Salary.com(TM) Outlines Strategic Initiatives to Accelerate Growth and Expand Leadership in Compensation and Performance Managem
May 20 2008 - 3:37PM
Business Wire
Salary.com, Inc. (Nasdaq: SLRY), a leading provider of on-demand
compensation and talent management solutions, recently announced
its new marketing and sales initiatives designed to accelerate
growth and expand the company�s leadership position in the
compensation and employee performance management markets. Over the
next two years, the company plans to re-invest up to $10 million in
marketing and hire up to 100 sales people to support new product
offerings. The company is launching a wave of next generation
products this year that will enable companies of all sizes to
effectively and efficiently attract, retain and reward employees.
�We see a tremendous opportunity to acquire customers and build
market share in the compensation, competency and performance
management segments of the human resources software-as-a-service
market. Our growth strategies have been working, our product
pipeline is full and we offer a unique value proposition to the
market. We continue to dominate the compensation category and plan
to extend our share by expanding into new geographic markets and
adding sales coverage for smaller businesses,� said Kent Plunkett,
chief executive officer of Salary.com. Plunkett continued,
�Employers are telling us that they have funding in 2008 to improve
their performance management systems and to model the critical jobs
skills they need to achieve their business goals. We offer the
competency content and performance management software to do both.
We integrate compensation, performance and succession functions
around job-based competency content that helps employers fit the
right talent to the right role. We believe the time to invest is
now.� Salary.com ended fiscal 2008 with its 28th consecutive
quarter of revenue growth, posted 50% annual revenue growth,
generated a free cash flow margin of 23% and had $38 million in
cash as of March 31, 2008. The company believes that its
investments in sales and marketing will drive increased growth over
the next two years, and it plans to fund these initiatives with its
operating cash flow. Salary.com plans to incrementally hire up to
100 sales people to build out its competency, international, small
business and strategic sales teams to penetrate new buying groups
and new geographic markets over the next two years. Over this same
time period, Salary.com plans to incrementally invest up to $10
million in marketing to extend its compensation brand globally and
build awareness among a new set of buyers in organizational and
leadership development. New products that Salary.com has recently
made available or that will come to market in the future include
expanded capabilities in compensation, performance management and
competency services: Enhanced CompAnalyst� and IPAS� compensation
platforms with the latest .net and ajax technologies, extending the
company�s leadership position in compensation management. Expanded
geographic reach with new international market pricing data sets
covering individual countries starting with Canada. Increased
CompAnalyst Executive� data processing capability that makes our
database the most accurate and comprehensive data set available for
named executives at all U.S. public companies. Newly re-architected
performance management suite (TalentManager�) including our new
Succession Planning Module A small business version of our
performance management and pay products for companies with fewer
than 500 employees. A first of its kind competency management
application to complement our new data libraries and competency
consulting practice. �Strong companies thrive in challenging times
because they have the financial strength to invest and grow when
others are not able to do so,� said Plunkett. With a solid balance
sheet, over 9,000 corporate customers and a five year record of
generating positive cash flow, Salary.com is confident that it has
the resources and new products to distance itself from the
competition. Plunkett concluded, �The time is right for market
leaders to act boldly and help drive workforce productivity and
re-energize economic growth�. Salary.com will be exhibiting at
upcoming trade shows and demonstrating new product offerings at the
WorldatWork conference in Philadelphia on May 20th, American
Society of Training and Development conference in San Diego on June
1st and Society of Human Resource Management in Chicago on June 23,
2008. About Salary.com, Inc. Salary.com is a leading provider of
on-demand compensation and talent management solutions helping
businesses and individuals manage pay and performance. Salary.com�s
highly configurable software applications, proprietary data and
consulting services help HR and compensation professionals
automate, streamline and optimize critical talent management
processes including: market pricing, compensation planning,
performance management, competency management and succession
planning. Built with compensation and competency data at the core,
Salary.com solutions provide businesses of all sizes with the most
productive and cost-effective way to manage and inspire their most
important asset � their people. Safe Harbor Statement This release
contains "forward-looking" statements that are made pursuant to the
Safe Harbor provisions of the Private Securities Litigation Reform
Act of 1995. These are statements that are predictive in nature,
that depend upon or refer to future events or conditions, or that
include words such as "may," "will," "expects," "projects,"
"anticipates," "estimates," "believes," "intends," "plans,"
"should," "seeks," and similar expressions. This press release
contains forward-looking statements relating to, among other
things, Salary.com's expectations and assumptions concerning future
performance. Forward-looking statements involve known and unknown
risks and uncertainties that may cause actual future results to
differ materially from those projected or contemplated in the
forward-looking statements. The risks and uncertainties referred to
above include, but are not limited to, our ability to continue to
release and gain customer acceptance of new and improved versions
of our service, successful customer deployment and utilization of
our services, our ability to expand our customer base and product
and service offerings, interruptions or delays in our service or
our Web hosting, our business model, breach of our security
measures, the emerging market in which we operate, our ability to
hire, retain and motivate our employees and manage our growth, and
competition, as well as those risks and uncertainties described in
Salary.com's filings with the Securities and Exchange Commission.
Salary.com expressly disclaims any obligation to update any
forward-looking statements.
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