Engaged Workforce

Agile and social models are changing performance management, rewards, coaching, goal-setting and development. How you engage with your workforce will directly correlate with how to maximize the productivity of employees whilst giving the best possible opportunities for development.

NY HR Week 2005 Trumps Expectations – Up 32% to 3710 Registered Attendees

HR Executives In Record Numbers Attend HR Conference —

Top Issues Include Outsourcing, Diversity, Benefits & Technology

Milford, CT,April 20, 2005 NY HR Weeks conference directors today released recordattendee totals for the 2005 NY HR Week held April 12-14, 2005 at the New YorkHilton, making it the nations second largest HR event. Registered attendeestotaled 3,710, with conference attendees numbering 706.  The totals represented a 32% increase overthe 2004 totals, and included a record 106 media attendees.

Continue reading →

PwC: Almost All Fast-Growth Companies Outsourcing HR Functions

< ?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />

PricewaterhouseCoopers Trendsetter Barometer interviewed CEOs of 360 privately held product and service companies identified in the media as being among the fastest growing < ?xml:namespace prefix = st1 ns = "urn:schemas-microsoft-com:office:smarttags" />U

Continue reading →

PDS Signs Three New Contracts

PDS Signs Three New Contracts: FCStone Group, Sifton Properties and Tendercare to Implement PDS < ?xml:namespace prefix = st1 ns = "urn:schemas-microsoft-com:office:smarttags" />Vista HR, Payroll and Benefits Solution< ?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />

Blue Bell, Pa

Continue reading →

Hewitt Associates to Provide HR BPO Services to PepsiCo

Firm Continues Growth of HR BPO Business, Signing Eighth Deal Since Close of Hewitt and Exult Merger

LINCOLNSHIRE, Ill. — Hewitt Associates (NYSE: HEW), a global human resources services firm, announced today that it will provide comprehensive HR business process outsourcing (BPO) services to PepsiCo (NYSE: PEP), a world leader in convenient foods and beverages. Financial terms of the deal were not disclosed.

Under a ten-year agreement, Hewitt will provide HR BPO services in the U

Continue reading →

ARINSO International wins HR BPO contract with a global leader in the specialty pharmaceutical and medication delivery industry.

ARINSO International (Euronext Brussels:ARIN), a leading provider of HR technology consulting and outsourcing, announced the successful go-live of an HR BPO contract with a global leader in the specialty pharmaceutical and medication delivery industry. Under this contract, ARINSO People Services provides comprehensive HR services for all US employees. ARINSO provided Benefit Administration Open Enrollment services to the client in October 2005, and commenced the full contracted HRO services in January 2005

Continue reading →

ARINSO International adds new US HR Outsourcing contract

ARINSO International (Euronext Brussels:ARIN), a leading provider of HR technology consulting and outsourcing, announced the successful go-live of an HR BPO contract with a global leader in the specialty pharmaceutical and medication delivery industry. Under this contract, ARINSO People Services provides comprehensive HR services for all US employees. ARINSO provided Benefit Administration Open Enrollment services to the client in October 2005, and commenced the full contracted HRO services in January 2005

Continue reading →

Switzerland Inn Picks The Castleton Group for HRO

< ?xml:namespace prefix = st1 ns = "urn:schemas-microsoft-com:office:smarttags" />Asheville, NC Jim Stilgenbauer, Vice-President of Client Services at The Castleton Groups Asheville office, has announced that the firm has been chosen to provide comprehensive human resource outsourcing services for Switzerland Inn, located in Little Switzerland, North Carolina

Continue reading →

Case Study: Lifestyles of the Rich and Outsourced

Multi-million dollar Anderson Companies still likes to save money through HRO.

by Marsha Kendall

 

The Anderson Companies are a real estate development operation focusing on recreational and residential communities. Founder Lyle Anderson defined this market in the early 1980s with the creation of exclusive golf communities in north < ?xml:namespace prefix = st1 ns = "urn:schemas-microsoft-com:office:smarttags" />Scottsdale, Arizona. Current properties are located in Santa Fe, New Mexico; on Hawaiis Kona coast; east of Phoenix, Arizona; and Scotland. With a variety of business interests in luxury homebuilding, golf-related enterprises, and investment properties, the HR department had to juggle numerous employees in different regions and with different needs. It made Anderson the perfect candidate for outsourcing. < ?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />

 

Our employees serve a very sophisticated clientele, explained Bill Siwek, executive vice president and chief financial officer for the Anderson Companies. In choosing an HR provider it was critical that we partner with an organization that understands our business as well as treats our employees the way we expect them to treat our members.

 

Andersons initial needs were the consolidation and standardization of accounting and payroll functions. However, after re-evaluation, the opportunity for full service human resources and payroll outsourcing was present. In late 2002, Anderson partnered with Core3, Inc., a provider that specializes in human resources, payroll, finance and accounting, and information technology outsourcing for the mid market, with shared service centers located in Phoenix, Arizona and Delhi, India. The company chose Core3 because it provided every level of service from field support for the Anderson Companies employees and management to strategy, recruiting, training, and transaction processing, as well as access to a Phoenix-based shared service center.

 

This is a unique delivery model in that the client wanted to maintain employee visibility to HR on a daily basis, while improving the quality of the function and reducing costs. The provider has on-site staff who are committed to employee and management support, while all strategy, development, and the majority of transaction processing are handled on a centralized basis at the providers shared service center.

 

The first-year results were impressive. Employee satisfaction with HR grew from 74 percent at the start of the relationship to 92 percent by the years end. Accuracy in benefit administration rose from 64 percent to 100 percent in the same time frame, and payroll accuracy has consistently exceeded 99 percent each month.

