Fidelity, Hartford Group, HRO
Fidelity Wins Comprehensive HRO Contract from Hartford Group
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Fidelity Investments, a group of privately held companies in the financial services industry, has won a seven-year comprehensive human resource outsourcing (HRO) contract from The Hartford Financial Services Group, a US-based financial service and insurance company. The financial terms of the contract were not disclosed.
Fidelity has already been administering various benefit programs including 401(k), pension, health and welfare, and stock plan of Hartford for its 45,000 employees and retirees. In addition to these services, the company will provide benefits reporting, and data and carrier assistance to the group.
Under the terms of the new contract, Fidelity will administer the HR operations, payroll, workforce, and talent management functions of Hartford. The company using its Total HR AdvantageSM portfolio of services will provide full support for Hartford’s critical HR functions spanning from recruitment to retirement. The Hartford's HR programs are likely to be migrated to Fidelity's servicing platform by 1Q 2008.
Fidelity will utilize its technology and provide support for the entire talent management cycle, such as staffing, performance, talent planning, and compensation management. The company will provide a variety of workforce administration services including payroll administration services, and technology for time and attendance and HR administration. It will also provide call center services to Hartford.
Source: Globalsourcingnow
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