WORKFORCE MANAGEMENT

NewCo Capital Group Pays Special Bonuses having maintained full salaries and benefits packages through the difficult and ongoing pandemic.

NewCo Capital Group, LLC | January 17, 2022

Employee Productivity News
NewCo Capital Group ("NewCo" or the "Company"), a leading provider of services, tools and capital to the SMB ecosystem that fosters growth for small-medium business across the United States, announced it completed paying special bonuses while increasing existing compensation packages to current employees all of whom are greatly appreciated and valued within the organization.

Over the last 18 months, no employees were asked to take temporary pay reductions as NewCo Capital Group understands that its employees and contractors are the core competencies that define the exceptionalism for which the organization is known. Unlike some of its lesser counterparts, at no time did NewCo need to furlough any employees during the pandemic. Furthermore, the organization believes that it had a responsibility to assist its employees during this difficult time. The Company believes that its action to pay special bonuses and increase compensation packages are consistent with the organization's values and culture.

The organization believes that it had a responsibility to assist its employees during this difficult time.

In December 2020, CNBC reported that a MagnifyMoney survey revealed that roughly 1 in 3 full-time workers experienced a pay cut due to the coronavirus pandemic. NewCo believes that not only did most companies not pay any special bonuses to their employees, some providers of capital unfortunately forced pay reductions of at least 10 percent on their already underpaid staff.

"We founded NewCo to promote a sustainable-funding solution for small business owners while providing greater opportunities for our employees and contractors alike. Newco's delivery on that promise is consistent with that mission and we're proud to be a citadel during these difficult times. Our values and corporate culture continues to guide us and NewCo will continue to deliver an exceptional product and retain its position and influence as a Preferred Merchant Cash Advance provider within the industry."

- Albert Gahfi, CEO of NewCo

About NewCo Capital Group, LLC
NewCo Capital Group is an Alternative Finance company specializing in MCA Bridge-Capital. As a Preferred Provider, the company is focused on fostering growth within the Small and Midsize Business (SMB) ecosystem. We are passionate about providing fast and easy access to capital for small businesses to help them grow, scale and create jobs. Our technology, proprietary methods and extensive experience is what differentiates us allowing us to maintain our competitive edge and continue to provide value to our Merchants and employees alike.

Spotlight

Happy employees are an invaluable asset to any company. They radiate positivity, camaraderie, and tend to stick around for a while. In terms of efficiency, it’s in a company's best interest to put their best foot forward when it comes to employee happiness. We partnered with Atomic Research to survey 4,000 workers across the United Kingdom, France, Germany, and the United States to put these myths to rest and expose the truth behind what really makes employees thrive.


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HR PRACTICE,HR STRATEGY

Cognizant to Expand Workday Expertise and Services with Acquisition from OneSource Virtual

