Sydney, Oct. 21, 2009 (Japan Corporate News) -- Sydney, Oct 21, 2009 - (ACN Newswire) - Talent2 is one of the fastest-growing companies in the services sector providing a complete range of outsourcing HR services to many of the leading Australian companies, including Coles Group, Foster's, Johnson & Johnson (NYSE:JNJ) Pacific, Unisys (NYSE:UIS) , QBE insurance and Telstra. Formerly known as Concept System International, the company was acquired by Morgan and Banks and renamed as Talent2 in 2004. In the past 5 years, the company has successfully transformed from a HR software company into a multidimensional company that provides services, such as executive search and recruitment, Human Resources Information System, payroll, consulting and learning. Company revenue has also grown from 16 million in 2004 to 230 million today.
In an interview with Eugene Yao from ACN Newswire, Talent2 Managing Director, Mr. Andrew Banks, discussed his management philosophy and his ambition for the company. (The following is an edited version of the interview)
How did the GFC impact upon the recruitment industry?
During the GFC, many companies are forced to close down due to over borrowing and liquidity issues. Many companies were just expanding at a pace too fast with too much borrowing, so when the GFC came, they found themselves short of cash to handle the crisis. Talent2 is different, we believe in organic growth. For instance, we don't aim to open a new office until we make sure our last operation has become cash flow positive. "Cash is the oxygen of corporate life" and our healthy cash flow strategy has enabled us to ride out of the financial crisis last year.
Can you tell us about Talent2 business operation in Asia?
We started out our operation in Asia in 2006 and have set up offices in Hong Kong, Singapore, Shanghai, Taipei and Tokyo to cater for these growing markets. Asia is an important market to us. Today, nearly 25% of our revenue is coming from Asia and the market is still growing.
We also see that corporations in Asia are becoming more concerned about their HR process, as the market shifts from a labor intensive economy to a skill and knowledge intensive economy, many larger corporations are demanding for a more sophisticated solution for their HR practice. Talent2 has just the right solution and resources to assist them to achieve their staffing and resourcing goals.
How does Talent2 position itself against other competitors in Asia?
We pride ourselves as the first and only human resources Company in the Asia-Pacific region to offer a complete range of outsourcing services, including executive search and recruitment, Human Resources Information System (HRIS), payroll, consulting and learning. We take a step closer to clients by forming partnership with them, helping them to stay focused on their core businesses.
