Human Capital Group

What Human Capital Group does

Human Capital Group (legal entity Human Capital Group HCG AB) is a Sweden-based professional services firm specializing in executive search, manager and specialist recruitment, interim management/consulting, and assessment services. The company serves Swedish public-sector organizations — including national agencies (Kammarkollegiet, Sveriges Riksbank, Migrationsverket, Kriminalvården, Regeringskansliet, SKR) and municipalities (Göteborgs stad, Botkyrka, Helsingborg, Hylte) — alongside private-sector clients in banking, insurance, e-commerce, real estate, energy, and consulting (Länsförsäkringar, Svedea, Tradera, Vinge, OX2, Higab). Service delivery is anchored by licensed psychologists conducting personbedömning, second-opinion reviews, security-vetted risk assessments, and leadership development programs (including the research-based Funktionellt Ledarskap curriculum built on University of Gothenburg research).

The business operates four product lines through a unified brand following the autumn 2025 consolidation of four legacy firms (Socionomuthyrning, Source Executive, Qsearch, and pre-existing Human Capital) into one operational structure: Executive Search (retained C-suite and senior leadership placements), Chefs- & Specialistrekrytering (mid-management and specialist recruitment across eight verticals), Interim & Konsult (temporary managers and consultants for HR, finance, security, management, and social-worker disciplines), and Assessment & Leadership Services (psychologist-led evaluations, security assessments, leadership training, and a recently added Wage Transparency workshop addressing the EU lönedirektiv). There is no proprietary technology platform; sourcing relies on consultant networks, framework-agreement procurement channels, and a recently launched Rekryteringsplattform for inbound candidate registration.

Revenue is generated entirely through professional services fees: retained or project-based executive search fees, recruiting fees for permanent placements, and day-rate billing for interim consulting engagements. The go-to-market is direct enterprise field sales — relationship-led and largely mediated through public-sector framework agreements (ramavtal) and senior-consultant outreach. Pricing is quote-driven and not publicly disclosed. Headcount is 11-50, headquarters is in Stockholm with a regional presence in Göteborg, and the legal entity is wholly owned by NGS Group, a Nordic executive-search conglomerate listed on NGM Nordic SME. The company was named Branschvinnare 2026 by Affärsvärlden for above-industry revenue and earnings growth in 2025 and was a double finalist at Recruitment Awards 2026.

Name

Human Capital Group

Legal name

Human Capital Group HCG AB

Website

https://humancapital.se

Company type

Private

Founded year

1995

Operating status

Operating

Headcount range

11–50 employees

Short description

Human Capital Group is a Sweden-based professional services firm offering executive search, specialist recruitment, interim consulting, and licensed-psychologist-led assessment services primarily to Swedish public-sector bodies, financial services, and selected private enterprises, consolidated under the Human Capital brand since autumn 2025.

Ownership category

akta.pro rank

Product category

Executive Search & Recruitment Services

NAICS

Executive Search Services (561312), Employment Placement Agencies and Executive Search Services (56131)

akta.pro primary industry

Human Capital & Workforce Transformation Consulting (BPAHACAE)

akta.pro secondary industries

Public Sector, Education & Nonprofit Leadership Search (BPACAAAI), People Analytics, Assessment & Psychometrics Consulting (BPAHAGAH), Leadership Development & Executive Coaching (BPAHAGAD)

Keywords

• Executive search services
• Recruitment services
• Interim management consulting
• Leadership assessment services
• Talent acquisition consulting

Headquarters

HQ city

Stockholm

HQ country

Sweden

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Others

Revenue model

1. Executive Search Services: Retained executive search engagements for C-suite and senior leadership positions across public and private sectors. Process includes comprehensive search, candidate assessment, and placement services.
2. Recruitment Services: Fee-based recruitment of managers and specialists for organizations. Includes needs analysis, search, screening, and placement services.
3. Interim & Consulting: Placement of interim managers and specialized consultants for temporary assignments. Revenue generated through consultant fees during assignment periods.
4. Assessment & Leadership Services: Psychological assessment services, leadership development programs, and executive coaching. Includes second opinion services and competency evaluations.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

Human Capital Group is a Swedish recruitment and human capital services firm providing executive search, manager and specialist recruitment, interim management placement, and psychological/leadership assessment services. The firm serves Swedish public sector organizations (government agencies, municipalities, regions) and private sector companies across banking, finance, insurance, real estate, energy, and technology, delivering retained search, contingent recruitment, interim consulting, and licensed-psychologist-led assessment engagements.

Product overview

Human Capital Group operates as a unified recruitment and human capital services company formed in fall 2025 through the merger of four specialized firms (Socionomuthyrning, Source Executive, Qsearch, and Human Capital). The company offers an integrated portfolio of four core services: Executive Search for C-suite and board-level positions, Chefs- & Specialistrekrytering for middle management and specialist roles, Interim & Konsult for temporary staffing and consulting needs, and Assessment & Leadership Services for psychological evaluation and leadership development. These services are complemented by specialized modules including functional leadership training programs and wage transparency workshops. The company primarily serves Swedish public and private sector organizations, with particular expertise in government, healthcare, finance, and technology sectors.

