2021: A Year of Change and Growth
Waldec Group has laid the foundations for continued future success in 2022
2021 was a very successful year for Waldec Group. Waldec managed to exceed the financial results of 2020, which had been the best in the company’s history! Its turnover grew rapidly reaching 24 % with a 14,96% increase of orders at the group level. However, the growth in the number of new customers was not as high as the Group had hoped for, largely due to a lack of resources. Therefore, hiring more people is a focus point for 2022.
Nonetheless, the growth in turnover indicates that the strategy Waldec re-established at the end of 2020 has created a good basis for growth. Making significant changes in the operational structure and company culture is already showing signs of paying off. There is still work to be done, but one of Waldec Group’s ongoing business objectives is to create a more collaborative working environment. For that reason, the unification of the company and brand name to Waldec Group in 2020 was a crucial step towards the future.
Bringing New Talent to Support Growth
Waldec expects its growth to continue to be even stronger than in the two previous years. Its aim is to achieve a staggering 60 % growth in turnover by building its offering to better support its customers. Waldec pursues to be the partner of choice for an even broader audience. Reaching out to a wider scope of customers will also benefit the suppliers.
To achieve these goals, firstly Waldec is hiring new employees for administration, sales, and service roles in all the group companies. With added resources, Waldec will be able to gain a stronger presence in existing and new markets, such as heat treatment. On top of that, having more time to build an even closer relationship with the suppliers will lead to better results for all parties involved; sharing information, setting common objectives, and having the desire to improve and develop cooperation on both sides are essential for a successful collaboration.
Better Tools for Operational Efficiency
Secondly, Waldec is replacing its ERP system. It is expected to go live at the end of September. The new system will support growth by adding automation solutions to day-to-day operations and enabling future digital shopping for customers. It is also mobile, which allows employees to access data and make updates on the go anywhere, anytime.
Building a Brand from the Inside Out
And, thirdly, Waldec will work to continue strengthening the brand by building it from the inside out, and by focusing on creating more of an online presence. Before, Waldec relied mainly on word-of-mouth marketing, counting on satisfied customers to spread the word. Sadly, it is no longer enough. Making digital marketing a priority for 2022 will increase online visibility and hopefully ensure better customer acquisition.
Building a brand from the inside out means that the brand is not only external, but also internal. A strong brand starts from within the company. Waldec’s values honesty, reliability, and responsibility are incorporated in everything Waldec does inside and out. Therefore, Waldec aims to create a collaborative cross-border working environment; having employees in six different countries is an opportunity for innovation, not a hindrance. Waldec expects to continue seeing positive results from creating a culture of knowledge sharing.
Positive Outlook Continues with High Hopes for 2022
Overall market prospects are good although there are several market uncertainties that may destabilize future growth. However, Waldec’s growth is expected to remain high in the coming years due to its plans to keep growing into new markets and with new products. Together with new suppliers and new talented employees, Waldec can serve its loyal and future customers better than ever before.