We had a fantastic quarterly planning session in Nashville a couple of weeks ago and I think it’s safe to say that we are going to do some great things in 2018! I was excited to get to spend time with all of you and see the alignment among our team as we talked about the next quarter, year, and what Mosaic will look like, a few years down the road.
2017 was another incredible year – thanks to each and every one of you and what you do for Mosaic and our clients. Here are a few highlights:
- We made a difference and inspired confidence for 184 clients.
- Our Client Engagement team brought on 75 new Mosaic clients, and closed 227 opportunities.
- We worked on 371 projects that generated over 54,000 billed hours.
- We broke through our sales target of $5.6 million to close the year at $6.2 million in total sales.
- We ended the year with a solid 82% utilization rate, 61% return clients and 42% recurring revenue. We’re trying to land on the right mix of net new and existing clients. Our goal is to get to a 50/50 ratio within the next three years.
- We exceeded our financial target for the year with total revenue of $8.7 million,
- Our team grew to 62 Mosaicians by year-end.
- All in all, our combined effort resulted in Mosaic growth of 45% for 2017.
Wow! What an amazing year.
But our accomplishments in 2017 go far beyond the numbers. We stabilized variation in our utilization by better forecasting, predicting needs and assigning resources for better balance across all practices. We created new roles dedicated to helping our team problem-solve and develop innovative solutions, collaborate better across practices, and make sure everyone has the support and resources they need to get the job done. This also allowed us to create some exciting new career opportunities for our experienced Mosaic team members – a win for everyone!
We had some changes on our team over the past year as people moved into new roles, or moved on to opportunities outside of Mosaic. I like to think that we prepare people well for anything they want to achieve, and sometimes, that path leads them away from Mosaic. We effectively managed changes in our team composition with incredible teamwork – people filled the gap when a team member moved on, or teammates were dealing with a personal situation and needed emotional support or professional back-up to keep things going smoothly. It is so awesome to see the way this team cares for one another – and for our clients!
I think 2017 was a watershed year for us in client service because we not only grew the number of clients we serve, but we laid down in stone how we will nurture and grow those relationships and expand our footprint. We defined an account management strategy and rolled out our CSAT, our first client satisfaction survey, which will give us important feedback from our clients about how well we’re serving them, where we’re WOWing them, and where we can improve.
We improved our benefits and kept premiums the same for our team. We were so proud to be able to pay out a grant payment to our participants in our Mosaic deferred profit sharing program this year. We performed Mosaic’s first compensation review to ensure that we are competitive. We began performance management to give our team the feedback you’ve been asking for in a formalized way, and also make sure those important conversations between managers and team members happen on a regular basis. We closed Q4 in February with a very special mile marker: Mosaic’s 7th birthday. We had to a lot to celebrate in 2017.
I want to quickly recap how we finished Q4 and give a look ahead to our company priorities for Q1:
Our Q4 Company Priorities
Roll-out MTE Performance Management– Krystyn Sadler
Our People & Culture team focused on roll-out and full adoption of our MTE performance management process in UltiPro. Our goal was to fully develop and deploy our performance management system in 2018. Our managers have begun 1:1s with their direct reports, and most of you have had at least one at this point. The performance management system is loaded and being tested in UltiPro, and we’ll begin quarterly and annual reviews this month. You asked us for feedback on how you are doing and support in developing your Mosaic career, and our team delivered. Kudos to Krystyn and her team for this massive effort and making this a reality.
Clear Client and Project Communication from SOW to STOS – Matt Hill
This priority rolled forward from last quarter, and we continue to work on our communications strategy and roadmap to guide our internal and external interactions and support better information-sharing. We established owners of the updated or newly created tools at our last quarterly meeting, and over the last quarter, these tools were socialized by practice managers and put into use as part of their internal and external communications process. Over the past quarter, we identified additional resources for setting and managing client expectations, client check-ins and project transitions. We will continue to identify resources and tools needed by our team for transparent information-sharing and timely hand-off of internal information and consistent, professional client-facing communication to build long-term relationships and show them the value we can bring.
