Inc. Magazine Unveils its Fourth Annual Exclusive List of America’s Fastest-growing Private Companies – the Inc. 5000
Livonia, Michigan and New York – September 22, 2010 – WorkForce Software, the leading provider of workforce management solutions for organizations with complex labor policies and compliance concerns, announces Inc. magazine ranked WorkForce Software No. 2017 on its fourth annual Inc. 5000, an exclusive ranking of the nation’s fastest-growing private companies. The list represents the most comprehensive look at the most important segment of the economy—America’s independent-minded entrepreneurs. Music website Pandora, convenience store chain 7-Eleven, Brooklyn Brewery, and Radio Flyer, maker of the iconic children’s red wagon, are among the prominent brands featured on this year’s list.
“The leaders of the companies on this year’s Inc. 5000 have figured out how to grow their businesses during the longest recession since the Great Depression,” said Inc. President Bob LaPointe. “The 2010 Inc. 5000 showcases a particularly hardy group of entrepreneurs.”
For the fourth consecutive year, WorkForce Software continues to rise in the ranks of the exclusive Inc. 5000. WorkForce Software’s President & CEO Kevin Choksi is honored to be recognized again in 2010.
“We owe much of our success to our loyal customers who actively contributed in the design and functionality of our EmpCenter® workforce management solution,” said Choksi. “EmpCenter allows organizations to do more with lower budgets by streamlining employee interactions and lowering labor costs, which is critical in this economic environment.”
WorkForce Software’s EmpCenter is a configurable workforce management suite that easily adopts and manages any organization’s policies and procedures, regardless of the complexity. When managing the workforce, it is critical that employers and human resource professionals are current with changing government regulations, labor contracts, and other compliance concerns. Non-compliance with any of these rules and regulations can negatively affect an organization’s credibility and bottom line with costly fines.
The 2010 Inc. 5000, unveiled today on Inc.com, serves as a unique illustration of the profound changes taking place in the U.S. economy. The Government Services sector showed the biggest gain in terms of the number of companies on the list, up 33-percent from last year to 335 companies. Government Services was also the second-fastest-growing sector in terms of median revenue growth, posting a 202-percent gain over the 2006-2009 measuring period. More than half of these companies are based in Maryland, Virginia, and Washington, D.C. The fastest-growing sector by median revenue growth was Real Estate, now just a tiny group of 38 young, small companies, which showed 231 percent median growth over the period. (There were 121 Real Estate firms on the inaugural Inc. 5000 in 2007.) Business Products & Services is the top industry by number of companies on the list (640) and total revenue ($80.7 billion), while Health is the biggest by total employment (287,726 jobs).
Despite the fact that most of this year’s measuring period of 2006-2009 took place during the latest recession, aggregate revenue among the companies on the list actually increased to $321.6 billion, up more than 50-percent from last year. The effects of the recession are seen, however, in the median three-year growth rate, which dropped to 96-percent from last year’s 126-percent. This year’s Inc. 5000 employ a record 1.4 million people, up from one million on last year’s list. With unemployment remaining stubbornly high, policymakers and business leaders will do well to look to the Inc. 5000 companies for fresh ideas on achieving growth and creating jobs.
Complete results of the Inc. 5000, including company profiles and an interactive database that can be sorted by industry, region, and other criteria, can be found on www.inc.com/5000.
The 2010 Inc. 500|5000 is ranked according to percentage revenue growth when comparing 2006 to 2009. To qualify, companies must have been founded and generating revenue by June 30, 2006. Additionally, they had to be based in the United States, privately held, for profit, and independent—not subsidiaries or divisions of other companies—as of December 31, 2009. (Since then, a number of companies on the list have gone public or been acquired.) The minimum revenue required for 2006 is $80,000; the minimum for 2009 is $2 million. As always, Inc. reserves the right to decline applicants for subjective reasons. The top 10 percent of companies on the list constitute the Inc. 500, now in its 29th year.
About Inc. Magazine
Founded in 1979 and acquired in 2005 by Mansueto Ventures LLC, Inc. (www.inc.com) is the only major business magazine dedicated exclusively to owners and managers of growing private companies that delivers real solutions for today’s innovative company builders. With a total paid circulation of 712,647, Inc. provides hands-on tools and market-tested strategies for managing people, finances, sales, marketing, and technology. Visit us online at www.inc.com.
About WorkForce Software
WorkForce Software, Inc. is the leader in workforce management solutions for organizations with complex policies and compliance concerns. Its EmpCenter system enables strategic HR by automating and streamlining interactions between the employer and its workforce. These interactions include time entry, time-off requests, request for personal information, and schedule preferences. By automating these interactions, organizations can better manage payroll and processing costs, help ensure compliance with state and federal regulations, and increase the productivity and satisfaction of their employees.
The EmpCenter suite is composed of numerous applications, including Time and Attendance, Activity Based Costing, Multiple Assignments, Absence Manager, FMLA Manager, Advanced Scheduling, and Fatigue Management. WorkForce Software’s diverse customer base includes large employers such as the University of California, Pacific Gas & Electric Company, Activision Blizzard, Duke Energy and Compass Bank. For more information, visit www.workforcesoftware.com.
Note to editors: WorkForce Software is a registered trademark of WorkForce Software, Inc. in the United States and other countries. All other trademarks are the property of their respective owners.