HR-focused management consultancy Korn Ferry generated $680.8 million in fee income from client projects during its fiscal third quarter.

That represents a 4% improvement from a year ago when measured on a constant currency basis.

“Korn Ferry is incredibly well-positioned as clients continue to navigate an economy in transition,” commented Korn Ferry CEO Gary Burnison. “We will continue to prioritize faster growing, larger addressable, less cyclical markets that set up our firm and our clients for success.”

Korn Ferry employs 11,000 people in over 50 countries worldwide. Compared with other large management consultancies, the firm has a fairly narrow focus: it makes most of its revenue from advising companies on workforce management topics.

Recruiting services accounted for 48% of the $680.8 million in fee income Korn Ferry generated during its third quarter, which ended on January 31. Executive search services contributed 31%, while the remaining 17% came from projects that involved helping companies find non-executive employees and interim staffers.

Korn Ferry is also active in many other parts of the workspace management consulting market.

Companies can hire Korn Ferry to advise them on how to distribute work tasks among employees in a way that maximizes productivity. The firm can also help a company plan its employee compensation strategy, as well as develop career advancement opportunities for staffers.

Korn Ferry offers its core consulting services alongside a growing array of technology offerings. Those offerings, some of which are software products sourced from external suppliers, can assist firms with tasks such as creating employee training programs.

Korn Ferry’s technology-enabled solutions constitute an increasingly important pillar of its revenue base. The firm said that digital offerings accounted for 13% of its fee income during the third quarter.

After deducing payroll costs and other business expenses, Korn Ferry’s adjusted net income in the third quarter worked out to $53 million. The consultancy’s adjusted diluted earnings per share reached $1.01.

There are two business developments that stood out for investors in Korn Ferry’s fiscal third quarter. The firm issued a dividend of $0.15 per share, which investors are scheduled receive on April 15, and it acquired a Minneapolis-based recruiting agency to expand its talent acquisition business. 

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