Quantum Workplace Secures Funding From LLR Partners

Quantum Workplace | January 17, 2022

Quantum Workplace, a premier employee performance and engagement solutions provider, recently announced that it secured investment funding from a private equity firm, LLR Partners. Quantum Workplace is also known for being at the forefront of data collection for Best Places to Work Programs. With the partnership, both firms expect to leverage Quantum’s rapid growth by investing in cutting-edge software solutions and strategic growth opportunities within the industry.

Quantum Workplace CEO, Greg Harris, leads the company’s commitment to improving work experiences for millions of employees and providing them forums through innovation in the Best Places to Work Program software. The company was founded in 2002 and has metamorphosed into a premier provider of organizational assessment applications and comprehensive employee engagement, people intelligence, and performance management platforms.

“LLR’s significant experience in the HR technology space, coupled with the deep knowledge and capital resources they bring growing and scaling leading software businesses, makes them a strong, strategic partner for us. We look forward to the guidance LLR will afford the Company. This investment will aid in bolstering our sales and marketing efforts, accelerating our advancement in data science, and unlocking new strategic partnerships and acquisitions, With the war for talent becoming the thing employers struggle with most right now, we’re squarely in the middle of a very exciting market. We know there is an undeniable link between engagement, performance and retention, and employee success is critical to business success. With this funding, we believe we are well positioned to seize this enormous opportunity and achieve a new level of scale and growth by expanding our product portfolio as we help companies further leverage their talent to drive the growth and success of their businesses.”

- Quantum’s CEO, Harris

“As LLR’s long-time investment focus on HR tech evolved over the past two years, it became clear that the remote/hybrid workforce model is here to stay. There is increased importance to engage employees and conduct continuous performance conversations amid this competitive, hybrid environment. Quantum Workplace has emerged as one of the leaders in both areas, leveraging unrivaled analytics capabilities to draw essential connections between employee engagement and performance.”

- Sasank Aleti, partner at LLR Partners

Spotlight

Lattice for Banks and Credit Unions

Learn how Lattice’s People Success Platform helps banks and credit unions build engaged, high-performing teams.

More featured news

Spotlight

Lattice for Banks and Credit Unions

Learn how Lattice’s People Success Platform helps banks and credit unions build engaged, high-performing teams.

Related News

WORKFORCE MANAGEMENT

Quantum Workplace Launches Turnover Dashboards to Help HR Leaders Retain Top Talent

Quantum Workplace | November 09, 2022

Quantum Workplace, a leading provider of comprehensive employee engagement and performance software, as well as the leader in data collection for the nationally recognized Best Places to Work Programs, launched today Turnover Dashboards to help HR leaders be more strategic with organizational retention strategies. According to U.S. Bureau of Labor Statistics data, quit rates are as high as they were during the peak of the Great Resignation. Quantum Workplace data shows that one in three employees said their departure from their last organization was preventable and 62% of employees discussed their decision to leave with a manager or coworker prior to leaving. When it comes to the recent turnover trends, Quantum Workplace research shows the top three reasons employees left their organization were due to a lack of career growth, pay, or because they felt undervalued or underappreciated. Many times employee turnover is preventable. When organizations leverage people analytics, they're able to determine the reasons employees leave and create strategies to combat turnover and retain top talent. Quantum Workplace's standardized turnover dashboards combine findings from employee lifecycle surveys with HRIS data to help HR leaders discover causes of turnover, which employees might be a retention risk, and what changes would retain top talent. "Now, more than ever, HR needs a partner to provide insight into what is going on deep within their organization so they can make more informed decisions and mitigate unwanted turnover, The Turnover Dashboards make it easy to visualize and explore historical data and predict turnover, empowering leaders at every organization with easy-to-digest information so they can build a culture that attracts and retains top talent." -Quantum Workplace CEO Greg Harris Turnover Dashboards are part of Quantum Workplace's Intelligence Dashboard, which helps HR leaders connect the dots across their engagement data to drive employee and business success. About Quantum Workplace Quantum Workplace, a human resources technology provider, equips workplaces with the smartest talent solutions so that they can grow and succeed. Nearly 20 years ago, the Company pioneered some of the earliest employee engagement and performance software and has since partnered with thousands of organizations to drive employee, team and business success.

HR ANALYTICS,RECRUITMENT & RETENTION

New Paychex Products Help Businesses Improve Recruiting, Hiring, Onboarding, and Retaining their Employees

