News & Events
HighRoads HR Survey: Effectively Managing Supplier Performance Remains Top-of-Mind Challenge
F500 Employers Exchange Strategies and Best-Practices at HighRoads' Second Customer Summit
BOSTON (Nov 27, 2006) - A new HighRoads survey of leading employers indicates the ability to effectively measure supplier performance is the top-most challenge in employee benefits management, as traditionally paper-based workflows hinder evaluations and potentially leave tens of thousands of dollars in cost concessions unclaimed. To address this challenge, benefits managers cite two key priorities for 2007: improving visibility into benefit plan data and instilling systems to consistently assess supplier performance.
These findings are based on responses from 83 percent of attendees of HighRoads' Customer Summit, held November 6-7 in Tysons Corner, Virginia. They reflect cutting-edge trends and strategies being rolled out at the largest employers in the country.
"Our customer base includes many of the most innovative minds in the business, and is driving the human resources transformation from an administrative function into a strategic driver of value within an organization," said Michael Byers, president and COO of HighRoads. "Their priorities and strategies are setting the bar for the industry."
In most organizations, benefits professionals lack the time and resources needed to fully ensure suppliers' plan performance consistently meets desired levels, determine whether penalties should apply, or identify opportunities for increasing relationship value or re-negotiating costs and discounts.
HighRoads' ability to automate the supplier performance management process puts critical information in the hands of HR teams, making it easy to identify performance trends, create audit reports, and ensure high quality standards are met.
HighRoads' full suite of Benefits Lifecycle Management solutions is a key catalyst in employers' strategies to efficiently manage benefit plan information through every phase, while minimizing the administrative burden to select plans and providers, communicate plan details with employees, and manage supplier performance.
The second HighRoads Customer Summit scored high marks from attendees for fostering strong dialogue between HR professionals from Fortune 500 organizations including Kraft, Pitney Bowes, and General Dynamics. These companies join other blue-chip customers in successfully reducing the time, cost and complexity of benefits administration and management.
ABOUT HIGHROADS
HighRoads, Inc. (www.HighRoads.com) is the only company offering a system of record for managing HR program and supplier information to improve the employee experience while dramatically reducing costs for large, complex organizations. HighRoads has automated HR processes for more than 100 Fortune 500 employers along with 700 of their suppliers, consultants and outsourced administrators in 75 countries. Clients include some of the world's largest companies, such as General Dynamics, Honeywell, IBM, Kraft, Staples and Toyota. Founded in 1999, HighRoads is a privately-held company headquartered in Woburn, Mass.
HighRoads Company Contact:
Lori Dustin
(781) 503-4030
ldustin@highroads.com
HighRoads Media Contact:
Michael McDonough
(617) 969-9192
mmcdonough@corporateink.com