Headway provides improved payrolling and technology processes for the contingent workforce of a leading financial institution.
The client, a large, fortune 500 and leading financial services company, provides retirement, longevity, lifestyle protection, investment and mortgage insurance services and products to more than 15 million customers in more than 25 countries. A core line of business involves the on-boarding and management of more than 400 mortgage insurance underwriters. Because their underwriters work on other projects, the workforce is constantly fluctuating, and underwriters move from project to project.
In order to increase operational efficiencies, increase productive hours and expedite billing, the client decided to partner with Headway’s Workforce Solutions. Headway, under contract, became the employer-of-record, managing payrolling and training for the client’s national mortgage insurance underwriting staff. Headway supported the client by taking on the responsibility of payroll, workers compensation and benefits for the client’s temporary or long-term contingent workforce, including both W-2 employees and 1099 workers. This enabled the client to spend less time worrying about the costs, compliance and day-today management of their workforce and spend more time focusing on the core competencies and needs of running their business successfully. In working with the client, Headway was recognized for service delivery excellence.
Specific processes and operations that were improved by Headway’s technology platform, training and management included:
From this platform, functionality was improved in the following areas of data analysis, accuracy and up-to-date, real-time access:
The contingent workforce management process and platform that Headway developed for this client allowed them to improve accuracy and efficiencies in the following areas:
Since Headway is the mortgage insurance underwriter’s employer-of-record, Headway became responsible for all aspects of the underwriters’ employment. Also, by providing on-site management, Headway works with all managers and team members directly to ensure the seamless on‑boarding and off-boarding of employees.
Because Headway is an industry leader in providing both payrolling and contingent workforce management, the financial institution made a decision to make use of Headway’s management expertise and technology platform to streamline its mortgage insurance underwriting workforce operations. The process Headway designed for the client included:
By using Headway as the employer-of-record to manage this contingent workforce, the financial institution saw the following immediately beneficial results:
Additionally, Headway’s experts working on-site helped the client to ensure that they were meeting the challenges of hiring and maintaining contract staff in temporary positions with consistency, metrics-tracking and continuity throughout a project.
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