Morneau Shepell (TSX:MSI) is a leading provider of technology-enabled human resources (HR) services that deliver an integrated approach to well-being through the company’s cloud-based platform.
The company’s focus is providing organizations with the required support to ensure the mental, physical, social, and financial well-being of employees. As a leader in strategic HR services, the company helps clients solve complex workforce problems and provides integrated productivity, health, and retirement solutions.
The company’s approach spans services in employee and family assistance, health and wellness, recognition, pension and benefits administration and retirement consulting. The company is the leading provider of Employee and Family Assistance Program (EFAP), the largest administrator of retirement and benefits plans. With approximately 6,000 employees in offices globally, the company offers services to approximately 24,000 organizations in Canada, the United States, and around the globe.
Value-added solutions
Morneau Shepell is focused on total well-being. The company’s services support the health, productivity, and financial security of employees and help reduce workplace absenteeism and promote well-being.
The company’s well-being solutions segment offers counselling and educational services and targeted health and wellness programs via a tech-enabled well-being platform to support an employee’s work, financial, and personal needs. The company’s administrative solutions segment manages all aspects of the administration of clients’ pension and benefits plans.
The company’s health and productivity solutions segment provides administration and support services to organizations in the areas of attendance, disability, workers’ compensation, as well as the mental health continuum of care.
Finally, the company’s retirement solutions segment assists organizations with the design, determination of funding requirements, management, and financial control of pension and benefits plans. The company helps increase engagement, productivity and financial outcomes, while reducing risk, to enhance competitiveness and business success.
Technology-enabled services
Morneau Shepell’s LifeWorks technology platform is a mobile-first digital ecosystem that features a communications and community feed, perks and savings, rewards and recognition, and a wellness program. The LifeWorks platform supports the physical, mental, social, and financial health of an individual by providing tools to proactively achieve wellness goals and manage issues in a self-directed way.
The platform connects individuals with the news, events, and people within an organization to foster relationships. It serves as a gateway to convenient, secure, and clinically sound treatment options through the company’s EFAP.
Through the EFAP, employees of customer organizations have access to eight technology modes of short-term clinical or professional consultation for a variety of issues, including mental health concerns.
The company’s administrative solution segment utilizes proprietary software called Ariel, which is developed and maintained in-house by the Morneau Shepell. This helps organizations to manage all aspects of clients’ pension and benefits plans on an outsourced basis as well as provide administration support through a cloud technology solution.
Future outlook
Morneau Shepell’s technology-based delivery model offers employers and plan sponsor organizations a cost effective and efficient solution to meet benefits administration needs. Significant value is delivered to clients during the annual enrolment process and in the context of ongoing benefits administration.
The company’s tremendous success during COVID-19 should lead to a significantly higher stock price.
