Mindlance Company Research Report

Company Overview

• Name: Mindlance

• Mission: To offer talented professionals freedom and choices in their career paths, focusing on intuitive solutions for modern business demands.

• Founded: 1999

• Founders: Two kindergarten friends with graduate school MBAs, who ventured into business during the era of Y2K.

• Key People: Vik Kalra, co-founder, also noted as an industry influencer.

• Headquarters: Originally in Hoboken, NJ.

• Number of Employees: Employee strength surpassed 2000.

• Revenue: Over $400 million (as of the latest achievements).

• Core Recognition: Known for being one of the fastest growing staffing firms in the U.S and ranked amongst the largest diversity-owned staffing firms.

Products and Services

Staffing Services

• Technology Staffing: Provision of skilled professionals in technology sectors.

• Digital & Creative Staffing: Offering digital and creative talent to meet modern business needs.

• Scientific & Clinical Staffing: Supplying scientific and clinical professionals.

• Professional Staffing: Providing professionals across various industries.

• Industry Specialized Staffing: Crafting specialized staffing solutions tailored to industry needs.

Workforce Solutions

• Quintrix (Upskilling): Focus on bridging IT skill gaps, offering end-to-end recruitment, training, and deployment solutions.

• Reboot Talent (Returnship): Helps professionals re-enter the workforce after a career break with training and job matching services.

• Diversphere (Diverse Talent pools): Concentrates on sourcing, training, and deploying diverse talent while reducing the opportunity gap.

• Pay + Payroll & IC Compliance: Services for managing payroll and compliance.

• Pay + Direct Sourcing, Master Vendor & VoP, Recruitment Process Outsourcing: Solutions to streamline recruitment and staffing processes.

IT Solutions

• Application Services, Experience Design, Data Engineering, Product Engineering: Comprehensive IT solutions across various domains.

• Cloud Engineering: Implementing and managing cloud-based services.

• Cyber Security, Artificial Intelligence and Machine Learning: Providing state-of-the-art solutions in cybersecurity and AI.

• Intelligent Process Automation: Enhancing business processes through automation.

Recent Developments

• New Acquisitions: Acquired Quintrix in 2021 to enhance the Recruit-Train-Deploy solution with a focus on building a pipeline of early career and under-represented talent.

• Revenue Milestones: Achieved $300 million in revenues in 2022.

• Awards: Multiple awards received in 2023 including Forbes America's Best Temporary Staffing firms, Allegis Global Solutions Strategic Supplier 2023, and Magnit Global Supplier Excellence Award 2023.

• Expansion: Expanded operations into international markets including Canada.

• Diversity and Inclusion Initiatives: Launched services like Diversphere to support under-represented talent pools by offering upskilling and coaching services.

Strategic Growth

Mindlance has shown consistent growth by diversifying its service offerings and focusing on comprehensive workforce solutions, staying ahead in the staffing industry with a keen emphasis on diverse talent inclusion and upskilling.

Key Challenges

• Addressing IT Skill Gaps: Through upskilling initiatives like Quintrix, Mindlance is proactively tackling the challenge of IT talent shortages.

• Industry Evolution: Maintaining advanced and relevant service portfolios in a rapidly changing tech environment.

Conclusion

Mindlance has successfully positioned itself as a leader in diversity-centric staffing solutions while continually growing its footprint in the staffing industry. The company's strategic initiatives in workforce solutions and IT services are pivotal in driving its nationwide and international success.