A Lyon-based startup, Huggy, has launched a “Circular Recruitment Circle” dedicated to the banking and insurance sectors, partnering with BNP Paribas and Groupe APICIL. The initiative aims to facilitate talent circulation between employers facing similar skill needs, addressing a significant challenge in a competitive labor market.
Huggy’s “circular recruitment” model, launched in June 2023, operates on a recommendation-based system between companies. The core principle involves sharing candidate profiles who were not selected for a position to help them find opportunities within other organizations. According to Huggy, over 2,000 employers, including JCDecaux, Babolat, CNR, and Framatome, are already participating in this network.
The launch of the Circle comes as the banking and insurance industries undergo significant transformation. Automation driven by artificial intelligence, evolving regulations, and shifting societal expectations are prompting companies to reassess their organizational structures and recruitment strategies. These sectors are particularly focused on securing expertise in areas like cybersecurity, actuarial science, and compliance.
Data from the Fédération Bancaire Française indicates that 38,600 people were hired in the banking sector in 2024. The Observatoire des Métiers de l’Assurance reported 20,100 recruitments within the insurance industry during the same period. However, these hiring volumes are accompanied by a substantial number of applications, with Huggy reporting that 97.8% of applications are ultimately rejected, creating both human and organizational costs for companies.
The Circular Recruitment Circle functions through cooperation among companies within the same sector. Members share profiles of unsuccessful or departing employees on the Huggy platform, allowing other participating companies to access pre-qualified candidates and accelerate their own hiring processes. Companies participating in the initiative receive a “Recruitment Circular” label and monthly attestations to demonstrate their commitment to social responsibility and employability.
Founded in 2023 by Lyon-based entrepreneur Baptiste Privé, Huggy focuses on cross-company profile recommendations. The company is currently self-funded and employs nine people. Since 2024, Juliette Jarry, former Vice-President of the Auvergne-Rhône-Alpes Region delegated to digital affairs and a business leader, has served as the company’s Director General.
Huggy’s long-term ambition is to establish a national framework for candidate revaluation through the creation of sector-specific and regional Circles, fostering collaboration among employers in recruitment practices.
