According to a press release, the bank’s new service delivery model uses multiple human resources service providers, with one primary provider delivering the core human resources technology platform and operational integration with the other specialists.
As part of a new 5.5-year ongoing service contract, Hewitt—a global human resources consulting and outsourcing services company—will support human resources administration, payroll, and health and life management administration; provide enabling technology for timekeeping, recruiting, and applicant tracking; offer global talent and performance management; and offer core service center support for all U.S. BofA associates. The global learning management system, provided by Plateau Systems, will be integrated into the Hewitt platform to manage the administration, delivery, and tracking of learning and training across the Bank of America enterprise.
U.S. associates will experience a change in tools and customer service support for health and life management benefits, human resources/payroll administration, timekeeping, and recruiting applicant tracking systems starting in 2011 through a phased integration. All associates, including those outside of the U.S., will experience a change to the global learning and talent and performance management human resources tools.
Access to all services will be integrated through Hewitt’s online portals, including myHR (human resources and payroll self-service) and Your Benefits Resources (benefits self-service).
The announcement said Fidelity will continue to administer retirement services for Bank of America associates under the current contract. Retirement services and stock plan administration for Merrill Lynch associates will remain with Bank of America Merrill Lynch Retirement and Philanthropic Services (RPS). Stock plan administration for Bank of America associates will migrate to RPS by year-end 2010.