A healthcare call center called Beryl Health invested in its employees instead of cutting costs, achieved higher profit margins than competitors, and sold for 22 times revenue—an unheard-of multiple in the industry.
You're making, starting to make revenue, but you reinvest that revenue into your people. You put your people first. That then kind of feeds into the relationships with the customers. Because if you're looking after your people really well, the relationships with the customers are far, far better. And those in turn turn into higher margins. So in the industry that Paul was in, which was a kind of healthcare, basic call center, Beryl Health was seeing much higher margins than any of their competitors because of what they were doing. And then again, they were reinvesting that money. So we're staying on their purpose and reinvesting in their people. And when he went to sell, the business was sold for a multiple of 22 times, I think, which was unheard of in the industry.
Reducing Regrettable Attrition in Organizations by Fixing the System, Not the People Reducing Regret