OneSource Virtual and Cognizant | November 03, 2022

Cognizant (NASDAQ: CTSH) has entered into an agreement to acquire the professional services and application management practices of OneSource Virtual, a Workday partner based in Dallas, Texas. Acquiring these practices will complement Cognizant's existing finance and HR advisory implementation services with Workday, expanding capabilities in consulting, deployment, and post-deployment support across North America and the United Kingdom. "Adoption and migration to the cloud to manage workflows is only accelerating, and the Workday platform ecosystem continues to be embraced as a critical tool to provide finance, HR, and other functions greater resiliency and agility. Acquiring the professional services and application management practices from OneSource Virtual enables Cognizant to expand our client offerings and provide end-to-end support in the business transformation journey, We are pleased to be welcoming the talented professionals from OneSource Virtual who will join Cognizant in growing and expanding our Workday capabilities globally." -Rob Vatter, Executive Vice President of Cognizant's Enterprise Platform Services Cognizant will gain nearly 400 new employees upon closing of the acquisition, enhancing its expertise and number of professionals holding certifications in Workday implementation and support. Located throughout the United States, Canada, and the United Kingdom, these individuals will join Cognizant as part of its Collaborative Solutions team, the hub of Cognizant's Workday practice. Acquired by Cognizant in 2020, Collaborative Solutions is one of the longest-tenured Workday Services Partners. We believe that our shared value of customer centricity makes Cognizant the ideal home for our professional services and application management services businesses while we concentrate on the Business Process as a Service (BPaaS) division going forward, We also believe customers will appreciate the way this sharpens the focus of the professional services, application management, and BPaaS teams and enables them to operate independently to speed up investment in new products and geographical expansion. In the end, what we are all about is providing growth and innovation for our customers, and we are confident that this will enhance our ability to do that more effectively,said Trey Campbell, Chief Executive Officer, OneSource Virtual. We are excited about Cognizant's acquisition of OneSource Virtual's professional services and application management practices, We look forward to continue partnering to help our customers embark on their digital transformation journeys and equip leaders with the finance and people insights they need to respond to shifting business needs,said Sam Alkharrat, Chief Partner Officer, Workday. The acquisition is anticipated to close by year-end 2022, subject to satisfaction of closing conditions. Financial details were not disclosed. About OneSource Virtual OneSource Virtual is a leading provider of Workday Services, Solutions, and Products. Founded in 2008 in Dallas, Texas, OSV operates in North America and Europe to deliver outcomes that boost productivity, improve compliance, and increase internal capacity for over 1,300 customers around the world. Since its founding, OSV has been awarded numerous accolades and has a 98% retention rate. OSV's leadership teams are composed of highly experienced professionals in their respective fields. Together they offer the expertise and deep knowledge of the global marketplace to deliver comprehensive solutions and services for HR and Finance and Accounting. About Cognizant Cognizant (Nasdaq: CTSH) engineers modern businesses. We help our clients modernize technology, reimagine processes and transform experiences so they can stay ahead in our fast-changing world. Together, we're improving everyday life.

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WORKERS COMPENSATION

SEB Aligns Global Compensation Processes Using beqom

beqom and SEB | November 18, 2022

beqom—a provider of cloud-based total compensation and continuous performance management solutions today announced the successful deployment of its total compensation solution at Skandinaviska Enskilda Banken AB (SEB), one of Europe’s oldest and most prestigious financial institutions. The bank selected beqom to replace their partly spreadsheet-based processes and manage total compensation for their 16,000 employees across 20 countries. They sought to align global rewards processes, reduce time spent on administrative tasks, and compile compensation data from many different sources that could be accessed as needed by managers and other stakeholders to support informed decisions on a daily basis. “We have a diverse, growing, and highly regulated business and needed a comp system that could cater to our needs, handling both global and local requirements. Our previous system relied on many exceptions and manual workarounds that were time consuming, introduced risk, and created compliance challenges. We’ve been running our total compensation processes on beqom for over a year now, and it has saved our HR comp team a lot of time, reduced risk, helped standardize and align our processes, and provided a great experience for our users. The feedback from stakeholders—managers, HR partners, CFOs in the businesses—has all been very positive.” -Mattias Bergman, Process Owner Variable Remuneration C&B at SEB About beqom beqom is a cloud-based provider of continuous compensation and performance management solutions that deliver personalized total rewards aligned with meaningful behaviors, goals, and skills. The solutions transform how companies reward and recognize their people, attract and retain top talent, and address pay equity and transparency. Managing all forms of employee compensation, beqom unifies all performance and reward processes to create a meaningful, people-centric experience across employee touchpoints, providing feedback, coaching, and rewards. beqom’s fully configurable solution integrates seamlessly into core HR suites, providing companies of any size and industry, such as Mercedes Benz, PepsiCo, Golub Capital, and DHL, with the flexibility needed to execute their performance and reward strategies and make the most of their human capital. About SEB Founded in 1856, SEB divisions include Large Corporates & Financial Institutions; Corporate & Private Customers; Baltic; Life; and Investment Management. Profits in 2021 totaled SEK 30.9bn (3.17b USD, 2.97b EUR), with assets under management of SEK 2.6 trillion (275b USD, 256b EUR).

