Third Party Administrators - A Growing Niche Market
Relationship Manager / Account Manager (Current Employee) – Tempe, AZ – August 20, 2015
My tenure at WageWorks has been upward and positive for the most part. If you open yourself to opportunity, WageWorks can be a great learning platform and gives a great perspective into the Third Party Administration (TPA) industry.
My dissatisfaction lies in the many layoffs that have occurred since I have been there. These layoffs have been due to company acquisitions each year. Over the course of my tenure, I have witnessed the consistent demise of staff morale. When I joined the company, it was not publicly traded. In 2012 when the company went public, the dynamic drastically changed where the company focus was no longer employee retention, but more so client retention. With the emphasis on growing the company, employees began to feel less and less valued. It didn't seem as though Management had an eye or ear to the pervasive employee retention issues. To date, I have not seen a change and employee retention seems to be at an all time low.
It's a solid company with much to offer, however, I would not place all my eggs in this basket as over time, as with anything, things become stale.
Employee Retention - Staff Morale