RGP (Nasdaq: RGP), a next-generation global human capital firm, has launched a new digital staffing platform that offers accounting and finance professionals greater flexibility with the safety net of employee benefits – HUGO by RGP.
HUGO by RGP is the first omni-channel platform to offer professional workers the protection, certainty and service benefits of RGP’s employee-based model while retaining the freedom and flexibility inherent in the new gig economy. Available exclusively to clients and professionals in the New York Tristate Region, the new platform empowers users with unprecedented transparency, speed and control, as well as the support of RGP’s expert client service team.
RGP is changing the employment paradigm by helping businesses efficiently and effectively match and deploy the right professional talent with skills needed to tackle the clients’ critical initiatives with the perfect mixture of high-tech meets high-touch.
“HUGO by RGP illustrates our commitment to the ‘Now of Work’ and the reality of how clients and professionals want to engage in this environment, With in-demand skill sets growing faster than employers can keep pace, many of our clients are looking to ‘rent’ talent to fill those skills gaps. At the same time, business leaders shouldn’t have to choose between speed and fit. HUGO delivers both as well as transparency and choice to help companies meet their immediate short-term needs in this rapidly evolving ‘Now of Work’ environment—the right candidate, the right skills, the right time and the right rate.”
- RGP CEO Kate Duchene.
For employers, HUGO allows hiring managers to accelerate projects and timelines through a curated pool of accounting and finance consultants with in-demand skill sets—accessible in just a few clicks. The platform provides access to fully automated digital workflows from hiring to onboarding, time reporting and billing, as well as full visibility into candidates’ credentials, experience and rates. RGP’s unique W-2 based employee model also relieves businesses of the costly burdens of HR, payroll and tax requirements.
For candidates, HUGO offers a customized user experience helping them match and land gigs with companies ranging from the Fortune 100 to start-ups. Meanwhile, the W-2 based model offers candidates benefits and membership of traditional employment such as earned paid time off, healthcare coverage, access to development and training, as well as RGP’s community of nearly 5,000 professionals around the globe.
“Greater flexibility is the key to success in the changing employment landscape and we’re proud to be pioneering a high-tech meets high-touch model that truly represents the state of how flexible work is being done, HUGO represents the next digital evolution of RGP’s agile business model by matching borderless talent with borderless business needs. HUGO’s professionals are all W-2 employees of RGP, creating a workplace environment that embraces flexibility, collaboration and human connection, while promoting a sense of community and belonging.”
- Stephen DelVecchia, Head of Digital Engagement/HUGO by RGP.
Led by industry veteran Stephen DelVecchia, the HUGO team is supported by Head of Platform Success Marcie Levy, and Head of Technology Gary Lee.
HUGO is now available to accounting and finance professionals in the New York Tristate region and will be introduced in other markets and industry sectors as the platform continues to roll out.
RGP (Nasdaq: RGP) is a next gen global human capital firm helping clients match the right professional talent needed to tackle change and transformational initiatives. Disrupting the professional services industry since 1996, RGP is the now of work—attracting the best talent in an increasingly fluid gig-oriented environment. Based in Irvine, CA., with offices worldwide, RGP’s agile human capital model attracts top-caliber professionals with in-demand skill sets who seek a workplace environment that embraces flexibility, collaboration, and human connection. The company’s winning value proposition has made them the leading provider of agile professional services to help clients transform their businesses and workplaces. With more than 5,000 professionals, RGP annually engages over 2,100 clients internationally, including over 85% of the Fortune 100.
Clearlake Capital Group, L.P. (together with its affiliates "Clearlake") announced that it has completed its acquisition of Cornerstone OnDemand, Inc. (NASDAQ: CSOD, "Cornerstone OnDemand", or "Cornerstone"), a global leader in talent management software. The acquisition was previously announced on August 5, 2021, and was approved by Cornerstone OnDemand shareholders on October 12, 2021. Under the terms of the agreement, Clearlake has acquired the outstanding shares of Cornerstone common stock for $57.50 per share in cash. As a result of the transaction, Cornerstone is now a privately held company and shares of Cornerstone common stock are no longer listed on the public market.
The acquisition combines Cornerstone's product and industry leadership with Clearlake's proven software investment experience and operational improvement approach, O.P.S.®, to strengthen and accelerate the company's next phase of growth and innovation.
"Clearlake's investment in Cornerstone is an exciting and important step for our company and our customers, Clearlake has shown immense confidence in our talented team and the direction we are headed. With their financial sponsorship to invest behind growth, we will have even greater opportunity to accelerate innovation and advance our customers' efforts to ensure their organizations – and people – are future-ready."
- Phil Saunders, CEO, Cornerstone.
