Just a Minute with scott Rasmussen, President, The Waterstone Group Employment Administration Services LLC

Last updated on May 13th, 2019 at 02:36 pm

Company address

1035 West Glen Oaks Lane, Suite 100, Mequon, WI 53092

Company Web site



Professional human resources services; professional employer organization (PEO); and an affiliate company, The Waterstone Group, which provides technical staffing services.

Number of employees


Company’s annual revenues

More than $35 million


Bachelor’s degree in business administration, University of Wisconsin-Milwaukee; master’s degree in business administration, Marquette University.


Wife, Kim (married for 24 years); and children, Chadric, Adam, Rebecca and McKenna.

What was the smartest thing your company did in the past year?

"The explosive growth our PEO model has experienced over the past several years created the need to upgrade and improve our backroom administration system. We selected and are installing a sophisticated system which is tailored to the PEO industry."

What’s new at your company?

"The payroll, benefits administration and accounting system that we installed will be the biggest item for us to adjust to this year."

Do you plan to hire any additional staff or make any significant capital investments in your company in the next year?

"We will purchase a customer relationship management platform to add to the top of our new administration system. In addition, we will be hiring several new customer contact employees, both sales and service."

What will be your company’s main challenges in the next year?

"To operate our new systems in a seamless fashion that enables us to manage the growth of the customer base while continuing to provide the outstanding ‘Raving Fan’ service we promise. Our other main challenge is to grow our staff with the type of individuals who will match our promise of providing outstanding customer service."

What’s the hottest trend in your industry?

"The PEO sector is the hottest trend in the HR outsourcing sector. Business owners are recognizing the significant value of this unique service. It’s turnkey payroll, benefit administration and human resource platform saves them time, money and helps soothe some of their biggest employee headaches. SHRM and other organizations are also recognizing the industry as a tremendous growth engine in the HR processing world."

Do you have a business mantra?

"In business and personal matters, trust is everything. No legal document or business agreement will prevent you from getting burned by people you cannot trust. Close to this is to ‘walk your talk.’ It’s the only way you can earn trust in return."

From a business standpoint, who do you look up to?

"After spending 25 years in the Milwaukee business community, 17 as a commercial banker with Firstar, I have been fortunate to have met and learned from many of the area’s best business leaders. Rich Teerlink, former CEO of Harley-Davidson Inc., however, stands out as perhaps my favorite. He never forgot the people and organizations who helped him and Harley during the tough years. I especially admired his passion for staying close to the customer and pulling out the best from his people."

What was the best advice you ever received?

"I am not sure who I heard it from, first but the ‘walk your talk’ mantra has served me well throughout my career. Former Firstar chairman Roger Fitzsimmonds was also very helpful with advice he provided on how to balance your professional, personal and community lives."

What’s the funniest thing that ever happened to you in your career?

"I was fortunate to have been the relationship manager for Harley-Davidson during my banking career, and the annual ‘working conference’ in Daytona Beach each year as part of Bike Week had countless fun memories that unfortunately will have to remain confidential until my memoirs are written."

What do you like to do in your free time?

"I enjoy spending time with my family. This includes youth coaching (currently soccer for both girls), reading, family vacations and going out to dinner with good friends."

Sign up for BizTimes Daily Alerts

Stay up-to-date on the people, companies and issues that impact business in Milwaukee and Southeast Wisconsin

No posts to display