JMBI is dedicated to our clients’ success. Our expertise, insights and focused action are fundamental to delivering real results for your business.
Read our client success stories to see how we help clients reach their goals and maximize financial and operational performance.
Establish the Standard: Mortgage Banking – Employee Benefits
The mortgage industry is heavily regulated, and our client needed to establish consistent standards across recently acquired branches. The human resources team wanted to centralize systems for benefit administration, eligibility management and enrollment ahead of pending Health Care Reform.
While meeting with the client to discuss escalating health care costs, we raised the issue of low employee participation and varying enrollment from region to region. This conversation led to the objective of standardizing benefit eligibility requirements across all branches to eliminate potential inconsistencies and streamline administration.
Recently acquired branches were smaller with limited HR capabilities, so centralizing communication and classification standards was paramount. Centralized standards also empowered corporate HR to balance the way benefit costs were calculated and allotted to various regions.
The combined effect of the client’s growth and health care reform means more employees are eligible for and covered by benefits, so we implemented a wellness and health improvement program – something that would not have been possible before consolidation.
Our client’s benefits are streamlined and consistent. They are continuing to refine the cost accounting for benefits, which will support overall financial and cultural objectives and further integrate the firm.
Though still in its early stages, the wellness program is growing and has senior leadership support.