Selection of Consultants Benefits Administration Operations Thesis Proposal

Selection of Consultants Benefits Administration Operations - Thesis Proposal Example 2.0 Project Terms of Reference 2.1 Introduction and Background LRH Financial is a global investment management firm. The company has been a pioneer in providing new and innovative investment management services to our clients worldwide. 2.2 Project Objective Employees are the most important resource an organization has and LRH recognizes the importance of providing employee well-being by offering state of the art benefits package to our employees. The objective of this project is to update Benefits Administration of LRH. This will improve and enhance the benefits package that our employees obtain from the company. 2.3 Project Scope LRH likes to outsource the following benefits administration operations to a vendor who can provide all of most of the following services, preferably for 5 years. The broad scope of this project covers the following (Wayne State University, n.d.): 2.3.1. Medical and Dental Insurance - Company offers a variety of medical insurance services like hospitalization expenses etc., to employees and their dependants. The vendor will manage the medical insurance records and claims. 2.3.2. Life Insurance - The vendor will develop procedures for maintaining life insurance files and systems for the company's employees. 2.3.3. Retirement Plan - Retirement allowances and severance pay etc. will be calculated and maintained by the vendor for the company. 2.3.4. Tuition Assistance Plan - The company offers tuition assistance to its employees' children. The records and related calculation systems will be operated by the vendor observing the company's directives. 2.3.5. Online access to Benefits Administration for self-service functionality - A self-service function will be available on the company's intranet where all...The objective of this project is to update Benefits Administration of LRH. This will improve and enhance the benefits package that our employees obtain from the company. LRH likes to outsource the following benefits administration operations to a vendor who can provide all of most of the following services, preferably for 5 years. The broad scope of this project covers the following (Wayne State University, n.d.): 2.3.1. Medical and Dental Insurance - Company offers a variety of medical insurance services like hospitalization expenses etc., to employees and their dependants. The vendor will manage the medical insurance records and claims. 2.3.4. Tuition Assistance Plan - The company offers tuition assistance to its employees' children. The records and related calculation systems will be operated by the vendor observing the company's directives. 2.3.5. Online access to Benefits Administration for self-service functionality - A self-service function will be available on the company's intranet where all the employees can have secured access to their benefits administration records. They should also be able to communicate with relevant vendor personnel to resolve any queries they might have.