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Morneau Shepell - Next Generation H&W Administration
Vendor Analysis
published on Nov 13, 2020
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Report Overview:
This NelsonHall assessment analyzes Morneau Shepell’s offerings and capabilities in Next Generation H&W Administration.
Who is this Report for:
NelsonHall’s Cloud HR Transformation Services profile on Morneau Shepell is a comprehensive assessment of Morneau Shepell offerings and capabilities, designed for:
- Sourcing managers monitoring the capabilities of existing suppliers of H&W Administration and identifying vendor suitability for H&W Administration RFPs
- Vendor marketing, sales, and business managers looking to managers developing strategies to target service opportunities and benchmark themselves against their peers
- Financial analysts and investors specializing in the H&W Administration sector.
Scope of this Report:
The report provides a comprehensive and objective analysis of Morneau Shepell’s H&W Administration services offerings and capabilities, and market and financial strengths, including:
- Identification of the company’s strategy, emphasis, and new developments
- Analysis of the company’s strengths, weaknesses, and outlook
- Revenue estimates
- Analysis of the profile of the company’s customer base including the company’s targeting strategy and examples of current contracts
- Analysis of the company’s offerings and key service components
- Analysis of the company’s delivery organization including the location of delivery locations.
Key Findings & Highlights:
This NelsonHall vendor assessment analyzes Morneau Shepell’s offerings and capabilities in H&W Administration services.
Morneau Shepell, headquartered in Ontario, Canada, is an HR services and technology provider offering employee and family assistance, health and wellness, recognition, pension and benefits administration.
Founded in 1966 as an actuarial and benefit consulting firm, in 1997, W.F. Morneau & Associates merged with Sobeco in 1997 to establish Morneau Sobeco. It expanded to the U.S. in 1987 and began its outsourcing practice in 1996. Morneau Shepell, as it is known today, was formed in May 2008 through Morneau Sobeco's acquisition of Shepell-fgi – Canada's largest provider of employee health management and workplace training education services. It continued a path of acquisitions and, in 2019, made a significant acquisition of Mercer’s large market stand-alone health and pension administration businesses.
As of January 1, 2020, Morneau Shepell business is organized into the following four business lines (with the approximate share of revenues):
- Well-being (41%): includes the provision of Employee Assistance Programs (EAP), children’s support solutions, crisis/trauma support, HR support solutions, problem gambling, targeted health and wellness, and workplace learning
- Administrative Solutions (34%): includes pensions and retirement administration, H&B/H&W administration, HR call centers, pension and benefits software, and total rewards communication
- Retirement Solutions (13%): includes actuarial services; asset and risk management; compensation consulting; DC consulting; employee communication services; implemented consulting; international regulatory consulting; investment consulting; legal consulting, compliance, and governance support; pension design; pension regulatory services; retirement planning; and total pension outsourcing.
- Health and Productivity Solutions (12%): including absence management solutions, attendance support, leave management, disability management, and workers’ compensation.
- Across its overall benefits administration, well-being, and absence management services, Morneau Shepell has ~25k clients and touches ~48m plan participants.