Globoforce Reports Substantial Growth In 2007
Southborough, Mass., and Dublin, Ireland — Jan. 14
Globoforce, a leading provider of global, strategic on-demand employee recognition solutions, announced that it has recorded year-to-date revenue growth of 90 percent in 2007. This growth has been fueled by the increased acceptance of strategic recognition programs as a necessity in creating an appreciation culture within global corporations, leading to improved employee engagement levels. Globoforce customers such as Amgen, Avnet, Dow Chemical, Intuit, Procter & Gamble and Reuters are experiencing the proven business benefits of strategic recognition programs operating within their organizations.
“We’re finding that employee engagement is a topic that’s quickly gaining more interest as a tangible business benefit from senior executives and chief executive officers,” said Eric Mosley, CEO of Globoforce. “Our research has shown that companies with strategic employee recognition programs are proven to succeed at approximately twice the rate of those that do not. Without question, Globoforce has experienced an unprecedented rate of success in 2007. We’re confident that the same success will carry over to our customers as we help them unite their employees around a set of core values that will energize their workforces and lead to higher sales and profits.”
Highlights of Globoforce’s momentum in 2007 include:
- Enterprise adoption: In 2007, approximately 1.3 million employees worldwide actively used the Globoforce platform. The wider enterprise adoption has translated into a significant increase in total number of rewards delivered from 2006 to 2007.
- Innovation: In June 2007, Globoforce launched its new on-demand product platform, Enterprise Conglomerate Edition, which enables the largest companies in the world to manage reward and recognition programs globally on a division-by-division basis. The Enterprise Conglomerate Edition features new tools that give human resources departments and division heads the ability to monitor and manage — in real-time — global regional and divisional programs for their entire enterprise.
- New languages: In 2007, Globoforce added three new languages to its existing platform of international language options: Hungarian, Thai and Turkish. The advanced technology of the Globoforce platform allows for the addition of any language in the world, meeting the growing demand of its customers’ increasing international operations and globally dispersed workforces.
- Extended merchant offerings: Globoforce increased its merchant offerings on its reward platform in 2007 by adding 130 new merchants worldwide to its existing base of robust and diverse shopping options, representing the addition of thousands of store locations in more than 100 countries.
- Industry recognition: Globoforce was recognized as a leader in the employee recognition industry throughout 2007, receiving the following accolades: Process Innovation Award for the creative deployment of “Recognition@Dow,” The Dow Chemical Company’s global employee recognition program; Motivation Award, “Best Use of Product for Reward Purposes,” Incentive & Motivation magazine; listed as a top five global employee recognition program outsourcer on the “Top 10 HRO: Employee Recognition,” The Black Book of Outsourcing; Deloitte Technology Fast 50; HRO Today’s “The Baker’s Dozen: The Top 13 Providers of Employee Recognition Outsourcing; and Sales Achievement of the Year Award, ISA.
- Employee growth: Due to the increased business demand with Globoforce becoming the provider of choice for implementing global, strategic recognition programs, the company experienced its highest ever staff increase in 2007, growing by 168 percent.