Insperity Inc. Overview

Insperity Inc. Overview

Previously known as Administaff, Inc., InsperIty Inc., is a professional employer company with its headquarters based in kingwood on the coast of Houston, Texas, United States. In its entirety, InsperIty Inc. avails its customers, of full human resources as well as administrative services to small and medium-scale enterprises. Its business segments include Risk Management and HR-related Compliance, Talent Management, Human Resources Support,  Human Resources Technology, Employee Benefit, & Human Resources Admin and Payroll. Since its inception in the year 1986, InsperIty Inc. has continued to grow steadily and seamlessly, becoming a force and key player in the professional services industry. As a result of the company’s vastness in size and overall operations and proceeds, InsperIty Inc., is enlisted on the 2022 Fortune 500 list, ranking in the 611th position which signifies the company’s prosperous status in terms of revenue generation amongst the largest companies in the whole of America. Beginning in the year 2004, InsperIty Inc. has been the title and major sponsor of a professional golf tournament on the Champions Tour, which was previously known as the Administaff Small Business Classic. Since its founding year in 1986, Paul J. Sarvadi, the chairman of the board of Directors, and co-founder, as well as the Chief Executive Officer (CEO)  of the company. Paul is a Class II director and since the company’s founding year, he has been a director all along. As of 2007, Insperity, Inc., recorded as its overall revenue, a total sum of 1.72 Billion USD. This piece will, however, reveal to you a more detailed, comprehensive, and extensive review of InsperIty Inc. its operations, and its dealings. As such, all relevant information detailing its key facts, its evolution, its business segments and service offerings, its financial overview, as well as its pros and cons will be concisely covered to enable you to understand the significant and major elements of the fastening-oriented company as quickly as possible.    

Insperity Inc. Key Facts

Founding Year: Insperity Inc. was founded in the year 1986, approximately 36+ years ago.  

Industrial Ranking: Insperity Inc. was ranked on the Fortune list, taking the 611th position in the year 2022

Company Type: A Public Corporation (PLC)   

Market Reach: In its overall operations, Insperity Inc., has over 80 offices scattered across the United States 

Industry Type: Professional Services Industry 

Customer Strength:  Insperity, Inc., serves over 100, 000 businesses with over 2 million employees in their workforce altogether.

Trading Type: Insperity Inc. is traded on the New York Stock Exchange (NYSE) market under the ticker symbol, NSP while completing its IPO (Initial Public Offering) in the year 1997. 

Workforce Strength:  Insperity, Inc., had a total number of 2, 900 employees in its workforce globally as of 2017.   

Accreditation: Insperity, Inc., is accredited and rated A+ by Better Business Bureau (BBB)

Insperity Inc. Evolution

Founded in the year 1986 by a tech-oriented entrepreneur, Paul J. Sarvardi, Insperity, Inc., is a leading human resources tool and business performance solution that works best for major and big businesses in North America. The company’s dealings centers on availing customers of a comprehensive and efficient suite of products and services tailored to meet customers’ satisfaction and build relationships. Insperity, Inc., helps deliver and provide better benefits, administrative relief, and mitigate liability as well as a strategic and systematic way of improving companies’ productivity through its forerunner Workforce Optimization Solution. The company’s additional service offerings include but are not limited to Payroll Services, Expense Management, Time and Attendance, Employment Screening, Organizational Planning, Financial Services, Recruitment Services, Retirement Services, and Insurance Services, amongst others.  

Insperity Inc.’s Cutting-Edge Innovation

Insperity, Inc’s Telerik Test Studio allows 30% time savings on QA Testing and is regarded as a cutting-edge innovation one of the major innovative milestones that set Insperity, Inc. apart from its counterparts. This section will, however, reveal how the company was able to navigate its way to making the innovation successful.

The Challenge

Insperity, Inc., utilizes manual mechanisms for its Quality Assurance  (QA) processes to assist in quality improvement across all businesses. However, n a bid to keep up with the development, it was necessary to speed up the testing trails which immediately becomes a bottleneck. And although the team was eager and willing to get more testing done, however, due to the relatively difficult and complex manual testing required, the team then lacks the leverage.

Kimberley Baker the company’s Director of Quality lamented that the team could not achieve more due to the limited time it has to dedicate to testing trials as well as the jobs that needed to be done. Hence, faster and swift testing processes needed to be utilized so as to deliver value in business as soon as possible without jeopardizing its quality status. In a bid to tackle this great impasse, the team came up with a strategy which is to allow automation to take care of regression testing while its focuses on current Sprint work.

