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A dirty Deel?
In a fiasco more suited to a corporate espionage thriller, HR tech firm Rippling has accused its rival Deel of planting a spy to extract confidential business information to take control of its clients and steal their staff.
The spy allegedly started searching for mentions of Deel in Rippling’s Slack messaging system in November 2024, hoping to find information about sales leads involving Deel customers, pitch decks, and other sensitive data.
Over the last few weeks, the incident has sparked discussions on data security, corporate ethics, and, importantly, the true essence of industry competition.
Rippling and Deel, most recently valued at $13.5 billion and over $12 billion, respectively, are desperately trying to get out of each other’s hair. An evolving workforce and the increasing importance of employee experience have increased the demand for HR services, and both companies are looking to capitalize on this boom.
Unfortunately, one of them has allegedly crossed a line that should never be crossed. Competition in business, or any other field or industry, is supposed to drive innovation, increase economic activity, lower prices, and improve the overall customer experience. Tight competition signifies that there is a robust market for your product or service.
Understanding your competition
Business is tough. CEOs, senior executives, and their staffers have spent many sleepless nights honing their product and polishing presentations. A number of firms have entered into risky M&A, invested millions into a product, and tried out the latest platforms to boost operations. Some have succeeded, while plenty have been burned. It’s all in service of outlasting their rivals.
One of the requisites of business success is understanding your competition. It involves looking closely at their suite of products and services and thinking of how you can differentiate your business. Sometimes, it can be done through a new product or by improving an existing one.
Several businesses do a simple SWOT analysis of their industry to see where they stand and how they can improve. Others outsource business consultants to do an in-depth market analysis for them. The outsourced consultant gives them an unbiased look at their business’s standing vis-à-vis the industry’s other players. The intel gathered will help the business discover the industry’s nuances, its consumers’ specific needs, and what their competitors are missing. This will aid them in their decision-making process, particularly on how they can outlast their rivals.
Control what you can control
However, there are other firms that achieve relative success without competing. These businesses care more about achieving their targets and not about how their rivals are performing. Success for these firms means surpassing their previous revenues, launching a new product or service, or expanding their footprint.
It’s a healthy way to go about your business, as competition can sometimes be the root of unnecessary insecurities, envy, and anxiety. Sometimes, the best way to stand out is to focus on your processes and operations to make your product or service the best it can be. Boosting revenues and winning rivalries will take care of themselves if you zero in on the journey and not the outcome.
The question for your business
How do you handle industry competition?
