Timing: 'We are now good for the third position'

Timing Holding is, since the acquisition of InPerson, according to CCO Paul Haarhuis, the number three in the Dutch temporary employment market. "Our visibility is greater. That is already attracting new customers."

Together with the labels Zorgwerk and the in November acquired InPerson, Timing Holding achieved a combined turnover of 717 million euros last year - good for a position as the third general temporary employment agency in the country, states CCO Paul Haarhuis.

How do you claim to hold the third position?

"The calculation is simple. After the acquisition of InPerson last November, our group has a pro forma turnover of 717 million euros. Our financial statement for 2018 has been approved. With that, our group surpasses the turnover of the previous number three [ManpowerGroup, ed.] which reported a shrinkage percentage in the Dutch market."

The broker HeadfirstSourceGroup acquired competitors Myler and Staffing Management Services last year and will head towards a turnover of 900 million euros. Brainnet also rivals Timing. The chance is considerable that they are larger than Timing Holding.

"I do not count the brokers. Also, for a number of our end customers, brokers manage the flexible hiring of candidates. A part of our turnover also comes to us through brokers. Therefore, those parties cannot be compared to general temporary employment agencies. If you count the brokers, you are effectively double-counting the turnovers in our market."

Is the ceiling for Timing Holding now in sight?

“Certainly not. We want to continue our growth steadily. We do this while maintaining our operational stability. Because we have a balanced management team, we can even accelerate growth. We are already noticing an increasing demand. The acquisition has also been a strategic move: by now breaking into the top three, our visibility increases. I am convinced that this attracts new customers. If large clients decide to invite the three largest staffing agencies, we are among them. We are already being approached more often than before the acquisition. And we can deliver, because with the acquisition we also have 225 new employees who are used to working in the same organizational culture.”

InPerson and Timing are both active in the same market segment. What synergy benefits do you think you can still achieve?

“With a larger volume and better coverage, we can optimally utilize the potential of temporary workers. As a result, we will perform better and more efficiently operationally. This should lead to a margin increase, because InPerson has delivered at relatively lower margins than Timing. With the innovative services we have developed at Timing, we expect to deliver more added value to customers. We want to offer planning, pool management, employer branding, and digital techniques to customers more often. This way, we can attract candidates from the market even better. In this market, where the growing shortage of candidates dampens staffing revenues, the most can be earned by accelerating recruitment and selection.”

For many acquisitions in the temporary employment market, one plus one is less than two. How do you want to integrate InPerson?

“The chance that this acquisition will yield more than two for our dual organization is high. We keep the culture intact and we tamper as little as possible with the composition of the team. The integration must be completed by January 2020. The most important merger is the choice for one uniform software system. Timing has always worked with Pivoton and switched to MySolution last year. InPerson will now make the same move.”

Does the new market position also require new leadership at Timing Holding?

“A leadership change, like what happened with our competitors last year? Parent company Asito Dienstengroep is a family business that values stability very much. The trust of a family business gives us a longer breath. And therefore the space for continuous agility in changing market conditions.”

Source: Flexmarkt magazine April 2019, by Wilbert Geijtenbeek.