HR STRATEGY

TELUS and LifeWorks receive court approval and key regulatory approvals for proposed acquisition

TELUS and LifeWorks | August 12, 2022 | Read time : 03:35 min

TELUS and LifeWorks receive court approval
TELUS Corporation and LifeWorks Inc. today announced that the Ontario Superior Court of Justice (Commercial List) has granted its final order (the Court Approval) approving the plan of arrangement (the Arrangement) in respect of the acquisition by TELUS of LifeWorks previously announced on June 16, 2022.

TELUS and LifeWorks also announced that the Competition Bureau of Canada has issued a no action letter in respect of the Arrangement. Accordingly, Competition Act Approval, as defined and as required by the Arrangement Agreement previously entered into between LifeWorks and TELUS, has been obtained. In addition, the applicable waiting period in relation to the Arrangement under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, has expired (the HSR Approval), with the result that the acquisition is clear to proceed in the United States as well as Canada.

The Court Approval, the Competition Act Approval and the HSR Approval are significant milestones toward closing TELUS’ acquisition of LifeWorks and follows LifeWorks’ shareholder approval, which was obtained at a special meeting of LifeWorks’ shareholders on August 4, 2022. Pending receipt of regulatory approvals in the United Kingdom and Australia, and the satisfaction of customary closing conditions, the Arrangement is expected to proceed to closing which is anticipated to be on or about the fourth quarter of 2022.

“We are pleased to have reached this significant milestone, with clearance to proceed with the TELUS – LifeWorks transaction in Canada and the United States, Importantly, we have seen overwhelming support from LifeWorks’ team members, customers and shareholders, and I am confident that the potent combination of the respective skills and capabilities of LifeWorks and TELUS Health will create a world-leading, end-to-end, digital-first employee primary and preventative healthcare, mental health and wellness platform, covering more than 50 million lives, and growing, on a global basis. We look forward to welcoming LifeWorks employees into our TELUS family so that, together, we can help even more people around the world lead their healthiest and most productive professional and personal lives.”

- Darren Entwistle, President and CEO of TELUS

This is an exciting new chapter for LifeWorks and together with TELUS we will be able to accelerate our shared vision of empowering individuals to take a more proactive role in the management of their health by unifying the continuum of care through digital-first innovations, as well as our unmatched in-person care, Our two organizations are aligned as leading purpose-driven companies that are committed to improving the lives of people around the world, said Stephen Liptrap, President and CEO of LifeWorks.

About TELUS Corporation
TELUS is a dynamic, world-leading communications technology company with $17 billion in annual revenue and 17 million customer connections spanning wireless, data, IP, voice, television, entertainment, video, and security. Our social purpose is to leverage our global-leading technology and compassion to drive social change and enable remarkable human outcomes. Our longstanding commitment to putting our customers first fuels every aspect of our business, making us a distinct leader in customer service excellence and loyalty. The numerous, sustained accolades TELUS has earned over the years from independent, industry-leading network insight firms showcase the strength and speed of TELUS’ global-leading networks, reinforcing our commitment to provide Canadians with access to superior technology that connects us to the people, resources and information that make our lives better.

TELUS Health is Canada’s leader in digital health technology, improving access to health and wellness services and revolutionizing the flow of health information across the continuum of care. TELUS Agriculture & Consumer Goods is a global technology provider of innovative data insights and digital solutions, creating a unified, trusted and sustainable value chain. TELUS International is a leading digital customer experience innovator that designs, builds, and delivers next-generation solutions, including AI and content moderation, for global and disruptive brands across high-growth industry verticals, including tech and games, communications and media and ecommerce and FinTech. TELUS and TELUS International operate in 28 countries around the world.

Driven by our determination and vision to connect all citizens for good, our deeply meaningful and enduring philosophy to give where we live has inspired TELUS, our team members and retirees to contribute more than $900 million, in cash, in-kind contributions, time and programs, and 1.8 million days of service since 2000. This unprecedented generosity and unparalleled volunteerism have made TELUS the most giving company in the world. Together, let’s make the future friendly.

