The Case Study
The pandemic brought employee success to the forefront,
and taught us all what we really needed.
When the pandemic hit, our purpose-driven outsourcing company was in the same position as everyone else: operating in a totally new environment and context, against the ridiculous backdrop of uncertainty, standing and staring at major disruptions to our business model and livelihood (we took a 35% revenue loss effectively overnight).
We focused on our people, prioritizing their safety, health and success. For all the lip service we’d paid to our values for years when the pandemic hit we were forced to turn those words and phrases into plans and actions.
It was the right move to make as moral human beings.
It also ended up being the extraordinarily right move for our business.
Since March 2020, Boldr has nearly 5x’d in size, revenue, and countries of operation, all while remaining bootstrapped and self-funded, improving margins, and giving our team members more space and support on everything from paid leave to Learning & Development to clearer impact initiatives. (We also built the world’s largest B-Corp certified BPO and PEO – we did all of this with a conscience.)
Prioritizing Employee Success worked for Boldr. When we looked at the companies we were working with who were thriving similarly, we saw the same focus, prioritization and values. People first.
Prioritizing Employee Success also proved necessary as The Great Resignation – or more accurately, The Great Reckoning – gained momentum. Companies who’d already acknowledged and shifted their approach fundamentally, found themselves more insulated against the exodus of people because they were proactively addressing drivers of dissatisfaction and disengagement.
Conversely, those organizations who did not respond at all or did so only superficially – such as forcing people to return to work – found themselves further squeezed. And because they never understood the problem in the first place, they started trying to solve their employees state of mind instead of addressing their state of work.
Prioritizing Employee Success went from a point of differentiation for Boldr and the companies we worked with, to a business imperative. If we didn’t prioritize Employee Success, Boldr would not be here today.
Employee Success is critical to sustainable Organizational Growth and Success.
At the time of writing, and since embracing an Employee Success mindset in response to the pandemic, here’s what Boldr experienced over 2 years:
- 8x Boldr’s Valuation
- 5x Team Size
- 4.5x Revenue (with 2022 scorching past a 2x revenue trajectory by the end of February 2022)
- Expanded to 5 geographic locations (from 1 location to 2 in the Philippines, 1 location in South Africa, 1 location in Mexico, and a fully virtual team in Canada).
- Remained bootstrapped and self-funded entering 2022 with optionality on funding models and sources
- Transformed Team Member eNPS, participation, ownership, health and wellness, and collaboration
As I reflect on my work at Boldr, it’s undeniable that our first decision at the start of the pandemic — to prioritize Team Member Health and Success — was our most powerful and correct one. It is this decision that set the stage and foundation for the growth we achieved and, for the way in which we achieved it.
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