Elements Global Services Doubles Revenue and Customer Growth in 2021, Supported by the Launch of Two Cloud-Based Solutions
Elements Global Services, a global HR technology firm and direct Employer of Record (EOR), doubled its revenue and customer base in 2021, leading to a record-breaking year. The rapid momentum is supported by the company’s recent global expansion, now offering its EOR solutions in more than 160 countries, as well as the launch of two new solutions: Venture Global and GoGlobalGov.
These milestones have translated to a successful year and solidified Elements’ position as the premier direct EOR solution provider, simplifying global expansion through HR technology solutions that break down the barriers to entering new markets. Additionally, Elements’ expanded C-suite team in 2021 will play a significant role in continuing growth in 2022.
New Cloud-Based Solutions Support Industry Demand
The direct correlation between globalization and remote work, coupled with the need for centralized global payroll solutions, has positioned Elements to further influence and drive change in the HR tech market worldwide. In 2021, Elements continued its commitment to simplifying global expansion with solutions tailored to support the unique needs of government contractors, along with venture capital (VC) and private equity (PE) firms.
Venture Global is designed to alleviate the human capital challenges that arise from mergers and acquisitions, restructuring and investment deals. The solution assists with business planning and global expansion by simplifying the human aspect of international and local deals as well as divestitures.
“Venture Global allows VCs, PEs and any organizations considering a restructure to focus on financial and investment goals, rather than the HR risks that stem from major deals, like an M&A,” said Rick Hammell, Elements’ founder and chief executive officer. “Often, these types of deals fail to achieve their planned goals, and part of that can be attributed to HR-related factors. Venture Global ensures the human aspect of such restructuring is prioritized and supported throughout the entire process.”
Elements designed GoGlobalGov to help prime and sub-contractors looking to win and successfully execute on overseas government contracts. By providing one global workforce solution partner, GoGlobalGov offers speed-to-market within the growing government contracting space by navigating the complexities surrounding this line of work, including managing compliance of local labor laws and regulations.
GoGlobalGov is designed to help government services clients – primes, subcontractors and subrecipients – succeed on global bid-to-win projects and implement overseas programs funded by any government department, agency or entity worldwide. Through its best-in-class technology and solutions, GoGlobalGov helps clients manage projects at any stage of the lifecycle and reduce operating risks by managing compliance with local country labor laws and regulations as well as any funding agency requirements. By partnering with GoGlobalGov during the procurement stage, clients can position themselves as a contractor ready to implement projects in any part of world, compliantly and efficiently on day one.
“Government services must abide by changing regulations from the Federal Government and local governments, said Chelsey Griggs, Elements chief strategy officer. “This requires local knowledge to mitigate the risks associated with operating in a new environment, often in heavily regulated or politically unstable places. GoGlobalGov partners with contractors before, during and after procurement to ensure compliance and risk management.”
Each new solution is supported by Elements’ award-winning, HR technology platforms which enable users to fast-track global compliance and automate and streamline global payroll and other HR functions when entering new markets.
Leadership Expansion Supports Elements’ Growth Strategy
An expanded leadership team played a key role in Elements’ growth during 2021. Strengthening the team is part of the company’s broader plans to simplify global expansion through the seamless delivery of innovative software and value-added services for companies across all industries.
Effective December 15, 2021, Elements appointed Doug Olds as chief financial officer (CFO). With over 20 years of investment banking and CFO experience, Olds brings strong international business acumen and a proven track record to the role.
Effective January 1, 2022, Anthony Smith was promoted to chief operating officer (COO), previously serving as chief human resources officer. As COO, Smith will lead HR and payroll operations, global mobility and people & culture.
In September 2021, Elements expanded the company’s C-suite team with the additions of Will Carter as chief revenue officer, Chelsey Griggs as chief strategy officer and Adil Shabbir as chief technology officer. Earlier last year, JoHannah Harrington was promoted to chief legal officer, previously serving as vice president of compliance, data protection and government relations.
“Elements was founded on the belief that people are what make a company successful, and that was a driving force behind our growth this year,” said Hammell. “Not only did we invest in the people we already employ, but we strengthened our C-suite. Many of our leaders come from tech backgrounds, which will be invaluable as Elements seeks to evolve its best-in-class technology solution to meet the demands of our customers and help launch us into our next phase of growth.”
Increased Global Reach Reinforces Localized Expertise
In October 2021, Elements expanded its direct EOR solutions to 25 additional countries to address the multi-billion-dollar remote work marketplace. The company’s increased global footprint now spans more than 160 countries, positioning it as one of the largest HR technology and solution providers to support companies hiring and managing a global workforce. Additionally, Elements’ employees are fluent in more than 90 languages to further support its growing client base.
In addition to expanding its direct EOR solutions globally, Elements opened five new office locations. Elements opened its APAC Headquarters in Shanghai, which supports the rapid growth of business in the region. Elements’ new San Francisco location supports the company’s growing West Coast-based technology clients, while relocating its global headquarters back to Chicago reinforces support for US-based clients. The company’s international footprint was further enhanced with the opening of a new office in London, which continued to solidify the company’s work in the UK.
Industry Impact and Community Commitment
Elements’ team rounds out the year thankful for recognition in HR solutions, innovation and entrepreneurship. The company remains committed to changing lives in both global and local communities through business and social initiatives.
Elements’ industry impact starts at the top with the company’s CEO and founder. Hammell was recognized as a winner of the Ernst & Young Entrepreneur of the Year® 2021 Midwest Award.
Hammell’s innovative spirit is embedded into the vision of Elements and, as such, the company was honored several times throughout 2021. Elements won a Prism Award for Shared Services, presented by the American Payroll Association, demonstrating excellence through effective leadership. Excellence in all areas of business ushered Elements into Crain’s Chicago Business Fast 50 List and Inc.’s 5,000 of 2021 list.
As a testament to Elements’ work in Asia, the company received six accolades from the HRM Asia awards in the categories of mobility & relocation, outsourcing solutions, HR data & analytics solutions, payroll solutions, cloud solutions and human resource information systems.
Additionally, Elements’ dedication towards changing lives comes closer to home through a partnership with Big Brothers Big Sisters of America. The organization’s focus aligns with Elements’ values which aims to positively impact the communities it serves.