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Products & Services

Benchmarking Resources and Complexity of the Benefits Functional Area

ID: PHR-210


Features:

2 Info Graphics

72 Data Graphics

76 Metrics

1 Best Practices


Pages: 93


Published: Pre-2013


Delivery Format: Shipped


 

License Options:

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Single User: Authorizes use by the person who places the order or for whom the order was placed.

Sitewide: Authorizes use of the report for a geographic site. All people at site can view the report for a year and copies can be printed.

Corporate: Authorizes use for the entire company for a year and copies can be printed. No limitations for usage inside the company.

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919-403-0251

  • STUDY OVERVIEW
  • BENCHMARK CLASS
  • STUDY SNAPSHOT
  • KEY FINDINGS
  • VIEW TOC AND LIST OF EXHIBITS
Human Resource Departments have the difficult task of providing quality employee benefits while keeping costs low. The structure and complexity of savings, pension, stock options and health & welfare administration are areas that can help keep costs low.


In this study Best Practices, LLC benchmarks the Resources and Complexity of Benefits Functional Areas at 20 leading firms. The study benchmarks effective organizational structure and complexity, operation and delivery, vendor management, compliance and customer service for savings, pension, stock options, and health & welfare administration, using metrics that provide valuable information for executive to improve the efficiency of their programs.

This 93 slide presentation helps provide insight into designing cost-effective savings, pension, stock options and health & welfare administration programs. The study includes metrics for internal versus external vendor stage ownership, number of participants per FTE, cost per participant, plan provisions, participation levels and customer service efficiency.


Industries Profiled:
Aerospace; Banking; Manufacturing; High Tech; Consumer Products; Automobile; Utilities; Energy; Health Care; Defense; Chemical; Financial Services; Telecommunications; Pharmaceutical


Companies Profiled:
Boeing; Bombardier Aerospace; Cisco Systems; Coca-Cola; DaimlerChrysler; DTE Energy; Exelon Corp; Ingersoll-Rand; KimberlyClark; Lockheed Martin; Northrop Grumman; PPG Industries; Raytheon; SBC Communications; Solvay America; Telephone & Data Systems; Timken; Tyco; U.S. Steel


Study Snapshot

This study provides key benchmarks for world-class companies for the administration of savings, pensions, stock options and health & welfare. Some metrics included are:
  • Internal versus vendor stage ownership
  • Employee Participants per Internal and Vendor FTE
  • Cost per Active, Inactive, and Retired Employee Participant
  • Number and complexity of plans
  • Percent of employees participating in each plan
  • Number of escalated customer service cases
  • Percent of companies offering provisions in plans

Human Resource Executives will find this study valuable for :
  • Determining their company's strengths and areas for improvement relative to other high-performing companies
  • Finding opportunities for outsourcing certain aspects of savings, pension,stock options and health & welfare administration

Key Findings

Some of the key findings of this study include:
  • Companies that minimize number and complexity of their benefits processes consistently achieve lower costs and higher staff efficiency ratios
  • Outsourcing is a key strategy for benefits administration of savings, pension and health & welfare
  • Lower costs are possible by focusing internal resources on vendor management rather than on administration
Table of Contents

Introduction
Key Findings and Insights
About the Benchmark Class
Savings Administration Analysis
Pension Administration Analysis
Stock Option Administration Analysis
Health & Welfare Administration Analysis
Next Steps

List of Charts & Exhibits

Study Overview
Key Findings and Insights
Key Metrics
Participating Companies
Participant Profile: Industry
Company Size
Respondent Perspective
Participant Profile: Complexity
Employees: Union Levels
Union Contract Changes
Union Bargaining Units
M&A Activity
Number of Vendors
Benefit Data Ownership
Data Integrity Ownership
Savings: Participant Composition
Savings Administration Stage Ownership
Savings Administration Staff Ratio
Budget: Total Cost per Participant
System Complexity
Auditing and Correcting Data
Escalated Customer Service Cases
Multiple Participation in Savings Plan
Number and Complexity of Plans
Provisions in Plans
In-service Withdrawals
Termination Distribution Options
QDRO Administration
Savings Plan Loans
Number of Savings Plans
Plan Conversions
Stock Option Administration Stage Ownership
Stock Option Administration Staff Ratio
System Complexity
Staff Time Devoted to Auditing Tax Data
Staff Time Devoted to Answering Employee Inquiries
Grants Issued
Stock Options: Participant Composition
Former Employee Participants
Types of Stock-Based Compensation
Stock Options Granting Period
Stock Options for Non-US Individuals
Pension: Participant Composition
Pension Administration Stage Ownership
Internal Staff Tasks and Time
Pension Administration Staff Ratio
Pensions Budget: Total Cost per Participant
Support Systems
Escalated Customer Service Cases
Pension Plans Administered
Types of Pension Formulas Offered
Retiree Payroll
Pension Retirement and Death Processing
Pension Claims, Appeals and QDRO Processing
Participant Involvement
Health & Welfare: Participant Composition
H&W Administration Stage Ownership
H&W Administration Staff Ratio
Budget: Total Cost per Participant
Support Systems
Vendor Quality Checks
Customer Service Escalations
Preempting Appeals with Effective Customer Service
Medical Insurance: Providers and Participants
Life Insurance: Providers and Participants
Flexible Spending Accounts: Eligibility
COBRA Insurance: Eligibility
EAP: Eligibility
Disability: Eligibility
Tasks and Time to Complete
Staff Resources for Implementation Support
Staff Resources for Managing Customer Service
Staff Resources for Providing Subject Matter Expertise
Staff Resources for Managing Carrier Relations
Staff Resources for Managing Appeals