Helping Socially Responsible Companies Partner With Socially Responsible Vendors in the HR Space
Helping Socially Responsible Companies Partner With Socially Responsible Vendors in the HR Space
Helping Socially Responsible Companies Partner With Socially Responsible Vendors in the HR Space
Helping Socially Responsible Companies Partner With Socially Responsible Vendors in the HR Space
EpeeNoire is a HR Tech firm that embraces socially responsible issues within its own mission. We believe companies should do business with companies that share the same type of values. We benchmark vendors using our proprietary index and search for the perfect match.
We believe all companies should embrace a societal mission to give back to those less fortunate. EpeeNoire is creating a foundation to provide scholarships to children of color and immigrants for college. We donate 5% of all revenue to the cause.
We will move the needle in Social Awareness for Companies
We work with socially responsible companies to find the right benefit provider in health care consulting, investment consulting, benefit administration and actuarial services. We ask clients what are the most important items that they support, be it minority issues, gender representation in management or whatever their goals. We create a custom benchmark for vendors and search for the best match through a RFP process.
Not only are we experts in the benefits field, but we only hire those who believe in the mission of compassionate companies. Our people believe in a world where everyone can take care of everyone. They are true believers. Our founder is the retired CEO of a national benefits firm that specialized in 401k, pension and health care plans from the provider side. Hence, our knowledge is completely under the hood and we know where to look.
Employees are asking their employers, what are we doing with regard to helping society in general? Shouldn't our vendors match our company, especially in the HR Space? In addition, many large employers are making basic business decisions regarding their provider such as which social media platform to use for advertising.
Many HR vendors do not need to be renewed and their contracts simply roll over. This does does not optimize cost efficiency. In the post pandemic world, costs are going to be under even more scrutiny.
Did your current provider deal with you differently during the pandemic? Did they bring new ideas such as telehealth? Were they proactive rather than reactive?
The Department of Labor does scrutinize whether plan sponsors pay attention to fees especially when paid by plan participants. The best practice is to review all vendors every 3-5 years. It does not mean you have to replace the vendor, but checking the market is a reasonable method to assure you have filled your fiduciary responsibilities. Many times, plan sponsors solely focus on the recordkeeper and not the investment consultant. Both must be looked at separately. hrtech socially conscious business human resources
Massachusetts Institute of Technology was required by their settlement to run a RFP process. https://www.plansponsor.com/18-1m-mit-fiduciary-breach-lawsuit-settlement-includes-rfp-process/
401k fees are the subject of lawsuits for companies that have not run a RFP process. https://www.chubb.com/us-en/_assets/doc/2020-05.06-17-01-0271-war-on-retirement-plan-fees.pdf
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