HR tech service provider grows organically by 20 per cent in 2023

Amsterdam, March 28, 2024 – International HR Tech service provider Circle8Group grew significantly last year. All five of the European companies in Circle8Group grew organically, increasing the 2023 turnover more than 20 per cent to 1.01 billion euros.

Circle8, FixedToday (both in the Netherlands and Belgium), Seven Stars (Netherlands), Königstein (Germany) and Swisslinx (Switzerland) enjoyed strong demand from their existing portfolio of clients. The various Circle8Group companies also won many new clients. More than 12,000 professionals now work for these clients through the companies. IT continues to be a growing market for the company, whilst it has also experienced strong growth in tech and finance. 

Wide range of solutions

The growth in turnover comes from all the services offered by the group companies internationally, such as recruitment/brokerage, contracting, search and selection, payrolling, managed service provision (MSP), staffing, consultancy, and recruitment process outsourcing (RPO). “The results exceed expectations. Offering a wide range of HR Tech solutions for our clients in the IT, tech and finance sectors works and enables strong growth,” says Ineke Kooistra, Circle8Group’s CEO. “Our Total Talent Flow strategy has earned us the loyalty of more professionals and allowed us to deploy their talent on behalf of our clients.”

Continuing growth trajectory

The biggest growth last year derived from recruitment/brokerage, MSP and consultancy. In the coming years, the business also expects these segments to make a substantial contribution to growth. The focus of the Circle8Group companies revolves around recruiting professionals in the more recent subdisciplines of IT/tech, such as AI and automation. Kooistra sees increasing demand in this field and expects it to grow exponentially in the next few years. “We want to continue along our current trajectory of growth in the coming year, meaning we want to realise organic growth of more than 20 percent. For 2025/2026, we’re looking to grow our turnover to more than 2 billion euros.”

Takeovers

Kooistra certainly does not rule out the possibility of acquisitions to speed up growth. “We focus on M&A when it comes to the DACH region, Scandinavia and the United Kingdom, and we’re keeping an eye on the United States,” she explains. Eyes are also on further digitisation and on the candidates themselves. With the use and support of state-of-the-art tech systems, Circle8Group’s way of working will only get smarter, creating more and more opportunity for personal contact with professionals, partners and clients. Kooistra points out: “More and more professionals want to join our community because we have a steady stream of attractive assignments with the best clients.”

About Circle8Group

Circle8Group is an international group of strong brands, which offer full-service HR Tech solutions. The brands each have their own specific culture but share one conviction: we believe that people are the most important asset of every successful organisation, with talent flow essential to growing the business. The companies within the group are not just experts in finding talents and suitable assignments, but also forge connection, create room for growth and facilitate career advancement. With its continuous flow of talent, Total Talent Flow, Circle8Group enables ongoing growth for professionals, partners, staff and clients alike. The group’s brands are Circle 8 (NL & BE), Seven Stars (NL), FixedToday (NL & BE), Königstein (DE) and Swisslinx (CH). With over 12,000 professionals in the IT, technology and finance sectors, the group is realising a turnover of more than one billion euros. Circle8Group is part of the portfolio of Swiss investment firm Axiom Partners. For more information, go to www.circle8group.com.