Marlowe: WorkNest Acquisition
Former Sales Director at WorkNest
inpractise.com/articles/marlowe-worknest-business-and-acquisition
Former Sales Director at WorkNest
Interview Transcript
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What does WorkNest have to do to get further along in this market?
They have started to do it with bolt-on services to the employment law, HR and health and safety products, which are becoming increasingly important. A good example is HR software, where you can input employee details so they can request holidays which their line managers can authorize through the software. It can also record sick absences, return to work interviews and run your annual appraisal processes. Ellis Whittam had a poor version of that. Just before I left, Marlowe bought Youmanage for just over £1 million. At that price, you either get something very early stages or not very good, and Youmanage is not good. Peninsula have their own in Bright HR, which is absolutely superb and good enough to be a lead product. WorkNest currently have a bolt-on product to their employment law and the HR service which is not good enough to be a lead product.
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They have good software now though?
They do have really good software. The quality end of the Peninsula business is their Bright HR and Health Assured offering, whereas the quality end of the WorkNest business remains the day-to-day advice their health and safety consultants, employment law advisors and solicitors are giving. Citation are in between the two. There are some big differences. Peninsula offer legal expenses insurance but own the insurance company, and never tell prospects it's a wholly-owned insurance company. The big difference we always felt was they were always protecting their bottom line. We used to win business from businesses who subscribed to the Peninsula service, hadn't used it much, and in their moment of need when they had a claim, Peninsula found ways to refute the claim because they knew it would hit the insurance company. We used to sell heavily against that.
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