LOCATION: 12075 N. Corporate Parkway, Suite 100, Mequon, WI 53092
Year founded: 1998
Product or service offered: Professional employer organization – human resource services for small professional business firms.
Projected 2009 revenue: $65 million
CEO, President/Owner(s): Scott Rasmussen, president; Karl Williams, Jim Gettel, Paul Salb, Jack Knapp, Lee Mueller, Mike Merkatoris, owners.
Leadership team: Michael Silverman, CFO; Paul Salb, sales leader; Tim Stadler, HR team leader
Target clientele: Smart professional firm owners who want to do what they do best and not focus their time and energy on what Waterstone HR does best: providing excellent human resources, payroll and benefit administration services.
Business organization memberships: Metropolitan Milwaukee Association of Commerce; National Association of Professional Employer Organizations;
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 is the biggest obstacle to your company’s growth?
Prospects who try to value our services by what it costs vs. the incredible revenue and profit opportunity it provides them by freeing them to focus their time and energy on what they do best.
Do you plan any changes in your company in the upcoming months?
We have added a new sales representative, installed a new CRM system and will be updating our benefits offerings.
Who are the business people, locally or nationally, whom you admire? And what traits do those people exhibit that make you admire them?
Rich Teerlink, former CEO of Harley and George Dalton, former CEO of Fiserv. Both had a passion for understanding and building their companies around how to please their customers and both built great internal cultures to allow their employees to continue this goal even after they departed.
What is the outlook for the business conditions of your industry over the next several months?
Despite the overall economic outlook we are bullish on the business conditions. Our privately held, small professional firm customers are retaining their most valuable assets – their employees, even during this soft economy. 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 when the general economy improves.
What is 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.
Congratulations from the strategic partners behind Waterstone HR.