As employers focus increasingly on building skills-based organizations, revolutionary talent assessment provider Plum has seen increasing market demand for its offerings. The company has reported 118 percent revenue growth during the first half of 2023, underscoring Plum’s unique approach that enables organizations to better understand and fully leverage the soft skills of employees and job candidates.
As the market moves away from jobs and roles to skills, the data required to support this trajectory is usually dispersed across multiple systems, with approximations as high as 86 percent. Added to this challenge is the rapid erosion of hard skills, which are the specific skills related to job-defined duties with an estimated half-life of 2.5 to five years. The soft skills uncovered by Plum’s validated psychometric data provide valuable insights into how workers can continually align with the company’s hiring needs through internal career mobility.
Plum’s CEO, Caitlin MacGregor, commented, “HR buyers are more educated about holistic solutions that can be implemented throughout the organization and cover the entire employee lifecycle. They’re equally selective about wielding their purchasing power, especially given today’s rapidly changing labor market. This is because at HR’s core is an implicit understanding that when people flourish, businesses thrive, and that’s where Plum shines.”
During the first half of 2023, Plum welcomed new enterprise customers at a rate higher than ever before. The forecast for the remainder of 2023 supports this momentum with the current pattern at an even greater acceleration point.
To support its continued growth, Plum has made strategic hires expanding its capacity in partnerships, content marketing, technical integrations, customer support and on its Industrial-Organizational Psychology team. Increasing its overall headcount by 35 percent, a number of key promotions were also made, recognizing the contributions and potential of existing employees. To date, the expansion of the Plum partner program has grown 200 percent with new partners, including Alexander Mann Solutions, VidCruiter, Humanly, Rolebot and CV Wallet.
Additionally, Plum has increased its global support to better align with the needs of its rapidly expanding multinational customer base. Eighty-five percent of the world can now experience Plum in their native language. In 2023, Plum added six new languages to the platform, including Dutch, Finnish, Hungarian, Romanian, Ukrainian and Turkish.
Plum has also achieved noteworthy awards and visibility during the first half of 2023. The company’s product received the Lighthouse Research HR Tech Award for Best Talent Intelligence Solution and took the Gold GLOBEE for top disruptor product in the human resources category. Plum’s own culture was spotlighted when it was named one of the Top 50 Inspiring Places to Work in North America. The New York Times featured Plum in its Sunday Business section cover story on talent assessments, and the World Economic Forum highlighted Plum’s ability to promote equity in the workplace by mitigating bias in talent processes.
MacGregor concluded, “Our customers are validating the value that Plum delivers, which reinforces our projections of continued growth. There’s a noticeable shift away from point solutions to those like Plum that provide the data needed to support organization-wide talent objectives ranging from acquisition and retention to succession planning and leadership development. We’re very grateful to be at the nexus of this exciting time in the future of work.”
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