Administaff Becomes InsperityTM
Monday, March 21, 2011
Posted by: Susan Hartfield
Administaff, Inc. (NYSE: ASF) announced that it is changing its
corporate identity and renaming the company Insperity, Inc., a leading
provider of human resources (HR) and business performance solutions for
America's best businesses. This milestone reflects the company's
evolution over the past 25 years from a professional employer
organization (PEO), an industry it pioneered, to its current position as
a comprehensive business performance solutions provider.
mission of Insperity is to help businesses succeed so communities
prosper. Our goal is to establish Insperity as the trusted advisor
providing HR and business solutions to performance-driven companies,"
said Paul J. Sarvadi, Insperity chairman and chief executive officer.
"The values we have adhered to during our 25-year history are the
foundation of our success, and those remain unchanged, as does our
passion for helping businesses succeed. Our corporate strategy is to
increase value through a portfolio of businesses with recurring revenue
streams, strong growth potential and substantial cross-selling
opportunities to grow our core PEO business faster. This corporate
identity change is a natural progression of the strategic evolution our
company has undertaken and continues to position us as the industry
Insperity business strategy focuses on providing an
Insperity Business Performance Advisor to understand the unique needs of
each company and advise them as to the best method to improve
productivity and profitability. The InsperityTM Workforce OptimizationTM
solution is the most comprehensive business services bundle in the
marketplace including payroll, employee benefits, workers' compensation,
and a complete HR infrastructure to provide employment administration,
government compliance, policies and best practices, and training and
development programs, among others. Insperity also offers additional
business performance solutions such as performance management, expense
management, time and attendance, organizational planning, employment
screening, recruiting services, retirement services, business insurance
and technology services, enabling companies to take advantage of the
specific solutions that meet their currents needs.
captures the power and growth potential of our new strategy, and serves
to eliminate any confusion about who we are and what we do," said Jay E.
Mincks, Insperity executive vice president of sales and marketing. "Our
research indicated there were some misconceptions about the company
given the former name, and we felt this change was essential in order to
best position our industry-leading services and solutions. Insperity is
a shining new identity that reflects our passion to help companies run
better, grow faster and make more money."
While the company has
reached astounding success during its 25-year history, research showed a
significant percent of business owners surveyed thought that
Administaff was in the temporary staffing business. The company is not,
and has never been, in this line of business, but the name led to
confusion. This became more evident over the years, especially during
the recession, and the corporate identity change has been implemented to
eliminate any barriers that might limit the company's ability to reach a
Insperity will begin trading on the New York
Stock Exchange under the new ticker symbol, NSP, effective, Wednesday,
March 9 at which time the CUSIP number for the common stock will change
from 007094105 to 45778Q 107.
A new advertising campaign,
created and developed by Insperity's marketing department, will launch
this month and include television and radio commercials, as well as
print and interactive advertising. Jim Nantz, CBS sports commentator,
who has joined Insperity's national spokesperson team along with Arnold
Palmer, will be featured in the campaign.
Insperity, a trusted
advisor to America's best businesses for more than 25 years, provides an
array of human resources and business solutions designed to help
improve business performance. Insperity Business Performance Advisors
offer the most comprehensive Workforce Optimization solution in the
marketplace that delivers administrative relief, better benefits,
reduced liabilities and a systematic way to improve productivity.
Additional offerings include MidMarket Solutions, Performance
Management, Expense Management, Time and Attendance, Organizational
Planning, Employment Screening, Recruiting Services, Retirement
Services, Business Insurance and Technology Services. Insperity business
performance solutions support more than 100,000 businesses with over 2
million employees. With 2010 revenues in excess of $1.7 billion,
Insperity operates in 58 offices throughout the United States.
statements contained herein that are not historical facts are
forward-looking statements within the meaning of the federal securities
laws (Section 27A of the Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934).You can identify such forward-looking
statements by the words "expects," "intends," "plans," "projects,"
"believes," "estimates," "likely," "possibly," "probably," "goal,"
"objective," "target," "assume," "outlook,""guidance," "predicts,"
"appears," "indicator" and similar expressions.Forward-looking
statements involve a number of risks and uncertainties.In the normal
course of business, Administaff, Inc., in an effort to help keep our
stockholders and the public informed about our operations, may from time
to time issue such forward-looking statements, either orally or in
writing.Generally, these statements relate to business plans or
strategies, projected or anticipated benefits or other consequences of
such plans or strategies, or projections involving anticipated revenues,
earnings, unit growth, profit per worksite employee, pricing, operating
expenses or other aspects of operating results.We base the
forward-looking statements on our expectations, estimates and
projections at the time such statements are made.These statements are
not guarantees of future performance and involve risks and uncertainties
that we cannot predict.In addition, we have based many of these
forward-looking statements on assumptions about future events that may
prove to be inaccurate.Therefore, the actual results of the future
events described in such forward-looking statements could differ
materially from those stated in such forward-looking statements.Among
the factors that could cause actual results to differ materially are:
(i) changes in general economic conditions; (ii) regulatory and tax
developments and possible adverse application of various federal, state
and local regulations; (iii) the ability to secure competitive
replacement contracts for health insurance and workers' compensation
contracts at expiration of current contracts; (iv) increases in health
insurance costs and workers' compensation rates and underlying claims
trends, health care reform, financial solvency of workers' compensation
carriers and other insurers, state unemployment tax rates, liabilities
for employee and client actions or payroll-related claims; (v) failure
to manage growth of our operations and the effectiveness of our sales
and marketing efforts; (vi) changes in the competitive environment in
the PEO industry, including the entrance of new competitors and our
ability to renew or replace client companies; (vii) our liability for
worksite employee payroll and benefits costs; (viii) our liability for
disclosure of sensitive or private information; (ix) our ability to
integrate or realize expected returns on our Adjacent Business strategy,
including acquisitions; and (x) an adverse final judgment or settlement
of claims against Administaff.These factors are discussed in further
detail in Administaff's filings with the U.S. Securities and Exchange
Commission.Any of these factors, or a combination of such factors, could
materially affect the results of our operations and whether
forward-looking statements we make ultimately prove to be accurate.
to the extent otherwise required by federal securities law, we do not
undertake any obligation to update our forward-looking statements to
reflect events or circumstances after the date they are made or to
reflect the occurrence of unanticipated events.
SOURCE: Administaff, Inc.