HRO Today December 2014 - 14

2015 Forecast
All Signs Point to Up
Positive growth in 2014 is likely to continue in 2015 fi nds analyst
fi rm NelsonHall.
By Amy Gurchensky
If the past is any indicator of the future, then the HR
outsourcing market will have a productive upcoming year.
2014 contract activity was up nearly 11 percent year-overyear,
with renewals and contract expansions accounting for
a quarter of the activity. Mid-market activity remained high
and public sector contracts increased year-over-year. This can
be seen in several HR outsourcing service lines.
Payroll
Globally, payroll is the most stable HR outsourcing tower.
Year-over-year growth for this industry has remained in the
low single digits and growth in 2015 will be no different.
Vendors will focus on expanding their geographic footprint.
For example, in 2014, ADP acquired Perkura GmbH in
Germany and announced that it will expand its presence
in Spain. This should yield advancements in these countries
in 2015 as a result of these 2014 initiatives. Indian payroll
providers will also look to build capability in Europe in the
near future.
Demand for multi-country payroll services will continue, and
there will be growth for managed payroll services.
Benefi ts
Approximately two years ago, the United States benefi ts
administration market began to experience a transformation
[14]
HRO TODAY MAGAZINE
| DECEMBER 2014
driven by healthcare reform. Up to this time, the core benefi ts
administration processes were very well settled. The change
that began in 2012 will continue to develop over the next few
years, ultimately transforming the benefi ts administration
landscape.
In the last year, private health insurance exchange contract
activity rose substantially as the market shifted from fi rst
movers to early entrants. Private exchange activity in 2015 will
increase further from adoption by a variety of organizations
from different industry sectors. Restaurants, retail, and
hospitality companies will lead the pack, but professional
service organizations, manufacturers, and hi-tech and
electronic companies will also make headway in the New
Year.
Traditional health and wellness administration contracts will
also yield positive activity in 2015, as organizations look to
make their workforces healthier to increase productivity and
decrease absenteeism.
First-generation defi ned contribution administration
contracts will continue to grow with interest from small and
mid-sized companies, as well as large employers. The focus
in 2015 will be on increasing education and engagement
to promote retirement readiness. Expect new offerings-
similar to Xerox's SavIncent-that ties fi nancial incentives
into an employee's 401(k) account based on that individual's

HRO Today December 2014

Table of Contents for the Digital Edition of HRO Today December 2014

HRO Today December 2014 - 1
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