Komponent (formerly Vegvisir), an information technology (IT) solutions and software development company established in Lithuania in 2018, is a subsidiary of the Norwegian IT company Miles - the only Miles subsidiary in a foreign market.
"When we opened in Lithuania, we were not sure that our atypical organisational model would catch on here. Our business is truly based on a philosophy of servant leadership, a rejection of the traditional budgeting process, employee autonomy, and a priority focus on competence and warmth of personality when selecting employees. However, we have attracted highly skilled people, implemented successful projects, and seen that Komponent's values work well in Lithuania. The mentality of people is very similar to that in Norway, the qualification level of the professionals is very high, and we are now confidently planning our expansion," says Gøran Skeie Ellingsen, Komponent's CEO and founder.
The company has changed its brand and name in Lithuania due to greater integration with the management company's division Miles Create in Norway, which has also rebranded as Komponent.
"In Lithuania, we only compete in the labour market; most of our customers are Norwegian companies and multinationals. Therefore, the integration with Komponent in Bergen will significantly strengthen our position in offering services to clients in the Norwegian market. In addition, the joint contact network with Miles will be an important factor for further growth," says Mr Ellingsen.
In Lithuania, Komponent's revenue in 2021 is expected to reach EUR 2.4 million, a 70% increase from the previous year.
Currently based in Vilnius, the company plans to open an office in Kaunas next year, which will allow it to better exploit the city's labour market potential.
"We see increasing competition for technology talent in Lithuania, and the ability to hire in both Vilnius and Kaunas is important for future growth. Kaunas is the second-largest city with a well-developed education system, and it is very close to Vilnius, which were the most important factors in choosing the location for the next office," says Ellingsen.
Komponent currently employs almost 30 professionals and plans to double in size over the next year. However, Komponent's CEO and co-founder said that the company is not an aggressive grower - only growth that does not unbalance the organisation's culture is acceptable.
"We are not in a hurry. We want to attract 10% of Lithuania's IT talent. We choose our employees carefully, not just based on technical skills. We are looking for warm people who will be pleasant colleagues and able to cooperate with our clients. We ask for ten references, which we check and then discuss with the candidates. This ensures that the management model based on employee freedom will work and at the same time provides a good, psychologically safe atmosphere. This may sound trivial, but in reality, it has a strong impact on the company's efficiency and employee satisfaction. As a result, both the Norwegian company and Komponent in Lithuania have a much lower turnover rate than average in the IT sector," says Mr Ellingsen.
Komponent's management company, Miles, has been in the market for 16 years and has been ranked as the best place to work in Norway and the second-best place to work in Europe by the Great Place to Work Institute.