LifeWorks (formerly Morneau Shepell) Among HCM Top 500

895 Don Mills Road Tower One, Suite 700

Toronto, ON, M3C 1W3, Canada

1 416-445-2700

https://www.lifeworks.com/

42

LifeWorks (formerly Morneau Shepell) Strengths, Domain Expertise, and Key Differentiators

LIfeWorks is a provider of technology-enabled HR services that deliver an integrated approach to well-being through a cloud-based platform. The focus is on providing everything clients need to support the mental, physical, social and financial well-being of their people.

LifeWorks (formerly Morneau Shepell) Recent Developments

In May 2021 LifeWorks (formerly Morneau Shepell) has changed its ticker symbol on the Toronto Stock Exchange (TSX). Effective May 20, 2021, the Company’s shares will trade on the TSX under the symbol “LWRK.” In the interim, shares will continue trading under the symbol “MSI.” LifeWorks Inc.’s new CUSIP number assigned to the Company’s common shares is 53227W105 and its transfer agent is AST Trust Company. Existing shareholders are not required to take any action with respect to the rebranding and ticker symbol change.

LifeWorks (formerly Morneau Shepell) Mergers and acquisitions (M&A) Activities

In September 2021 LifeWorks acquired Ascender, a leading psychological services provider in the field of employee health and wellbeing. Headquartered in the Netherlands, Ascender’s highly experienced team of 38 employees and approximately 40 freelancers will join LifeWorks and continue to operate out of its 25 locations across the Netherlands, with existing clients seeing their services continue uninterrupted. As Ascender is integrated into LifeWorks global operations, it will operate in the Netherlands on a largely standalone basis, servicing clients throughout the Benelux region. With Ascender’s strong track record of growth, local knowledge, and clinical expertise, the move will allow LifeWorks to continue to expand its total wellbeing solutions to domestic European markets and harness its existing relationships with insurance providers, hospitals, and care companies as well as (multi)nationals working out of the Netherlands post-Brexit.

In February 2021 LifeWorks acquired all of the outstanding shares of SMG Health Pty Ltd. LifeWorks combines an award-winning employee assistance program (EAP) with best-in-class digital user experience and clinical support through its business to help employees through everyday issues and concerns about family, health, life, money, and work. SMG’s services combine mental health services, physical wellbeing checks, and social health programs to deliver improved individual and organizational performance and productivity.

In March 2020, the Company sold its benefits consulting business to HUB International Limited for a purchase price of $70,000 subject to working capital adjustments. $67,535 was received on closing, with the remainder to be received over the next 24 months once all the working capital adjustments and holdback conditions have been satisfied. The divestiture aligns with the Company’s growth strategy, which includes being a clear market leader in the businesses in which we operate, owning the total well-being space, accelerating growth through geographic expansion and leveraging technology to deliver a seamless experience for clients and their employees.

LifeWorks (formerly Morneau Shepell) Customers in ARTW Customer Database

Leveraging a rigorous data-centric research methodology, APPS RUN THE WORLD asks the simple question: Who’s buying LifeWorks (formerly Morneau Shepell) applications and why? And we provide the answers – supported by decades of research – to our clients around the world. Our Customer database has over 100 data fields that detail company usage of LifeWorks (formerly Morneau Shepell) and other enterprise apps by function, customer size, industry, location, implementation status, partner involvement, Line of Business Key Stakeholders and IT decision makers contact details. List of Verified LifeWorks, Benefit Administration customers.

LifeWorks (formerly Morneau Shepell) Key Cloud and HCM Applications

LifeWorks, Benefit Administration

LifeWorks (formerly Morneau Shepell) HCM and Cloud HCM Applications Revenues, $M:

Type/Year20192020YoY Growth, %
Total Revenues, $M Subscribe Subscribe Subscribe
HCM Applications Revenues, $M Subscribe Subscribe Subscribe
Cloud HCM Applications Revenues, $M Subscribe Subscribe Subscribe

* HCM Applications Revenues = License + Support & Maintenance + SaaS ( Hardware and Prof. Services are Excluded )
** All revenue figures are estimates based on public records, Cloud and Non-Cloud business models in Apps Run The World's vendor database, and annual survey results including vendor feedback.

