EAGAN, MINN. (March 1, 2022) — GovDocs, one of the leading employment law compliance companies in the nation, announced today its 2021 business report.
The company continued to secure new Fortune 500 clients in 2021 and grew its subscription revenue 22 percent over the previous year, with all three product lines — the GovDocs Update Program, GovDocs Minimum Wage and GovDocs Paid Leave — contributing to that growth. Meanwhile, GovDocs also maintained its stellar client retention rate, coming in at 98 percent for the year.
“Our upward momentum, despite the ongoing impacts of the pandemic, is impressive,” said Zach Stabenow, founder and CEO. “We continued to meet our clients’ needs, launched the first durable, biodegradable labor law poster product in the industry, added new employees and enhanced our software products.”
GovDocs added 108 new clients in 2021, representing some of the largest and most recognizable companies in the U.S.
Among the new customers were the second largest company on the Fortune 500, the 10th largest co-operative company in the world, the nation’s largest dollar store chain, the 10th largest bank in the U.S., the second-largest U.S. commercial property casualty insurance company, the ninth largest technology company in the world, the largest operator of senior housing in the U.S., the 50th largest retailer in the nation and the largest pharmacy chain in the U.S.
Approximately 22 percent of GovDocs’ clients are in the Fortune 500, with more than 30 in the Fortune 100.
“To once again add some of the largest employers in the world as clients in 2021 was fantastic,” Stabenow said. “The caliber of our new and current clients is extraordinary. It’s humbling to have earned the trust of the world’s largest employers.”
GovDocs Goes Green
As environmental sustainability becomes increasingly important for large employers, GovDocs responded in 2021 through a new investment in the company’s production and distribution of durable yet biodegradable labor law posters.
Able to be discarded in the trash, the new poster material immediately begins to break down in a landfill and is durable to withstand harsh environments while displayed for compliance.
Compared with a traditional laminated poster, which takes an estimated 1,500 years to begin to decompose, this significantly reduces the impact on the environment for GovDocs customers.
The unique poster material and a streamlined shipping process reduces annual waste, notably:
- 366,590 shipping tubes weighing 685 tons
- 659,501 posters weighing 53 tons
- 733,180 plastic endcaps weighing 3.6 tons
“We have heard from many clients about their need to increase sustainability and reduce their impact on the environment across their organization, including requests to get help from their partner suppliers,” Stabenow said. “We are excited to deliver to our customers a labor law poster product that is not only compliant and durable, but also environmentally sustaining.”
In addition to being environmentally friendly, the new material is resistant to location wear and tear, as well as exposure to grease, water and chemicals.
Best Places to Work Award
In 2021, GovDocs earned a Best Places to Work award from the Minneapolis/St. Paul Business Journal.
GovDocs was recognized as one of the top 20 medium-sized businesses from more than 300 nominees in the area.
“We were thrilled to be honored as one of the Best Places to Work in the Twin Cities area,” Stabenow said. “Our leadership team works extremely hard to create a positive and supportive work environment, but the foundation of our success is our employees. We have assembled an amazing team and I believe that is why most of us enjoy working here and why the experience was rated so well.”
GovDocs added more exceptional talent in 2021, with new hires in product development, software engineering, client services and marketing, further positioning the company for growth and future product enhancements.
In total, GovDocs hired 13 new employees in 2021, notably Pat Schaber, Director of Marketing. The new employees will help the company continue to drive innovation, respond to clients’ needs and strengthen product development.
Though the pandemic still limited in-person client interaction in 2021, GovDocs held a virtual Client Advisory Board (CAB) meeting in October.
In its fifth year, the GovDocs CAB is comprised of selected industry thought leaders to help the company define future deliverables in helping customers simplify the multilayered challenges of employment law compliance for large enterprise (multi-location) companies.
The group regularly meets (albeit virtually in 2021) to share insights and best practices with each other to shape not only GovDocs’ solutions, but the future growth of the employment law compliance industry.
Also, GovDocs in 2021 launched Compliance and Coffee, a virtual roundtable bringing together HR and compliance professionals to discuss the employment law issues of the day. Led by Jana Bjorklund, GovDocs Senior Counsel and Director, Employment Law and Compliance, the events are meant to be conversational, with industry professionals using each other as sounding boards and discuss what’s working (and what isn’t) in the world of employment law compliance. Topics in 2021 included:
- The New Face of Remote Work
- The Push for Diversity, Equity and Inclusion
- How Are You Managing COVID-19 Today?
This multifaceted dedication to client service and innovation is reflected in the company’s Net Promoter Score, which measures client experience and predicts business growth. In 2021, that figure was 78, while the software-as-a-service industry benchmark is generally closer to 40.
While COVID-19 has put a damper on community involvement, GovDocs employees masked up in 2021 and did their part.
A major part of the GovDocs company culture, volunteering continued last year, with employees taking time out of their day to give back. Among the organizations for which employees volunteered in 2021 included Great River Greening, Habitat for Humanity and Feed My Starving Children.
“We are proud to be an active part of our community,” Stabenow said. “We are fortunate that our creative and dedicated team can balance customer success with doing good and giving back.”
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.