herronpalmer's clients are responsible for a wide variety of HR and employee benefit programs. We help them seek and facilitate relationships with third parties who deliver:
- Absence management services
- Actuarial services
- Defined benefit plan administration
- Defined contribution plan administration
- Health & welfare plan administration
- Investment consulting services
- Long-term incentive administration
- Non-qualified deferred compensation administration
- Trust & custody services
- Private Exchanges – active and retiree
herronpalmer serves as trusted advisor to sponsors of HR & employee benefit programs.
We guide clients to clarity through the complex decisions, negotiations and other business challenges associated with sourcing HR and employee benefit program administration.
Clients engage our services when they need to:
- Establish a business case for a sourcing solution, whether insourcing, outsourcing or cosourcing
- Launch and manage an RFP or RFQ process
- Benchmark administration fees, contract terms and/or performance standards
- Negotiate a renewal with an existing provider
- Negotiate contract terms with a new benefits administration provider
- Establish a new or reinvigorate an existing governance structure
- Identify areas for improvement in your current sourcing relationship via a service review
- Support in-house staff in managing implementation of a new sourcing solution
- Find the private exchange that meets your needs through our exchange marketplace consulting services
herronpalmer delivers a distinctive balance of reality and creativity.
herronpalmer's advice is informed by real-world data and experience. We collect, analyze and publish data on virtually every aspect of the benefits administration business—a business where we've been driving successful outcomes for decades. Based on our experience with many of the world's largest employers, a wide range of services and all of the leading providers, we've developed trusted approaches that enable plan sponsors to avert or overcome difficulties and achieve successful results.
At the same time, herronpalmer does not believe in cookie cutter solutions. Through open and honest collaboration with clients, providers and other colleagues, we discover what is unique in each situation. Then we offer thoughtful, creative guidance that respects those unique needs.
Contact herronpalmer to learn more about how we can point you in the right direction.