Employment & Business In The Netherlands
Coined as the “gateway to Europe,” the Netherlands is one of the best countries for employment and setting up businesses.
There are several reasons why this is the case. First is their location. Situated with other economic powerhouses, they have easy access to other countries. Thus, businesses can flourish in other nations, not only in the Netherlands; the United Kingdom, Germany, and France are some of them.
Moreover, the country favors foreign investments with its Dutch taxation system. If you plan to not only start a business here but also live in the country, they also boast great housing benefits and allowances.
In terms of economy, they are one of the most technologically advanced countries due to their constant innovation in different work sectors.
These are only some characteristics the Netherlands can offer to individuals wanting to set up a company in the nation. With setting up a company comes the use of the local workforce. Thus, we will look at the current employment trends in the country.
One of the best benefits of remote hiring is your capability to hire anyone from any location. With the traditional setup of in-office, you are bound to applicants going to your offices, hindering a vast talent pool too far away to work for your business.
Even before the lockdown, the Netherlands already had a remote work system for its workers. With 14.1% of the total population having some form of working at their home in the year 2019. The coronavirus only made the percentage of remote workers larger than ever before.
Even if work from home is a concept that will stay for a long time, a large portion has shifted back to returning to the office. Some of these portions have an entirely on-site format, negating hybrid remote work.
During the first quarter of 2022, the Netherlands has seen a decline in unemployment. An average of about 13,000 individuals a month have successfully found occupations. Therefore, when you set up a business, it will be a bit more challenging to entice workers to drop their current company for yours.
That is why some companies have resorted to hiring from abroad to tackle the low rate of worker applications.
There has also been an increase in vacancies for sectors such as the food and transportation industry. Hence, extensive research is needed to gain new employees if your company is within these sectors.
As a top-ranking country in technology, the nation has seen a tremendous boost, especially in the financial technology sector.
With the rise of cryptocurrency and other online payment systems, companies have flocked to the FinTech industry, which increased the total investment from $9 billion in 2010 to a whopping $215.4 billion in 2019.
A massive concentration of the FinTech industry is located in the Amsterdam-Startup Delta. The Delta comprises Amsterdam, the Hague, and Eindhoven. Not only does Fintech flourishes here but also in other tech sectors, which attracted other international tech companies such as IBM, Tesla, and AWS.
With the Netherlands relying on seasonal workers and job vacancies increasing, the need for more of them has become more noticeable. The government, therefore, has been reviewing steps for seasonal workers to have better experiences and avoid exploitation, which encourages more people to work in the country.
One of these steps is licenses for staffing agencies to combat unlicensed companies and fine any establishment that works with these illegal agencies.
The Dutch government is reviewing the national minimum wage. The increase factors the rise of inflation to improve the citizen’s purchasing power, especially for individuals with lower incomes.
Setting up a business in the Netherland can have tremendous benefits for your company. Trends in this year tell a story of a much more difficult time. Nonetheless, it also shows potential growth with the right strategies to combat the current business climate of the country.
Global People is a leading local employment solutions provider for national and international corporations and can advise and escort you in your next destination.
