The Dutch employment agency for young people YoungCapital Group will continue as The Works and will focus on international expansion. The company will continue to roll out existing brands, set up new brands and possibly make acquisitions.
The Works reported this on Tuesday with the announcement of financial results. The parent company behind recruitment agencies and job platforms YoungCapital, YoungCapital NEXT, Jobbird.com and StudentJob was founded in 2000 as StudentenWerk. Founders Hugo de Koning, Bram Bosveld and Rogier Thewessen are still the sole shareholder. The Works currently has 1,300 employees who help about 50,000 people to work at 2,000 different companies every year. The company is active in Germany, Belgium, France, Spain, Austria, the United Kingdom, Ireland, Sweden and Switzerland. “In the coming years we will continue to roll out our existing brands internationally and at the same time we will expand. For example, with Jobbird.com we compete with Indeed, and we want to expand to more countries with this brand,” says Ineke Kooistra, CEO of The Works, in the press release. “We have the ambition to be in the top 5 in Europe by 2025.”
An improving labor market helps The Works
The company will focus on a multi-brand strategy to mediate different target groups. “We will do this by setting up new brands to serve specific markets or by making acquisitions,” says Kooistra.
The Works says the different brands use the same foundation: a network of currently 20 international websites, a database of 7.5 million registered candidates and a digital platform to which apps and websites can be linked.
The company is helped in its ambitions by an improving labor market after a dip in the corona crisis. As sectors reopen, turnover is rising to record highs. According to Kooistra, turnover increased by 33 percent in the first four months of this year.
“We expect this growth to continue for the rest of the year, pushing us to break the EUR 600 million turnover barrier for the first time,” said the CEO. In ten years’ time, The Works’ turnover increased from 68 million euros to half a billion euros, mainly through the mediation of young people and young professionals in the Netherlands and Germany. In 2020, the turnover amounted to 507 million euros compared to 515 million euros a year earlier. According to Kooistra, The Works therefore outperforms the market.