Ogunsen is a staffing and recruitment company focused on providing mainly specialists and managers to companies in Finance, IT, HR and Supply Chain. In general, Ogunsen has a larger share of recruitment than traditional staffing companies. It was founded by Per Ogunro in 1993 with the aim of finding employment for bankers in the Swedish bank crisis. Many of Ogunsen’s recruiters and sales personnel have experience in their respective focus areas.
Like other staffing companies, the business model is capital light and growth can be generated without the need for large investments. For the same reason the model results in strong cash flows and high payout ratios, meaning room for good dividends. Ogunsen has shown growth for several years with stable margins. It has found a recipe for success in the larger cities of Sweden and is now expanding to new locations, which will support further growth. In addition, it focuses on staffing specialists, making it more protected against the structural decline of simple work that is becoming automated.
Staffing companies are in general contracted as a flexible part of a company’s workforce. Their services are therefore attractive when the economy is expanding and the quick addition of labour is needed for businesses to meet customer demand. Therefore, Ogunsen is naturally sensitive to changes in the business cycle.