Namely Merges to Expand Scope of Product Line; Launches New Feature

Merger Puzzle

Namely has merged with the company recently formed by the combination of PEO Vensure Employer Service and PrismHR.

The company said that with the merger, it will be able to deliver HCM solutions to support all stages of a company’s growth and its growing complexity. From the other side of the table, Namely’s technology will further expand the full-service functionality of VES and PrismHR. In addition, the merger will continue both organizations’ goal of serving small and midsize companies with more options for cloud-based solutions.

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“With Namely on board, we’re now 3,600 employees strong and serving over 3 million employees, 850,000 directly,” said Vensure Employer Services CEO Alex Campos. The continued investment in technology, he said, well-positions the company in the market for PEOs and administrative services organizations.

The merger recalls a similar move made earlier this year, when Jobvite, JazzHR and NXTThing were combined into a single company, Employ Inc., by PE firm K1 Investment Management.

Engaging Employees Through Feedback

Separately, Namely launched Continuous Feedback, a feature that helps managers offer feedback to their employees on an ongoing basis.

According to Gallup, employees are 3.6 times more motivated to do outstanding work when their manager provides daily versus annual feedback. In fact, Gallup found that feedback is most valuable when given immediately after an action is taken. Frequent feedback can inspire individual success and support performance agility, the firm said, as well as promote talent retention.

Namely’s Continuous Feedback enables users to share comments at any time, then delivers an instant notification to employees. This includes allowing employees to leave peer-to-peer feedback privately.  

“In today’s workplace, some employees have never even met their coworkers in person,” said Namely CEO Larry Dunivan. “That means HR professionals and managers need to identify new ways to forge a sense of connection between employees and foster a deeper sense of workforce community.”

Image: iStock

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