- Enterprise Leader Leverages Investments during Economic Downturn
to Pay Dividends in 2010 -
MARLBOROUGH, Mass. (June 10, 2010) — Workscape, Inc., a leading provider of integrated HR solutions and services, strengthened its industry leadership position with news today of a strong first quarter of 2010, including signing marquee clients, releasing multiple product enhancements, and expanding into the small to medium business market with the creation of a National Accounts Division.
As companies strive to improve employee engagement and retention in a recovering economy, Workscape sees growing demand for its Total Rewards Management solutions, a unique combination of compensation, performance and benefits solutions linked to support strategic human resource (HR) initiatives like Pay-for-Performance and Total Rewards. By adopting Workscape solutions, technology and services, HR departments can help lines of business efficiently manage the three processes that drive total rewards and enable companies to elevate individual, manager and financial performance.
“By releasing new versions of compensation, performance, benefits and manager self-service solutions in the first quarter of 2010, we capitalized on the market lead that we created in 2009 with Total Rewards Management. Our solutions enable on-demand control and visibility into how companies are spending their rewards budgets and how that spend affects their business success,” stated Tim Clifford, president and CEO of Workscape. “Unlike other organizations that have reduced development during a challenging economic climate, Workscape will continue to increase investments further in our products, people and client relationships to drive our success in 2010.”
New Clients and Go-Lives
Workscape expanded its client base across the total rewards spectrum with new top-tier clients and many go-lives. During the first quarter – a heavy period for focal compensation activity in most organizations – clients used Workscape solutions to service more than 3,000,000 employees, manage more than $125B in compensation and handle more than $12B in benefits expenses.
Representative examples of Q1 new clients and go-lives include:
• Bank of New York Mellon, the global leader in asset management and securities servicing, selected Workscape Compensation Planner to manage its complex focal and off-cycle compensation planning on a global basis, ensuring its compensation awards remain in line with budgets.
• UT-Battelle, the management contractor for the Department of Energy’s Oak Ridge National Laboratory, will reduce its benefits costs through the use of Workscape’s Outsourced Benefits Administration (OBA) solutions, including the Eligibility and Enrollment application, 24x7 onshore call center support, and COBRA and FSA capabilities.
• With its recent go-live, Xerox, the world’s leading enterprise for business process and document management, will begin taking advantage of better compensation decisions through Workscape Compensation Planner.
• A leading specialist insurance company went live in days with Workscape Compensation Planner.
Creation of National Accounts Division
To address the needs of the small to medium business (SMB) market, Workscape formed a National Accounts Division focused on bringing its Total Rewards solutions to organizations with 1,000 to 5,000 employees. Workscape demonstrated great success in Q1 with new sales and go-lives in the fewer than 2,000 employee market. kgb USA, the largest independent provider of outsourced directory assistance services in the United States, selected Workscape to take advantage of its proven OBA solution for its 1,300 employees. In addition, Aspen Insurance UK Services went live in Q1 with Workscape Compensation Manager and Group Manager for its 600 employees.
Solution Enhancements Drive Total Rewards Management at Companies of all Sizes
In Q1 2010, Workscape also released the third generation of its Workscape Performance Manager solution to better support organizations implementing a Total Rewards strategy. The newest edition of Performance Manager enhances multi-rater reviews, refines the user experience and enables organizations to better control the performance evaluation process that drives compensation and Total Rewards.
To further its services for the SMB market, Workscape released the next phase of its OBA plan configuration tools, enabling the rapid deployment of benefits administration solutions for small to medium businesses. The company also released scalable, configurable compensation and performance solutions for the SMB market that can be implemented in a matter of hours.
State-of-the-Art Call Center Success
The company rolled out Workscape Knowledgebase to its call center counselors, which ensures that clients experience a state-of-the-art call center with the best trained counselors and the best technology support. Resulting in very high levels of satisfaction for all callers, the Workscape Knowledgebase helped drive shorter call times with higher accuracy. Q1 results of the new format were impressive with caller satisfaction levels at 96% and first call resolution at 91%.
Responding to Healthcare Reform
Throughout Q1, Workscape actively monitored changes in national healthcare legislation, which culminated in the signing of the Patient Protection and Affordable Care Act (PPACA) on March 30, 2010. The company’s compliance office established a healthcare reform task force to review legislative changes and evaluate the potential impact on its benefits-related processes, solutions and services. The office offers information resources and ongoing support for clients as they assess the effect on plan design, address compliance issues, and communicate how plan changes affect employees’ Total Rewards.
Industry Experts Provide Perspective
Workscape executives traveled the country with clients in Q1 to deliver their unique perspectives on how companies can gain better control over two of their largest personnel cost centers – healthcare benefits and compensation budgets.
Workscape presented at Conference Board Employee Healthcare Conferences in New York City and San Diego with Maureen Robbins of Realogy Corporation. Steve Migliaccio, vice president of Product Management at Workscape joined Pete Kneedler of Acosta, Geoff Harrington of Global Imaging Systems and Colleen Murphy of Asparity on the podium at the National Business Group on Health’s Business Health Agenda in Washington, D.C. Robert Mattson, senior product marketing manager at Workscape, also presented with Stephen Kennedy, vice president of Corporate Compensation at Union Bank, at the 2010 Human Capital Summit.
The first quarter of 2010 confirmed the growing importance of Total Rewards with existing clients, industry analysts and new growth markets. While others in the market are delivering point solutions, Workscape’s focus on linking performance, compensation, and benefits solutions is helping companies drive better business outcomes through an aligned total rewards strategy.
Proven experts in employee performance, compensation and benefits administration, Workscape is the only company with domain proficiency and extensive experience across these three vital pillars of human resources. The blend of Workscape’s Total Rewards Platform™ and services helps clients solve complex HR challenges such as pay for performance, compensation planning, and benefits eligibility and enrollment. For more than a decade, Workscape has delivered the software and services that enable organizations to drive predictable outcomes through engaged, top performing workforces. For more information about Workscape, visit www.workscape.com, follow twitter.com/workscape or call 888-605-9620.
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Note to editors: Workscape is a registered trademark of Workscape, Inc. in the United States and other countries.
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