ConnectIT 20-January-2009 Keeping talent management afloat in a recession by Liam Lahey The harshest part of the talent migration story in the U.S: 250,000 jobs, a seven-year high, were lost in November. In fact, close to 40 per cent of all U.S. employees left their companies in the past year. And more than half of them did so voluntarily. So say officials for Taleo Corp., a Dublin, Calif.-based provider of on-demand talent management solutions. "The data we've seen suggests during a time of recession, turnover is a factor," said Guy Gauvin, vice president of global services for Taleo in Quebec City. "Talent is your key asset . . . in a tough economy an organization should spend time and money on their current workforce first and foremost. "Our solutions can help . . . during a time of restructuring do you have enough data on your top performers?" A bad economy knows no boundaries but Gauvin said Taleo's business is thriving. "Even in bad times . . . the need to hire and retain top talent is still there," he said. "The last public statement we made in October 2008, our last earnings call . . . as of October 2008 our growth was solid. "We're north of 20 per cent growth, revenue continues to expand on the margin front, and 20 new, large customers have been brought on board. We've seen good momentum for our solutions." Despite being a leader in the talent management software field, last December Barroway Topaz Kessler Meltzer & Check LLP, a law firm in Northern California, filed a class action lawsuit against Taleo Corp. for alleged improper accounting practices. A Vermont-based law firm, Johnson & Perkinson, had also filed a lawsuit in the U.S. District Court for the Northern District of California accusing Taleo of a scheme to defraud investors in mid-November. Gauvin said to date the filed lawsuits have not had a negative impact on Taleo's business. "We have some questions (to answer) . . . but it has not affected us so far materially," he remarked.