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HR ANALYTICS,HR STRATEGY

LumApps Advances Conversational AI Development Strategy with Acquisition of Vizir

LumApps | December 15, 2022

LumApps, a leading employee experience platform, announced today it has acquired Vizir, an innovative no-code digital assistant technology ("predictive chatbots") that human resources, and information technology, communications departments can use to automate mundane tasks and improve employee access to knowledge, resources, and third-party applications at lower costs. Vizir's no-code technology will integrate significant new capabilities into the LumApps platform. Powered by Natural Language Understanding (NLU), the advanced digital assistant simulates human dialog to make employee experiences more humanlike and personal. Vizir also brings micro-apps enabling the digital assistant to be used across various channels, such as Microsoft Teams, Slack, or Google Chat. Furthermore, Vizir's no-code tools and embedded libraries enable IT, HR, and other departments to intuitively set up their chatbot. "This acquisition is indicative of our investment in the growth of conversational AI and our response to the increased demand for digital assistants. Vizir's next-generation technology will enhance our platform with effortless self-service across channels, strengthening our ability to reach employees where they are at, in a personalized, contextual way. We're thrilled to have Vizir join the LumApps family," - Sebastien Ricard, CEO at LumApps Digital assistants are valuable technology that can be used to provide seamless access to key knowledge and other resources. The technology automates redundant activities, such as managing requests for IT support or answering common HR questions. For example, if we want an employee to complete benefits enrollment, a digital assistant can prompt the individual to select a health plan, provide immediate access to documents and information about the various plan options, and then can help employees to complete enrollment without leaving the digital assistant bot. Intuitive digital assistants, also known as predictive chatbots, are quickly transforming the way HR, IT, and Communications teams work and have the potential to provide considerable value for organizations that implement them. This acquisition will give every LumApps customer a chance to integrate intelligent bot software into their employee experience platform to meet the needs of today's workforce. We're excited about the possibilities of bringing these two companies together, said Thomas Maitre, CEO and co-founder of Vizir. The demand for digital assistants continues to grow as organizations look to streamline operations and free up time for their support teams to focus on more critical activities that help engage and retain employees. According to Forrester's Future of Work survey, 60% of employees prefer to use self-service for resetting passwords and for app provisioning. And analysts at Gartner predict that by 2023, 75 percent of HR inquiries will be initiated through conversational AI platforms. This is the second acquisition LumApps made in 2022. Last February, the company bought HeyAxel and launched LumApps Journeys, which automates common moments in the employee lifecycle such as onboarding and career development. The Vizir acquisition will also combine the digital assistant with LumApps Journeys' omnichannel content delivery to help customers deliver the best employee experience possible. Initially using Vizir's technology as an internal messaging system to absorb IT requests, we extended our use of the digital assistant to human resources. The on-demand IT support helps our employees solve software and hardware issues automatically, whereas HR bots accompany our employees along personalized learning paths. The chatbot has helped us avoid hundreds of additional support tickets and wasted resources. The combination of Vizir's digital assistant and our existing LumApps platform is a great way to get the best out of our internal tools and build a comprehensive employee experience at Imerys, Sébastien Levrot, IT Director Enabling Functions & Digital innovation at Imerys. About LumApps LumApps is a global employee experience platform, transforming how companies engage, enable, and empower their workforces. The cloud-native solution is architected to tailor each experience to the individual needs of every employee, wherever and whenever they connect. With the industry's first unified employee data layer to drive hyper-personalization, LumApps is the only solution to deliver truly customized interactions for a game-changing employee experience. Since 2015, LumApps has been helping some of the world's largest and most innovative companies, such as Palo Alto, Publicis Sapient, Electronic Arts, Airbus, and Just Eat, revolutionize how they communicate internally, engage every employee, and retain great talent.

