NEW YORK, June 18, 2019 /PRNewswire/ -- Namely, a leading HR platform for mid-sized companies, today announced that Longboard Asset Management freed up time from human resources administration by automating and outsourcing payroll, benefits, and performance management processes with Namely. As a result, the business increased its focus on company culture and employee accountability to improve organizational health.
Longboard is a boutique investment manager that delivers the diversification benefits of hedge funds without hedge fund performance fees, in order to make alternative investments more accessible for more people. With constantly fluctuating financial markets, the company requires flexibility to quickly build up or draw down its workforce, while maintaining critical HR capabilities like tracking employee data, managing payroll runs and tax filings, administering benefits, onboarding employees, and developing talent. Longboard's one-person HR team relies on Namely's all-in-one HR platform, in combination with Namely's managed services offering, to support these needs as the business evolves.
"Namely handles all of our day-to-day foundational HR tactics, so I can proactively focus on the big picture surrounding our people strategy, overall organizational health, and pay equity," said Jessica Neves, Longboard's human resources director. "Now, I'm leading initiatives around our company culture and values, employee communications, and operational excellence, while ensuring we have the right strategy to efficiently scale up and down as market conditions demand."
Performance insights and people analytics support cultural transformation
Since adopting the Namely platform, the company improved several HR workflows with:
- Robust performance management: When Longboard recently revamped its mission and values, it used Namely to increase employee accountability by moving to a monthly performance review cycle. Namely performance dashboards help managers stay on top of their review tasks and document values-focused assessments for each team member. This frequent, meaningful feedback loop ensures more efficient, effective output from both employees and their managers.
- Deepened people analytics: With Namely's new analytics capabilities, Neves now monitors attrition and career growth trends to identify people dynamics that require her attention. For example, after one cohort of new hires experienced higher-than-normal attrition rates, Longboard updated its interview process to include more clear communication of role expectations.
- More efficient HR administration: Namely's intuitive interface and seamless automation streamline several previously time-consuming HR projects, such as pulling year-end payroll or salary reports, completing employee verifications, and updating benefits changes in payroll.
Namely's managed services bridge HR knowledge gaps and increase efficiency
In addition to the software's advantages, Longboard taps Namely's payroll and benefits expertise to supplement its limited internal HR resources with managed services consultants who administer the Namely platform and provide helpful HR guidance. The outsourced team takes several cumbersome tasks off Neves' plate, including data entry for bonus pay runs and researching payroll considerations for new locations. Namely's brokerage services team also provides detailed recommendations surrounding non-traditional benefits for critical illness and accident coverage, and manages carrier and rate changes, as well as open enrollment education for Longboard employees.
"We do zero-based budgeting here, which means I have to rejustify our investment in the Namely software and managed services every single quarter," said Neves. "Thankfully, it's easy to show the value of the partnership, since our amazing Namely consultants save me a day or two of administrative work every single week. They understand our business, collaborate with me to support the company's HR needs, and go above and beyond to resolve any unexpected employee issues that come up." Neves also appreciates that she has a team at Namely who will provide continuity during her upcoming maternity leave, so there's no disruption to payroll or other critical HR processes.
"Congratulations to the Longboard team on the company's impressive strides in evolving the human resources function to elevate the health of the organization," said Graham Younger, president and chief revenue officer, Namely. "Jessica exemplifies 'HR for Humans' because she acts as a true resource and passionate advocate, not just to the business, but to each of the individual people in her organization."
Namely is the first HR platform that employees actually love to use. Namely's award-winning, powerful, easy-to-use technology allows companies to handle all of their HR, payroll, time management, and benefits in one place. Coupled with best-in-class account support, every Namely client gets the software and service they need to deliver great HR and a strong, engaged company culture. Namely is used by more than 1,300 clients with 250,000 employees globally. Headquartered in New York City, the company is backed by investors including Altimeter Capital, GGV Capital, Matrix Partners, Scale Venture Partners, Sequoia Capital, Tenaya Capital, and True Ventures. For more information, visit www.Namely.com.