Selecting a service provider, technology platform or operating model can be risky business — not just the first time, but also when it’s time to renew a contract. Let our knowledge be your power.
Our teammates at herronpalmer love gathering and analyzing market data, and our insights and intelligence translate into valuable leverage and the confidence that you’ll grow even stronger through your chosen arrangement.
Our benchmarking services will help bolster your search, business case or negotiations with:
- Extensive market data on implementation costs, ongoing fees, scope of services, performance standards and contract terms
- A one-of-a-kind database that tracks the number and type of RFPs each major provider has received and won during the past few years, plus many other useful data points
- A comprehensive inventory of the providers each Fortune 1000 company uses for benefit administration services
- Valuable intelligence about peer organizations and the programs, services, technologies, metrics and methods they are using to serve employees
Based on our deep, broad and up-to-the-minute awareness of the market, we’ll see to it that your contract is competitive—considering fees, terms, scope, and performance standards—and consistent with those of companies with similar services, scale, scope and complexity. We’ll also offer ideas to improve the quality and overall performance of the relationship.