Benefits outsourcing is an important component of many human resources programs and understanding the process for it is an important skill for the total rewards professional. This course dives into the details around outsourcing HR services and covers the steps for selecting, contracting and managing benefits service partners within the total rewards environment. The course is interactive and provides you with an opportunity to discuss common issues that arise when considering benefits partners.
Key topics covered include:
- Understanding the different types of outsourcing.
- Service partner selection, including examining the needs and situations that drive the selection and evaluation processes.
- How to work with consultants, brokers and service partners to design a benefits plan.
- The steps involved in negotiating and finalizing a contract.
- Tips for terminating and re-bidding when ending a service partner relationship.
This course is designed for middle to senior-level HR and benefits professionals who have responsibility for selecting, contracting and managing benefits partners and consulting relationships.
Specific areas covered include:
- Deciding to Outsource
Learn the basics of benefits outsourcing and the steps involved in building the business case to outsource.
- Selecting Benefits Service Partners
Acquire skills in identifying benefits service providers; requesting information and proposals from them; evaluating their proposals; and making, documenting and presenting the final selection decision.
- Plan Design Process
Understand the plan design process, including key issues when evaluating benefits plans, plan design and administration costs, design components and actuarial assumptions and presenting key findings.
- Negotiating and Finalizing the Contract
Learn about the letter of intent, the negotiation process, basic areas of the contract, appropriate performance measures and the final contract review process.
- Implementation and Transition to a New Service Provider
Gain experience planning the transition, selecting the implementation team, navigating logistical issues, communicating about the transition and managing the relationship as well as the role of HR within the transition process.
- Managing Service Provider Relationships
Learn about ensuring an effective partnership, monitoring for accountability, auditing the program, leveraging the relationship and managing changes to the team.
- Completion of the Contract Term
Gain skills in terminating a contract, including common considerations, basic options upon contract completion, rebidding, alternatives for streamlining the rebidding process and strategies for a smooth transition.
Upon completing this course, you will have acquired critical skills in the area of HR benefits outsourcing from start to finish.
Ready to take your human resources outsourcing knowledge to the next level?
This course is available in a variety of formats, including online and in-person.
Find a class format that works for you and register today.