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WORKFORCE MANAGEMENT,EMPLOYEE EXPERIENCE

UKG Earns Global Praise from Top HCM Analyst Groups for Intelligent, People-centric Workforce Management

UKG | December 07, 2022

UKG, a leading provider of HR, payroll, and workforce management solutions for all people, today announced new honors from top HCM analyst firms in North America and Europe, including NelsonHall, Nucleus Research, Constellation Research, and Fosway Group, recognizing the transformative outcomes that both people and businesses achieve with intelligent, industry-specific UKG workforce management solutions. “The global UKG workforce management suite emphasizes flexibility, autonomy, and purpose for people while providing organizations with an intelligent solution that maximizes teamwork and productivity to build workplace cultures where everyone can belong, This powerful approach, coupled with our unwavering commitment to industry-specific solutions that support people regardless of their workplace setting, creates better outcomes for all.” -Hugo Sarrazin, chief product and technology officer at UKG An Overall Leader in NelsonHall’s Workforce Management NEAT Evaluation UKG is positioned as an Overall Leader in the NelsonHall New World Workforce Management 2022 NEAT vendor evaluation. One of the world’s leading analyst firms for business process services, NelsonHall credits UKG for its focus on empowering UKG customers with the tools necessary to become an employer of choice, including artificial intelligence and an array of purpose-built industry specific solutions. Being positioned as an Overall Leader reflects the ability of UKG to meet future customer needs while also delivering immediate benefits today, Organizations have responded to challenging times with greater investments in their people and technology. Partnering with a suite provider focused on enhanced solutions that leverage innovative technology to facilitate both local and global administration, manage risk assessments, and offer flexible working while prioritizing employee engagement will be critical to reaching strategic goals,said DeeAnna Warrington, principal research analyst, HR technology and services practice, NelsonHall. Nucleus Research Further Affirms UKG Market Leadership in Workforce Management After being named the Overall Leader in the Nucleus Research HCM Technology Value Matrix 2022, UKG is also once again a Leader in the Nucleus Research Workforce Management Value Matrix 2022. Nucleus Research is an independent technology research firm focused on helping organizations build financially focused business cases for software investment. UKG continues to capitalize on its unique value proposition, leveraging a rich expertise in workforce management while staying hyper-focused on the company’s goal of meeting the needs of people, regardless of where or how they work, Next generation workforce management technology must be a cornerstone of both people planning and operational strategy for businesses to succeed going forward,said Evelyn McMullen, research manager at Nucleus Research. Driving Change and Transformation, Say Constellation Research and Fosway Group Constellation Research, a Silicon Valley-based technology research and advisory firm that delivers strategic guidance to support business transformation, recently announced UKG is included in the “Workforce Management Suites Q3 2022 Constellation ShortList.” In addition to displaying mature and innovative functionality around time and attendance, planning and forecasting, and scheduling, the global footprint of UKG also exceeded the threshold of at least 3,000 customers on four or more continents. Building on global and international strength, Fosway Group, Europe’s top HR analyst group, recognized UKG as a Core Leader (UKG Ready) and Strategic Challenger (UKG People Operations) in the 9-Grid™ for Cloud HR. The report recognizes the ability for UKG to meet the needs of a variety of organizations, especially complex, enterprise-scale global customers with a people operations suite featuring workforce management and HR service delivery. We became the world leader in workforce management because we are deeply committed to helping our customers overcome their most complex challenges, regardless of industry, while also keeping people at the center of operations, Our relentless focus on our customers and their needs is why UKG continues to be one of the most honored HCM and workforce management suite providers globally,said Chris Todd, CEO at UKG. About UKG At UKG, our purpose is people. As strong believers in the power of culture and belonging as the secret to success, we champion great workplaces and build lifelong partnerships with our customers to show what’s possible when businesses invest in their people. Born from a historic merger that created one of the world’s leading HCM cloud companies, our Life-work Technology approach to HR, payroll, and workforce management solutions for all people helps more than 70,000 organizations around the globe and across every industry anticipate and adapt to their employees’ needs beyond just work.

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Spotlight

Happy employees are an invaluable asset to any company. They radiate positivity, camaraderie, and tend to stick around for a while. In terms of efficiency, it’s in a company's best interest to put their best foot forward when it comes to employee happiness. We partnered with Atomic Research to survey 4,000 workers across the United Kingdom, France, Germany, and the United States to put these myths to rest and expose the truth behind what really makes employees thrive.

Resources