March 2020. Prime minister (DP), like his European and global peers, is closing down his economy. But not completely: cross-border commuters can continue to work in hospitals and supermarkets.

Two and a half years later, when adding in Russia’s invasion of Ukraine, the inflation that followed and its impact on the property sector, one realises that there is no turning back. Instead, Luxembourg must continue to find human resources--the best experts that can possibly be found--in a world that is increasingly global and increasingly hybrid.

The country is so far from being alone in this that more and more companies have made a speciality of being ‘talent providers,’ and on a scale that sends headhunters and recruiters back to prehistory. There are also technologies for managing and training this talent, as well as solutions to ensure that all phases of an employee’s life are brought together in the same application, from identification to tax payment.

Far behind the leader Microsoft, hedge funds are increasingly looking at solution providers in this context, such as Workday, which is the second most invested company, and Automatic Processing Data, according to the Insider Monkey podium. While top companies include industry heavyweights such as Manpower Group, Robert Half and Korn Ferry, other models are emerging, such as “professional employer organisations.” Inspirity manages 240,000 site workers in 9,000 companies, and its position enables it to better negotiate social benefits with trade unions, according to its pitch.

A company to watch

Paycom. The American company Paycom offers “Beti,” which stands for Better Employee Transaction Interface, and is an automated payroll processing system. An initial extract of the data enables employees to correct any errors or advance processes such as reimbursing their expenses, etc. HR retains control and sees the progress of each employee’s payroll.

It’s a revolutionary point of view that for the moment comes on the fringes of Global HCM, which is available in over 180 countries and is available in 15 languages. The company is 25 years old and started out as a payroll manager before gradually extending its range of services. Although its latest results slightly disappointed the market at the beginning of August, its potential is +20% per annum for at least the next five years, say experts, in predictions that should always be taken with a grain of salt. All of this is being driven by multinational organisations, which are finding a point of convergence with the national systems they have been using until now.

This story was first published in French on . It has been translated and edited for Delano. This article is not intended as investment advice. Be sure to carefully investigate any company mentioned in the press before taking an investment decision.