Differentiator

Problem solved

Functional benefit

Products and services

• Executive Search Retained recruitment service for executive-level positions including CEOs, board members, and top management. Features a discreet search process with 25 years of experience, customized strategies, and methods to identify passive candidates. Target buyers are Swedish public sector organizations and private sector companies across banking, finance, insurance, real estate, energy, technology, security, and services.
• Chefs- & Specialistrekrytering (Manager & Specialist Recruitment) Fee-based recruitment service for managers and specialists across multiple disciplines (banking & finance, accounting, insurance, HR & Talent Acquisition, marketing & communications, public sector, security, technology/IT/engineering). Includes needs mapping, candidate identification through precise processes, and access to Human Capital's network for private and public sector placements.
• Interim & Konsult (Interim & Consulting) Interim management and consulting service placing experienced and specialized consultants for urgent needs across banking & finance, accounting, insurance, HR & Talent Acquisition, management, marketing & communications, social work (socionomer), and public sector. Precise matching through quality-assured processes and Human Capital's network.
• Assessment & Leadership Services In-depth person assessments conducted by licensed psychologists (legitimerade psykologer) focusing on process, competence, and experience, plus security and risk assessments to identify and manage human risk factors for organizational hiring decisions. Sub-areas include leadership and group development, personnel security and risk assessments, personbedömning and second opinion. For public- and private-sector hiring organizations.
• Funktionellt Ledarskap (Functional Leadership Training Program) Standalone research-based training program of six sessions for leadership development, based on research from the University of Gothenburg. Designed to improve managers' leadership behaviors and create positive work environments through practical behavior training. Trained and delivered by licensed psychologists at Human Capital.
• Workshop Löntransparens (Wage Transparency Workshop) Standalone consultation service preparing Swedish organizations for the EU's wage transparency directive. Includes current-state analysis, education, objective review of salary structures, and a summary report with recommendations. Offered by Human Capital's senior consultants.

Named customers15 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Eight partnerships are on record, tiered core and minor.

• KammarkollegietcoreOthersFramework agreement for recruitment services including second opinion and executive search of managers and specialists throughout Sweden. Kammarkollegiet is a central government agency responsible for procurement and legal services for public sector entities.
• Sveriges Kommuner och Regioner (SKR)coreOthersFramework agreement for recruitment of managers and specialists, including positions such as chief economist, director of care and welfare, and director of growth and urban development.
• RegeringskanslietcoreOthersEngagement for second opinion services for agency heads, providing independent assessment of candidates for senior government positions.
• MigrationsverketminorOthersFramework agreement for recruitment of managers and in-depth personnel assessment, including positions such as section manager in Malmö and unit manager for the facility in Flen.
• Region HallandminorOthersRecruitment and second opinion services, including positions such as regional director, HR manager for Halland Hospital, and HR Director for Region Halland.
• NGS GroupcoreStrategic or Co-development PartnerParent company and strategic partner. NGS Group is a leading Nordic group within executive search, recruitment, interim and staffing. Human Capital operates as a subsidiary brand under NGS Group's umbrella, sharing resources, brand, and strategic direction.
• Göteborgs stadcoreOthersLong-standing partnership for executive recruitment including placements such as HR and communications director, CEO Göteborgs Hamn, CEO Liseberg, and Chief Digital Officer. Also serves surrounding municipalities including Kungsbacka, Kungälv, Orust, Partille, Stenungsund, Tjörn, and Öckerö.
• KriminalvårdenminorOthersExecutive search within roles including HR director, IT director, and several HR managers and unit managers. Also supported Kriminalvården with selection work for their executive development program.

Scale indicators3 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Pedersen & Partners: International executive search firm with operations across the Nordics and Central / Eastern Europe, with a strong industrial, tech, and professional services focus. Direct peer competing for senior management and specialist mandates that overlap with HCG's Tech/IT and industrial vertical work.
• Stanton Chase: International mid-market executive search firm with Nordic offices serving similar client profiles (mid-cap to large enterprises, financial services, public sector). Direct mid-sized peer competing for comparable search engagements in Sweden, with similar sector specialization approach.
• Amrop: Global executive search partnership with strong European and Nordic footprint and a board/interim leadership practice. Direct peer at similar size and positioning, focused on executive search and leadership advisory for similar buyer profiles to HCG's public and private clients.
• Mercuri Urval: Swedish-founded global executive search and talent advisory firm headquartered in Stockholm with deep public sector and private sector reach across the Nordics. Most directly comparable peer to Human Capital given shared Nordic heritage, executive search focus, assessment-led methodology, and similar target buyer profile.
• Signium: Mid-sized international executive search firm with roots in Europe and strong Nordic / DACH coverage, serving private equity, financial services, and public sector clients. Closely comparable mid-sized competitor chasing many of the same C-suite and board mandates as Human Capital, with similar assessment-led value proposition.
• Transearch International: Global executive search organization with long-standing presence in Sweden through partner firms, serving similar executive and board-level mandates. Comparable mid-sized international peer for senior leadership searches across the Nordics and Europe.

Broad incumbents

• Korn Ferry: Global executive search and organizational consulting firm with established Stockholm operations serving Swedish enterprises and public sector. Comparable as a broad incumbent offering overlapping executive search, leadership assessment, and workforce advisory services, though portfolio is far wider than HCG's specialist niche.
• Egon Zehnder: One of the largest global executive search and leadership advisory firms, with a Nordic presence and a methodology strongly anchored in assessment and leadership evaluation. Comparable as a broad incumbent overlapping HCG's executive search and assessment services; competes for the same C-suite mandates in Sweden.
• Heidrick & Struggles: Global executive search firm with broad Nordic presence and full lifecycle leadership services including assessment, coaching, and on-demand talent. Comparable broad incumbent that bids for the same Swedish C-suite mandates HCG serves, but with a much wider geographic and service footprint.
• Spencer Stuart: Global executive search and board advisory firm with a Stockholm office serving Swedish corporates and public institutions. Comparable broad incumbent focusing on CEO, board, and senior leadership searches in the same Swedish market, with a deeper but narrower specialty than HCG.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/human-capital-se

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Subsidiaries4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Human Capital Group