Learning Options

Benefits Outsourcing — Selecting, Contracting and Managing Service Partners
Certification Course: B12

Take the Guesswork Out of Outsourcing

This intermediate-level course covers the steps for selecting, contracting and managing primarily benefits service partners, with application to other areas of HR and total rewards. Participants will have an opportunity to discuss issues that arise when deciding whether outsourcing a particular function is appropriate for the organization. In addition, the course addresses which type of service partner a company may need, what performance expectations are appropriate and how to know if a service partner’s resources and expertise are appropriate for the organization’s needs.

• Gain an understanding of the types of outsourcing.
• Discover service partner selection, examining the situations and needs that drive selection, the processes for identifying suitable service partners and the methodologies for evaluating them.
• Find out how to work with consultants, brokers and service partners to design a benefits plan.
• Learn the steps involved in negotiating and finalizing a contract, once a suitable service partner is identified.
• Learn tips for terminating and re-bidding if the decision is made to end the service partner relationship.

Who Should Attend

This course is designed for middle to senior-level benefits and HR professionals responsible for selecting, contracting and managing outside service partner and consultant relationships.

What You Will Learn

Making the Decision to Outsource

• Business case
• Outsourcing objectives
• Assessing the need

Selecting a Benefits Service Partners

• Identifying potential benefits service partners
• Request-for-information (RFI)
• Request-for-proposal (RFP)
• Analyzing proposals

Plan Design

• Identify and describe components of a benefits plan renewal
  • Plan assumptions
  • Plan components
  • Cost projections
• Working with consultants/brokers/service partners/actuaries

Negotiating and Finalizing the Contract

• Letter of intent
• Negotiating a contract
• Key aspects of renewal exercises and negotiations
• Underwriting components and affect on rate changes
• Service level agreements and performance guarantees
• Appropriate performance measures

Implementation and Transition to a New Service Partner

• Primary objectives
• Key members and their roles
• Key logistical issues
• Communication
• Managing the relationship
• Key issues surrounding the transition and managing the service partner
• HR’s role

Managing the Relationship

• Terms of service partner contracts
• Strategies and techniques
• Auditing service partners

Completion of the Contract Term

• Terminating a contract prior to the end of the contract period
• Four basic options for the client upon completion of the contract period
• Rebidding
• Streamlining the rebidding process
• Ensuring smooth transition

Credits CBP: Required through Dec. 31, 2009 Under Current Certification Requirements Only (compare current and new CBP requirements) Recertification: 2 course, .5 Exam CEUs: 1.5 Course, .3 Exam;

Consider Bringing This Course to Your Location This professional development program and others offered by WorldatWork can be customized to meet the unique needs of your organization and delivered at your location. For more information, contact a Corporate Education Resource Manager at 877/710-5970 or 480/905-5980.