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Rimini Street Earns Additional Great Place to Work® Certifications in US, Australia and New Zealand
Rhea-AI Impact
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Rhea-AI Sentiment
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Rhea-AI Summary
Rimini Street (NASDAQ: RMNI) has been recognized as a Great Place to Work-Certified organization in the US, Australia, and New Zealand. This certification is based on real-time employee feedback regarding workplace culture. Notably, 94% of US employees feel good about the company’s community contributions. The firm aims to reach $1 billion in annual revenue by 2026, leveraging a 19% compound annual revenue growth rate. Rimini Street is seen as a leader in third-party software support for Oracle and SAP, serving over 4,800 clients globally.
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94% of US employees feel good about the company's community contributions.
91% of Rimini Street employees in Australia and New Zealand report it as a great place to work.
80% of US employees view Rimini Street positively, surpassing the 57% national average.
19% compound annual revenue growth rate over the past five years.
Goal to achieve $1 billion in annual revenue by 2026.
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Rimini Street is now globally recognized by its employees for building an inclusive, high trust, high-performance culture with career growth and development opportunities for all employees
LAS VEGAS--(BUSINESS WIRE)--
Rimini Street, Inc. (Nasdaq: RMNI), a global provider of enterprise software products and services, the leading third-party support provider for Oracle and SAP software products, and a Salesforce partner, today announced that Rimini Street has earned the designation of Great Place to Work-Certified™ in Australia, New Zealand, and the US. Last year, Rimini Street was certified in India, Korea, and the UK.
Great Place to Work is an internationally recognized benchmark certification for organizations that go above and beyond to provide an exceptional employee experience. The certification is achieved by distributing a third-party survey which has to be completed each year for re-certification. The survey is sent to employees in a geographic area to measure employees’ satisfaction with their employer. The data is used in combination with an internal audit of an organization’s culture reported in an extensive culture brief. Great Place to Work organizations, the global authority on workplace culture, employee experience, and leadership behaviors, are proven to deliver market-leading revenue, employee retention, and increased innovation.
“Great Place to Work Certification is not something that comes easily — it takes ongoing dedication to the employee experience,” said Sarah Lewis-Kulin, vice president of global recognition at Great Place to Work. “The certification is the only official recognition determined by employees’ real-time reports of their company culture. Earning this designation means that Rimini Street is one of the country’s best companies to work for.”
This year:
94% of US employees said, “I feel good about the ways we contribute to the community,” based on the Rimini Street Foundation’s extensive philanthropic work.
80% of the US Rimini Street employees said Rimini Street is a great place to work, compared to a 57% national average.
According to Great Place to Work research, job seekers are 4.5 times more likely to find a great boss at a Certified great workplace. Additionally, employees at certified workplaces are 93% more likely to look forward to coming to work, and are twice as likely to be paid fairly, earn a fair share of the company’s profits, and have a fair chance at promotion.
US, Australia and New Zealand certifications Confirm Rimini Street a Great Place to Work
Rimini Street has excelled beyond its global Great Place to Work certifications, earning additional awards, including “Great Place to Work for Women” in the UK and “Best Leaders in Times of Crisis” in India – a recognition of the Company’s extensive support of its employees during the COVID-19 pandemic.
Since its founding in 1992, Great Place to Work has used insights from the surveys of over 100 million employees to help shape global work culture by promoting trust, equity, and inclusion. By earning these accolades, Rimini Street joins a community of workplaces that exceed standards. Rimini Street uses the Great Place to Work insights to continually improve Rimini Street community experiences around the world.
“Rimini Street has now achieved global recognition as a great place to work. Our leaders are committed to creating a culture that promotes equal opportunity for all, and we are especially proud of our extraordinary colleagues around the world who fuel our culture of collaboration, inclusivity, and support,” said Seth Ravin, CEO and chairman of the board at Rimini Street.
What Makes Rimini Street a Great Employer
In 2005 Rimini Street set out on a mission to “redefine enterprise software support” and disrupted the software services industry. The company now leads the market with a global base of 4,800 clients served to date and a compound annual revenue growth rate of 19% over the past five years, as of June 30, 2022. The Company has set a goal is to reach $1 billion in annual revenue by 2026, which it can only achieve if its clients and employees believe in the Rimini Street difference.
To meet that objective, Rimini Street has numerous programs designed to foster continuous improvement across the board, including:
Establishing a “family” culture that encourages all employees to take care of each other, and, during the pandemic, helping clients achieve business continuity and offering special payment programs.
Providing financial aid, bespoke gifts, and personal contact by Rimini Street leaders to employees facing life’s challenges.
Celebrating successes through “Good Neighbors,” “People on the Move,” and “Golden Heart Spotlights” that highlight exceptional contributors.
Embracing global diversity with virtual parties.
Enabling a predominantly remote workforce so employees can balance career, family, and personal time.
Executing its mission to “Support Humankind,” which includes more than $1.25 million in charitable donations to 350+ organizations through the Rimini Street Foundation.
Actively promoting from within and providing equal access to learning and development programs and resources.
Promising and ensuring zero layoffs due to the pandemic and providing special bonuses to employees under certain salary thresholds to help with pandemic-related costs and special bonuses to employees who contracted COVID-19 so they could pay for tests and medicines not covered by Rimini Street’s robust insurance plans.
