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Germany – Finance recruiter sees strong growth

29 May 2013

Specialist staffing firm Krongaard grew revenue by +20% last year as sales reached €18.1 million in 2012. The German recruiter, which specialises in the finance sector, reported an increase in client demand and customer orders although market conditions in the country slowed during the year.

The firm said demand for staff remained high in the banking and regulatory sectors. It is now planning to expand, having grown its business operations last year.

Trading in the year to date has also been favourable, with the recruiter reporting higher-than average growth rates. “More and more companies are seeing an advantage in filling projects with independent experts,” said CEO Jan Jagemann. “This has nothing to do with staffing shortages – specialist external know-how is increasingly valued for the success of a business.”

Krongaard was founded in 2008 and provides specialist staffing services to the financial services sector in Germany. The company supplies temporary professional staff to major listed firms and SMEs, including banks, trade, energy and pharmaceutical companies.

The firm is one of the smaller players in the German staffing market. Randstad and Adecco are the clear leaders, according to research by Staffing Industry Analysts. The German staffing market contracted in 2012, affected not only by labour supply and legal issues but also a slowdown in the wider economy.

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