Glints, the Southeast Asia-based talent community and platform, has increased its global revenue by 85% year-on-year for the 2022 fiscal year. This growth has been fueled by rising demand from employers seeking cross-border talent solutions to optimize costs amid uncertain economic times.
In addition to the boost in revenue, the platform’s gross profit has surged 110% year-on-year, underscoring the platform’s commitment to facilitating cross-border hiring in a rapidly evolving job market.
Glints has consistently maintained positive contribution margins across its business units, achieving operational profitability in key markets such as Indonesia and Vietnam. This demonstrates the company’s ability to provide value to both employers and job seekers.
In FY2022, Glints expanded its reach into new markets, including Hong Kong, Japan, and China, while investing heavily in R&D to support its cross-border initiatives. This aligns with the growing trend of companies acquiring top-tier talent in Southeast Asia, achieving significant cost savings in the process.
Oswald Yeo, co-founder and CEO of Glints, emphasized the importance of a borderless mindset in today’s global job market. “Today, employers worldwide are increasingly adopting a borderless mindset to discover the best talent. Cost savings and efficiency will remain top priorities for companies navigating uncertain economic conditions,” Yeo said.
Glints’ results can be attributed to several key macro trends:
- Cross-border hiring for cost savings: Employers are increasingly turning to cross-border hiring to optimize costs while addressing talent shortages. Southeast Asia hosts a pool of talent that employers worldwide can leverage.
- China’s talent acquisition in Southeast Asia: Chinese employers are actively seeking Southeast Asian talent to expand their presence, resulting in a fourfold increase in open roles offered by China-based employers in the first half of 2023.
- The rise of cross-border remote work: The normalization of cross-border remote and hybrid work has led to increased demand for international teams across various sectors, including banking, e-commerce, IT, and marketing services. Glints’ platform has witnessed significant demand for roles such as software engineering, business development, sales, and marketing.
- Focus shifting toward revenue-generating roles: To achieve profitability, there has been a 15% increase in the number of revenue-generating roles listed on Glints’ platform, particularly in sales, business development, and marketing specializations.
- Artificial intelligence-centric hiring: The growing influence of AI has led to a surge in AI-related roles on Glints’ platform, with AI engineers, mentors, trainers, and data scientists seeing increased demand. The demand for AI engineers increased by 15% year-on-year in the first half of 2023.
Looking ahead, Glints remains committed to investing in R&D, focusing on innovation, and introducing new product offerings. Notably, its chat-to-apply feature will facilitate real-time conversations between candidates and hiring managers, streamlining the recruitment process.
With an ever-expanding employer base, which now includes 60,000 organizations ranging from startups to multinational corporations across a wide range of industries, Glints is making strides in its mission to empower professionals and organizations across Southeast Asia.