Talent has delivered another year of record financial results, reporting a group turnover of $640 million for FY19, and a year-on-year growth of 16%.
During the year, Talent continued to expand its USA business with the opening of its New York office and further scaling of its San Francisco office. Talent also invested further in its freelancer community life hub product, Talent Engage, which has doubled its candidate membership over the last year. Taking into account the expenditure incurred on developing Engage, the group delivered an EBITDA of $12 million. This represents an increase of more than 45% year-on-year. Talent Founder and Chairman Richard Earl said the results reinforce the company’s global growth success and innovation mindset.
Across the APAC region, revenue increased by 17% to $562 million, while EBITDA increased by 44%. Talent’s Brisbane, Perth, Wellington and Auckland offices all achieved EBITDA growth in excess of 50%. The business has also recorded strong results from its solutions operations which was launched in January 2019.
Talent’s UK and European regions reported an increase of 10% in revenue, most of which flowed through to the bottom line. Exceptional growth was delivered by the public sector division and the Bristol branch.
In the US, the San Francisco office is well established with great traction being made in the digital health sector. Talent recently opened a New York office and is building strong presence in this region with a number of global brands in the digital space.
In addition to a record year of financial results, Talent also took out 15 industry awards around the world. These include being the only recruitment company to be recognised in Gallup’s global top 40 Great Workplace Award winners. Other awards included Best Contribution to the New Zealand Tech Sector at the NZ Hi-Tech Awards, LinkedIn’s Most Socially Engaged Staffing Agency and Best IT/Technology UK Recruitment Agency at the Recruiter Awards.
Mark Nielsen, CEO APAC, said that a refresh of the Talent brand and embedding new values into the fabric of the business has played a significant role in these achievements.
“Reshaping our brand and values to reflect how we act with each other and how we support our clients, candidates and those we work with has helped take Talent to the next level. Our team truly embodies the values of lead the way, strive for better and give a damn in everything they do.”
Talent’s “give a damn” value has come to life through the continued growth of Talent RISE, a charity focused on changing the lives of young people who have experienced barriers to employment. In the past year, RISE expanded to the United Kingdom and New Zealand. RISE has placed more than 100 young people into jobs. The charity also impacted the lives of over 2,000 young people through initiatives including, job readiness programs, coaching and workplace visits to inspiring organisations.
Earl said, “It’s very positive to see this strong financial growth and the recognition of Talent in and outside of the recruitment industry. I believe this was largely driven by our desire to redefine recruitment by bringing the human element to the forefront of everything we do. We will continue to innovate with this focus and respond to the shift towards freelancers and the changing workforces of the future.”