Hosting vaccination drives for 300 colleagues and their families in India and Japan.
Launching a RMNI Pride logo accompanying financial aid to a charitable organization that educates corporations on creating a welcoming environment for LGBTQI+ employees.
Making Rimini Street events more inclusive to all internal audiences for greater knowledge sharing and collaboration.
Great Place to Work® Certification™ is the most definitive “employer-of-choice” recognition that companies aspire to achieve. It is the only recognition based entirely on what employees report about their workplace experience – specifically, how consistently they experience a high-trust workplace. Great Place to Work Certification is recognized worldwide by employees and employers alike and is the global benchmark for identifying and recognizing outstanding employee experience. Every year, more than 10,000 companies across 60 countries apply to get Great Place to Work-Certified.
About Great Place to Work®
Great Place to Work® is the global authority on workplace culture. Since 1992, they have surveyed more than 100 million employees worldwide and used those deep insights to define what makes a great workplace: trust. Their employee survey platform empowers leaders with the feedback, real-time reporting and insights they need to make data-driven people decisions. Everything they do is driven by the mission to build a better world by helping every organization become a great place to work For All™.
Rimini Street, Inc. (Nasdaq: RMNI), a Russell 2000® Company, is a global provider of enterprise software products and services, the leading third-party support provider for Oracle and SAP software products and a Salesforce partner. The Company offers premium, ultra-responsive and integrated application management and support services that enable enterprise software licensees to save significant costs, free up resources for innovation and achieve better business outcomes. To date, over 4,800 Fortune 500, Fortune Global 100, midmarket, public sector and other organizations from a broad range of industries have relied on Rimini Street as their trusted application enterprise software products and services provider. To learn more, please visit http://www.riministreet.com, follow @riministreet on Twitter and find Rimini Street on Facebook and LinkedIn. (IR-RMNI)
Forward-Looking Statements
Certain statements included in this communication are not historical facts but are forward-looking statements for purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as “may,” “should,” “would,” “plan,” “intend,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “seem,” “seek,” “continue,” “future,” “will,” “expect,” “outlook” or other similar words, phrases or expressions. These forward-looking statements include, but are not limited to, statements regarding our expectations of future events, future opportunities, global expansion and other growth initiatives and our investments in such initiatives. These statements are based on various assumptions and on the current expectations of management and are not predictions of actual performance, nor are these statements of historical facts. These statements are subject to a number of risks and uncertainties regarding Rimini Street’s business, and actual results may differ materially. These risks and uncertainties include, but are not limited to, the amount and timing of repurchases, if any, under our stock repurchase program and our ability to enhance stockholder value through such program; the impact of our credit facility’s ongoing debt service obligations and financial and operational covenants on our business and related interest rate risk, including uncertainty from the discontinuance of LIBOR and transition to any other interest rate benchmarks; the duration of and economic, operational and financial impacts on our business of the COVID-19 pandemic, as well as the actions taken by governmental authorities, clients or others in response to the pandemic; changes in the business environment in which Rimini Street operates, including the impact of any recessionary economic trends, including inflation, rising interest rates and changes in foreign exchange rates, as well as general financial, economic, regulatory and political conditions affecting the industry in which Rimini Street operates and the industries in which our clients operate; the evolution of the enterprise software management and support landscape facing our clients and prospects and our ability to attract and retain clients and further penetrate our client base; catastrophic events that disrupt our business or that of our current and prospective clients, including terrorism and geopolitical actions specific to an international region; adverse developments in and costs associated with defending pending litigation or any new litigation; our need and ability to raise additional equity or debt financing on favorable terms and our ability to generate cash flows from operations to help fund increased investment in our growth initiatives; the sufficiency of our cash and cash equivalents to meet our liquidity requirements, including under our credit facility; our ability to maintain an effective system of internal control over financial reporting and our ability to remediate any identified material weaknesses in our internal controls; changes in laws and regulations, including changes in tax laws or unfavorable outcomes of tax positions we take, or a failure by us to establish adequate reserves for tax events; competitive product and pricing activity; challenges of managing growth profitably; customer adoption of our products and services, including our Application Management Services (AMS) offerings, in addition to other products and services we expect to introduce in the future; the loss of one or more members of Rimini Street’s management team; our ability to attract and retain qualified employees and key personnel; uncertainty as to the long-term value of Rimini Street’s equity securities; the effects of seasonal trends on our results of operations, including the contract renewal cycles for vendor supplied software support and managed services; our ability to prevent unauthorized access to our information technology systems and other cybersecurity threats, protect the confidential information of our employees and clients and comply with privacy and data protection regulations; and those discussed under the headings “Risk Factors” and “Cautionary Note About Forward-Looking Statements” in Rimini Street’s Quarterly Report on Form 10-Q filed on August 3, 2022, and as updated from time to time by Rimini Street’s future Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, and other filings by Rimini Street with the Securities and Exchange Commission. In addition, forward-looking statements provide Rimini Street’s expectations, plans or forecasts of future events and views as of the date of this communication. Rimini Street anticipates that subsequent events and developments will cause Rimini Street’s assessments to change. However, while Rimini Street may elect to update these forward-looking statements at some point in the future, Rimini Street specifically disclaims any obligation to do so, except as required by law. These forward-looking statements should not be relied upon as representing Rimini Street’s assessments as of any date subsequent to the date of this communication.
