Laurie Goldberg - People Corp.

In this episode of the Canadian Equities podcast Laurie Goldberg, CEO of People Corp., joins Robert Cooper as they discuss the major themes impacting group benefit, group retirement and HR solutions businesses. For the full length version of the Canadian Equities podcast connect with us at acumencapital.com/podcast.

Transcript

Moderator 0:01

Welcome to Canadian Equities, a short biweekly podcast series, where we speak with top business leaders and hear their perspectives on the industries in which they operate for the full length version. Find our link in the podcast notes or connect with us at acumencapital.com I'm your host, Robert Cooper today, I'm pleased to have with me, Laurie Goldberg, CEO of people, Corp people. Corp is a leading Canadian provider of employee group benefit consulting, third party benefits administration and group retirement consulting. Laurie grew the company from a small HR practice. And through a series of acquisitions since 2013 was able to build a business, a compounded revenue growth at 26%. Ultimately people Corp was sold to affiliates of Goldman Sachs in 2021 at over$15. Since 2012 people returned just under 50% annually, crushing the TSX at 8%. Laurie Goldberg. Welcome to the podcast.

Laurie Goldberg 0:52

Hey, it's a pleasure to be with you today.

Moderator 0:54

Tell us a little bit about people.

Laurie Goldberg 0:57

Yeah, my pleasure. And so, you know, we are in the business of really designing, implementing, and administering group benefit group retirement. And HR solutions, uh, including wellness solutions, both in the area of virtual care, both physical care and mental health care, uh, for companies across Canada, including, you know, small companies. So we would generally define as one to 50 people to mid-market 50 to a thousand, as well as enterprise a thousand and not. Um, and today we would really be the largest company in our industry in Canada, and have really outpaced the industry in terms of industry growth, even from a north American perspective,

Moderator 1:43

what are the major themes you see impacting the business in the next few years?

Laurie Goldberg 1:48

Well, that's an interesting question. And there's probably a couple of dimensions to that. Um, you know, in terms of our business. And I would say, you know, perhaps many businesses in many industries, I think the, a war for talent is going to escalate. I think the pandemic that we're presumably almost through here, Um, his really exacerbated the situation. So, you know, the ability to attract and retain talent. And really build culture. And you know, this increasing virtual world we live in is going to create some opportunities, but it's also going to create some challenges. So from that perspective, I'd say from a client perspective, clients increasingly are looking for. Um, one organization to help them strategically with their HR needs around attracting and retaining and engaging their, their people and their talent who really speaks to the first issue as well. Um, and you know, too, that you see increasing demand around things like virtual care. Mental, uh, mental care, uh, mental health care solutions, as well as, you know, great solutions around customized benefit programs, customized group retirement programs. So, you know, integrated solutions, being able to go to one provider that understands a company's strategy combined with the fact to be able to provide. Mass customized solution that speaks to not just the client's industry, but also their culture, uh, their financial goals, as well as their goals around their people. And that's going to become even more important, tomorrow than it was yesterday.

Moderator 3:33

Laurie Goldberg, thank you for spending time with us.

Laurie Goldberg 3:36

My pleasure, Rob. It's great. And you have a great day.

Moderator 3:41

Note that this podcast is not making an investment recommendation on any companies discussed. We welcome your comments on today's episode or any other episode. Connect with us at Acumen Capital dot com.