Leading Employment Law Management Provider Grows Client Base by 19%, Celebrates 98% Client Retention Rate in 2017
ST. PAUL, MINN. (Jan. 25, 2018) – GovDocs, one of the leading employment law management providers in the U.S., released its 2017 business results today, announcing the addition of more than 100 new clients and a 98% customer retention rate.
GovDocs’ Employment Law Management (ELM) solutions, including the flagship Update Program and new data application GovDocs Minimum Wage, help large companies in the U.S. and Canada manage their labor law compliance programs, ensuring all company locations are multi-jurisdiction compliant with the rapidly increasing complexity of federal, state, county, city and provincial employment laws.
“2017 marks another outstanding year of growth for GovDocs,” said CEO Zach Stabenow. “We set a high bar and are proud of the yearend results. We launched two highly innovative products, formed an impressive Client Advisory Board and continued to build an expert GovDocs team, all while bringing on new clients and maintaining a stellar client retention rate.”
Client Base Continues to Grow
In 2017, GovDocs grew its client base by 19%, gaining more than 100 new clients who represent a wide range of industries, including retail, restaurants/hospitality, telecommunications, manufacturing, professional services, financial services and healthcare. Of this group, 12% are on the Fortune 500; and 21% of new retail clients are on the National Retail Federation’s 2017 Global 250 list.
Notable new clients include a leading global apparel retailer; the largest wireless telecommunications provider in the U.S.; the second largest bank in Canada; the third largest U.S. pizza chain; and the fifth largest industrial supply company in the U.S.
New Products Simplify ELM Processes
As part of the company’s commitment to building software and print products that ease the challenges of employment law management for large, multilocation employers, GovDocs launched two new products in 2017.
First, GovDocs Minimum Wage – a web-based application that provides the most up-to-date minimum wage rate data based on a client’s specific locations – was built to specifically address the cumbersome, error-prone process of tracking, applying and communicating minimum wage rates across the organization.
Second, GovDocs Poster Check uses QR code-based technology to give corporate HR and compliance teams real-time, location-level visibility when new or updated labor law posters are displayed.
“We’re proud to introduce these ground-breaking products to the employment law management market,” Stabenow explains. “Both cut through significant challenges in the day-to-day responsibilities in HR, compliance and other related fields, providing data and information on a location-specific basis.”
Events Strengthen Client Engagement
GovDocs kicked off its inaugural Client Advisory Board (CAB), a group of 12 clients representing a variety of Fortune 500 companies and industries. The CAB met twice in 2017 to discuss and advise on today’s ELM experiences, covering a wide range of topics, including minimum wage, federal contractor and employee predictive scheduling.
In addition, the company held three Compliance Roundtables – two hosted by current Client Advisory Board members – in 2017. These interactive sessions bring small groups of HR professionals together to network and discuss all areas of ELM, like pain points, resources and “wish lists” for easing the compliance process.
Stabenow explains, “Both the Client Advisory Board meetings and Client Roundtables are absolutely priceless to the success of our business. These opportunities allow GovDocs, clients and other industry professionals to gain first-hand insight on the issues we face today, as well as help us innovate our product development roadmap.”
Executive Team Adds Vice President of Operations and Finance
To fortify GovDocs’ position as a leading ELM partner, Mark Richards joined GovDocs as Vice President of Operations and Finance in April 2017, overseeing the delivery areas of the business, including technology solutions; compliance and research; production and fulfillment; design and finance. In addition, Mark provides operational and financial support for product development. He comes to GovDocs with experience in finance, operations and marketing at companies, such as SAP, SuccessFactors, RBA Consulting, Carlson Companies and numerous startups.
“Mark is an incredible and much-needed addition to the GovDocs team. His extensive financial and leadership expertise supports our continued efforts to develop innovative solutions that simplify our clients’ employment law management-related issues,” Stabenow said.