Randstad operates in an industry with enormous structural growth potential. In this section, we explain the growth drivers for our industry, key developments in our markets and important differentials between markets. In combination, these form the foundations of our strategy and the manner in which we create value for our stakeholders.
HR services represent one of the world’s fastest-growing industries, with a global market worth around € 300 billion. Yet in many major economies, staffing and other HR services are still in development. As the world’s no. 2 HR services company, we are a global leader in our industry and see it as our responsibility to take an active role in developing the industry in the long term. Changing labor market trends and customer needs, including an aging population, shifting surpluses and shortages, and increased flexibility, require the development of new solutions. By finding the right balance between the changing needs of employers and employees, we will bring supply and demand closer together. In short, we see it as our mission to take the lead in shaping the world of work.
The world’s HR services industry is divided roughly into three main segments: staffing, professionals and executive search. Randstad is primarily active in the first two of these. The global Staffing market is worth an estimated € 205 billion, and accounts for around 80% of our revenue. Staffing focuses predominantly on recruiting blue-collar and white-collar workers with at least secondary education or equivalent for temporary or permanent placements. This segment also includes Inhouse Services (18% of our revenue), which provides on-site workforce solutions, and HR Solutions (around 6% of revenue). Through the latter, we offer other HR services, such as Recruitment Process Outsourcing (RPO), Managed Services Programs (MSP), payroll services and outplacement. The Professionals market is worth around € 85 billion globally, and accounts for around 20% of our revenue. This segment includes permanent and temporary placement of qualified professionals and candidates with a university or equivalent education. Many candidates have previous work experience, and seek positions that are intellectually challenging.