Revenue Doubles Year-on-Year, Continuing Growth Trend After Tripling Last Year
Surge in Corporate Demand for Attendance Management Driven by 52-Hour Workweek and COVID-19

Media Coverage

• Shiftee's 2021 Operating Profit Soars 30-Fold, Revenue Continues to Grow

Shiftee, a leading integrated workforce management solution provider, announced on the 27th that it expects a twofold increase in revenue and a 30-fold surge in operating profit by the end of 2021 compared to the previous year.

In Korea’s rapidly growing workforce management market, Shiftee has recorded two consecutive years of significant revenue growth, solidifying its position as an industry leader. Following a 300% revenue increase last year, which allowed the company to break even, Shiftee has continued its strong performance in 2021 with an additional 200% increase in revenue compared to the previous year. Notably, operating profit is expected to rise 30 times this year.

Shiftee’s rapid expansion can be attributed in part to external factors, including the full implementation of the 52-hour workweek policy for small and medium-sized businesses with fewer than 300 employees and the shift to remote work due to COVID-19. The demand for workforce management solutions has surged as companies seek to adapt to new labor regulations and work structures.

Many businesses that previously relied on manual attendance tracking have entered the market, attracted by the low implementation and maintenance costs of cloud-based solutions. Additionally, organizations already using ERP or groupware systems have increasingly recognized the need for specialized workforce management solutions that seamlessly support diverse work arrangements.

Shiftee’s sustained growth has also been driven by its enhanced internal capabilities, including its service expertise, product competitiveness, and a diverse customer base spanning startups, SMEs, and large enterprises.

This year, Shiftee has recruited and developed professionals with extensive experience in B2B enterprise solutions to further strengthen its service operations. Additionally, the company has completed the enhancement of its software, ensuring stability and security so that businesses of all sizes can easily adopt the platform.

Shiftee’s scalability and compatibility with enterprise solutions such as SAP and Workday have contributed to a sharp increase in adoption by large domestic and international corporations. The company has also implemented business-friendly policies to support startups and SMEs with fewer than 50 employees, further expanding its customer base.

Seungwon Shin, CEO of Shiftee, stated, “This year, we introduced universal workflow and e-contract features, and in Q1 next year, we plan to expand our services through strategic partnerships with leading solutions in recruitment and finance.”

He added, “Our goal is to make Shiftee an all-in-one solution for systematic workforce management, ensuring seamless integration with surrounding software while continuously enhancing specialized features for workforce and attendance management.”

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