A global textile company with 3,000 employees wanted to evaluate the cost and benefits of outsourcing or cosourcing a number of human resources activities compared to its current practices. Findley was engaged to provide expert guidance, a cost-benefit framework, and tools to help the client assemble a business case focused on benefits outsourcing and human resources technology.
Findley partnered with the organization to assist them in developing a five-year cost-benefit analysis that evaluated perspective outsourcing and cosourcing solutions. Findley engagement also included comparing figures to current practices from three performance measures: cost, efficiency, and integration.
This project included conducting a focused needs analysis to determine what human resources activities should be included in the analysis. In addition, Findley collected raw data focusing on transactions, conducted interviews of benefits staff, customized the Findley human resources technology cost-benefit analysis toolset, and developed and distributed a final cost-benefit analysis report to the company.
Findley assisted the client in forecasting the financial impacts and business consequences of outsourcing or cosourcing versus current practices for the following activities:
- Open enrollment
- Ongoing enrollment
- Life events processing
- Benefit eligibility processing
- Benefit inquiries
- Carrier reporting
- COBRA/HIPPA administration
- Employment verification
The cost-benefit analysis became an integral tool for this organization in all future planning and decision making by the client’s human resources and benefits staff.
Benchmarking and cost-benefit analysis demonstrate how outsourcing or cosourcing of human resources activities may enhance financial performance.Findley Proof