Reed is an employment agency based in the United Kingdom. The company was founded in 1960 by Sir Alec Reed CBE. Reed's son, James Reed CBE, is the current chairman and chief executive officer (CEO).
The company's website, reed.co.uk, established in 1995, was the UK's first employment website. In 2014, Alexa ranked reed.co.uk as the UK's largest employment agency website. Reed Specialist Recruitment is listed in The Sunday Times Fast Track 100 league of Britain's largest private companies. Reed offers training, outsourcing and HR consultancy services.
In 2024 Reed reported annual revenue of £1.3 billion. In 1985, 18% of the company was donated to the Reed Foundation, the Reed family's philanthropic arm. The Foundation created and continues to sponsor The Big Give, one of the UK's largest philanthropic endeavours.
Reed Group companies Reed Group has 4500 employees across 350 business units and 180 locations worldwide, dealing in 30 recruitment specialisms. Its headquarters and the majority of its operations are in the UK, alongside offices in the Middle East, Asia and continental Europe.
The company has three main divisions:
Reed Specialist Recruitment Reed Specialist Recruitment provides employment services for permanent, contract, temporary and outsourced jobs, as well as IT and HR consultancy. Industry specialisms include accountancy, banking and finance, office support, education, health and care, HR, management procurement, science, technology, hospitality and leisure. It also offers postgraduate study programmes, business training and personal development courses. The firm also provides screening services.
Reed Online Ltd Reed.co.uk is one of the UK's largest recruitment sites. Its featured jobs come from employers, recruitment agencies and Reed consultants. The site reports receiving approximately 4 million job applications per month, through 14,000 registered recruiters. It also claims a database of 12 million jobseekers worldwide, gathered through online registrations and the Reed office network. The website Reedglobal.com offers jobs across industry sectors world-wide. In 2018 the firm began a partnership with Google to integrate its vacancies into search results. Reed Online's managing director is Simon Wingate.
Reed in Partnership Reed in Partnership is dedicated to assisting unemployed individuals in their transition from welfare to employment. Established in 1998 as part of the Blair Government's New Deal Programme, this division has since enabled more than 250,000 people to secure employment and currently employs over 2,500 staff. Reed in Partnership is a former partner to the UK's National Citizen Service.
Reed Environment is a Reed in Partnership initiative aimed at boosting Britain's net-zero skills base. Launched in July 2023, the project is establishing a number of Energy Academies across the UK by 2025, providing essential skills training for assessors and installers of net-zero technologies, such as solar power, electric vehicles, and heat pumps. Additionally, the academies will offer job opportunities, energy advice, and consultancy solutions related to retrofitting homes for energy efficiency. The initiative commenced with Reed's strategic investment in the Oxford Energy Academy, an OFSTED-recognised training provider.
History
1960–1971 Aged 26, Reed opened the first branch of Reed Employment on 7 May 1960 located on Kingsley Road, Hounslow, in West London, with £75 taken from his Gillette pension fund. The firm then expanded to a second branch in Feltham and ten more branches over the next three years. In the early 1960s, most employment agencies were located in first or second floor offices. Copying the example of rival Alfred Marks, Reed began moving his offices to ground floor locations on main shopping streets.
1971 flotation The end of the 1960s saw a bull market in UK share prices, prompting stock market flotations by a number of rival employment agencies, including Brook Street Bureau and Alfred Marks.
By 1969 Reed Employment had opened 75 branches. Although profitable, financing the expansion caused cash flow difficulties. These were compounded when the firm's bank began to reduce its overdraft facility, which the firm had been using as working capital. Faced with a shortage of capital, Reed decided to float the business. Reed Employment floated on the London Stock Exchange on 13 January 1971, at an offer price of 12s 6d, a price/earnings ratio of 13.1 and a yield of 4.4%. Alec Reed retained a third of the company, having given a further third to his three children and floated the remaining third (1.3 million shares, for just over £10.97m in 2014 terms). At their 1980s peak, the shares increased to 150 times their offer value; they averaged 80 times offer value for most of the 1990s. The Reed Family retained effective control of the company post-flotation, through the combination of Alec Reed's shareholdings and that of his children. Alec Reed used part of his flotation windfall to found Reed Business School in 1972. The school's original remit was to train accountants, later extended to include training for Reed staff.
Alec Reed later described the flotation of Reed Employment as his greatest mistake in business, citing the administrative and financial burdens of running a public company, claiming: "...you become a metaphorical unpaid greyhound on a racetrack called the stock market." Reed has said that he started his Medicare retail pharmacy business partly to help maintain Reed Employment's stock price during slumps in the wider economy. Medicare was founded in 1973 and sold to Dee Corporation in 1985 for £20 million; Reed used his £5m windfall from the sale to start the Reed Foundation, which still owns 18% of the Group's shares.
