UKG, a leading provider of HR, payroll, workforce management, and culture solutions for all people, provided a business update for the first quarter of fiscal 2024, ending December 31, 2023.
“The first quarter was a celebration of our customers’ loyalty and ingenuity,” said Chris Todd, CEO at UKG. “The momentum of customer migrations to modern UKG solutions continued, especially among our largest customers, and customer retention across the board continues to be strong. We also had a great quarter for large deals, as we doubled the ARR from $1 million-plus deals compared to last year. These factors, along with a particularly strong quarter for both public sector and retail sales, combined to help surpass expectations for new contracts won by UKG. We also hosted our largest-ever Aspire customer conference where we honored a record 15 customers from around the world through our annual Innovation Awards competition for using UKG technology to create a great place to work that drives better business outcomes.”
First Quarter 2024 Business Highlights
UKG debuted several new solutions and enhancements at Aspire, where 5,000 customers, partners, and HCM thought leaders collaborated to inform and inspire their work journeys and support their people’s success. These innovations, which helped UKG again land on Fortune’s America’s Most Innovative Companies list for its product innovation, process innovation, and innovation culture, include:
- UKG Bryte, an AI-powered assistant for great workplaces that uses generative AI (GenAI) to help guide employees, people managers, and HR leaders by shining a light on important insights that support great workplace experiences and GenAI models that have been trained on 30 years of Great Place To Work benchmark data and proven best practices
- The availability of the UKG Great Place To Work® Hub to all UKG Pro customers, enabling them to transform HR metrics into opportunities for equity, belonging, and creating great leaders.
- UKG One View, which helps multinational organizations manage their entire workforce — from complex scheduling to payday — with the same consistent experience, regardless of where in the world their employees work.
- The launch of UKG Pro Benefits Hub, an entirely new, modern benefits experience that makes it easier for employees to understand the full scope of their benefits options.
In the quarter, UKG also announced the second cohort of early-stage companies from four different countries — all of whom are committed to helping businesses create high-performing, people-centric cultures — as part of its fast-growing, in-house global startup ecosystem and virtual laboratory, UKG Labs.
This dedication to innovation and the customer experience (CX) led UKG customers to continue to share stories of how their partnership with UKG drives business growth, supports their frontline workers, and helps create a great place to work for all, including Boba Tea Company, Costa Coffee, and Hartford HealthCare. New and longtime customers that selected UKG HR, payroll, workforce management, and culture solutions in the quarter included:
- A tech giant known for its smartphones, tablets, and computers, with over 150,000 employees;
- A well-known clothing retailer recognized for its diverse fashion offerings from casual wear to trendy styles with nearly 130,000 employees;
- One of the world’s largest food companies and a recognized leader in protein with about 140,000 employees;
- One of Australia’s largest non-government community services provider networks, with more than 40,000 employees and 30,000 volunteers working at 1,600 locations nationwide;
- The world’s third most visited theme park, located in Japan, which hosts more than 12 million guests per year;
- The electronics division of a global enterprise operating in more than 100 countries across India with a mission to improve the quality of life of the communities they serve;
- Forty stores in Mexico of one of the world’s largest membership-only, big-box warehouse club retail stores;
- A global sportswear brand known for its athletic footwear, apparel, and accessories with close to 80,000 employees;
- One of the largest railway companies in the UK and the primary provider of rail service across Scotland serving nearly 100 million passenger journeys each year;
- A global logistics and supply chain technology company that provides customers and businesses with a broad portfolio of transportation, e-commerce, and business services; and
- A renowned designer and distributor of toys that drives children’s imagination with over 27,000 employees in 40 countries.
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