Summary

GovDocs added 112 new clients in 2022, among them some of the largest and most recognizable companies in the U.S.

GovDocs Reports Exceptional Growth in 2022

FOR IMMEDIATE RELEASE (FEB. 17, 2023) EAGAN, MINN. — GovDocs, one of the nation’s leading employment law and compliance companies, announced today its 2022 business report.

The company once again secured new Fortune 500 clients in 2022 and grew its subscription revenue 27 percent over the previous year, with all three product lines — the GovDocs Labor Law Poster Program, GovDocs Minimum Wage and GovDocs Paid Leave — contributing to that growth, as well as the GovDocs Intranet Poster Program.

Meanwhile, GovDocs maintained its stellar client retention rate in 2022, coming in at 97 percent for the year, which aligns with its historical figures and is well ahead of the industry average of about 40 percent.

“We’re proud to have continued our upward trajectory in 2022,” said Zach Stabenow, GovDocs founder and CEO. “We’ve seen a tremendous amount of legislative employment law compliance changes at all jurisdictional levels in the United States and Canada over the last four years. It’s incredible to see our team keep pace with it and continue to secure the trust of some of the largest employers in the U.S., while maintaining our exemplary retention and further solidifying our reputation as a leader in the industry in 2022. All of this, of course, is attributable to our amazing team.”

Business Growth

GovDocs added 112 new clients in 2022, among them some of the largest and most recognizable companies in the U.S.

Among them are the largest bank in the U.S., the largest hotel chain in the world, the world’s largest food producer by revenue, the largest video game retailer worldwide, largest for-profit childcare organization in the U.S., the 21st largest retailer in the country, the largest data center colocation provider in the world, the world’s largest custodian bank and securities services company, the 50th largest law firm in the U.S., and the largest pharmacy chain in the nation.

In addition, many existing clients added to their suite of GovDocs’ employment law compliance solutions, including the country’s largest aftermarket auto parts retailer, the fourth-largest bank in the U.S. and the seventh-biggest gas station chain in the nation.

“It has been remarkable to see our continued success over the past two-plus decades,” Stabenow said. “The past year was emblematic of GovDocs’ reputation in the marketplace, how we prioritize the needs of our clients and position ourselves for continued growth.”

Staff and Operational Growth

GovDocs added more top talent in 2022, with new hires in software engineering, sales, client services, finance, professional services, marketing, and business systems and operations, further positioning the company for steady growth and future product enhancements.

In total, GovDocs hired 15 new employees in 2022. The new employees will help the company continue to drive innovation, respond to clients’ needs and strengthen product development.

Federal Labor Law Poster Update

GovDocs demonstrated the strength of its labor law poster program after an unanticipated federal update from the U.S. Equal Employment Opportunity Commission in October 2022.

The company announced the new EEOC Know Your Rights poster immediately, client communication was sent out, customers with the GovDocs Intranet Poster Program received access to the poster two days later, and hundreds of thousands of posters were shipped to locations across the country ahead of schedule.

“It had been about six years since the last time a federal posting has updated, and the EEOC posting language came without any advance notice,” Stabenow said at the time. “It was remarkable to see our team come together and answer the bell so quickly and organized, providing peace of mind for our clients and allowing them to focus on other tasks during this busy time of year.”

Client Focus

As part of its position as an employment law compliance through leader, GovDocs again held a virtual Client Advisory Board (CAB) meeting in June 2022.

Now in its sixth year, CAB brings together selected industry leaders to help GovDocs shape the future of company deliverables, further understand the challenges facing large enterprise organizations, and share insights and best practices.

These meetings provide perspective and feedback to enhance current GovDocs solutions and drive more value for clients’ use of GovDocs products. Indeed, many of the products developed through CAB insights become solutions that CAB members use themselves, benefitting from their own input.

The June 2022 virtual event featured executives from some of the nation’s largest employers, along with Jana Bjorklund, Senior Counsel and Director, Employment Law and Compliance, and Chad Frank, Director of Product Strategy.

Company Culture

GovDocs in March 2022 opened an expansive new office space in Eagan, Minn., outfitted to accommodate a flexible hybrid work environment, foster collaboration and meet the needs of the growing company.

“Our leadership team put a lot of thought and effort into creating a welcoming environment for our employees,” Stabenow said. “The new space enhances our technological capabilities and provides a multitude of workspace options, giving our employees flexibility in how they work while setting us up for future growth and innovation.”

The new office, with views of the downtown Minneapolis skyline, is open and airy. Large windows surround the fourth-floor space, which, at 14,016 square feet, wraps around a large portion of the building.

When employees come in, they can choose where they want to work, tailoring their experience to their duties on any given day or moment.

The company also continued its tradition of volunteering for the local community in 2022, logging hundreds of combined hours for worthy organizations, including the Salvation Army, Feed My Starving Children, Second Harvest Heartland and Habitat for Humanity.

About GovDocs

GovDocs is a leader in employment law compliance, helping large, multi-location companies manage the complex world of labor law postings, minimum wage, paid leave and more. The company continues to meet its clients’ needs through a growing suite of innovative products.

With nearly 20% of the Fortune 500 and 30% of the Fortune 50 as clients, GovDocs strives to reinvent the way in which companies remain compliant in the ever-changing employment law landscape.

For employers with fewer than 30 locations, GovDocs offers the GovDocs Poster Store, which simplifies poster compliance across all industries and offers a variety of products to meet labor law compliance needs.

GovDocs simplifies employment law compliance for large, multi-jurisdiction employers in the U.S. and Canada. The GovDocs platform integrates three solutions in one convenient place to help businesses master the employment laws impacting their operations. Whether managing postings, minimum wage, or paid leave programs, GovDocs’ products save time, provide proactive insights into employment law changes and reduce the risk of noncompliance. For more information, visit govdocs.com.

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