ST. PAUL, MINN. (Feb. 19, 2021) — GovDocs, one of the nation’s leading employment law compliance companies, announced today its 2020 business report.
Despite the challenges of the COVID-19 pandemic, GovDocs continued to expand its suite of products, garner new Fortune 500 clients, and grow its subscription revenue by 16 percent, all while maintaining a 98 percent client-retention rate.
“We’re proud to have continued our upward trajectory during a difficult 2020,” said Zach Stabenow, GovDocs founder and CEO. “We responded to the needs of our clients, launched GovDocs Paid Leave, enhanced our technological capabilities and expanded our customer base.”
In 2020, GovDocs added nearly 120 new clients. The list includes some of the nation’s largest employers in retail, finance, health care and manufacturing.
Among them are the world’s largest printing company, the biggest data center colocation provider in the world, the sixth largest shoe company in the world, the second largest auto insurer in the U.S., the nation’s sixth largest hotel management company, the biggest independent tire and wheel retailer in the world and the world’s largest hotel chain.
Approximately 20 percent of GovDocs’ clients are in the Fortune 500, with nearly 30 in the Fortune 100.
“It has been remarkable to see our success over the past two-plus decades,” Stabenow said. “To add more of the world’s largest employers during the past year was incredible.”
In May 2020, GovDocs Paid Leave software product was launched.
The product simplifies the process of managing paid leave for large, multi-jurisdiction employers, applying paid leave laws specific to each location. Just months after its launch, GovDocs has 10 Paid Leave clients, with more onboarding each month.
“The response to our Paid Leave solution has been exciting to see,” Stabenow said. “Our clients asked for help managing paid leave, which became more pressing with the onset of the pandemic. The rapid expansion of paid leave laws at the state and local levels of government has challenged HR teams. Our application makes their compliance efforts much simpler.”
Meanwhile, GovDocs Minimum Wage surpassed the 100-client mark, less than four years after its initial launch.
The GovDocs Update Program, along with its proprietary PosterCheck®, continues to set the industry standard for labor law poster compliance, providing posting updates to hundreds of thousands of locations. ComplianceCheck℠ saw additional enhancements in 2020, as well.
Staff and Operational Growth
GovDocs continued to add top talent in 2020, with new hires in legal, software development and product management, positioning the company for further enhancements to existing solutions and paving the way for new products in the future.
In all, GovDocs made 22 new hires in 2020, notably Jeremy Van Beusekom, Vice President of Operations, and Chad Frank, Director of Product Strategy. These new employees will help the company continue to drive innovation, respond to clients’ needs, and bolster product development.
The company also invested in technology and developed new methods to support the scale of its production, fulfillment and warehouse operations to meet the growing demand of the Postings Update Program.
While the coronavirus limited face-to-face client interaction in 2020, virtual roundtables enabled GovDocs to continue its Client Advisory Board meetings.
Initially formed in 2019 to focus on minimum wage compliance, the meetings have expanded to give industry leaders the chance to share best practices, explore compliance strategies and hear from one another.
“It is invaluable to be able to meet with industry experts and exchange best practices,” Stabenow said. “The incredibly smart and analytical people who are part of our client base provide insight into where employment law compliance is headed, and we try extremely hard to put that perspective to work by developing and refining our solutions.”
That dedication to client service and innovation is reflected in the company’s Net Promoter Score, which measures client experience and predicts business growth. In 2020, that figure was 79, while the software-as-a-service industry benchmark hovers around 40.
Though the coronavirus put various physical-distancing limitation on GovDocs commitment to community involvement, employees still made an effort to volunteer in the area, including helping build a home for Habitat for Humanity and lending a hand at Women’s Advocate, a local nonprofit domestic violence shelter.
“We’re fortunate to have a group of creative professionals who can balance a focus on our clients’ success while maintaining our company culture of giving back,” Stabenow said.
GovDocs simplifies employment law compliance for large, multi-jurisdiction employers in the U.S. and Canada. The GovDocs software platform integrates three solutions in one convenient place to help you master the employment laws impacting your business. Whether you manage a postings, minimum wage or paid leave program, our products cut through research time, provide proactive insights into the everchanging landscape of employment laws and reduce the risk of noncompliance.