Industry analysts IBISWorld today named Australia’s Top 500 private companies for 2018, with Talent International ranked number 96.
This represents a jump of more than 20 places from Talent’s previous position at number 119 on the list, and follows a year of record growth. The financial year saw a group turnover of $544.91m and YoY revenue growth of 17.9%.
Over the past five years Talent’s top line has grown by 120%. Talent Founder and Chairman Richard Earl said the results reinforce the company’s global growth mindset.
“It is very positive to see the rewards from our global expansion plan coming together. We now have 16 offices around the world, all of which are delivering fantastic outcomes.”
Mark Nielsen, Talent APAC CEO commented that the strong results across the Talent APAC branches were a result of a stable, passionate leadership team and an ongoing commitment to the people at Talent.
“At the start of the 2018 financial year, we set out to transform our traditional HR function into a world class People and Culture model. This involved a number of key initiatives, including embedding a clear purpose, vision and mission into the fabric of the organisation.”
This directive has resulted in a reduction in staff turnover from 25% to 12% – a significant departure from the Australia and New Zealand recruitment industry average of between 30-45%.
“We are incredibly proud of the work we have done to ensure Talent is a rewarding and supportive workplace for our people. In recruitment, tenure and longevity are invaluable, and the financial benefits of retaining exceptional people speak for themselves.”
Further demonstrating the impact of this strategy, Talent reported that the final quarter of 2018 saw an all-time permanent revenue record for the group. Meanwhile, the UK business, which was rolled up into Talent Group on 1 June and is now wholly owned, reported a significant increase in contractor numbers over the 2018 financial year with particular growth in the public sector and across Germany.
In the US, Talent has made great progress with its Californian operation which has a focus on digital health and biotech. A New York presence will be established towards the end of the year.
Earl added, “These latest results put the business in an extremely strong cash position which provides us with the necessary funds to further develop our innovative products, invest in our people and scale our newer offices.”
Talent also continues to show a commitment to cultural diversity and the community through Talent RISE, a foundation established to solve youth unemployment. In the past year RISE placed more than 80 young people into tech related jobs, of which 7.5% identified as Indigenous. The foundation also impacted the lives of over 400 young people through initiatives including workplace visits to Google and LinkedIn and developing employment skills at Talent offices in Sydney.
The business is working towards a goal to establish RISE locations in every city that Talent operates in, with Wellington, Adelaide and London outposts launched in the past few months.
“We have a strong, passionate team, and are committed to “breaking from the pack” as we head in to the new financial year,” Earl said.