Talent Monitor: Extreme labour market tightness
Talent Monitor: Extreme labour market tightness
At present, Total Talent Management (TTM) and labour market tightness seem to go hand in hand. So after focusing on TTM in the first issue of the Talent Monitor, we thought we might as well focus on labour market tightness in the second issue. In this issue, we provide an in-depth analysis of this trend, as well as unique insights based on Intelligence Group’s recruitment data and HeadFirst Group’s hiring data.
For the first time in history, the flexible work market is extremely tight.
For quite a while, organisations were fortunate in that they could fill any vacancies for staff on permanent contracts with temporary, external workers. That time is over now. The flexible work market, like the rest of the labour market, is subject to pervasive tightness. Read the entire press release here
The fees commanded by self-employed persons without employees are rising, even though inflation is at its highest point.
While inflation rates in the Netherlands are at a 20-year high, a sharp distinction can be observed in the wages earned by employees on a contract and the fees charged by self-employed persons without employees. This latter group can significantly raise their fees, while the wages paid to employees on a contract as specified in the applicable collective labour agreements are lagging behind the development of prices.
Key findings
- The percentage of self-employed persons without employees actively looking for an assignment was 26% and 30% in the two most recent quarters, which means that nearly three-quarters of freelancers were not looking for a new assignment or were only doing so casually.
- Assignments for highly educated professionals currently receive five times fewer responses.
- In Quarter 2, 71% of highly educated and 58% of less educated self-employed persons without employees had fewer assignments than usual because of the pandemic, but these percentages dropped to 27% (highly educated) and 47% (less educated) in the third quarter of 2021.
- Talent sourcers are contacting a record number of self-employed persons for new assignments: nearly 7 in 10 self-employed persons without employees are currently contacted for an assignment at least once per quarter.
- The fees of highly educated self-employed persons without employees are rising by 3.5 to 7% each year. Fee rates seem to be rising faster and faster, particularly in recent quarters.
- Secondment agencies are responding by recruiting new staff: 47% increase in the number of vacancies advertised between Q3 2020 and Q3 2021.
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Headfirst group secures €75 million investment from kartesia
HeadFirst Group (“HeadFirst”), the leading technology enabled HR sourcing platform for employing professionals, announces it has secured an initial EUR 75 million investment from Kartesia. The transaction will include the European investment fund acquiring a minority stake in HeadFirst Group, which provides HR services for more than ten thousand professionals at hundreds of clients every day.
The flex market is expanding and for intermediaries and managed service providers, a sector in which HeadFirst Group is a major player, it is growing fast. The company is active with its platform solutions in the Netherlands, Belgium, Luxembourg, Scandinavia, Poland and Switzerland and sees opportunities to add clients in other European countries as well. CEO Han Kolff of HeadFirst Group said: “The support of a strong financial partner like Kartesia helps to accelerate our growth strategy, both within the Netherlands and across Europe. The focus is on expanding HeadFirst’s role as a full-service HR services provider, innovating with smart online solutions and adding value for our clients with rich data.”
In Kartesia, HeadFirst has found a partner that suits the company and its entrepreneurial culture. Kartesia is a leading provider of capital solutions for mid-market companies in Europe. Recently, Kartesia has invested in a number of technology-enabled business services companies including, among others Sewan, the French market leader in digital telephony, Richardson Sales Performance, the global leader in sales training and performance improvement and Main Energie, a supplier of innovative energy supply solutions focused on SMEs across the Netherlands.
Jean Diercxsens, Director at Kartesia, added: “HeadFirst is one of the leading players in the HR services market in the Benelux, offering innovative, value-added solutions for its extensive client, supplier and freelance base. The group has a proven track record of both organic and external growth, gaining market share through technology-enabled services in a competitive environment. We look forward to working closely with the team to continue to unlock the company’s potential across Europe.”
About HeadFirst Group
HeadFirst Group is market leader in the Benelux in the field of professional organization of external hiring. The Company offers a variety of flex solutions, including contracting, matchmaking, msp-services and business consultancy. Daily, more than ten thousand professionals work for over 350 clients in Europe, with which HeadFirst Group realizes an annual turnover of more than €1bn. HeadFirst Group’s main brands are intermediaries HeadFirst and Myler and managed service provider Staffing Management Services.
About Kartesia
Kartesia is a pan-European, independent and privately-owned specialist provider of credit and capital solutions. They are focused on offering customised resources across the capital structure to leading mid-market companies from a wide range of industries, with the view to accelerate their pace of growth. Kartesia manages over €2.5bn in assets and is operated by a team of 50 experienced professionals across investment and operating teams led by its four founding Managing Partners. The group has offices in Brussels, Frankfurt, London, Luxembourg, Madrid, Munich and Paris.
For further information
Do you have any questions or comments regarding this press release? Do you have any questions or comments about this press release? Please contact Bart van der Geest, manager marketing & communication at HeadFirst Group, at +31 (0)23 – 568 56 30 or bart.vandergeest@headfirst.nl.