CATEGORY

Employee Benefits

Employee benefit services including pension administration, health support, rewards and recognitions, pharmacy benefits, financial benefits are outsourced to HR consulting/outsourcing service providers to optimize cost and obtain technology related support to smoothen the employees experience within the organisation.

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Employee Benefits Industry Benchmarks


Savings Achieved

(in %)

The average annual savings achieved in Employee Benefits category is 11.46%

Payment Terms

(in days)

The industry average payment terms in Employee Benefits category for the current quarter is 50.8 days

Compare your category performance against peers and industry benchmarks across 20+ parameters on Beroe LiVE.Ai™

Category Strategy and Flexibility

Engagement Model

Supply Assurance

Sourcing Process

Supplier Type

Pricing Model

Contract Length

SLAs/KPIs

Lead Time

Supplier Diversity

Targeted Savings

Risk Mitigation

Financial Risk

Sanctions

AMEs

Geopolitical Risk

Cost Optimization

Price per Unit Competitiveness

Specification Leanness

Minimum Order Quality

Payment Terms

Inventory Control

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    Employee Benefits Suppliers


    Employee Benefits Supplier

    Find the right-fit employee benefits supplier for your specific business needs and filter by location, industry, category, revenue, certifications, and more on Beroe LiVE.Ai™.

    Sample Supplier
    Company
    Adecco Inc.
    Location
    Jackson, Mississipi
    Duns number
    3862211

    D&B SER Rating

    dnb logo

    Up to 3 months

    1 9
    2
    Low Risk High Risk

    The Supplier Evaluation Risk (SER) Rating is Dun & Bradstreet’s proprietary scoring system used to assess the probability that a business will seek relief from creditors or cease operations within the next 12 months. SER ratings range from 1 to 9, with 9 indicating the highest risk of failure. We’ve prepared an infographic to help business owners better understand what influences their SER Rating.

    Moody`s ESG Solution
    ESG Profile

    Company and Sector Performance
    51

    100
    Robust (1)
    ESG Perfomance (/100)
    Environment
    53
    Social
    45
    Governance
    58
    6 Domains Performance (/100)
    Business behaviour
    50
    Human rights
    55
    Community Environment
    50
    Corporate governance
    62
    Human resources
    36
    Security Scorecard
    85

    Threat indicators
    C
    76
    Network Security
    Detecting insecure network settings
    A
    100
    Hacker Chatter
    Monitoring hacker sites for chatter about your company
    A
    90
    DNS Health
    Detecting DNS insecure configuration and vulnerabilities
    D
    62
    Application Security
    Detecting common website application vulnerbilities
    A
    100
    Endpoint Security
    Detecting unprotected enpoints or entry points of user tools, such as desktops, laptops mobile devices, and virtual desktops
    A
    100
    Cubic Score
    Proprietary algorithms checking for implementation of common security best practices
    A
    96
    Patching Cadence
    Out of date company assets which may contain vulnerabilities of risk
    A
    100
    Social Engineering
    Measuring company awareness to a social engineering or phising attack
    A
    100
    IP Reputation
    Detecting suspecious activity, such as malware or spam, within your company network
    A
    100
    Information Leak
    Potentially confidential company information which may have been inadvertently leaked

    Industry Comparison
    adecco.com
    Industry average
    Adverse Media Appearances
    Environmental Issues
    0
    Workforce Health Safety Issues
    0
    Product Service Issues
    4
    Human Rights Issues
    0
    Production Supply Chain Issues
    0
    Environmental Non Compliance Flags
    4
    Corruption Issues
    0
    Regulatory Non Compliance Flags
    3
    Fraud Issues
    0
    Labor Health Safety Flags
    10
    Regulatory Issues
    3
    Workforce Disputes
    2
    Sanctions
    0
    esg energy transition
    58
    Discrimination Workforce Rights Issues
    8
    esg controversies critical severity
    No

    Employee Benefits market report transcript


    Employee Benefits Management Global Industry Outlook

    The global benefits management market is valued at $32 billion in 2016.

    • The market is forecasted to grow at a CAGR of 5–6 percent and reach $36 billion in 2018.
    • Regions such as Europe and North America and parts of APAC such as Australia, Japan, Hong Kong and Singapore have high market maturity.
    • South Africa, India, Brazil and China are expected to be the future growth driving markets for benefits management services.
    • KPIs for employee benefits management include the accuracy of processing payments, HR data timelines and third-party interface timelines.
    • The major cost components in the employee benefits market include: Administrative costs: 35 percent, Outsourcing costs: 10 percent, Technology:10
      percent, Compliance & Documentation:15 percent.
    • Employee Benefits Spend Categories can be divided into:
      (i) Mandated Benefits (Social Security Insurance, Workers Compensation, Unemployment Insurance)
      (ii)Sponsored Benefits (insurance, benefits, retirement benefits, medical assistance benefits and expatriate benefits)
    • The global contract operates on a PEPM pricing model, while the spend volume portion of the contract operates on a commission based or a combination of
      hybrid pricing models. These are the methods widely prevalent in the industry. Emerging countries in the Asia Pacific and Latin America outsource tactical
      activities such as claims administration, reimbursement, call centre support, and data entry through local engagement for a contract duration of 1–2 years.
    • Major growth drivers in the North American BAO market include the introduction of the Healthcare Reform Act by the Obama Administration and the rising cost of drugs. Others include web-based decision-making analytics tools and the emergence of healthcare exchange offered by mature BAO providers

    employee-benefits-management-global-market-size

     Employee Benefits Management Global Market Maturity

    Global benefits service providers are focusing on entering emerging markets such as APAC and Eastern Europe by partnering with regional and local service providers

    • As an initiative to consolidate spend on employee benefits, Fortune 500 companies are entering into multi-country BAO engagements with global service providers

    Employee Benefits Management Industry Trends

    • The global BAO market has increased by 5 percent since 2014; this has been realized due to the scalability of the suppliers who have been able to adapt to the changing business needs.
    • The European and North American BAO market accounted for about 60 percent of the global market share in 2016. The U.S., UK, Germany and Australia are the most mature countries, in terms of single-country BAO deals.

    Why You Should Buy This Report

    Global Benefits Management Market drivers and constraints and regional market outlook in areas like North America, Europe, Middle East and Africa. The report lists out the opportunities and challenges in each of these regions. The benefits of market research include a report on the Porter’s five force analysis of developed and emerging markets. The report gives insights into supply trends and does a SWOT analysis of major players like Aon Hewitt, MetLife Inc., Aetna Inc., Fidelity Investments, etc. It gives a cost and pricing analysis and a pricing forecast.