The Lincolnshire, Illinois-based company will provide HR, payroll, defined contribution (401k), and health and welfare administration services to more than 29,000 of Mervyns’ US-based employees over the next seven years. The recent sale of Mervyns and transition to an independent company led the company to explore HR BPO as an option.
The financial details of the contract were not disclosed, though the market average, according to advisory group Everest, is $358 per person per year, which would give a contract value of $73m.
