Talent Monitor: Rate development professionals 2024

We are balancing between economic contraction and growth, the first 2024 Talent Monitor shows. After months of decline, we did see a modest rebound in our economy in the last quarter of 2023. Thus, the unemployment rate remains very low and more workers are entering the labor market. However, labor market tightness still remains.

There are also changes and dynamics in the flex market. For this annual Talent Monitor, we looked at rates and - despite once again challenging market conditions such as inflation and “higher” market interest rates - again forecast 2024.

This report takes you through the recent data, on the way to rate development for 2024: three potential scenarios, one of which is considered the most realistic. Some interesting insights that emerged:

• After three quarters of contraction in the Dutch economy, the fourth quarter of 2023 shows a slight increase of 0.3% compared to the third quarter. Compared to 2022, however, there is still a decline of 0.5%.
• Several signs point to some relief in labor market scarcity. Demand for personnel is decreasing slightly and supply seems to be increasing slightly.
• Compared to a year ago, labor market activity among self-employed workers shows a slight increase from 20.1 to 21.7% in the fourth quarter of 2023, compared to the same quarter in 2022.
• There is a sharp increase in the average number of offers per job. By the end of 2023, this number was almost at the same level as during the peak in the second quarter of 2020.
• The number of self-employed people wanting to be employed (back) increased slightly. At 11.6%, it is still far behind the percentage in 2021, when it was 17.0%. In addition, just 13.0% of employees indicate that they would like to work as self-employed (again).
• Sourcing pressure remains unchanged: on average, self-employed people are approached about 18 times a year for an assignment. More than six in ten are approached at least once a quarter.
• Data from HeadFirst Group shows that the rates of flexible workers - self-employed and professionals employed by secondment companies - who started a new assignment in 2023 increased by an average of 4.3% compared to 2022.

Curious about all the insights? Download the Talent Monitor here.

About Talent Monitor

Intelligence Group and HeadFirst Group, of which Striive is a part, make available unique insights on labor market related themes every quarter 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 way, in accordance with the ISCO standard.