 

Special projects during the first year included the introduction of a standardized HR Policy Manual, new employee handbooks in both English and Spanish, new hire orientation, customized trainings, and the standardization of job titles and job descriptions, thus reducing titles by more than 20 percent. In addition, through a combination of field and support staff, the service provider was able to successfully partner with two Anderson Companies properties and increase staffing by more than 30 percent to handle the seasonality in the business. Equally important, the outsourcing relationship contributed to the reduction of HR/payroll costs by more than 20 percent, and impacted other related costs, such as a 40 percent reduction in legal fees and tighter controls for severance and relocation packages.

 

These accomplishments were driven by the providers combination of HR expertise, experience with global models, and comprehensive set of delivery tools. Core3s familiarity with global delivery allowed it to take the model a step further and understand the challenges and opportunities surrounding the support and management of thier own employees placed at client sites. Daily calls, weekly phone conferences, and regular site visits, are some of the tools they have has utilized to create a sense of team with its HR staff assigned to this relationship. In addition, through tools such as CoreSupport, the HRO companys new issue identification, management and resolution tool, Core3 has up-to-the-minute access to employee issues and concerns. This information allows them to ensure a timely and consistent response at the property level, report to client executives on the specifics surrounding a particular employee issue, plus identify trends for proactive workforce management.

 

Core3 has enabled the Anderson Companies to focus on our core competencies related to real estate development by addressing all our employee related issues. They truly understand our business and continue to deliver innovative solutions to support our success, concluded Siwek.   

Continue reading →

Solaris Health System Selects Egan, Amato & O’Connor as New Employee Benefits Consultant

< ?xml:namespace prefix = st1 ns = "urn:schemas-microsoft-com:office:smarttags" />MANASQUAN, N.J., April 1 /PRNewswire/ — “We are pleased to announce the selection of Egan, Amato & O’Connor as our new employee benefits consulting partner,” says Shirley Higgins Bowers, Vice President of Human Resources for Solaris Health System

Continue reading →

Cruise Control for 401(k) Plan Participants

Running on auto pilot is okay, as long as plan administrators keep their hands on the wheel.

by Larry Heller

Although much has been written about the controls put in place by 401(k) plan sponsors to protect day traders from themselves, participants at the opposite end of the spectrum are often overlooked. Lets call them the auto pilotsthe participants who arent paying much attention to their 401(k) plan. Todays technology and typical plan design have made it very easy for the hands-off participant to remain that way, even in a generous, well-advertised retirement program. < ?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />

 

Without necessarily understanding the plan or tax rules in any detail, the auto pilots know it is a good thing to contribute some of their pay. So they joined the plan, perhaps with contribution amounts and investments dictated by automatic enrollment. They have been contributing via automatic payroll deduction. Perhaps this plan also offers automatic contribution increases, whereby contribution percentages (of pay) automatically increase upon pay increase, and automatic rebalancing, which saves the participant the effort of reacting to an account that, for example, has skewed far from the investment split that the participant (or the automatic enrollment) originally intended.

 

In this hypothetical (but very possible) scenario, the participant who once chose or defaulted into a healthy contribution level might now be a mere spectator while the plan applies the IRSs annual contribution limitsstopping their pre-tax contributions at this years $14,000 limit, perhaps with an automatic restart of contributions in the first pay period of 2006.

 

On a more sophisticated level, perhaps the participant chose managed accounts, where the participant delegates responsibility to a financial entity authorized by the plan sponsor to make all of that accounts ongoing investment decisions. If so, that step of allowing their account to be managed for them might be one of the only active steps they ever take during their participation in their plan. Perhaps the plan also offers an employee stock ownership feature, offering automatic dividend reinvestment or cashout, with a likely default to reinvestment.

 

Its all automatic, and its all under control by the plans recordkeeper. But the auto pilots need several defense mechanisms to be in place on their behalf. At the very least, the plans overseers are obligated to communicate the plans default rules and their implications, and carry the fiduciary responsibility to monitor investment performance. Yet plan sponsors usually delegate to plan administrators much of the responsibility for helping those who have chosen not to help themselves. Lets look at these lines of defense:

 

Communications

By law, all plan participants are notified if their plan employs any of the automatics mentioned above and, if so, its default contribution rate and investment approach. Printed account statements confirm the status of the account, and Summary Plan Descriptions lay out the participants alternatives, deadlines for changes, and implications of inaction. But is the plan administrator monitoring the level of default elections taking effect, or how or how often participants override them? Are their communications personalized and targeted enough to catch the eye of the auto pilots who just let their 401(k) ride until their retirement, despite what it might be costing them?

 

Investment Selection

During the past decade, lifecycle and lifestyle fundspresetting an investment mix appropriate to the assumed age or investment time horizon of the investorhave solidified their place in the offerings of 401(k) plans. These funds help investors follow proven long-term investment strategies and diversification without requiring them to make ongoing, explicit reallocation decisions. Again, are all of these default options made clear to a generally unsophisticated and often uninvolved audience?

 

Fiduciary Responsibility

The recent growing trend towards offering the managed accounts described above expands the plans fiduciary exposure. All along, the retirement or pension committee overseeing the plan has had the responsibility of offering its participants a prudent array of investment options. The fate of the auto pilot is especially in their hands. Ironically, for the recently terminated employee who never contributed much to the plan, their final action could be just as automatican involuntary rollover of their vested account balance (if it has not exceeded $1,000) to an IRA preselected by the company they just left. Defaulters should beware. It is always a good idea to remind them to drive with their eyes open.   

Continue reading →