Paychex | November 07, 2022

Paychex, Inc., a leading provider of integrated human capital management software solutions for human resources, payroll, benefits, and insurance services, has announced new enhancements designed to help improve the employee experience from pre-employment through retention. The latest products and solutions help provide a seamless experience for both employers and employees using Paychex Flex®, the company's SaaS-based HR application, as well as the customized service and HR advisory support available from Paychex. "Now more than ever, a positive first impression with a prospective employer is essential. HR technology plays a critical role in how employers meet candidates, extend offers, digitally onboard, and retain employees through the first 90-days, when the chance for turnover is at its highest, The products included in our most recent release were developed to strengthen the employer-employee relationship and support businesses as they prioritize their workforces to create better experiences for increased employee retention and satisfaction." -Tom Hammond, vice president of corporate strategy and product management The 2022 Paychex Pulse of HR Report, an annual study commissioned by Paychex that provides an in-depth look at how HR leaders are adapting to support employees in a new era of work, found that 50% of respondents say that their organizations are not effective at hiring, onboarding, and retention. The following solutions and product enhancements make up the current Paychex product release and the company's efforts to enhance the employee lifecycle and experience: Paychex Flex Hiring: Makes hiring easier by automating tasks and actions for clients to quickly recruit and hire new talent. This Paychex Flex feature assists clients with a variety of recruitment tactics, from posting a job to digitally sending offer letters to top candidates. Paychex research has shown that three out of four clients surveyed said they have shortened the time required for recruiting, screening, tracking, and onboarding of new employees through using Paychex Flex. An average time savings of 26% was reported by those clients that reported a shortened timeframe. For example, a client's two-month recruiting and hiring cycle could be reduced to six weeks. Paychex Flex Onboarding: Simplifies the onboarding experience by integrating essential steps directly within Paychex Flex. Advancements allow new hires to complete critical documentation, including direct deposit authorization, W4, state withholding forms, and Form I-9s from the device of choice for a paperless onboarding experience. Paychex Flex Time: Helps create a seamless and unified experience for Paychex Flex Time admin and employee users for controlling scheduling needs, managing time off requests, approving employee timecards, and reviewing data to ensure accuracy for pay periods. Flock Benefits Administration by Paychex: Provides clients with industry-leading benefits administration technology with advanced features and a best-in-class customer experience. This product helps makes insurance accessible to employees through easy-to-use enrollment workflows and in-app video tutorials that drive employee self-service and efficiency for employers managing benefits. Paychex Voice Assist: Provides a new way for payroll admin users to complete payroll and HR-related functions and tasks. Users can now complete payroll from anywhere simply by saying "Hey Google, Talk to Paychex Flex" on any Google Assistant™--enabled device. Paychex Voice Assist is a natural extension of the company's expansive self-service capabilities. Continuous market research allows us to leverage quantitative data to quickly address the business needs and challenges of our clients, Our most recent research revealed that 97% of Paychex clients said an online portal for employee self-service or HR-related tasks from any device or location was very or extremely important to strengthening employee relationships. The fall product release brings intuitive solutions to market that support businesses and enhance the employee experience,added Maureen Lally, vice president of marketing for Paychex. About Paychex Paychex, Inc. (Nasdaq: PAYX) is a leading provider of integrated human capital management solutions for human resources, payroll, benefits, and insurance services. By combining innovative software-as-a-service technology and mobility platform with dedicated, personal service, Paychex empowers business owners to focus on the growth and management of their business. Backed by 50 years of industry expertise, Paychex serves more than 730,000 payroll clients as of May 31, 2022 in the U.S. and Europe, and pays one out of every 12 American private sector employees.

COMPENSATION MANAGEMENT,WORKERS COMPENSATION

Salary.com Announces Mercer Reseller Agreement, Expanding Availability of Trusted Compensation Data

Salary.com and Mercer | December 15, 2022

Salary.com, the market leader in cloud-based compensation software and data solutions, today announced a reseller agreement with Mercer, a leading global HR consulting and asset management firm. The agreement makes Mercer surveys available to Salary.com's 8,000+ survey and B2B software subscribers. "With increased calls for wage transparency and a very tight labor market, getting pay right is no longer a goal, it's an imperative, This partnership allows our customers to purchase trusted data delivered by industry leaders Mercer and Salary.com. Now, our customers can manage their surveys through a single vendor and reduce survey gaps by using multiple sources." -Kevin Plunkett, Vice President of Partnerships at Salary.com Industry-leading salary surveys combined with award-winning technology Mercer survey data is a prestigious addition to Salary.com's comprehensive survey portfolio which includes Compdata and IPAS and totals 100+ top surveys across industries and functional areas. The partnership gives Salary.com customers the added benefit of access to more than 90 Mercer US and Canadian surveys across a variety of industries, including Mercer Benchmark Database. Customers can also combine Mercer survey data with Salary.com's CompAnalyst Enterprise platform to: Simplify survey management and analysis with a single, centralized library for all compensation data sources. Create market composites based on survey cuts from CompAnalyst Market Data, Compdata, IPAS, and Mercer surveys. Easily match and price multiple jobs, job families, and entire surveys across one or more job location. HR professionals are tasked with the challenge of keeping pace with an extremely fluid job market, Accurate, HR-reported data is a critical component of getting pay right, which in turn is a major driver of attracting and retaining the best talent,said Plunkett. About Salary.com Salary.com® is the leading provider of compensation market data, software, and analytics, bringing more of the trusted data and intuitive software organizations need to get pay right. The industry's fastest-growing compensation management company, Salary.com serves over 30,000 survey participant organizations, over 8,000 business-to-business software subscribers, and over 60 million employees globally. HR professionals rely on Salary.com's 360° view of their compensation practices so they can efficiently and accurately achieve pay equity and adapt to market changes. Salary.com's state- of-the-art CompAnalyst® accelerates compensation workflows, delivers real-time data, and powers accurate, equitable and competitive compensation through one intuitive platform. About Mercer Mercer believes in building brighter futures by redefining the world of work, reshaping retirement and investment outcomes, and unlocking real health and well-being. Mercer's approximately 25,000 employees are based in 43 countries and the firm operates in 130 countries. Mercer is a business of Marsh McLennan (NYSE: MMC), the world's leading professional services firm in the areas of risk, strategy and people, with 86,000 colleagues and annual revenue of over $20 billion. Through its market-leading businesses including Marsh, Guy Carpenter and Oliver Wyman, Marsh McLennan helps clients navigate an increasingly dynamic and complex environment.