In 1960, when having a permanent job was still considered the ultimate goal in life, Frits Goldschmeding had the tremendous foresight and founded the staffi ng services Randstad. History has proved him right – fl exwork best job has become an indispensable part of our economy. And Randstad has become an extremely successful globally operating company, keeping around 600,000 people in 39 countries employed on a daily basis. Determined, driven and with great power of persuasion, Frits Goldschmeding crystallized his ideas. Careful in the world thinking followed by action. Ideas based on his very consistent philosophy of life, which still forms the soul of Randstad today. Over the years, the world has changed, and the company has grown enormously since the days Goldschmeding was in charge. Still, Randstad’s success remains fi rmly rooted in the founder’s vision and unsurpassed entrepreneurship. This book is about this vision and that entrepreneurship. About the culture that forms the backbone of the company, about rational growth, consistent marketing strategy, adventurous brand development, and about forging a cast-iron reputation. And above all, about how looking after all the interests of all the parties involved in the company forms the basis for creating value. For the company and for society. the best job in the world the ideas and practice of Frits Goldschmeding, founder of Randstad RAN17-01_cover_EN_02.indd 1 22-03-17 14:03 the best job in the world the best job in the world the ideas and practice of Frits Goldschmeding, founder of Randstad foreword As CEO of a growing multinational, I have a tendency to This book therefore explains Frits Goldschmeding’s look ahead. How can we as Randstad continue to make commercial ideas for us and future generations. His vision a difference in our rapidly changing world? Are we ready on entrepeneurship, brand and market and the philosophical for the future? Our world is one of uncertainties where and ethical principles on which he based Randstad still traditional patterns are no longer a guarantee for success provides us all with a benchmark by which to test our in future markets. As a company, you have to be open to choices and decisions. The resulting corporate culture new developments. To continue to be relevant, you have continues to motivate our employees to make the most to reinvent yourself all the time. of their talents. Anyone familiar with the inspiring mental legacy of Goldschmeding will understand the soul of our At the same time, we at Randstad are very aware of our company. past and how that past defined us as a company, now and in the future. Randstad was founded over fifty-five years Obviously, today’s world is very different from the one in ago. Since then, the staffing services set up in 1960 by 1960. Technology, digitization, the rapidly changing labor Frits Goldschmeding and Ger Daleboudt has grown from market, the global economy: we must constantly be aware a small office in a student room in Amsterdam into a global that what we are doing today may not be good enough organization with thousands of subsidiaries in 39 countries tomorrow. Frits Goldschmeding has always known this too. and a turnover of around 19 billion euros. Millions of people Resources and services change and will continue to do so. have found jobs through Randstad and thousands of clients But one thing will always remain the same and is the direct have found personnel. And that success is undoubtedly result of Frits Goldschmeding’s impassioned vision: our thanks to the brilliant entrepreneurship of its founder, fundamental belief that by showing sincere interest and Frits Goldschmeding. confidence, we can help talented people and businesses move forward. It is this belief that guarantees a successful You cannot necessarily formulate your future on the basis future. of that historic fact. Nevertheless, it is important to under- stand how Goldschmeding’s legacy has made our company what it is today. It forms the foundation for Randstad and gives us our virtually invincible and unique position in our core business: connecting clients to the talents they seek and matching job seekers to the companies that need them. Jacques van den Broek | CEO Randstad 8 9 passionate entrepreneurship 11 10 It is a legendary story: how one night in 1960, student Frits Goldschmeding was cycling home with his fellow student Ger Daleboudt and decided to set up a private employment agency. ‘Ger asked me: when? I said: now! Three o’clock in the morning seemed like the perfect time. We went to my room and while he wrote a letter to future ‘ Working hard, doing temps, I wrote one to future clients. And because I had no funds to buy stamps, I went and delivered the letters what you do best and myself. So yes, we were off to a flying start. And at the end doing your utmost to of the first year, we were employing some twenty temps.’ The idea that the future lay in the as yet untapped market be the best’ for temporary employment sprung from Goldschmeding’s graduation thesis. In this thesis, he stated that the current labor market with its rigid organization by the social partners did not meet the growing demand for new types of jobs and evolving work patterns. His conclusion: between 4 and 5 percent of the total labor market should comprise temporary work. the legacy of Frits Goldschmeding 12 13 This was a new approach compared with the current early age, and he never lost it. As he put it: ‘A true ideas about social security and job creation. But when entrepreneur never grows up. He always remains a Frits Goldschmeding actually went ahead and set up his child at heart – a teenager at most. I don’t believe own employment agency, his University Professor read that an entrepreneur will ever become a manager of him a lesson. Because Goldschmeding had been educated a consolidated company with no plans for expansion. as an economist, not as an entrepreneur. Yet he was doing If they do, they were never entrepreneurs at heart. exactly what one of his heroes, the great economist Real entrepreneurs will continue to create business. Joseph Schumpeter, before him believed when he stated They will always be coming up with new ideas.’ that the economy as a whole will advance through So, despite the fact that his employment agency had changes brought about by the implementation of new already grown into an impressive international organization combinations. For Schumpeter, entrepreneurship was and Goldschmeding could have rested on his laurels, key in economic theories. He described the entrepreneur he ‘kept suffering from brain waves’. Goldschmeding: as a person who, through spirit and perseverance, is ‘I kept coming up with new ideas – ten times the number ready and able to turn a new idea or invention into a that could ever be realized. That’s what makes an successful innovation by creating new economic activities entrepreneur tick. You keep spotting opportunities to or by transforming existing ones. improve. You want to achieve things and stand out from the crowd. Development is embedded in our organization’s Entrepreneurism was running through the veins of Frits DNA. I don’t believe in consolidation. It’s also about enjoy- Goldschmeding. It had been a part of him from a very ing achieving things. And that’s exactly what I’ve been the legacy of Frits Goldschmeding 14 15 doing.’ In other words, according to Goldschmeding, entrepreneurship is a way of life. ‘It affects your social life, your economic life, your biorhythm – everything. You have to use everything you’ve got and discard every- thing you don’t need to ultimately achieve your goal.’ In 55 years, Randstad grew from being a tiny office in a slightly hostile environment and with an annual profit of just nine guilders into a global company with tens of thousands of staff, employing hundreds of thousands of flex workers, with turnover of billions and profits running into millions of Euros. That unprecedented success is all down to the passionate and all-embracing entrepreneur- ship of Frits Goldschmeding. He saw opportunities that others didn’t, was convinced that hard work would enable him to put ideas into practice, demonstrated amazing perseverance, was never daunted by the skepticism of others, and always appreciated good suggestions from the people around him. Moreover, he understood that the legacy of Frits Goldschmeding 16 17 success is the result of teamwork. That he had to gather the right talent around him and continue to inspire them day in, day out with his enthusiasm and vision. That his DNA had to become the DNA of the organization. Goldschmeding: ‘Entrepreneurs don’t invent things. They spot something and then use it. You make new combinations of existing possibilities and resources, and start up new processes. I didn’t invent the flexworker. But as an entrepreneur, you’re the one who takes the risk of turning it into a large-scale phenomenon, because you see its potential. You then have to convince others of your vision and inspire them to work hard to achieve it. And in such a way that they have fun too! At the same time it’s vital that they see the result of their efforts. Not just by giving out bonuses – money is never employees’ first priority – but by devoting attention to them and help- ing them experience the importance of their work. So you need to create systems so that even in a large company you can show people that their work is appreciated. the legacy of Frits Goldschmeding 18 19 That ensures the continuity of the relationship.