LifeWorks Inc, earlier Morneau Shepell Inc, operates as a human resources company and provides consulting, outsourcing and technology solutions.
On 14th May 2021, Morneau Shepell rebranded itself as LifeWorks Inc. Following this, the ticker symbol on the Toronto Stock Exchange (TSX) was changed from ‘MSI’ to ‘LWRK’.
The company provides employers assistance services, financial management, retirement, administrative, health and productivity solutions, employee assistance programs, consulting services for pension, benefits, and investment services.
It claims to manage 100 benefit plans for approximately seven million members and about two million adopting absence management programs.
LifeWorks Inc provides various services through different segments such as communication and change management, health & productivity, LifeWorks Wellbeing, administrative solutions and risk management across Canada and the United States.
The firm operates through various subsidiaries, including:
• Morneau Shepell (Bahamas) Ltd
• LifeWorks Canada Ltd
• Chestnut Global Partners, LLC
• LifeWorks US Inc
The company was established as W. F. Morneau & Associates in 1966 and opened its first office in the United States in 1987. In next decade, the tech company launched administrative outsourcing practices and formed a strategic alliance with Coopers & Lybrand.
In 2005, the firm was converted to an income trust under the name Morneau Sobeco Income Fund (MSIF).
It acquired Shepell.fgi in May 2008.
As part of reorganization in 2011, the company was rebranded from an income trust to corporation under the new name Morneau Shepell Inc.
Morneau Shepell went on to acquire several businesses in the following years, including:
• Pacific Risk Management Corp
• Dion Durrell’s workers’ compensation business
• SBC Systems
• Blue Balloon Health Services
• Collage Pediatric Therapy
• Groupe AST from ADP Canada
• Bensinger, DuPont & Associates
It claims to provide support services centered around client’s mental, social, physical and integrated wellbeing. The company provides absence and disability management solutions under the brand Abiliti®.
The Canadian company claims to maintain 300 administration websites for clients and operates nine technology and outsourcing centers located in Toronto, Georgia, Vancouver, Hartford, Montreal, Vernon Hills and Atlanta.
In addition, the company provides technology-based mental health solutions through its AbilitiCBT.
LifeWorks claims to help clients in reducing cost and improving competitive position in the market and increasing employee productivity. The company claims to serve over 24,000 organizations worldwide.