Executive Vice President, Chief Financial Officer & Head of Investor Relations, Manpowergroup
Search every verified John Mcginnis interview, podcast appearance, and on-the-record quote — each transcript cross-checked by AI and human review to confirm speaker identity. In a 2011 interview, John McGinnis, then Executive Vice President, Chief Financial Officer, and Head of Investor Relations at ManpowerGroup, appeared alongside CEO Jeff Joerres. Joerres stated that companies were hiring but remained cautious due to insufficient demand for their products and services. He noted that nearly 60% of ManpowerGroup's growth came from manufacturing, with a shift into office administration as a second phase of recovery. Joerres described the available manufacturing jobs as "sophisticated manufacturing" requiring higher-level skills, rather than simple production work. Joerres also commented on government policy, saying that the private sector, not the government, must create jobs. He argued that cutting corporate tax rates without adding to the deficit would be the most effective step the administration could take. Regarding technology, he stated that increased spending on efficiency and productivity allowed companies to "do more with less," leading to record profits without a proportional increase in hiring. He added that green technology would not generate a large number of jobs in the near term.
“Companies are going to hire but they're still going to be very careful because the fact is there's not enough demand for their products or services, but the companies we're talking to not just in the US but across the world minus of course Asia which is growing, they're saying they're going to hire as many as they can...”
“Almost 60% of all of our growth came from manufacturing; we've now just started to see it turn into office administration, which is normally the second phase of the recovery.”
“We have to make sure that we focus on value added manufacturing because that's where the jobs are and can be. It's not manufacturing as we knew it; this is sophisticated manufacturing requiring higher level people like quality assurance engineers and manufacturing engineers.”
“The government can't do it all; it has to come from the private sector. Last year they took a path of creating jobs through incentives, but that's not going to create jobs, it's going to spread some dollars around. Now what's coming out is businesses create jobs; what can we do to unencumber businesses to create jobs?”
“The number one thing the administration could do is cutting corporate tax rates without adding to the deficit. We're now on a worldwide basis highest tied with Japan. It's not just cutting tax rates but also awareness, education, and free trade that matter.”
“The president talked about the importance of two-way trade with China and that tariffs are not the answer. He's also focused on the Green Revolution, but realistically it won't create the volume of jobs we need in the next two to four years.”
“Technology has affected the labor force dramatically. The enhanced technology spend is all going towards efficiency and productivity, being able to do more with less. Companies have reported record profits but don't need to hire to previous levels, so people have to be used differently.”
“Large pharmaceutical companies are taking their R&D expense and letting the world innovate, institutionalizing it. It's a different model and because we're in the middle of that change, it's affecting the labor market dramatically.”
Manpower CEO Jeff Joerres says that green technology won't add a large number of jobs for several years.
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