2009 Press Releases

Workstream Launches Restructuring Assistant:  New Capability Allows HR to Conduct Data-Driven Restructuring and Workforce Planning Projects

Improve staffing decisions and mitigate risk by safeguarding critical top performers and organizational competence.

Maitland, FL—February 12, 2009 -  Workstream Inc. (Nasdaq: WSTM), a leading provider of on-demand compensation, performance and talent management solutions, today announced the launch of Workstream Restructuring Assistant, a new tool that is specifically designed to aid organizations and human resources in collecting the data necessary to conduct better, more data driven restructuring and workforce planning projects.  Restructuring Assistant can help maximize the productivity of restructuring efforts by improving staffing decisions, expediting the process of choosing where to make reductions, and ensuring that an organization is not left without the critical individuals and skill-set necessary to succeed post-restructure.

The on-going global recession is placing severe pressure on organizations to produce more with less, however poorly planned mass cuts that help the short term bottom line significantly impair future productivity. Strong HR leaders advocate for a more strategic workforce planning process that safeguards top performers and critical organizational competence while mitigating the risk of diminished workforce productivity and employee morale. The challenge is to efficiently collect the necessary data to drive such informed planning decisions.

Workstream Restructuring Assistant can help organizations decide where to make reductions by collecting and aggregating the employee data necessary for informed workforce planning. The tool can help HR build a data driven business case to avoid, delay, or mitigate workforce reduction. Key capabilities and features of the solution include:

• Competency Management – Using Workstream’s industry leading competency library and management capabilities, organizations can rank each associate across the broad spectrum of skills and competencies necessary for meeting post-restructuring operational requirements while learning a great deal about an organization’s overall competency health.

• Reporting & Data Collection – Powerful and flexible reports allow organizations to accumulate and examine data by employee record and employee grouping such as competency ranking, potential rating, education, salary data, employment experience, past performance scores, and more providing the necessary data to help make informed staffing and streamlining decisions.

• Succession Planning – Identify key roles and succession candidates to safeguard an organization’s future set of leaders and reduce organizational risk exposure that can accompany poorly executed restructuring efforts.

• Flexibility – Either assess each employee across one common set of characteristics or differentiate assessments based upon role, department, division, or other HR grouping to help make informed decisions that  fit the organization as well as each business unit.

• Speed – Begin using the Restructuring Assistant in as little as 2-4 weeks; and the tool can save  weeks or even months of frustration collecting data and compiling reports.

• Packages Suited to Any Organization - Multiple packages that suit an organization’s specific needs from simple to complex are made available through basic business rule configurability and supported by Workstream’s highly experienced professional services team.

• Easing the Transition of Impacted Employees – Workstream, through its subsidiary Omni Partners Inc., provides expert outplacement services that go well beyond the typical outplacement services. Omni Partners Inc. career professionals provide in-depth research, coaching, writing, and net-working services. Coaches even work with their clients for 2 years following the acceptance of their new role helping assure long term career success.

• Comprehensive Solution Provider - Only Workstream can support your software restructuring assistant needs, aggregate software talent management requirements, and help an organization’s displaced employees navigate to new and rewarding careers through exceptional and proven career outplacement services either as a package or as individual solutions and services.

“Workstream Restructuring Assistant is a powerful solution to help organizations assess the health of their overall talent competencies and make informed decisions about their talent needs,” said Workstream CEO Steve Purello. “Given a slowing economy, many organizations are in the unfortunate position of down-sizing their workforces. HR departments are under pressure to make quick decisions about who to cut and who to keep. Workstream’s Restructuring Assistant tool can efficiently facilitate this process by supplying HR with the data necessary to make those critical decisions.”

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