Workscape Reports Record Second Quarter Results

MARLBOROUGH, Mass. (September 5, 2007) -  Workscape, a proven provider of outsourced benefits, compensation and performance management solutions, today reported record second quarter results with sales for the first half of 2007 already in excess of Workscape’s strong 2006 full year performance.  During the second quarter of 2007, Workscape welcomed numerous new clients, renewed existing contracts, and increased its workforce by over 10% to support its rapidly growing client base.

 

Based in Marlborough, Mass., Workscape provides the comprehensive HR solutions that help HR professionals manage their two largest workforce expenditures: employee benefits and performance-driven compensation. These scalable and configurable solutions share a common technology platform, can be readily integrated with existing IT investments and can be purchased standalone or in conjunction with the company’s high-touch outsourced business process services.  Founded in 1999, Workscape has earned the trust of many of the world’s leading companies and currently serves millions of employees in over 180 countries.

 

Workscape’s outsourced benefits administration (OBA) offering has been embraced by a significant roster of market leaders.  The company shared that its record quarter included sales to numerous new clients including Republic, AGL, Medstar and Gentiva for services such as enrollment, eligibility, COBRA/FSA and Workscape’s U.S.-based 24 x 7 HR service center. The quarter also included the successful extension of 100% of its renewing OBA contracts and a number of expanded services agreements with existing clients, including Regions Financial Corporation. 

 

Workscape’s award-winning compensation and significantly upgraded performance management solutions were also selected by a number of prominent organizations.  Ahold, an international group of quality supermarkets and hypermarkets, based in the United States and Europe, renewed its agreement for compensation, employee self-service, and manager self-service, which are integral components of that company’s HR system.  Other companies, including Baker Hughes; a fully integrated financial services company and one of the world’s largest companies with over 350,000 employees in over 100 countries renewed their multi-year agreements with Workscape.

 

Tim Clifford, President and CEO of Workscape, commented, “We’re gratified by our existing clients’ continued confidence in our team, our technology, and our commitment to high service levels.  Plus, our new client growth is a strong endorsement of Workscape’s commitment to innovation and our deep investment in robust and highly usable solutions.” 

 

Clifford continued, “We’ve also invested heavily in our own workforce.  During the second quarter of 2007, we welcomed new employees throughout our facilities.  Consistent with our focus to follow HR best practices, we launched several new employee development initiatives: our 2007 Leadership Program for managers and a Wellness program that leverages our OBA offering to help employees make smarter health-related decisions.  We also increased the learning opportunities and knowledgebase programs available through Workscape University, our internal career, knowledge and skills development center.”

 

Workscape’s Senior Vice President, Human Resources, Ed Hurley-Wales observed that participation in Workscape’s employee referral program has increased almost four-fold since last year, with great success in attracting highly sought after development talent.  He cited the company’s use of agile development methodology as a key reason why Workscape is attracting top developer talent.

 

Clifford concurred, explaining, “Our use of agile development methodology enables us to respond to the needs of our customers and market requirements within months rather than years.  It has given us a critical competitive advantage driving increased velocity in product development and, at the same time, enabling us to attract the best and the brightest in the Java developer community.”

About Workscape Outsourced Benefits Administration (OBA)

Featuring powerful, easy-to-use technology, Workscape’s OBA offerings include benefit manager analytics for plan management, rapid plan design change management, and integrated WebMD content and application to inform employees of personal health and benefit decision options.  At the heart of Workscape OBA is a 24x7 U.S.-based HR Service Center staffed by experienced benefits professionals.

About Workscape On-Demand Performance and Compensation

Workscape’s award-winning, multi-lingual compensation solution helps companies streamline compensation cycles, ensure consistency and fairness, and empower managers to pay-for-performance while adhering to corporate guidelines and budgets.  The company’s performance management solution automates the performance management process and fully aligns goals, competencies, results and compensation throughout the organization.  Both products are delivered via the software-as-a-service (SaaS) model and can be deployed individually or fully leverage Workscape’s integrated Web-based platform. 

About Workscape

Workscape is a leading provider of business-critical HR solutions that enable hundreds of organizations to manage their two largest workforce expenditures: employee benefits and performance-driven compensation.  Workscape’s offerings share a common technology platform, can be readily integrated with existing IT investments, serve millions of employees, and are scalable and configurable to meet the distinct requirements of organizations ranging from 2,000 to over 400,000 employees.  One client uses the company’s award-winning multi-lingual compensation solution to compensate hundreds of thousands of employees across 70 countries.  Workscape’s outsourced benefits administration offerings are backed by U.S.-based 7 x 24 support for managers and employees on policies and processes.

For more information about Workscape, visit www.workscape.com or call (888) 605-9620.