The human capital management sector will play a major role in the developed world’s future as business, government, and society confront the demographic changes brought about by increasing life spans, declining labor force participation rates, increasing immigration pressures, and the off-shoring of production and service jobs.
The sector is highly fragmented and intensely competitive, with few barriers to entry. Nevertheless, established firms generally enjoy solid cash flows, minimal capital expenditure requirements, and high returns on equity.
Sand Hill Equity Research
Independent, fundamental research focused on the $60B market cap U.S. human resource outsourcing sector:
Healthcare Staffing
Home Health Care
Hospice
Nurse Case Management (Catastrophic Workers' Compensation cases)