Address Top 5 Clarizen Pain Points – Denise Maddox
Denise and Andy conducted a survey to get everyone’s input on the top five Clarizen areas that need immediate attention to help our team use Clarizen more effectively. The goal was to improve processes, fields and workflow to support ease of use. We used the team’s feedback to help target the most immediate needs and prioritize the necessary changes. Our team actually identified seven pain points which we’ve addressed with additional staff resources, changes within Clarizen to enhance flexibility on project resource assignments and reporting, Clarizen training, and a Clarizen playbook. Our newly created staff positions provide additional support and enhance workflow — Paula Scott as Resourcing Manager and Andrew Stewart as Solutions Architect, and Todd Fouss as Professional Services Manager – and also allowed us to create new career paths for experienced and valuable Mosaic team members to continue to grow professionally and mentor other team members.
Remote Desktop Roll-out– Matt Hill
Over the past quarter, we converted to a remote desktop server for increased security and speed and enhanced file storage and sharing capabilities, as well as back-up of important company information. The server will offer better security for both Mosaic and client information – no sensitive data will be stored outside this environment. The remote desktop is now fully developed and deployed and our new shared file system is created. This quarter, we will move to the remote desktop system as Mosaic’s official operating system and transition company files from ShareSync to our new file system. Big congratulations to Matt, Andy and Peyton and to our remote desktop pilot users, who helped us test the system and work out the kinks before introducing it to the entire team!
Develop Account Management Guidelines and Structure – Cherie Barnier
As you all know, our client experience is a top priority at Mosaic. Cherie has done a fantastic job defining and developing account management guidelines to share information more seamlessly between our services teams and account management to ensure there are no gaps in our support to clients and that we can deliver consistent and professional service. This structure will help us to set and manage client expectations effectively and build and foster great client relationships as our account management and service teams walk hand in hand throughout the client service process. Thank you, Cherie, for tying it all together for us and providing us a foundation to work from!
Our leadership team has a one- and three-year strategic plan. In looking at our goals for 2018, we considered, what do we need to accomplish this quarter, to make those one-and three-year goals happen? This formed our company priorities for the upcoming quarter.
Our Q1 company priorities:
Recruiting Dashboard Complete with Adoption of “A” Method in Hiring (Krystyn Sadler) Finding the best talent that is the right fit for our organization requires intent and strategy. We have decided to adopt the “A” method for interviewing and hiring new team members and we’ll train our hiring managers in this approach. We’ll also utilize the UltiPro recruitment dashboard to track where our applicants are in the process to make sure they have a good experience.
Company Adoption and Tracking of the Performance Management Process in UltiPro (Krystyn Sadler)
We have our performance management strategy designed for our team. The intent is to have frequent conversations about how you’re doing and where to further develop over the next quarter. We will be having our first review season with everybody – whether quarterly or annual – this quarter, and developmental 1:1s are already underway. We want to invest in our people and continue to refine our training and development strategy. Our people are our most important asset.
Define and Document Single Vision for All Recurring Services, Assess Current State vs. Desired State (Karen Fanelli)
We will develop a strategy to enhance consistency across all practices and identify and pilot ideas for additional services that will provide value to our customers. This strategic vision focuses on improving customer stickiness, improving our financial and forecasting predictability, and proving us to be a differentiator in the HR/Payroll services industry. The vision will include what the optimal client experience means and an action plan to execute.
Review and Re-energize the Mosaic Client Experience (MCE) (Cherie Barnier) We will review the current the client experience, expand the vision and strategy with clear paths to execute and engage with all clients in delivering against Mosaic’s core purpose to make a difference and inspire confidence.
Define Alignment of Pipeline, Resourcing, and Hiring Strategy for All Service Lines, Assess Current State vs. Desired State (Mike Webb)
This priority is step one to us aligning our sales pipeline with recruiting and resourcing so we can have a 90-day view ahead in the organization. The goal is to even out our peaks and valleys for all team members — consultants, managed service representatives, sales and our People & Culture team – and identifying how we can make things easy.
This team, tactically and professionally speaking, is at the top of our game. I am humbled to work with all of you. Your jobs here at Mosaic continue to evolve as the company grows. I think our challenge is, as we grow as a company, to make sure our people grow too, all while maintaining our culture and core values.
In 2018, we are continuing to focus on the heartbeat of our company – the team experience and the client experience. So, what does success look like? We want to keep finding those “unicorns” with the unique blend of skills and experiences that are a perfect fit for our team and our culture. Good communication internally and externally and a consistent experience for our team and for our clients is a priority. We’re focusing on developing soft skills and elevating our team members, so you can grow – supporting you in becoming experts in areas you’re passionate about and creating leaders to grow our business. We know that ultimately, a great team experience leads to a great client experience.
Thank you for your incredible work this year. I can’t wait to see what we do together in 2018.
Your biggest cheerleader,