March 12, 2014
For several years now, Hewitt Associates has been working on expanding from a consulting-oriented company to a full-scale outsourcing provider, according to sources at Hewitt that have spoken to Workforce Management. The June 16 announcement that Hewitt is buying Exult --which is arguably the pioneer in total human resources outsourcing--will certainly do the trick.
The combined company will have approximately $3 billion in combined revenues. It will serve about 18 million benefits participants; more than 600,000 employees with broader outsourcing such as human resources administration; and more than 2,300 companies with HR consulting, according to Exult.
The outsourcing part of the combined company will be headed by Hewitt's Bryan Doyle. Senior Exult leaders are likely to take senior roles in the outsourcing division of the new company.