The last few months saw several trends like the great resignation wave, the quiet quitting wave, and the current string of layoffs. According to a report, the layoffs at dozens of startups in 2022 affected over 21,000 employees. Key players and well-known employers all over the world fired employees in bulk and completely dismantled some teams in 2023.
Although some businesses refer to it as “restructuring,” it’s demoralizing for the current employees, who may worry that they are the next to go.
enreap is pleased to share how, despite the widespread rounds of layoffs, we not only managed to survive all the turnovers but are also hiring new employees. So, what are we doing differently that is enabling us to maintain and even expand our workforce? The answer is in our work strategy and the products we offer. Let’s take a look at it closely –
1. Repeating clients
In a recent report, HubSpot gave a great explanation of customer retention and how it relates to ROI. It states that a 5% improvement in customer retention can increase revenue by anywhere between 25 and 95%. A strategy that focuses on acquiring new clients while also considering client retention can be very effective.
At enreap, we mastered just that. Relationships are important to us, whether they are for long-term associations or short-term projects. We firmly believe in creating value, and we approach this goal with the utmost responsiveness and trust, enabling us to uphold exemplary service standards. The strength that enabled us to maintain our current workforce was the loyalty of our repeat customers.
2. New Partnerships
Strategic alliances are very advantageous because they create new revenue streams and market opportunities. According to one of Zoom’s reports, its well-established partner ecosystem fueled 20% of the company’s international bookings. Establishing strong foundations and fostering client trust through new partnerships is crucial.
enreap is always interested in forming new client partnerships that will enable us to offer both current and potential customers the best solutions. Along with our other partners like AWS, GitLab, etc., we entered into a partnership with Planview in 2022 as a solution partner. Such new partnerships aid in establishing our client’s confidence in our proficiency, enabling us to work with the same ease under all circumstances. New partners result in new teams and projects, which facilitates our ability to hire across various verticals.
3. Employee-centric practices
enreap aspires to be an employer of choice, so we never let our business strategies interfere with our relationship with current staff members. Since the pandemic, we have not only kept a steady cash flow to support our current workforce, but we have also ensured that there are no cultural conflicts resulting from the difficult time for employees and businesses.
We use a variety of strategies to support and re-energize our current workforce, including career planning, a quarterly review system, an employee referral program, a reward and recognition program, and many others. In order to stay ahead of the competition, this culture has thrived in bringing out the best in our team members. We appreciate being in a position to hire in such uncertain times because of our employee-centric work practices.
4. Our niche sets us apart
With the development of AI and other current marketable digital solutions, many jobs and business models are becoming obsolete. By 2030, the World Economic Forum predicts that over 85 million jobs will be of no use because of artificial intelligence. What then are we doing to empower our workforce so that, when the time comes, they can easily be deployed in various projects?
enreap has taken care to use cutting-edge technology to ensure the best technological transformation for a workforce that is prepared for the future. We have narrowed our focus to a few key solution offerings that distinguish us from competitors in the market. This has made it possible for us to keep the same workflow going while also allowing us to hire as needed even during periods of layoffs.
5. Skill-ready workforce for better outputs
Our workforce expands their knowledge through classes, seminars, and engaging projects that enable them to keep learning and pave the way for a great career. We consider employee upskilling and engagement to be crucial pillars on which our culture has been built. Due to our ability to convince top talent that sticking with us will be an investment in their career, we have been able to attract and retain top talent.
As a result, we are able to benefit from each employee’s best efforts because, for us, growth occurs in both directions. enreap’s culture and values are built around the same ideals that we want our customers to uphold. We made internal improvements to demonstrate what we know and can do to help, which has prevented our company from experiencing a whirlwind and allowed us to keep expanding our workforce.
enreap is committed to giving clients who want to boost teamwork and engagement unwavering values, just as we do for our own work family. If you would like to be a part of such a fast-paced yet stable workforce, then check out our open positions and join enreap.