The Result

Since the implementation of the strategy, Insperity, Inc., has utilized Test Studio on two separate customer-facing products which are the OrgPlus software solution that allows firms to create stylish organizational charts and view major business performance metrics; and the Insperity HCM suite of web-oriented technology and tools for HR data and processes. In addition to this, the team has also automated some back-end web services testing.

The Solution

Ultimately, one of the members of Barker’s team recommended to the team, Telerik Test Studio. In a nutshell, Telerik Test Studio is relatively easy to implement, it has a flexible licensing model, and the price is relatively competitively priced. However, the team continues to utilize testing solutions developed by Insperity, Inc., for legacy apps, nonetheless, Test Studios was most suiting for testing web apps, and in this regard, Telerik Test Studio offers a seamless plug-in tool for web automation. Finally, Baker commented that using Test Studio increases the speed by 50% when compared to using alternative solutions, in that the interface allows the development of easy scripts, and as such, did not require extensive coding background. 

Insperity Inc. Business Segments and Other Services

Insperity, Inc., major business segments include:

Risk Management and HR-related Compliance

Talent Management

Human Resources Support

Human Resources Technology

Employee Benefit

Human Resources Admin and Payroll

Other services it offers include:

Payroll Services

Expense Management

Time and Attendance

Employment Screening

Organizational Planning

Financial Services

Recruitment Services

Retirement Services

Insurance Services

Key Financials

Revenue: 4. 973.1 Billion USD (2022)

Net Income: 124. 1 Million USD (2022)

Total Assets: 3.849 Billion USD (2022)

Total Equity: 4.1 Million USD

Pros and Cons of Insperity Inc.

Insperity, Inc. in its entirety offers a lot of benefits that are not only limited to its customers, owners, and employees alone but by extension, its immediate communities and the entire world at large. However, this section will outline the company’s major benefits and downsides to all its major stakeholders based on employees’ reviews on Glassdoor as well as a critical study of the company.

Pros

Financially Strong: Insperity’s existence for more than 30 years indicates the company’s sustainability in business without liquidating, hence proving to be a Rockefella company with a rock-solid financial strength

Adequate and Long-shot of Industrial Experience: The company’s industrial experience and lengthy years of existence are one of the strengths the company leveraged to build itself a world-class brand whilst delivering its services.

Industry Expert: Insperity, Inc. is an expert in the industry and as such, customers could rely on it completely for it knows “what’s now” and “what will be” in the field of business.

Social Support and Sustainability Development: Insperity, Inc. actively supports and strengthens sustainability by striving to enhance its approach to innovative products, and talent, and improving its impact on its global climate. Additionally, Insperity, Inc.’s philosophy is based on developing innovative and talent-driven products that help people flourish in across the world. In its entirety, Insperity, Inc. operates in such ways that help mitigate and reduce its carbon footprint while enhancing the sustainability of its global resources.

Embraces Cultural Diversity: Insperity, Inc.’s policy fosters and values cultural diversity and also invests in its employees.

A Fortune 500 Company: Insperity, Inc., is ranked on the 2022 Fortune list for its efficiency and high revenue generation.

Highly Rated: Insperity, Inc. is rated 4.5 out of 5 stars by customers commenting they feel good about Insperity, Inc.’s products and services.

Cons

Since the significant benefits of the company have been addressed above, it is, however, imperative to address its cons for objectivity purposes. Thus, the few lines below will quickly run through the cons of Insperity, Inc.

High Service Fee Rate: Comparing the charging rate of other HR-oriented companies, customers of Insperity, Inc., complain about the company’s charge rate which is on the high side

Relatively Complicated Website: The official website of Insperity, Inc., is not relatively seamless to navigate and visitors can easily get confused and mystified due to its interface complexity.

Conclusion

Insperity, Inc. is an amusing and intriguing case to study as a result of its relatively long years in the industry, its innovative milestones as well as its commitment to customer service. The above-detailed history shows that the company leverages its industrial insights and expertise to attain a great feat. Finally, I hope your expectation highlighted in the introductory portion of this paper have been addressed. However, on the off chance that you are yet to completely absorb all that is drafted in this piece at once, I recommend that you review it over and over again until you are in sync with the entire information.