talentReef, the market-leading unified HCM platform for Recruiting and Talent Management Systems announces major customer wins and continues to execute on building out the Hourly Workforce software standard for end-to-end Human Capital Management. In Q1, talentReef added 644 new customer contracts and new billings, achieving a 234% increase Y/Y. Platform subscription revenues increased by 66% Y/Y. The accelerating momentum is driven by the company's product vision and execution, increasing governmental regulatory risks and costs, and a tectonic shift in HR systems being updated with modern social-mobile capable applications.
John Raeder, talentReef CEO states, "Our record-breaking Q1 performance and growth trajectory foots with our FY '16 operating plan and focus on our client's business objectives to optimize their Hourly (and Salaried) workforce programs.” Raeder further adds, "We've hit the bull's eye collaborating with our clients on smart platform innovations and micro features aimed at enabling Global 2000 clients and franchisee owners to win the war for talent."
Processed 5 million applications in Q1, a 48% increase Y/Y
Landed 360 new contracts in Grocery, Retail, Entertainment, Hotel/Hospitality, C-store, Wholesale
distribution, and Restaurant verticals
Secured major wins and displaced legacy HR software vendors and point solution competitors in 19 key
Reached 54% attachment rate for Performance Management, a 9-fold increase Y/Y
"I'm pleased with our record go-live results in Q1, a 271% increase Y/Y and the ramping of our client success programs to handle a run rate of 2000+ new clients in 2016,” said Joe Poxson talentReef's SVP Client Success. He also states, "We are deeply committed to customer success as our Number 1 priority and supporting the complexities of the highly decentralized franchisor/franchisee HR operational model."
talentReef is the #1 provider for Social Recruiting and Talent Management Systems specifically built for the hourly workforce. As the market leader with more than 55,000 sites under contract, including the world's best known and best run brands, the company streamlines how fast-paced operators find, hire, train, and manage their most valuable asset—talent. The Company's mobile-optimized HR platform (Social Recruiting, ATS, Onboarding, Training and Development, Performance Management, and Analytics) is transforming the way Millennials are connecting on- demand with employers globally. Leading companies across multiple service industry verticals like Five Guys Burgers & Fries, Noodles & Company, Jack in the Box/Qdoba, Focus Brands, Einstein Bros Bagels and Caribou Coffee, Checkers/Rally's, Applebee’s, Spencer's/Spirit of Halloween, Downtown Locker Room, QuickChek, TravelCenters of America, Churchill Downs Race Track and Casinos, Weigel’s, and Marsh Grocers trust talentReef to optimize their Operational and HR functions on a daily basis.