1972–1983 In 1972 turnover doubled to £10m, with profits just under £1m, helped by rising demand for temporary workers and by inflation. Profits halved by 1975, partly due to the 1974 oil crisis. Reed expanded into new divisions and set up specialist recruitment firms, including what became known as Reed Health, Reed Finance and Reed Computing, among others. All were established under a holding company (Reed Executive). By 1979 the company had returned to profitability, achieving £3.1m on a turnover of £32m. During the 1970s and 1980s, Reed donated 1% of its pre-tax profit to the Charities Aid Foundation.
Reed also experimented with publishing during this time, including Roundabout magazine, designed to be given away free to young women at Tube stations.
1983–1995 The recession of the early 1980s prompted Reed's first trading loss (£1.64m in 1983) and the closure of agency branches, from 130 to 87. By March 1984 profitability returned, to £1.2m. Reed shares hit their all-time peak in early 1987, reaching £1.80; during this period The Reed Foundation bought back shares, with the Reed family's holding rising to 70% of the company. In 1988 profits increased to £10.54m.
In 1986 Alec Reed was diagnosed with colon cancer and given a 40% chance of survival. He went on to completely recover. In 1992 Reed's son James joined as a non-executive director, becoming operations director in 1994 and chief operations officer in 1995.
1995–2005 In 1995 pre-tax profits reached £8m on a turnover of £150m, up 30% on 1994. Reed launched further specialist divisions in the year, including Reed Learning, Reed Graduate and Reed Managed Services. The firm also began Reed Restart, a not-for-profit enterprise to provide ex-prisoners with rehabilitation and training. In 1999 the firm announced a 40% rise in interim profits.
James Reed became chief executive officer in 1997. During this period the firm became one of the first two private sector companies implementing the Blair government's Welfare-to-Work programme, christened by Labour as "The New Deal".
Paymaster General Geoffrey Robinson contacted Alec Reed in 1997 with a proposal to outsource some of the work of traditional job centres. The project eventually became Reed in Partnership.
2005–present
In 2005 James Reed took the company back into family ownership. In 2008 the company cut 25% of its workforce in the wake of the 2008 financial crisis.
Reed.co.uk Reed.co.uk was the UK's first online recruitment site. The launch version of the site contained few job listings, functioning more as a brochure. A second iteration, launched in 1997, featured job vacancies typed in by Reed's office receptionist in between her other duties.
The first person to obtain a job through the site lived 60 miles away from the hiring company. As Alec Reed later wrote: "That would not have happened had he walked into the local branch, so it opened my eyes to the internet’s potential". Reed extended its investment but, with online recruitment still in its infancy, few companies were interested. In response, Reed employee Paul Rapacioli suggested the company open up the website so that any company - including Reed customers and Reed's direct competitors - could advertise jobs free of charge, converting the site from a walled garden into an aggregator. Alec Reed later cited the move as the company's "breakthrough" online. The new site was launched in 2000 and by the end of that year had attracted 42,000 vacancies. Rapacioli received a £100,000 bonus for his suggestion. In 2007 the site moved to a fee-paying model. Reed sites collectively received 199 million visits in 2017; as of 2019 it hosts approximately 250,000 job applications per day. Advertising and sponsorship
Short Film Competition In September 2009, Reed launched its annual Short Film Competition with a top prize of £10,000. The competition, run via YouTube, invites filmmakers to submit a short film of no more than three minutes in length centred around a specific theme. Partners include BAFTA, Channel Four, the British Council, Total Film and Creative England. The judging panel has included Jaime Winstone, Eugene Simon, Stuart Cosgrove, Roger Chapman, Paul Weiland and Nicola Reed.
Love Mondays campaign The company's TV and online advertising is presented under the Love Mondays slogan, which aims to change the way employees perceive the start of a new workweek after the weekend. Reed seeks to encourage employees to look forward to Mondays and see them as an opportunity to kick-start their career goals. The campaign features the creation and sharing of content on social media platforms with the hashtag #LoveMondays. Campaign content includes motivational quotes, career tips, and success stories, and often features James Reed. From 2008 to 2018 the company ran a nationwide advertising campaign fronted by actor and comedian Rufus Jones, who played James Reed as a caricature of a comic book superhero.
Sponsorships and social initiatives Reed is a signatory to the Armed Forces Covenant, in support of current and former service personnel in their transition away from the military. The firm also sponsors TfL's Art on the Underground scheme.
COVID-19 response and Keep Britain Working During the COVID-19 pandemic Reed relaunched the Keep Britain Working campaign, originally launched after the 2008 financial crisis. Alongside 26 other businesses and industry figures, such as Sir Alan Sugar, Lord Bamford, Luke Johnson and James Timpson, Reed called upon CEOs to protect jobs by sacrificing management salaries and company profits; Reed declined his own salary from the family business during the pandemic. For its various COVID relief efforts, the company received Management Today's 2021 Special Recognition Award.
Controversy In 2002, shares in the Reed Health Group (which had been demerged from the parent company in 2001) fell 25% after the surprise firing of the chief executive and finance director of Reed Health, a company demerged from the wider Reed Group in 2001.