In 2007 Pallas Athena and Consilience merged. Under the common name Pallas Athena high-quality Business Process Management (BPM) solutions are provided. Besides a complete BPM Suite the company also offers training and consultancy. Due to the merger the need arose to harmonize employee benefits. This did not only imply changing one or both pension schemes, but also finding one suitable pension provider for the new harmonized pension plan.
Harmonization of employee benefits due to a merger
First of all with we mapped out the situation right after the merger had taken place. We compared the merging companies' pension schemes, taking into account the benefits and expenses. In cooperation with the HR department and a broadly established pension commission, the negotiations with the different pension providers were initiated. Furthermore, we provided support in finding the most suitable pension plan for the merged company. Besides a widely supported solution, this approach also resulted in a durable knowledge base within the organization. During the project, the employees were informed continuously, not only on the progress of the project, but also on the relation between major issues, such as the so-called affair concerning usurious policies and their personal pension situation.
- Clear insight into the situation up to the merger and afterwards;
- a significant cost reduction due to firm negotiations with several pension providers;
- support within the new organization for the new situation, including a better understanding of the harmonized pension plan;
- employees feeling confident again about their personal pension in relation to recent developments in the insurance industry.