About LifeWorks
LifeWorks is a world leader in providing digital and in-person solutions that support the total wellbeing of individuals – mental, physical, financial and social. As the trusted leader in mental health and wellbeing, LifeWorks delivers a personalized continuum of care that helps our clients improve the lives of their people and by doing so, improve their business. Guided by our purpose to improve lives and improve business, we help our clients improve the wellbeing of their people, we help them improve workforce engagement and productivity, thereby improving the performance of our clients’ organizations. LifeWorks is a publicly traded company on the Toronto Stock Exchange. LifeWorks has approximately 7,000 employees, 25,000 clients, and serves 36 million individuals and their families in more than 160 countries.

Spotlight

This presentation offers solutions for three critical challenges facing HR today, managing runaway health care costs, reducing illness related absences that disrupt productivity and engaging employees. Learn how educating your employees can reduce your health care costs, increase productivity and achieve sustainable health and wellness employee engagement. Costs reduction is not easy, yet it is vital. Discover a precise and measurable cost savings opportunity that is easy to implement.

Spotlight

This presentation offers solutions for three critical challenges facing HR today, managing runaway health care costs, reducing illness related absences that disrupt productivity and engaging employees. Learn how educating your employees can reduce your health care costs, increase productivity and achieve sustainable health and wellness employee engagement. Costs reduction is not easy, yet it is vital. Discover a precise and measurable cost savings opportunity that is easy to implement.

Related News

WORKFORCE MANAGEMENT, HR PRACTICE

Fosway 9-Grid™ identifies HiBob as Strong Performer Following Innovation and Exponential Growth in 2022

HiBob | September 27, 2022

HiBob, the company behind Bob, the HR platform transforming how organisations operate in the modern world of work, has been recognised as a 'Strong Performer' in the Fosway 9-Grid™ for Cloud HR, an independent analysis of the European Cloud HR systems market. According to Fosway, a Strong Performer typically provides higher levels of market and customer performance based on five critical factors: Performance, Potential, Market Presence, Total Cost of Ownership and Future Trajectories. Building on last year's placement where HiBob appeared in the Solid Performer zone of the 2021 Fosway 9-Grid™ for Cloud HR, the advancement represents the value to customers of HiBob's unrelenting innovation and growth in 2022. One example of this is Uala, a financial services company based in Argentina. The organisation reported a 405 percent return on investment after deploying HiBob's HR platform, Bob - recovering its investment from operational and cost efficiencies in less than three months. Having previously relied on manual input into spreadsheets to complete day-to-day processes, and after experiencing high levels of employee growth, Uala decided to implement a solution that would help it maintain effectiveness amid the complexity of scaling its operations. Using Bob, Uala was able to leverage automation through the platform to increase HR team productivity without having to unduly increase headcount. "On behalf of our dedicated and committed 'Bobbers' around the world, I'm thrilled to see HiBob place as a Strong Performer in the 2022 Fosway 9-Grid™ for Cloud HR. I believe it reflects our ability to help customers with cloud-based HR transformation that delivers value fast. The digitalisation of work, coupled with the adoption of hybrid and remote work practices has driven real demand for HR platforms like Bob, that can solve for distributed, dynamic workforces and provide a remarkable employee experience. Our priority since inception has been to build the most modern, scalable, and quickly deployable HR platform that meets our customers' growing need for innovation and automation at the midsize and sub enterprise level. I'm pleased to see it recognised for delivering in this way for customers." -Ronni Zehavi, CEO and Co-Founder of HiBob Congratulations to HiBob for advancing to the Strong Performer zone on the 2022 Fosway 9-Grid™ for Cloud HR, The move reflects the company's improved market and customer performance and focus on user experience, all of which are driving fast growth across the European market,said David Wilson, CEO, Fosway Group. The Fosway 9-Grid™ is a unique, multi-dimensional market analysis model that helps buyers of next generation HR, Talent, and Learning solutions across Europe evaluate their procurement options based on right fit for purpose, industry sector suitability, cost and ability to grow with customer needs. It provides an understanding of the market, identifies the high-level actions that can help customer organisations, and aims to provide a practical reference and comparison point for all businesses with varying degrees of operational complexity, fragmentation, and multinationalism. About Bob HiBob is on a mission to transform how organizations operate in the modern world of work with its HR platform 'Bob'. Leading the way for the future workplace, Bob offers resilient, agile technology that wraps all the complexities of HR processes into a game changing, user-friendly tool that touches every employee across the business. HiBob is used by more than 2,500 multinational companies - including Cazoo, Gong, Hopin, Monzo, Happy Socks, Fiverr, and VaynerMedia. Organizations using Bob are able to accelerate hiring, retain the best talent, upskill and elevate employee engagement.

