI’s investment team, said:
– These are exciting times for UK inward investment and companies operating in the country show what can be achieved. Britain is making good progress, but there is more to be done. Companies must learn to focus on developing technology that can help a variety of sectors, rather than serving the industries they have typically worked with.