21 September 2020
Despite the uncertainty caused by COVID-19, the European leader in Human Capital Management posts 22% growth in the first half of the year
Nothing about 2020 has gone according to plan. As we’ve all learned first-hand, the COVID-19 pandemic has rattled many of our basic business foundations to their very core. All businesses across all sectors have been affected by this health and economic crisis in some way—and they’ve all had to adapt quickly to what seems to be an ever-changing business environment.
Even if things get “back to normal” in the near future, it’s highly likely that the world of tomorrow will be a far cry from what it was pre-pandemic. Many of our customers have reiterated this, and all signs are telling us that the concept of the distributed workforce—where employees work remotely from home or other coworking spaces—will be a big part of how businesses operate moving forward.
We practice what we preach
The COVID-19 pandemic has, therefore, been a wake-up call for many businesses. Not only has it underscored the critical role they play in fostering their employees’ continued personal and professional development, but it also has reinforced a need to prepare them for the new business challenges they’ll face in a world quickly becoming more “digital” every day.
At Talentsoft, we’ve always talked about the importance of digital transformation in the workplace—and during this crisis, we not only talked the talk, but we walked the walk.
Our innovation-centric business model made it possible for our teams to pivot quickly to focus on solutions for our customers that would help them overcome the unique challenges they faced during this tough time. This led to a couple of positive trends:
- The demand for our Talentsoft Digital Learning Solutions grew 30% during the first half of the year, as many of our customers seized this opportunity to make bigger investments in skills development—especially around soft skills; and
- Talentsoft’s Continuous Conversation solution empowered managers to be more effective at a time when teams were working remotely, giving them a better and easier way to share feedback, stay focused on objectives, and drive measurable results.
But we didn’t just help our customers get over the many hurdles caused by COVID-19-related disruptions. We put these same practices in place with our own employees, too. After all, it’s important to practice what you preach, right?
The path towards continued growth
As we now well into the second half of 2020, we are incredibly proud of what we’ve been able to accomplish as a company during what’s been a very challenging year for all businesses.
Because of our unique business model—and the systems we already had in place to enable our own teams to continue working uninterrupted, even from home—we were not only successful in preserving jobs but also in growing our business by an impressive 22% in the first half of 2020.
We continue to remain cash flow-positive as we move into the second half of the year and are not wavering from our projection of 22-24% growth (€90M in annual turnover) for the full year.
There are a few key reasons why we remain so optimistic about our ability to grow:
- Onboarding New Customers: We successfully closed more than 200 new transactions with enterprise-level customers in the first half of the year, including Attendo, BearingPoint, CRAS Wood Group, Devialet, Kienbaum and ZEB.
- Acquiring Crafty and Deploying Talentsoft Match: While many competitors in the HR tech ecosystem tend to be “generalists,” we pride ourselves on being fully focused on the HR community by innovating around Human Capital Management. By acquiring the European tech startup Crafty—announced by CEO, Jean-Stéphane Arcis during this year’s first-ever virtual Club Talentsoft—we have taken an important step in helping businesses not only find the right candidates for open jobs but also more effectively match current employees with new internal opportunities. We will be infusing this cutting-edge technology into our new Talentsoft Match solution, in order to help businesses:
- Identify and track employees skills, goals, and career aspirations
- Build an automated, intelligent talent profile across all HR processes
- Suggest relevant skills development opportunities to employees
- Connect both internal and external candidates with new job opportunities
- Find the perfect match among all applicants (even those who did not apply)
- Help employees acquire new job-related skills
- Motivate employees to drive impact across a wider variety of projects.
Part of our strategic roadmap, we are confident in the role that Talentsoft Match will play to transform organizations—and their employees—to be better prepared for the many new challenges businesses will face in the future.
Looking towards the final quarter of 2020
We are continuing to innovate, in deep collaboration with our customers, around what the future of HR can, should, and will look like. There are many new initiatives, product developments, digital events, and other surprises in the works that we will share with you soon. Also, stay tuned for exciting news around analyst reports to be released next month.
Until then, be on the lookout for our new brand look and feel, launching on November 19th. Now that we’ve been steadily disrupting, innovating, and improving the world of HR tech for over 13 years, we thought we’d give our brand a more modern feel that truly represents the energy and excitement Talentsoft brings to this rapidly evolving space.