Delta gave its employees 2 months of extra pay. Here's why that's good business

Delta Air Lines | January 21, 2020

Delta Air Lines had a very good year last year. Instead of just verbally thanking its employees for the company's strong performance, it announced it would pay them $1.6 billion in profit-sharing bonuses. That means every eligible employee will receive a check next month for 16.6% of their annual salary, which is the equivalent of an additional two months' pay. "Delta would be nothing without our 90,000 people. They deserve all the credit," Delta CEO Ed Bastian said on LinkedIn. The profit payout to employees for 2019 is a record amount. It is also the sixth year in a row that the company has paid out more than $1 billion to workers, a Delta spokesperson said. The profit-sharing plan started in 2012 following Delta's merger with Northwest. The company's profit-sharing bonus is on top of all the other financial benefits it normally provides employees, such as a 401(k) match and other bonus programs for rank-and-file workers, according to the spokesperson.

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Hear how SAP has helped transform the HR function at McLaren Technology Group end-to-end. Using SAP SuccessFactors Recruiting has enabled them to minimize transactional activities, do trend analysis to gain insights into the type of people they are recruiting, as well as gain a single source of truth into their pool of talent.

Spotlight

Hear how SAP has helped transform the HR function at McLaren Technology Group end-to-end. Using SAP SuccessFactors Recruiting has enabled them to minimize transactional activities, do trend analysis to gain insights into the type of people they are recruiting, as well as gain a single source of truth into their pool of talent.

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HR ANALYTICS

Accenture Acquires Workforce Insight LLC, Escalating Enterprise Employees Management Skills

Accenture | July 22, 2021

Accenture recently shared news of acquiring Workforce Insight LLC., a workforce advancement consultancy that offers workforce management and human capital management advisory and technology services. This acquisition has boosted Accenture’s employee management abilities and further reinforces its capability to deliver Human Resource transformation to clients. Established in 2006, Workforce Insight headquarters in Denver, Colorado, is a UKG, Workforce Software, and Workday solutions provider, helping clients across the manufacturing, healthcare, implement and adopt optimal workforce strategies, technologies, and retail and public sector industries evaluate. Workforce Insight’s talent management team of nearly 300 professionals are joining Accenture’s workforce management practices, part of the Intelligent Platform Facilities group, intensifying its advisory and planning abilities and providing complimentary data and analytics technology solutions. However, the financial terms and conditions of the transaction were not disclosed as per the last update.

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WORKFORCE MANAGEMENT

Torii Announces $10M Series A Funding to Automate SaaS Management

Torii | February 22, 2021

Israel-based start-up Torii Labs LTD is a Software-as-a-Service (SaaS) management company. Announce, a $10 million Series A financing round to automate software management in the company. The financing was led by Wing Venture Capital together with the company's existing investors Global Founders Capital GmbH, Uncork Capital, Scopus Ventures Management LLC, and Entrée Capital. Wing VC Partner Jake Flomenberg is also joining Torii's Board of Directors. The adoption of SaaS continues to accelerate organizations' ability to work from anywhere, improved productivity and user experience. As the number of SaaS tools grows, the level of sophistication, connectedness, and integration also increases. However, the technology stack has become unmanageable without considerable, dedicated IT resources. Uri Haramati, co-founder and CEO, Torii Labs LTD said, "We've reached the point where SaaS can no longer effectively be managed by humans. The enterprise needs a way of managing SaaS usage, spend and security that will scale and keep employees happy but won't impact agility and growth. With companies deploying on average 20-plus new SaaS applications every month, this can only be achieved with intelligence-driven automation." Automation is present across every facet of Torii's platform, helping companies make accurate intelligence-driven choices relating to software usage, spend, and compliance. Automated, no-code workflows - Torii's Orchestration Engine offers an easy-to-use no-code engine to create and deploy automation workflows for every SaaS application. Automated discovery - Torii's Unified Software Graph uses ML to analyze millions of events and data points across identity management systems, Enterprise Resource Plannings (ERP), collaboration platforms, Human Resources systems, expense management systems, and internet browser extensions. Automated app management - Torii offers a single, combined view of all discovered apps to provide complete transparency into enterprise-wide SaaS usage and spend. Torii boasts deep integration with 100+ SaaS applications, 25% of which can be fully managed. Using Torii, Rock Content, a global leader in content marketing, has automated SaaS applications discovery, spend management, and employee onboarding and offboarding. João Dobbin, Manager of Business Enablement, Rock Content said. "Torii transformed our employee onboarding and offboarding. We've reduced IT hours spent on offboarding by 75%. And it has helped us to improve internal controls and played a vital role in a successful SOC2 audit. We've benefited greatly from Torri's governance capabilities, gaining visibility into SaaS use, contracts, and costs. Using Torii, we rationalized our SaaS applications usage and saved more than a million dollars." Torii's revenues grew 400% year-over-year in 2020. Across its customer base, Torii is presently monitoring and optimizing more than $1B in total software spend and more than $4B in total transactions. The company is developing new intelligence features including compliance readiness, automatic software recommendation, and cost allocation. Jake Flomenberg, Partner at Wing Venture Capital said, "Over the past decade SaaS has gone from the exception to the norm. With the interconnectedness and ease of data collection that SaaS affords, it is possible to unlock far more efficiency gains in the realm of software management through intelligence-driven automation than was possible on-premise." With the new funding, Torii Labs LTD will expand its engineering and data science teams in Israel and commercial teams in the US.