"Cornerstone has done a tremendous job providing best-in-class software solutions to a large base of global customers, We are thrilled to partner with the company's talented employees and believe that Cornerstone is well positioned to continue building on its strong leadership position for talent management SaaS solutions, both organically and through accelerated add-on acquisition activity."
- Behdad Eghbali, Co-Founder and Managing Partner, and Prashant Mehrotra, Partner, of Clearlake.
Qatalyst Partners and Centerview Partners LLC served as financial advisors to Cornerstone, and Cooley LLP served as legal counsel. Morgan Stanley, Rothschild & Co., J.P. Morgan, Goldman Sachs, BoA Securities, Barclays, Jefferies and William Blair served as financial advisors to Clearlake. Sidley Austin LLP and Paul, Weiss, Rifkind, Wharton & Garrison LLP served as legal counsel to Clearlake in the connection with the acquisition and debt financing. J.P. Morgan, BoA Securities, Ares, Golub, Antares, Barclays, Blue Owl, BMO Capital Markets, BNP Paribas, Credit Suisse, Goldman Sachs and Jefferies provided debt financing for the transaction.
Cornerstone powers the future-ready workforce with adaptive HR software designed to unite people, teams, technology and business to inspire a work environment of growth, agility and success for all. With an AI-powered and skills-forward system designed for the contemporary workforce, we help organizations modernize their learning and development experience, deliver the most relevant content from anywhere, accelerate talent and career mobility and establish skills as the universal language of growth and success across their business. Cornerstone serves over 6,000 customers and 75M users and is available in 180 countries and 50 languages.
Founded in 2006, Clearlake Capital Group, L.P. is an investment firm, operating integrated businesses across private equity, credit, and other related strategies. With a sector-focused approach, the firm seeks to partner with world class management teams by providing patient, long term capital to dynamic businesses that can benefit from Clearlake's operational improvement approach, O.P.S.® The firm's core target sectors are technology, industrials, and consumer. Clearlake currently has over $50 billion of assets under management, and its senior investment principals have led or co-led over 300 investments. The firm has offices in Santa Monica and Dallas.
TeamSense, the text-based HR technology created by manufacturing insiders from GM and Whirlpool built to connect hourly workers and their employers, has launched a new product for the hourly worker recruitment process called "Text-to-Apply". Designed specifically for hourly workers, TeamSense does not require an applicant to have a computer or email address, nor do they need to download an application on their phone. Used by companies in industries ranging from automotive and aerospace to healthcare and home-building, TeamSense launched as a COVID symptom tracking tool and added attendance and engagement features for hourly employees before being acquired by innovative industrial conglomerate Fortive.
Text-to-Apply was developed when a forward-thinking HR manager at one of TeamSense's customers suggested that TeamSense's unique texting capability could be used for recruiting. Amanda Patoka is an HR Manager for Flexo Solutions, a division of Hunter Douglas, and saw an opportunity to enable applicants to quickly and easily engage with the company via text.
Ms. Patoka's collaboration with TeamSense led to Text-to-Apply, where organizations can establish branded text keywords for recruiting. For Hunter Douglas, texting "HD Jobs" to 592-30 automatically responds with a link directing the applicant to the company's applicant tracking system. The keyword costs manufacturers just $95 a month and requires no integrations with existing infrastructure.
Text-to-Apply simplifies and expands the access point for applicants to enter into the hiring process. A simple text keyword can be used to attract applicants in any environment, from a sign outside a company's headquarters, in neighborhoods, to business cards that can be handed out at public events or used in advertising.
"Text-to-Apply sits on top of an existing applicant tracking system, We are not the payroll or benefits provider, but we are the connective tissue for an existing HR tech stack. Given the labor shortage, I've seen manufacturers spending $3000-$8000 in bonuses to hire one hourly worker. When you need large teams of 100's and 1000's of workers, that is not sustainable, but $95 a month is."
- Sheila Stafford, CEO of TeamSense.
"It is estimated that four million manufacturing jobs need to be filled from 2020 to 2030, Hourly workers often don't have emails, and may not have home computers, but they do have cell phones."
- cofounder Alison Teegarden.
"We started using TeamSense to track COVID symptoms for several thousand employees. It wasn't long before we realized this tool would be very helpful for other processes - from engagement surveys to our hiring process. We are an organization focused on innovation for the sake of our customers and our teams, and TeamSense has provided a platform to re-think how we connect with and engage - and even recruit - our employees."
- Mary Beth Archer, VP of HR and Employee Support Services at Hunter Douglas.
TeamSense is the leading app-free, text-based digital platform tool developed to manage hourly workers by manufacturing veterans whose understanding of what keeps a factory running makes it the #1 choice for multinational employers from Hunter Douglas to Pella Windows. Based in Everett, Washington, TeamSense is wholly owned by Fortive, a leader in industrial technology.