News & Events
TJX Taps HighRoads for Employee Benefit Plan
Compliance Technology-Based Approach Will Reduce Time and Cost To Create, Update and Manage SPDs Across Dozens of Plans
BOSTON (Sept. 5, 2006) — HighRoads Inc., the leading provider of benefits lifecycle management (BLM) solutions, today announced that The TJX Companies, Inc. (NYSE:TJX) will tap HighRoads' technology and services to streamline one of the most unwieldy processes in Human Resources: creating, updating and managing Summary Plan Descriptions (SPDs) required for employee communication and regulation compliance.
TJX, the world's largest off-price apparel and home goods retailer, will streamline and standardize what was once a labor intensive, paper-based process that took months. Now with HighRoads, TJX's benefits team will be able to review and update SPDs in weeks – even as health and welfare plan provisions constantly change – to support open enrollment and compliance requirements.
The retail giant becomes the most recent Fortune 500 company to tap HighRoads to drive unprecedented levels of visibility and efficiency in plan management, while delivering high quality benefits programs to more than 110,000 full-time, part-time and union employees.
“HR departments are being charged to drive value to the organization, but the heavy administrative burden can often get in the way,” said Michael Byers, COO of HighRoads. “We're giving progressive employers, like TJX, a sustainable process for driving efficiencies and cost-savings on requisite administration – while freeing HR teams for strategic initiatives like optimizing plan designs to motivate competitive workforces.”
Traditionally, the SPD process for TJX was a resource-consuming process, monopolizing staff time and relying heavily on paper-based workflows. HighRoads' SPD Manager, delivered as a business process outsourcing (BPO) service, will automate the creation and maintenance of documents across the gamut of plans offered to TJX's employees. It facilitates collaboration while providing version control, and links common language or sections so that changes can be made once and implemented across multiple plans – dramatically reducing the time, expense and potential for human error associated with annual SPD updates. HighRoads' full suite of collaborative BLM solutions provide unprecedented levels of visibility to information across multiple plans, processes and transactions to support informed decision-making and uncover opportunities for streamlined management. This insight enables employers, consultants and brokers to provide the highest quality employee benefits at substantially lower costs.
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