Global PEO and employer of record firm increases revenue by 126 percent
Boston—January 17, 2016—Globalization Partners, a global PEO and employer of record firm that helps companies expand internationally without setting up foreign branch offices, today announced that it ended 2016 with revenues of more than $40 million, a 126 percent increase from 2015. The organization also significantly increased its employee headcount, now employing almost 50 employees in its internal team. Key hires in 2016 included the appointment of Dave Hughson to national director of business development in September, the promotion of Debbie Millin to chief operating officer in December and appointment of Nancy Cremins as General Counsel in May.
The U.S. economy is experiencing rapid globalization with many organizations looking to expand business operations overseas. Globalization Partners allows companies to quickly hire employees in any given country – a process that was once time-consuming, costly and inefficient – by eliminating the need to set up an entity and taking on the risk and associated HR, payroll and benefit needs. With operations and expertise in more than 170 countries, Globalization Partners cuts the cost of international expansion by as much as 94 percent, reducing time to onboard a new employee from months to days and turning international payroll and HR management into a fast and easy process.
“On the heels of Brexit, as well as the economic uncertainty surrounding geopolitical issues worldwide, U.S. organizations are finding the process of hiring internationally particularly challenging,” said Nicole Sahin, CEO. “Yet companies need to expand into new markets faster than ever, and Globalization Partners exists to mitigate the associated challenges. As we enter 2017, my team is more energized than ever to deliver quality service to our existing clients, while helping even more companies seamlessly and efficiently expand their operations overseas.”
Globalization Partners received significant recognition in 2016 for its rapid growth and corporate accomplishments. In August, the organization was ranked sixth on the Inc. 500 list of fastest growing companies. With an all-female senior executive team, Globalization Partners was the number one women-led business on the list, and the second fastest growing company in Massachusetts.
Other 2016 honors included ranking 67th on the top 100 women-led business in Massachusetts list, compiled by The Boston Globe Magazine and the Commonwealth Institute. The company also achieved silver- and bronze-level recognition in the Stevie Awards for Women in Business in the fastest growing company and entrepreneur of the year categories, respectively.
In addition to its steadfast commitment to be the leader in the global employer of record and global PEO industry, Globalization Partners plans to increase security measures in 2017 and expand its global health and travel benefits offerings. The organization also plans on publicly launching its world-class technology platform in Q1 2017. Globalization Partners will continue to grow aggressively and expects revenue to top $100 million in 2017.
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