House of HR grows with 18,8% in challenging 2021

Belgium, Roeselare, March 31st 2022 – House of HR, the leading European HR service provider realised a turnover of €2.2 billion in 2021 while keeping the human touch and entrepreneurial spirit at the core of its business. With strategic acquisitions and a clear vision for the future, House of HR has again realized an amazing result in a difficult period economically. For the HR specialist, 2021 meant a year where its Dutch presence became larger than its already strong Belgian position and the most significant growth was to be found in the segment of Engineering & Consulting. The expected growth for 2022 looks very promising.

Courageously ambitious

House of HR managed to become a leading international HR service provider and to further strengthen its position during a harsh pandemic period. In 2021, House of HR climbed from 24th to 22nd position on the global staffing list SIA (Staffing Industry Analysts). The group is focused on Specialized Talent Solutions and Engineering & Consulting. The importance of the segment Engineering & Consulting is increasing and is responsible for 35% of revenue whereas the segment Specialized Talent Solutions is good for 65% in revenue.

The entire group consists of 10 PowerHouses responsible for over 40 Boutique brands, close to 4,300 HR professionals, providing on a monthly basis approximately 60,000 people with a job at clients. In 2021, it realised a growth of 18.8% compared to 2020 with a turnover of €2.2 billion and EBITDA of €262.7 million. With clear, strategic choices House of HR is realising its growth ambitions and made 6 acquisitions in 2021 (*). As a result, the turnover in the Netherlands (40%) has become larger than Belgium (31%), with Germany (22%) being the third largest market for the group in 2021. Furthermore, House of HR already made 3 important acquisitions in 2022 (TMI in the Netherlands in Healthcare, SOLCOM in Germany in IT and Atrium in Belgium in education).

Rika Coppens, CEO House of HR: “During 2020 and 2021, we have continued to stay true to our strategy of being a specialist HR Service Provider. This strategy has led to our ability to make key acquisitions in very stable and future-proof areas, such as Healthcare and IT. We want to be Europe’s most exciting Talent PowerHouse connecting people to possibilities, shaping the world of tomorrow.”

Andres Cano, CFO House of HR: “We are really proud of all our achievements in 2021 and the strong results and recovery we are able to present. Our decentralized structure has resulted in all our Powerhouses and Boutiques doing an incredible job.”

Frontrunner in digital solutions

House of HR is already known today as the frontrunner when it comes to digital solutions. For many years, lots of pioneering technologies saw the light within the House of HR Group by investing in innovative digital solutions with apps such as NOWJOBS, SWOP, Book’U and Gighouse. Those solutions add a significant value to customers and candidates. In 2021, the House of HR Group decided to go one step further by concentrating all its digital assets in House of Invest, in order to combine all digital knowledge and expertise in one safe haven, leading to even more innovation and digital expertise. This way, the Group is further investing in its digital roadmap and internationalizing its digital solutions.

Concentrating the digital solutions allows the 40+ House of HR brands to benefit from all the latest innovations. In 2021, some of the existing digital innovations have increased in importance within House of HR. One of those is SWOP Recruiter, a free digital platform that helps Belgian SMEs with the day-to-day management of their vacancies. In 2021, SWOP Recruiter was launched as the B2B platform in support of  the SWOP app, which was launched in 2016. SWOP has become the largest Belgian app that helps job seekers swipe their way to a new permanent job. Additionally, SWOP will enter the Dutch market in 2022.

Decentralized Group structure allowing entrepreneurial spirit

Over the last 2 years, House of HR has performed as one of the ‘best in class’ in Europe within the HR world. Thanks to its decentralised group structure that allows entrepreneurial spirit, the 40+ House of HR Boutique brands are capable of acting quickly and locally because the decision lines are very short.

Rika Coppens, CEO House of HR: “Having decentralisation and entrepreneurial spirit in our DNA is a strength allowing us to act fast locally when needed, to diversify in different regions and industries while making available all our digital innovations to the +40 brands in the group. This way, our almost 4,300 Happy Rebels can support and advise our clients and candidates when they face challenges like: the talent crunch, happiness and well-being at work, and Life Long learning.”

(*) Acquisitions in 2021: Solyne, Cohedron, Bureau Brug and Vanberkel Professionals in The Netherlands, avanti in Germany and Greenworking in France. Additionally, the merger between TIMEPARTNER and Zaquensis, which became one brand: TIMEPARTNER.

Discover the Annual Report 2021 on this website: https://annualreport.houseofhr.com/ar2021

End of press release.