Talent Monitor: Rate development professionals 2023
At the end of 2021, in cooperation with Intelligence Group, we took a major, unique step by issuing a prognose forecast of rate trends for professionals - self-employed and employed by secondment agencies - for 2022. For this, a total of 114 professional groups went under the microscope. We also released an interim update on the forecasts made for the middle of this year. But the forecasting model is broken. Why? The most important parameters 'inflation' and 'scarcity development' have gone beyond all outliers of the model. Inflation is so high that it is almost equal to the accumulated inflation of the past decade. Because of this scarcity, economic models such as the business cycle clock, for example, are also stepping outside the banks of logic.
Thus, where we had counted on an annual tradition, our experience with the correctness of the forecasts and the only increasing amount of data we can draw from, shows too big a difference between theory and practice. So we are not ashamed that our forecasting model, is not working (for now) and we have therefore chosen not to bring the same rate forecast for 2023 as last year. In this edition of the Talent Monitor, we look back at rate trends in 2022 and express the necessary expectations for 2023, such as:
- Professionals' rates increased an average of 3.8% in 2022.
- Hourly rates of professionals are expected to increase an average of 4 to 6% in 2023 because:
- Hourly rates follow and keep pace with collective bargaining agreement developments.
- Clients are not taking rigorous steps to index rates of professionals on current assignments. They take a performance-based approach.
- Higher rates are paid on new assignments.
Curious about all the outcomes? Download the Talent Monitor here.
About Talent Monitor
Intelligence Group and HeadFirst Group, of which Striive is part of, provide unique insights on labor market related themes on a quarterly basis, based on Intelligence Group's recruitment and labor market data, combined with HeadFirst Group's hiring data. Both data sources are stored in a structured manner, in accordance with the ISCO standard.