Read More

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.

Read More

HR STRATEGY

TriNet Named in Fast Company's Second Annual List of "Brands That Matter"

TriNet | October 27, 2022

TriNet (NYSE: TNET), a leading provider of comprehensive human resource solutions for small and medium-size businesses (SMBs), today announced it has been named to Fast Company's 2022 Brands That Matter list. Fast Company's list honors brands that have achieved relevance through cultural impact and social engagement, and authentically communicating their missions and ideals. TriNet, awarded in the category for large companies with 1,000 or more employees, was recognized for its People Matter marketing campaign, which launched in late 2020 during the height of the pandemic and celebrated the hard-working and diverse employees of its tens of thousands of SMB customers. "It is an honor to be recognized among such internationally renowned companies as one of Fast Company's Brands That Matter, Our goal when the pandemic hit was to become a steadfast resource to these critical SMBs. This type of validation from Fast Company is further proof that focusing on humanity in an honest and thoughtful way is the most important foundation of any successful marketing campaign." -Michael Mendenhall, TriNet Senior Vice President, Chief Marketing Officer and Chief Communications Officer This year, we've expanded the Brands That Matter program to evaluate honorees in the context of how they matter within the category in which they compete for people's attention or loyalty. The result is a wide-ranging list of honorees that are making their mark on culture, and through social impact, said Brendan Vaughan, Fast Company's editor-in-chief. TriNet's People Matter campaign highlighted the human side of HR. The nation-wide, omni-channel campaign also featured out-of-home ads in New York City, the San Francisco Bay Area and Los Angeles, in addition to television commercials and radio spots across the country, and a major digital push that included website, digital ads and social media. Fast Company editors judged each brand on relevancy, cultural impact, ingenuity, and business impact to compile the list. The final list, which includes large multinational conglomerates, small-but-mighty companies, and nonprofits, recognizes 144 brands that give people compelling reasons to care about them—and offer inspiration for others to buy in. All 144 have found an ability to forge an emotional connection with customers, whether leading on the environment or pop culture, engaging B2B customers, or responding meaningfully to current events. About Fast Company Fast Company is the only media brand fully dedicated to the vital intersection of business, innovation, and design, engaging the most influential leaders, companies, and thinkers on the future of business. The editor-in-chief is Brendan Vaughan. Headquartered in New York City, Fast Company is published by Mansueto Ventures LLC, along with our sister publication, Inc. About TriNet TriNet (NYSE: TNET) provides small and medium-size businesses (SMBs) with full-service HR solutions tailored by industry. To free SMBs from HR complexities, TriNet offers access to human capital expertise, benefits, risk mitigation and compliance, payroll, all enabled by industry leading technology capabilities. TriNet's suite of products also includes services and software-based solutions to help streamline workflows by connecting HR, Benefits, Employee Engagement, Payroll and Time & Attendance. From Main Street to Wall Street, TriNet empowers SMBs to focus on what matters most—growing their business and enabling their people. TriNet, incredible starts here.

Read More