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| Wednesday, 21 October 2009, 12:57 HKT/SGT | |
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Source: Talent2 | |
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Sydney, Aus, 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 Pacific, Unisys, 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. Our business model covers the full talent lifecycle process. From planning and selection, hiring and on-boarding, to payroll and learning, we help our clients source the best employees for the job, manage them and get the best out of them.
Where do you see the areas of growth in China?
We can categorize the China recruitment market into two focuses: "local focus" and "global focus". With the Chinese government pushing out an array of incentives to stimulate the domestic economy, we see that there will be a growing number of "local focus" positions available in the market, particularly in the health care, food preparation, educational and technological industries.
We also see that there is an increasing demand on our training and development services in China. The younger generation in China is looking for something more than just the income; they are also looking for self-development in a job. Talent2 can design, implement and manage these training and development programs, helping businesses to attract and retain their key staffs and increase their overall morale in the workplace.
About Mr Andrew Banks
Andrew Banks, born in London and having pursued his education in Biological Sciences in the UK, decided to emigrate in 1972 to an optimistic Australia, to escape the 'grey skies and economic malaise of that era'. He started his career as an actor and earned a living for almost two years on TV and in Theatre including the then famous The Old Tote Theatre Company (subsequently inherited by NIDA, where Andrew is now Chairman of the Foundation).
He then completed six successful years with a Global Multi-Discipline Design and Construction Group as a Human Resources Professional working in the UK, Norway and the USA, ending his career as the HR Director for Europe and Africa supporting 8,000 employees. In 1980, he returned to Australia to join the Executive Recruitment Industry in its early years of development.
Together with Geoff Morgan, Andrew, founded in early 1985, seeing an opportunity to change the way the then 'cottage industry' worked and grew the company to become the dominant recruitment force in Australia and Asia, with a whopping 17% market share. The company went public in 1995 and sales grew to over $700m, before it was acquired by TMP/Monster.com in 1999, a US listed company on the NASDAQ.
Andrew spent the last three years of his time with TMP in New York as Global Director where he was responsible for approximately 40 acquisitions, and 4,500 staff operating in 32 countries around the world.
Andrew has co-authored four books with Geoff Morgan on recruiting, and works in their investment company, Morgan & Banks Investments. He is also a major shareholder and director of Talent2 International (TWO), a publicly traded company on the ASX, which focuses on HR Outsourcing and Executive Search and Selection, with a team of over 1,100 professionals operating in seventeen countries.
Topic: Press release summary
Source: Talent2
Sectors: Daily News
https://www.acnnewswire.com
From the Asia Corporate News Network
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