LifeWorks (formerly Morneau Shepell) Revenue Breakdown by Type:

TypeLicenseProf. ServicesHardwareSupport & MaintenanceSaaSPaaSIaaSOther (Non Enterprise Application Revenues)Total
% of Total Revenues Subscribe Subscribe Subscribe Subscribe Subscribe Subscribe Subscribe Subscribe 100%
Revenues, $M Subscribe Subscribe Subscribe Subscribe Subscribe Subscribe Subscribe Subscribe Subscribe

LifeWorks (formerly Morneau Shepell) Total and HCM Applications Revenues by Region:

Region% of Total Revenues2020 Total Revenues, $M2020 HCM Applications Revenues, $M
Americas Subscribe Subscribe Subscribe
EMEA Subscribe Subscribe Subscribe
APAC Subscribe Subscribe Subscribe
Total Subscribe Subscribe Subscribe

LifeWorks (formerly Morneau Shepell) Direct vs Indirect sales

RegionDirect SalesIndirect SalesTotal
Type % Subscribe Subscribe Subscribe
Revenues, $M Subscribe Subscribe Subscribe

LifeWorks (formerly Morneau Shepell) Customers - Breakdown by Geo, Size, Vertical and Product

List of Verified LifeWorks (formerly Morneau Shepell) Customers


No. of LifeWorks (formerly Morneau Shepell) Customers: 24000

No. of LifeWorks (formerly Morneau Shepell) HCM Applications Customers: 7000

No. of LifeWorks (formerly Morneau Shepell) Cloud HCM Customers: 7000

No. of LifeWorks (formerly Morneau Shepell) Cloud HCM Subscribers: 6200000


LifeWorks serves 24000 client organizations that use its platform and services in 162 countries and added 6500 customers to its portfolio.

LifeWorks (formerly Morneau Shepell) Market Opportunities, M&A and Geo Expansions

The benefits consulting business represented approximately 3% of the Company’s consolidated revenue for the year ended December 31, 2019. The exited business was considered to be part of the Health & Productivity Solutions line of business and consisted of working capital, capital assets, intangible assets, and goodwill.

LifeWorks (formerly Morneau Shepell) Risks and Challenges

Revenues depend heavily on services.

LifeWorks (formerly Morneau Shepell) Ecosystem, Partners, Resellers and SI

Through strategic acquisitions in the past two years, LifeWorks has significantly expanded its geographic market space and solutions portfolio. The Company is better positioned today to provide solutions on a global basis, including support for multinational enterprises seeking consistent quality in their well-being strategies that cross borders and serve large workforce populations. LifeWorks expects acquisitions and strategic partnerships to play a continuing role in their expansion, supplementing our focus on driving organic growth in all core lines of business.

LifeWorks (formerly Morneau Shepell) Cloud Platform (PaaS) and Infrastructure (IaaS) Details

Subscribe to read more about:

  • LifeWorks (formerly Morneau Shepell) Public Cloud and Infrastructure (IaaS)
  • LifeWorks (formerly Morneau Shepell) Platform (PaaS)
  • LifeWorks (formerly Morneau Shepell) Application Delivery
  • LifeWorks (formerly Morneau Shepell) Private Cloud and Data Centers

Research Methodology

Data used in research reports are derived from publicly available documents, continuous surveys of applications vendors, customers, resellers, Independent Software Vendors, systems integrators and other verifiable sources.


Vendor shares and market forecast results are based on a combination of existing databases as well as demand side and supply side research conducted throughout the year with validation from vendors, customers, channel partners and documentations such as earnings releases and 10Q and 10K filings, vertical industry studies, regional and country-level statistics from public and private institutions(i.e. colleges, universities, government agencies and trade associations).


For additional information on our methodologies, here's the link:

https://www.appsruntheworld.com/About Us
https://www.appsruntheworld.com/taxonomy
https://www.appsruntheworld.com/FAQ

Copyright © 2022, APPS RUN THE WORLD