GLOBOFORCE LTD provides strategic employee recognition solutions for Global 2000 companies. Founded in Dublin in 1999, the company opened a US office in 2004 and now is co-headquartered between the two countries. Eric Mosley, founder and chief executive, first started Globoforce as a dot.com for consumers to purchase gift cards online from international merchants.
At this time he identified a bigger opportunity and his business vision was to become a global leader in the provision of a service to help companies engage their global employees through a single reward and recognition portal. Today the Globoforce recognition platform supports 1.7 million employees across the company's client base of more than 100 international corporations. Mosley explains that through its sophisticated, easy-to-use, on-demand technology platform, it transforms the way enterprises motivate their workforces and empowers the most successful organisations on all continents. It claims to be the only company that can offer locally-relevant rewards to all participants across the globe through their innovative multi-language, multi-currency offering.
The company's revenues grew year-on-year from 2005 to 2006 by 74 per cent and from 2006 to 2007 by nearly 85 per cent. Globoforce has 150 employees and strongly believes that it will be a $200-300 million company within the next five years.
Customers:
Globoforce has a blue-chip customer base of more than 100 international corporations based in the US. Representing manufacturing, media, consumer goods, high-tech, pharmaceutical and other diverse industries, some of Globoforce's customers include Fortune 500 and Global 2000 enterprises such as Amgen, Avnet, Dow Chemical, Fairmont Hotels Resorts, Global Crossing, Intel, Intuit, Nortel, Procter Gamble and Thomson Reuters.
Product/Service:
Globoforce offers the most advanced, robust global on-demand strategic employee recognition solutions for Global 2000 companies. Built on a J2EE platform, the company's flexible and efficient recognition tool can scale from one user to millions of users with ease, offering global companies a powerful and secure solution to implement and manage their company's division-wide reward and recognition programmes.
Describe your progression from start up to your current status?
During the past few years, we've grown more than 100 per cent on average annually. We've been profitable the last two years with a client roster of Fortune 500 companies. We completed a business case study with Stanford University and Intuit. Our foundation is strong to move the company forward as the recognised global leader.
What is your biggest business achievement?
At Globoforce, we built a company offering a global solution for the world's largest companies. Winning their business and successfully operating their programmes over many years validates everything we set out to accomplish, endorses our value proposition and reinforces the validity of our business plan. I am extremely gratified our solution runs the world's largest HR reward and recognition programme.
What is the best piece of business advice you ever received?
As an entrepreneur and chief executive, one is tempted to focus resources on building business attributes on which other people may value the company - prevalent thinking in the dot.com days when companies built market share and buzz as the end game. Critical early advice to me was to avoid this and wholly focus on building a successful, financially sustainable company.
