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Globoforce Named to Deloitte's 2010 Technology Fast 50

November 18, 2010 Press Releases Archive

Dublin-based employee recognition company ranked number 26 in Ireland index

SOUTHBOROUGH, MASS., and DUBLIN, IRELAND – November 18, 2010 – Globoforce®, the world's leading provider of global, strategic employee recognition solutions, today announced that it ranked number 26 in the 2010 Deloitte Technology Fast 50, a ranking of the 50 fastest-growing technology companies in Ireland. Rankings are based on average percentage revenue growth over five years.

"We're thrilled Deloitte has recognised the remarkable, consistent growth of Globoforce. Our success is directly attributable to our commitment to customers; our Strategic Recognition™ solutions help Globoforce clients create an engaged workforce and unified culture that ultimately net greater profitability," said Eric Mosley, CEO and co-founder of Globoforce. "As evidenced by our own results, our offerings resonate with progressive, leading organisations striving to motivate and retain their workforce. More importantly, this ranking validates the powerful and quantifiable business impact Strategic Recognition brings to organisations worldwide."

The need for effective, intelligent employee recognition solutions is more pressing than ever. Global employee engagement is at a low point. Research from the World Federation of People Management Associations and The Boston Consulting Group found that one-third of companies worldwide are troubled by low employee engagement in six key areas, which included recognition beyond compensation and reward for appropriate behaviours. With tighter budgets, employees have been asked to take on more responsibility in their jobs. These stressful environments are catalysts for employee disengagement, low productivity, and retention challenges.

Forward-thinking organisations are combating these challenges by leveraging Globoforce strategies and technology to motivate employees, retain talent, and ultimately transform their organisational cultures. The business case for Strategic Recognition is clear: A Towers Watson study showed organisations with high employee engagement achieved a 19 percent increase in operating income and nearly 28 percent growth in earnings per share.

Announcing the winners of the Technology Fast 50 program, David O'Flanagan, Partner, Deloitte said: "In spite of the challenging financial market conditions, the 2010 Deloitte Fast 50 shows that Irish technology companies are continuing to show impressive growth. We are particularly impressed to see the increase in winners who are competing on the world stage, especially in the area of software development and in the B2C sector (business to consumer). These are industries we have seen develop and mature over the past decade."

The Deloitte Technology Fast 50 program, now in its eleventh year in Ireland, ranks the fastest-growing technology companies in the Republic of Ireland and Northern Ireland. This year, there are 15 companies from Northern Ireland in the ranking. The average growth rate of the Fast 50 companies named in this year's ranking is 623 percent. The awards took place in The Europa Hotel in Belfast on November 12th. Details of the final Technology Fast 50 ranking list are available to download at www.fast50.ie.

ABOUT DELOITTE

Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a private company limited by guarantee, and its network of member firms, each of which is a legally separate and independent entity. Please see www.deloitte.com/ie/about for a detailed description of the legal structure of Deloitte Touche Tohmatsu Limited and its member firms. Deloitte's 1,100 people in Dublin, Cork and Limerick provide audit, tax, consulting, and corporate finance to public and private clients spanning multiple industries. With a globally connected network of member firms in more than 140 countries, Deloitte brings world class capabilities and deep local expertise to help clients succeed wherever they operate.

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