Location: 12075 N Corporate Pkwy, Suite 100, Mequon
Year Founded: 1999
Product or Service offered: Professional employer organization; human resources services
Projected 2010 Revenue: $69 million
President and owner: Scott Rasmussen
Other key leadership members: Karl Williams, owner; Jim Gettel, owner; Paul Salb, owner; Jack Knapp, owner; Lee Mueller, owner; Mike Merkatoris, owner; Paul Salb, sales leader; Michael Silverman, CFO; Tim Stadler, HR team leader
Target Clientele: Small business owners
Business Organization Memberships: MMAC, National Association of Professional Employer Organizations; CEO’s of Growing Businesses; Brookfield Chamber of Commerce; BizStarts
What has fueled your company’s growth?
“A great group of smart customers, a unique strategic business model approach, a great staff of Waterstones and a clear focused business strategy.”
What has been the biggest obstacle to your company’s growth?
“Prospects who try to value our services using price as a measurement rather than the incredible revenue and profit opportunity we provide by freeing them to focus their time and energy on what they do best. Waterstone HR is not a payroll company or benefit broker. Rather it provides a unique solution to smart business owners who truly value the power of partnering with a great HR outsourcing firm.”
Do you have any planned changes for your company in the coming months?
“We have significantly upgraded our ability to provide human resource solutions to companies who may not be a good fit for the PEO model. We are providing specific HR project work and retained HR talent assignments to a wider variety of companies than our traditional professional service firm target market.”
Who are the business people, locally or nationally, whom you admire? What traits do those people exhibit that make you admire them?
“While no particular names stand out, I am attracted to the servant leader concept. As Waterstone HR has grown it is more apparent everyday that our future success lies in the hands of our great employees who are committed to providing raving fan quality service everyday. The leader’s job is to provide the framework and vision to direct their passion for doing great work and then let them do what they do best.”
What is the outlook for the business conditions of your industry over the next several months?
“Our privately held, small professional firm customers have withstood the economic storm and have stabilized and begun to grow their employee base. Smart firms recognize this as a great time to keep their great employees and attract new ones so they will be able to continue their strong growth trends as the year progresses. We believe our focus on working with companies who understand that their time should be spent developing their business and not on the administrative and HR processes that Waterstone excels at, has resulted in this overall positive trend and outlook.”
What has been your company’s key strategy for rising out of the recession?
“To aggressively spread the word that Waterstone HR represents one of the best strategic decisions a business owner can employ. Our customers continue to be our best referral sources because they believe so strongly that the great quality service provided to them by Waterstone HR allows them to be the best at what they do. This in turn allows them to be more successful, hiring more great employees in the process.”