August 13, 2020 – San Francisco, CA – SmartRecruiters is proud to announce it posted its best first half results in company history, in the middle of a pandemic. While market competitors reduced workforces and scaled back operations, SmartRecruiters doubled down on uniting customers, pivoting R&D efforts and spearheading innovations for remote work. The investment yielded positive results: over 200 enterprises joining the SmartRecruiters family, a +9 point increase in NPS, 85% YoY net bookings growth, and 93% gross retention.
While many predicted a market slowdown, companies agree now is the time to upgrade their outdated Applicant Tracking Systems (ATS). According to IDC research director, Megan Buttita, in her report, “Talent acquisition has been waiting — and in some instances asking — for time and requisitions to slow down. The time has arrived, and the opportunity is here for the TA function to rise to the challenge and become the strategic function it has always sought to be.” The fact is when recruiting volumes are low, it’s the optimal time to accelerate digital transformation in recruiting.
Enterprises that chose to leverage the time and upgrade with SmartRecruiters in the first half include:
- Global fashion retailer in Sweden with 160,000 employees
- World’s leading quality organization in Geneva with 89,000 employees
- Largest fast food chain in Australia with 110,000 employees
- Marketing and advertising group in Europe with 90,000 employees
- Hospital group in Chicago with 25,000 employees
- Global online payment platform in Silicon Valley with 28,000 employees
- City and county government entity in California with 34,000 employees
- Hospital group in Geneva with 12,000 employees
- Cloud provider in Silicon Valley with over 10,000 employees
- America’s financing for mortgage lenders in Washington D.C. with 7,500 employees
For existing customers, SmartRecruiters focused efforts to unite the community. New resources included free certifications, new global user groups, a Hiring Success MasterClass, a revamped Help Center and more. As a result, customer satisfaction and engagement is at an all-time high. The company is happy to report a 200% YoY NPS increase, 93% gross retention, a 3x increase in monthly average users and over 2,500 MasterClass certifications.
When the crisis hit and companies moved to fully remote workforces, it was clear remote hiring teams needed tools for better collaboration and efficiency. SmartRecruiters quickly pivoted R&D efforts to answer the call. The result was a widely-praised Q2 product release with many fulfilled user-voted features such as the SmartMessage texting solution, Task management, Workflow management, Remote Jobs functionality and more.
“Having only started our transition across to SmartRecruiters a few months ago, our first quarterly delight has been a fantastic release: from the new widget on the home page making it clear to approvers what approvals are outstanding, the one click inbox and the introduction of WhatsApp and text messaging. The team is already introducing the new workflows which helps to streamline our processes and has clear timeframe efficiencies for both the company and candidate experience,” says Jo Serino, Head of Resourcing at Culina, a UK-based logistics company with 9,000 employees.
Throughout it all, SmartRecruiters decided against furloughs and mass layoffs. Instead, the company leveraged the moment to recruit great talent from the market, expanding its sales team, investing in key leaders in professional services and sales, and growing its R&D team.
“We’re proud to see SmartRecruiters reporting banner quarters in 2020. As one of our highest-performing portfolio companies, it’s clear SmartRecruiters is having a moment where employers and candidates understand the power of digital transformation in Hiring Success,” says Rajeev Batra, partner at Mayfield.
