Hanna Global Solutions
Hanna Global Solutions was built around the Indian IT services companies being incorporated in the US in the early 90s. That era saw the entire off shore industry being ramped up. Companies required to keep their costs low opted to do most of the work in India, thus the complexities of running a business in the US, sitting in India started creeping up. These companies required a support system in the US that understood their unique business model. Mathew Augustine, COO, HGS, who was then working for a leading IT Services off shoring company had an idea for a technology enabled service offering to meet this need. He teamed up with Mark Hanna and Joseph Genovese, Employee Benefits and Insurance experts, and thus HGS was formed in 2002.
Companies conduct their businesses in the global arena and they require a state of the art system to manage employee benefits and payroll irrespective of their nationality. Hanna Global Solutions (HGS), founded by Mathew Augustine and his partners, provides its clients with customized, fully-integrated global human resources solutions through the use of their proprietary technology and business processes to meet these objectives.
Founder and CEO
Covering all bases the company provides to its clients services ranging from health, voluntary and retirement benefits to strategic payroll solutions. The company also takes care of legislative compliance, employee on-boarding and global HR Services to boost their client’s business goals and reduce cost. Their solutions rightly integrate governance, compliance, stewardship and concierge-level employee support. Focusing on a very niche market, the Indian IT companies in the US, HGS has built its capabilities and scaled capacity for a loyal clientele of some of the biggest names in the market and currently support over 50,000 employees and their family members.
The most significant benefit that clients derive from HGS is their ability to provide clients with simplicity against a backdrop of very complex HR and benefit scenarios. In an outsourced model, usually 10 percent of the employee base in a company keeps changing on a monthly basis owing to the volatility of projects. Even if the overall headcount is stable, the organization goes through several tumults within its system. These changes lead to a host of complexities for payroll and benefits and could lead to leakages through which a company stands to lose considerable amounts of money if these processes are not handled with expertise. HGS steps in and tracks these changes with the aid of their proprietary technology platform. “The company only gives us the basic information about the employee and the benefits of the employee are managed by us,” explains Augustine.
The company has built trust among clients and has been serving them dedicatedly for several years. For one of its marquee clients, HGS has been managing the employee benefits program for over ten years. The company headcount grew over eight times in this time, and HGS scaled its services and capabilities to keep up with this growth. The complexity of operations grew exponentially, with acquisitions, creation of entities and integration back into parent, changes in benefit plan structures and employee contribution schedules, and changes in payroll frequencies. The client’s HR team experienced frequent changes, but the stable team from HGS servicing the program ensured executive level oversight and consistent governance. A rough estimate of the savings generated by the stewardship provided by HGS is over $60 million over ten years.
The year 2013 is being dubbed as a crucial juncture in the U.S. for employee benefits and health insurance owing to the impending effects of the healthcare reforms. HGS is going all out to expand its customer base beyond its niche and capturing a lion’s share of the market. “With our tenured team of experts, technologies, subject matter expertise, process, and network, we are at a tipping point and we expect to do very well,” says Augustine.
The company enjoys the liberty to target several verticals as their services are relevant to almost any medium or large company. “Our niche spot is not just IT companies. We have sharpened our swords and are ready with our tools that are relevant to any company looking to simplify their HR processes,” says an elated Augustine.
HGS relentlessly works towards finding new and innovative solutions to always stay a step ahead of competition. The company is working at launching a unique initiative by putting together an insurance exchange with an insurance carrier, especially for the Indian IT Services segment. "We are working with a leading US insurance company designing proprietary plans and pricing which will offer added advantages,” says Augustine. It will be a private exchange specifically for this segment which will launch in 2 to 3 months.
With their eyes set on expansion the company wants to ramp up their client base and reach beyond their niche. Armed with their path breaking technology platform the company is sure to touch new heights of success and in turn simplify complexities faced by employers all over the U.S.