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REMOTE WORKFORCE

Aspire Software Strengthens Workforce Management Portfolio with Acquisition of Manus Software

Valsoft Corporation | September 03, 2021

Valsoft Corporation Inc., a Montreal-based company specializing in the acquisition and development of vertical market software businesses, is pleased to announce the acquisition of Manus Software & Services Holding BV (Manus Software), an industry leader in workforce management software solutions. Based in Hendrik Ido Ambacht, in The Netherlands, Manus Software has built a strong reputation of integrating flexible and hybrid solutions to their clients' diverse workforce management systems. The acquisition of Manus Software provides a powerful boost to Aspire Software's (an operating group of Valsoft) presence in the workforce management vertical. With over 30 years in the industry, Manus Software is a leading solution provider for workforce planning and time management in the European market. Their specialty in optimizing human resources and time evaluation allows for operations to be as efficient, accurate and effective as possible. "By becoming a member of the Valsoft group, further investments in our product suite and growth are ensured," says Jan-Willem van der Boom, founder and CTO of Manus. "The focus of Manus has always been providing the best possible and most accurate solution to our customers, based on experience and knowledge of our team. I'm glad we were able to take this step and look forward to being closely involved for many years to come." "I am very happy that Manus has become a part of the Valsoft / Aspire group," said Jan-Willem van Riet, co-owner and CEO at Manus Software & Services Holding BV. "Already during the acquisition process, they showed themselves to be involved and knowledgeable in the field of software development and implementation." With this latest acquisition, Manus becomes the second company in the workforce management industry to join the Aspire Software family along with Softbrick. Thanks to joining Aspire Software, Manus will now have the opportunity to not only further strengthen their presence in the European market, but to expand globally. Manus Software owners Jan-Willem van Riet and Jan-Willem van der Boom will stay on board to maintain Manus Software's stellar reputation among clients as the company grows. "For Manus, this gives us the opportunity to make the most of the post-Covid period, in which we expect (and already notice) that a larger number of companies will be needing WFM software to help them get the right employee, in the right moment, for the appropriate amount, with the right skill set in the right place," says van Riet. "Being bigger and better funded, we can bring even better service to our present and future customers from a stronger position." One of Valsoft's core principles is to invest in established organizations and form an entrepreneurial environment that allows an organization to grow as a leader in its respective industry. Valsoft is not a private equity or venture capital organization, as it aims to sustainably grow organizations through long-term partnerships with existing management. "Joining forces with Manus Software helps to reinforce our presence and strategy in the workforce management vertical. We are delighted to share the same values with Jan-Willem van Riet and Jan-Willem van der Boom: a passion for innovation, world-class customer experience and a desire to grow." said Michael Assi, CEO of Aspire Software, an operating group of Valsoft. "We look forward to supporting the Manus Software team in furthering their vision and accelerating its growth plan." Under the Valsoft umbrella of companies, Manus will continue to work with clients to provide fact-based, data-driven solutions and ensure they are as efficient and profitable as possible. Valsoft was represented internally by General Counsel David Felicissimo and assisted by Pamela Romero and external counsel Joost Houtman of Lexence. Manus shareholders were represented by Hann Oude Grote Bevelsborg of AttLaw. About Manus Software Manus is Europe's favourite solution provider for workforce planning and time management. With over 30 years of experience, we are famous for integrating flexible and hybrid connectivity solutions into our clients' diverse workforce management systems. Our solutions are fact-based, data-driven, and always compliant. We are the European thought leader, with a get-the-job-done mentality and sophisticated software solutions. Our unique Evaluated Time functionality helps large international companies comply with local legislation and business rules, allowing our clients to gain control over their business operation. About Valsoft Corporation Valsoft Corporation acquires and develops vertical market software companies through which each business can deliver the best mission-critical solutions for customers in their respective industry or niche. A key tenet of Valsoft's philosophy is to invest in well-established businesses and foster an entrepreneurial environment that shapes a company into a leader in its respective industry. Unlike private equity and VC firms, Valsoft does not have a predefined investment horizon and looks to buy, hold, and create value through long-term partnerships with existing management and customers. About Aspire Software Buy. Enhance. Grow. Aspire Software, an operating group of Valsoft Corp, is a vertical acquisition software company that owns, operates and manages a portfolio of companies in various industries. Aspire constantly seeks opportunities in various verticals. Aspire's team of entrepreneurs and business builders have an unwavering commitment to developing our brands and expanding into new markets. It is all made possible thanks to its decentralized management strategy and indefinite hold period.

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