The Dawn of a New Era in HRO
The Dawn of a New Era in HRO: Redefining the HR Outsourcing Provider Role & Relationship
In the world of HR outsourcing, success has always been driven by the quality of the enduring relationship between the client and the provider. In the new era, engaging the individual and enabling employees and employers to act with confidence sets a new definition of success.
Fortunately for companies, employees, and service providers alike, a new era of HR outsourcing relationships is dawning. In today's uncertain business climate a perfect storm is developing: the dramatic change in worker needs and expectations driven by increased individual responsibility and the emerging Gen Y workforce, the unending escalation of employer HR cost pressures and the increasing demand to simplify HR-related activities for line managers.
These megatrends mandate that companies seek a business partner that can deliver well beyond traditional outsourcing value propositions of cost reduction and technology management. Employers of all sizes and complexities understand they need to establish strong business relationships with service providers that both serve the varying HR and benefits needs of the individual employee as well as to empower managers to make the right workforce decisions that can drive organizational success.
Fidelity is redefining the role and relationship of the HRO provider, enabling employers to Focus on the Individual and Act with Confidence. This fundamental change in philosophy means:
- Changing the delivery model to recognize and appreciate that individuals have unique needs to service - not merely transacted upon.
- Supporting employees as individuals, with specific characteristics, personal needs and career goals.
- Empowering employees and managers with Actionable Analytics to support fact-based and speedier decision-making.
- Instilling confidence that critical workforce decisions are made with quality across the enterprise regardless of geography by providing managers the necessary tools and supporting information to act effectively.
To attract and retain talent in an increasingly competitive marketplace and in a world where a greater burden of responsibility is placed upon individuals, companies must rethink how to increase engagement with their employees. With the individual at the center of the equation, a more personalized experience is required to heighten engagement, providing guidance to employees in areas that they are likely not experts in: career planning, health care decisions, planning and saving, retirement planning and individual skills development.
To do this correctly, a new level of service competency must be introduced to the HR service delivery equation - and the providers who are skilled at best serving the individual needs of their clients' individual employees will be the most successful in this next chapter of the emerging HRO story.
At this point, you likely have a number of questions. Are there really "megatrends" redefining the workforce as we know it? Does this truly translate to a need to change the way employers engage with their workforces? And, does this actually mean there is a serious need to redefine the role and relationship of the HRO providers? Our observations and insights all lead to a simple answer to all three of these complex questions: Yes. Let's briefly explore.
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