Growing Firm Needs To Reduce Overhead & Implement Integrated HR To Fuel Expansion
We were approached by growing firm with operations across the state. They had been with their current PEO for almost four years. During that time they saw their administrative fees creep up and their medical renewals starting to spike.
As part of our process, we identified all their cost centers and outlined some inconsistencies in their benefits strategy. We came back to them with three competitive quotes based on their current needs, taking into consideration their expected market expansions.
The results were fantastic.
We mapped out a benefits strategy for them that met their immediate needs and addressed long term cost containment. Not only were we able to find a significant reduction in premiums, but found them richer plans to offer to the employees.
An additional driver for them was finding a partner that could integrate a learning management system into their on-boarding process.
Before they engaged, this was their annual spend for HR/Benefits: $516k
With Pratura, we were able to get them to: $429k
Estimated Savings in Year One: $87k
Savings per employee/year: $1,160